When you’re dealing with a financial emergency, finding a quick solution is crucial. Payday loans offer quick access to cash but it’s important to be aware of the risks and choose a reliable lender.

If you’re looking for payday loans online in California, be sure to check the state’s short-term loan laws. Read on to learn more about how to get a payday loan in California, eligibility requirements, and our top five loan recommendations.

Top 5 Payday Loans in California

With so many payday lenders in the Golden State, finding one that fits your needs can be challenging. We reviewed 20 lenders offering payday loans in the state based on factors like eligibility requirements, customer experience, reputation, and annual percentage rates (APRs) to pick our top five recommendations.

GreendayOnlineLow Credit FinanceGadCapitalSpeedy CashSuper Personal Finder
Loan Amounts$100 to $255$100 to $300Up to $255Up to $255Up to $300
APR261% to 460%5.99% to 35.99%Up to 460%Up to 460%Up to 460%

1. GreendayOnline- Best for Transparent Rates

  • Loan Amounts: $100 to $255
  • APR: 261% to 460%

Greenday Online offers instant approval payday loans in California. Borrowers can choose from small-dollar payday loans as well as bad credit installment loans of up to $5,000. The online application can be completed in five minutes, and you can get funds in your bank account on the same day once it’s approved.

2. Low Credit Finance: Best For Same-Day Loans

  • Loan Amounts: $100 to $300
  • APR: 5.99% to 35.99%

Low Credit Finance offers instant approval payday loans in California. While you can only borrow a small amount due to local regulations, the lender offers installment loans of up to $50,000 for borrowers with bad credit.

The advertised APRs on the website are competitive, but they’re only available to qualified borrowers for larger loan amounts. APRs for payday loans are likely to be much higher.

3. GadCapital- Best for Quick Approvals

  • Loan Amounts: Up to $255
  • APR: Up to 460%

GadCapital offers borrowers access to multiple payday lenders through its platform. You can fill out a simple online form and receive a payday loan with bad credit within minutes. The online application process is secure and quick, and the customer service team is available seven days a week to address concerns and answer questions.

4. Speedy Cash: Best for In-Store Services

  • Loan Amounts: Up to $255
  • APR: Up to 460%

Speedy Cash is a payday loan company with more than 150 locations in the United States. Other than payday loans in California, you can also borrow title loans, lines of credit, and installment loans from Speedy Cash.

5. Super Personal Finder: Best for Instant Funding

  • Loan Amounts: Up to $300
  • APR: Up to 460%

Super Personal Finder offers a large variety of loan types, including payday loans and installment loans of up to $50,000. Larger loan amounts may have stricter income or credit requirements but have lower APRs. State laws apply for payday loans, including a $300 loan cap and a maximum APR of 460%.

Pros and Cons of Borrowing a Payday Loan in California

Before you borrow a payday loan in California, it’s important to understand how interest rates and fees work. It can be difficult to get out of debt once you’re trapped. Consider these pros and cons before you decide to borrow one.

Pros

  • Payday loans are easy to qualify for since no credit check is needed.
  • You can get access to cash quickly.
  • You don’t risk losing your assets since these are unsecured loans.

Cons

  • Payday loans are a form of predatory lending.
  • These loans can be very expensive.
  • If you rollover a payday loan, you can get trapped in a cycle of debt.
  • Repaying the loan doesn’t help you build credit.
  • Lenders may take legal action if you fail to repay the loan.

Payday Loan Requirements in California

It’s easy to qualify for a payday loan in California. You must:

  • Have a government-issued ID
  • Be 18 years or older
  • Have proof of income
  • Have an active checking account

Your credit history is not a factor for loan approval. Lenders will simply verify your bank account information, income source, and identity to approve your loan application.

How To Apply for Payday Loans in California

Once you’ve evaluated your options and decided to apply for a payday loan in California, these are the steps you’ll need to follow:

  1. Consider whether you want to apply for the loan online or in-store.
  2. Make a list of lenders and compare the terms, fees, APRs, and loan amounts they offer.
  3. Check to ensure the lender is licensed to operate in California.
  4. Read the reviews of the company online to learn more about customer experience.
  5. Gather relevant documents, such as your Social Security number, government-issued ID, bank account details, and pay stubs.
  6. Walk in-store to fill out the application or fill out the application on the lender’s website.
  7. Provide a post-dated check (in-person) or ACH authorization.
  8. Submit the application and wait for the loan approval.
  9. Sign the loan agreement. You’ll get the loan funds in your bank account, usually on the next business day.

Interest Rates and Terms for Payday Loans in California

There are a number of payday loan laws in place to protect California consumers from predatory lending. Here are a few things you should know about:

  • All payday lenders in California must be licensed by the Department of Financial Protection and Innovation (DFPI).  
  • The maximum loan limit for a payday loan in California is $300.
  • The maximum repayment term is 31 days.
  • The total value of all outstanding payday loans can’t exceed $300.
  • You can only have one payday loan at a time.
  • Lenders can charge a maximum fee of 15% up to $45. For a two-week loan, the 15% fee is equivalent to an APR of 460%.

How to Compare Payday Loans in California

While all payday loans in California are expensive, it’s still important to compare your loan options to ensure you’re not overpaying and that the lender you’re working with is complying with state laws. Here are a few things to consider when comparing your options:

  • Check to make sure the lender is licensed by the DFPI.
  • Read the company's reviews on the Better Business Bureau (BBB) website, Trustpilot, and other review sites.
  • Check to see if there are any complaints registered against the lender.
  • Compare the finance charges, terms, and loan amounts offered by multiple lenders carefully.

Compare the Costs Before Borrowing a Payday Loan Online in California

While there are a number of lenders that offer online payday loans in California, they must follow the state laws when it comes to maximum loan amounts and fees.

Always borrow from a licensed lender. Borrow only as much as you can comfortably repay by your due date. When possible, consider other financial solutions like cash advances and personal loans that are cheaper and safer if they meet your financial needs.

Exploring Financial Support Options Beyond Payday Loans

If you're considering payday loans in California, it’s essential to explore a few alternatives that may offer more sustainable solutions to your financial challenges. Here are a few options to consider:

Debt Relief Plans

Enrolling in a California debt relief program can provide personalized options like credit counseling and debt settlement plans. These relief options can help you manage and reduce your unsecured debt more effectively than high-interest payday loans.

Government Financial Assistance Programs

California's financial assistance programs provide cash aid, rent assistance, food stamps, and unemployment benefits for residents facing financial difficulties.

Stimulus Checks in California

The state has issued several California stimulus checks to provide financial relief during economic hardships. Although there are no new stimulus programs in 2024, you may still be able to get the Golden State Stimulus (GSS) payments or qualify for tax credits that can help you save money on taxes.

California Middle Class Tax Refund (MCTR)

The California Middle Class Tax Refund (MCTR) is a one-time payment issued to eligible residents to alleviate the impact of rising costs. Payments were sent via direct deposit or preloaded debit cards. If you haven’t received your refund, you might still be able to claim this financial support to help with your expenses.