A payday loan, also known as a payday advance, is a short-term loan used to help with small, often unexpected expenses. Payday loans are typically repaid on your next pay date, usually between two to four weeks.
These small-dollar loans are a safe and convenient way to stretch your buying power when it matters the most. Whether you’re struggling to make ends meet or facing unexpected bills or repairs, a payday loan online from CashinaMoment can help.
At CashinaMoment, we make it fast and easy to get the cash you need. Apply for a Washington payday loan online. We're proud to offer hassle-free borrowing options.
You can always turn to CashinaMoment for a Washington Payday loan near me.
We are dedicated to getting you the cash you need as quickly as possible. If you need extra funds to cover emergency bills, seasonal costs, or any other expenses, we’re the best answer.
In the state of Washington, the Department of Financial Institutions licenses and regulates payday lenders as well as the payday loan industry. Washington law says that a loan of less than $700 made by someone who is unlicensed cannot be collected upon and is unenforceable.
Other information may be requested prior to considering you for a loan.
In the state of Washington, the maximum payday loan amount should not exceed $700 or 30% of the gross monthly income. The maximum loan term is 45 days. Finance charges for loans smaller than $500 should not exceed 15% for loans larger than $500 – 10%. Criminal actions are prohibited. Rollovers and extensions are not permitted.
| Legal Status | Legal |
|---|---|
| Interest Rate (APR) | 391%* APR |
| Minimum Loan amount | Not Specified |
| Maximum Loan Amount | $700 (*or 30% of gross monthly income) |
| Minimum Loan Term | Not Specified |
| Maximum Loan Term | 45 |
| Number of Rollovers | 0 |
| Restriction | Only 8 payday loans per 12 month period |
| Finance Charges | <$500 = 15%; >$500 = 10% |
| Statute of Limitations | 6 years (from the last payment) |
| Database Loan Tracking | Yes |
Lenders may not harass or intimidate you when collecting a loan. If you are harassed, contact DFI and file a complaint.
Payday lenders wishing to operate in the state are required to have a valid license. The Washington State Department of Financial Institutions (DFI) is responsible for giving licenses, and it also regulates the payday loan industry in the state. You can verify a license of a payday lender online at the state website.
Internet payday lenders, as well as storefront lenders that do business in Washington, have to comply with this requirement.
Real APR for payday loans in Washington can be as high as 391%.
In Washington State, the Washington State Department of Financial Institutions (DFI) licenses and regulates payday lenders and the payday loan industry. All lenders in the state must be licensed to do business in the state.
With payday loans, you should notify your lender as soon as you know you may be unable to make a payment. Most lenders will work with you to establish a new due date for your loan.
No. Payday loans are not available to non-Washington residents.
You can get a payday loan in Washington with no credit check. Payday lenders do not perform hard credit checks with the credit bureaus. So, a no credit payday loan in Washington is possible.
Washington residents may be eligible to receive up to $700 with an online payday loan.
Your loan will typically be due on your next payday or the agreed-upon date on your loan agreement.
You have the right to rescind (cancel) your loan by returning the amount of the loan in full. We may not charge you for canceling the loan except for a small fee.
The most common reasons for loan denials include: you do not pass affordability checks, your past borrowing history, including missed payments or defaults, and lack of employment.
Over time payday loans that are unpaid do get written off. However, writing off payday loans does not happen quickly. It can take years for a write-off to occur. In the meantime, a collection agency could be harassing you to arrange to pay the outstanding loan debt.