Georgia Short-term Loan Terms and Rules in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in Georgia

Table of content
Jump to

Short-term Loans Terms in Georgia

Legal Status Illegal
Interest Rate (APR) 10% usury cap

Top Personal Loan Lenders in Georgia

Lender
User Ratings
Branches
Cities
Category
Guaranteed Rate Affinity
User Raiting:
5.00
Branches: 2
Cities: 2
Category: Financial institution
Guaranteed Rate
User Raiting:
5.00
Branches: 24
Cities: 10
Category: Financial institution
First Choice Payday Loan
User Raiting:
5.00
Branches: 4
Cities: 4
Category: Loan agency
Montana Capital
User Raiting:
5.00
Branches: 5
Cities: 4
Category: Loan agency
Stifel
User Raiting:
5.00
Branches: 4
Cities: 3
Category: Financial institution
TitleCash
User Raiting:
5.00
Branches: 2
Cities: 2
Category: Loan agency
Cardinal Financial
User Raiting:
5.00
Branches: 3
Cities: 3
Category: Financial institution
Bay Equity
User Raiting:
5.00
Branches: 2
Cities: 2
Category: Financial institution
TitleMax
User Raiting:
4.96
Branches: 170
Cities: 102
Category: Financial institution
Auto Money
User Raiting:
4.96
Branches: 9
Cities: 6
Category: Loan agency
New American Funding
User Raiting:
4.94
Branches: 28
Cities: 7
Category: Financial institution
Silverton Mortgage
User Raiting:
4.92
Branches: 46
Cities: 16
Category: Financial institution
Envoy Mortgage
User Raiting:
4.90
Branches: 5
Cities: 5
Category: Financial institution
LoanStar
User Raiting:
4.88
Branches: 17
Cities: 17
Category: Loan agency
Movement Mortgage
User Raiting:
4.84
Branches: 18
Cities: 8
Category: Financial institution
Homestar
User Raiting:
4.83
Branches: 11
Cities: 8
Category: Financial institution
Heights Finance
User Raiting:
4.77
Branches: 3
Cities: 3
Category: Loan agency
World Finance
User Raiting:
4.76
Branches: 14
Cities: 12
Category: Loan agency
Mariner Finance
User Raiting:
4.66
Branches: 12
Cities: 12
Category: Loan agency
Franklin Financial
User Raiting:
4.64
Branches: 42
Cities: 42
Category: Financial institution
Caliber Home Loans
User Raiting:
4.58
Branches: 9
Cities: 8
Category: Loan agency
Check Into Cash
User Raiting:
4.56
Branches: 9
Cities: 9
Category: Financial institution
SWBC Mortgage
User Raiting:
4.55
Branches: 7
Cities: 5
Category: Financial institution
Homebridge
User Raiting:
4.53
Branches: 8
Cities: 4
Category: Financial institution
ACE Cash Express
User Raiting:
4.50
Branches: 5
Cities: 3
Category: Check cash
United Community Bank
User Raiting:
4.25
Branches: 16
Cities: 14
Category: Bank
loanDepot
User Raiting:
4.02
Branches: 5
Cities: 4
Category: Financial institution
Pinnacle Bank
User Raiting:
3.94
Branches: 10
Cities: 10
Category: Bank
OneMain Financial
User Raiting:
3.89
Branches: 42
Cities: 40
Category: Loan agency
Guild Mortgage
User Raiting:
3.89
Branches: 21
Cities: 8
Category: Financial institution
Security Finance
User Raiting:
3.87
Branches: 31
Cities: 27
Category: Loan agency
Navy Federal Credit Union
User Raiting:
3.85
Branches: 16
Cities: 15
Category: Credit union
Bank OZK
User Raiting:
3.79
Branches: 54
Cities: 44
Category: Bank
First Citizens Bank
User Raiting:
3.75
Branches: 7
Cities: 7
Category: Bank
Renasant Bank
User Raiting:
3.70
Branches: 31
Cities: 25
Category: Financial institution
Fairway
User Raiting:
3.67
Branches: 11
Cities: 9
Category: Financial institution
First National Bank
User Raiting:
3.60
Branches: 2
Cities: 2
Category: Bank
Synovus
User Raiting:
3.58
Branches: 54
Cities: 34
Category: Financial institution
Lendmark Financial Services
User Raiting:
3.56
Branches: 28
Cities: 27
Category: Financial institution
Regional Finance
User Raiting:
3.55
Branches: 8
Cities: 8
Category: Loan agency
SouthState Bank
User Raiting:
3.48
Branches: 41
Cities: 30
Category: Financial institution
Regions Bank
User Raiting:
3.41
Branches: 105
Cities: 67
Category: Financial institution
First Horizon
User Raiting:
3.40
Branches: 8
Cities: 6
Category: Financial institution
Republic Finance
User Raiting:
3.37
Branches: 24
Cities: 24
Category: Loan agency
PNC
User Raiting:
3.20
Branches: 9
Cities: 9
Category: Financial institution
Wells Fargo
User Raiting:
3.17
Branches: 26
Cities: 22
Category: Financial institution
Flagstar
User Raiting:
3.00
Branches: 4
Cities: 2
Category: Financial institution
Ameris Bank
User Raiting:
3.00
Branches: 3
Cities: 3
Category: Financial institution
JPMorgan Chase
User Raiting:
2.83
Branches: 20
Cities: 16
Category: Financial institution
Truist
User Raiting:
2.52
Branches: 67
Cities: 46
Category: Loan agency
Bank of America
User Raiting:
2.41
Branches: 44
Cities: 28
Category: Financial institution
SAM Self-Service Check Cashing
User Raiting:
1.00
Branches: 8
Cities: 8
Category: Check cash

Georgia Short-term Loan Regulations

Payday loans in Georgia, are prohibited under state law, reflecting a strong stance against high-interest, short-term lending practices. Georgia's laws are among the most stringent in the United States in terms of regulating payday loans, aiming to protect consumers from the high costs associated with these types of loans.

Under the Georgia Industrial Loan Act (GILA), payday lending is essentially prohibited. This act requires lending institutions to be licensed and regulated by the state and to offer loans that adhere to specific interest rate caps. In Georgia, if a loan is under $3,000, it must not exceed an interest rate of 10% per year, making traditional high-interest payday loans illegal. Additionally, the Georgia Payday Lending Act of 2004 further imposes penalties and criminal charges against lenders who violate these interest rate caps.

Federal laws, such as the Truth in Lending Act (TILA), also apply in Georgia. TILA requires lenders to disclose the cost of loans, including the APR and total finance charges, to ensure transparency and protect borrowers.

For more detailed information on the legal framework surrounding payday loans in Georgia, residents can visit the Georgia Department of Banking and Finance and the Consumer Financial Protection Bureau. These resources provide comprehensive information on consumer rights and lending laws, helping individuals make informed financial decisions.

What Are the Alternatives for Short-term Loans in Georgia?

Payday loan alternatives in Georgia include credit union loans, small personal loans from banks, credit counseling services, community assistance programs, employer paycheck advances, and developing a solid emergency savings plan.

Guaranteed Installment Loans

Guaranteed installment loans provide a fixed repayment schedule over a set period, typically with lower APRs than payday loans. These loans are suitable for those who need a predictable repayment plan. Requirements usually include proof of income and a credit check. They offer a more structured financial solution compared to the high-interest, short-term nature of payday loans.

Fast Title Loans

Fast title loans are secured loans where the borrower's vehicle title is used as collateral. They offer quick access to funds, often on the same day. However, they come with the risk of losing your vehicle if you default. These loans differ from payday loans as they require collateral and usually offer higher loan amounts.

Emergency Loan Without a Bank Account

For Georgia residents without a bank account, emergency loan options might include certain payday or title loans from lenders who accommodate this situation. While these loans provide quick cash, they often come with high fees and interest rates. It’s important to carefully consider the terms and explore other options like community assistance programs.

Debt Consolidation Loan

Debt consolidation loans allow individuals to combine multiple debts into a single loan with a potentially lower interest rate. This contrasts with high-interest, short-term payday loans. Debt consolidation can offer a more effective way to manage and pay off debts over a longer period, often with more favorable terms.

Instant Personal Loans Online

Instant Personal Loans offer a rapid response to urgent financial situations, with processing usually done within a day. Georgians applying for these loans need to demonstrate a steady income, possess a valid ID, and maintain an active bank account. These loans are a more affordable alternative to payday loans, featuring lower interest rates and extended repayment terms.

Cash Loans with No Credit

Cash loans available for Georgia residents with no credit history are typically more accessible than traditional loans but come with higher interest rates. Unlike payday loans, some of these loans might offer the opportunity to build credit when repaid responsibly, although they should be approached with caution due to their cost.

Bad Credit Loans

Bad credit loans are designed for borrowers with poor credit histories. These loans are more accessible than traditional loans but often come with higher interest rates. They differ from payday loans in that they can offer larger amounts and longer repayment periods, making them a viable option for those looking to rebuild their credit.

Quick P2P Loans

Quick P2P (peer-to-peer) loans are available through online platforms that connect borrowers with individual lenders. These loans can be more flexible and offer better rates than traditional payday loans. P2P lending allows Georgian borrowers with various credit histories to potentially secure more favorable loan terms than those offered by conventional lending institutions.

Basic Information about Georgia State

Metrics
Value
State Capital
Atlanta
Population
Approximately 10.7 million (as of 2021)
Location
Georgia is located in the southeastern United States, featuring a diverse landscape that ranges from coastal beaches to mountain ranges and large urban centers.
Largest City by Population
Atlanta
Biggest National Parks
Great Smoky Mountains National Park, Chattahoochee River National Recreation Area, Cumberland Island National Seashore

Submit a Complaint Against a Lender in Georgia

If you need to submit a complaint against a payday lender, you can contact the Georgia Department of Law's Consumer Protection Division. This government organization enforces consumer protection laws and can assist with issues related to payday loans.

  • 2 Martin Luther King Jr. Dr. SE, Suite 356, Atlanta, Georgia 30334-9077
  • (404) 651-8600
Submit a Complaint

FAQ

Are Payday Loans Legal in Georgia?

No, payday loans are illegal in Georgia. The state has strict laws regarding short-term, high-interest loans, categorizing them as predatory and therefore banning them to protect consumers.

What is a Title Loan and Is It a Safe Alternative to Payday Loans?

A title loan is a type of secured loan where borrowers use their vehicle title as collateral. While they are legal in Georgia, they can be risky. Title loans often come with high interest rates and short repayment terms, and if the loan is not repaid, the lender can repossess the vehicle. Therefore, while they are an alternative to payday loans, they are not necessarily a safer option and should be considered with caution.

What are Some Legal and Safe Alternatives to Payday Loans in Georgia?

Alternatives to payday loans include personal loans from banks or credit unions, credit card cash advances, and borrowing from friends or family. These options are typically safer and offer more favorable terms.

How Can I Recognize an Illegal Payday Loan Offer?

An illegal payday loan offer in Georgia might include promises of quick cash with no credit check, extremely high interest rates, or terms that seem too good to be true. Always verify the lender's credentials and be wary of any offer that seems to bypass state law.

What Steps Can I Take to Manage a Financial Emergency without Resorting to Payday Loans?

To manage a financial emergency, consider creating a budget to handle unexpected expenses, establishing an emergency fund, or seeking assistance from local non-profit organizations or community groups. These steps can help you avoid the need for high-risk loans.

Are There Resources for Financial Advice and Assistance?

Yes, Georgia offers various resources for financial advice and assistance. This includes non-profit credit counseling services, financial education programs, and community assistance initiatives. Resources like GeorgiaLegalAid or MoneyManagement can provide valuable guidance on managing finances and avoiding debt traps.

Georgia Short-term Loans Near Me

Abbeville Acworth Adairsville Adel Ailey Alapaha Albany Allentown Alma Alpharetta Americus Arlington Ashburn Athens Atlanta Attapulgus Auburn Augusta Austell Avondale Estates Bainbridge Baldwin Ball Ground Barnesville Barwick Baxley Berkeley Lake Bethlehem Blackshear Blairsville Blakely Bloomingdale Blue Ridge Bogart Bolingbroke Bonaire Bowdon Bowersville Braselton Bremen Brookhaven Brooklet Broxton Brunswick Buena Vista Buford Butler Byron Cairo Calhoun Camilla Canton Carnesville Carrollton Cartersville Cataula Cave Spring Cedar Springs Cedartown Centerville Chamblee Chatsworth Chickamauga City Clarkesville Clarkston Claxton Clayton Clermont Cleveland Cochran Colbert College Park Colquitt Columbus Comer Commerce Concord Conyers Coolidge Cordele Cornelia Corners Covington Crawford Cumming Cuthbert Dacula Dahlonega Dallas Dalton Danielsville Darien Dawson Dawsonville Decatur Demorest Dexter Dillard Doerun Donalsonville Doraville Douglas Douglasville Dublin Duluth Dunwoody East Dublin East Ellijay East Point Eastanollee Eastman Eatonton Edison Elberton Ellabell Ellaville Ellenwood Ellijay Emerson Enigma Eton Evans Fairburn Fairmount Fayetteville Fitzgerald Flowery Branch Folkston Forest Park Forsyth Fort Benning Fort Gaines Fort Oglethorpe Fort Stewart Fort Valley Fortson Franklin Springs Gainesville Garden City Georgetown Gibson Glennville Glenwood Gordon Grantville Gray Grayson Greensboro Greenville Griffin Grovetown Guyton Hahira Hampton Hapeville Harlem Hartwell Hawkinsville Hazlehurst Helen Hephzibah Hiawassee Hill Hinesville Hiram Hogansville Homer Homerville Hoschton Hull Irwinton Jackson Jasper Jefferson Jeffersonville Jekyll Island Jesup Johns Creek Jonesboro Kathleen Kennesaw Keysville Kings Bay Base Kingsland Lafayette Lagrange Lake Park Lakeland Lavonia Lawrenceville Leesburg Lenox Lilburn Lincolnton Lithia Springs Lithonia Locust Grove Loganville Lookout Mountain Louisville Lovejoy Ludowici Lumber City Lumpkin Luthersville Lyerly Lyons Mableton Macon Madison Manchester Marble Hill Marietta Martinez Mary's Mauk Mccaysville Mcdonough Mcrae helena Metter Midland Midville Midway Milledgeville Millen Milton Mineral Bluff Molena Monroe Montezuma Monticello Moody Afb Morrow Morven Moultrie Mountain City Mt Airy Murrayville Nahunta Nashville Newington Newnan Nicholls Norcross Oakwood Ocilla Odum Palmetto Peachtree City Peachtree Corners Pearson Pelham Pembroke Perry Pine Lake Pine Mountain Pooler Port Wentworth Porterdale Powder Springs Quitman Ray City Reidsville Rex Reynolds Rhine Rica Riceboro Richland Richmond Hill Rincon Ringgold Rising Fawn Riverdale Roberta Rochelle Rock Spring Rockmart Rome Rossville Roswell Royston Rydal Sandersville Sandy Springs Sautee Nacoochee Savannah Screven Sea Island Senoia Sharpsburg Shellman Smyrna Snellville Social Circle Soperton Sparta Springfield Springs St George St Marys St Simons Island Statesboro Statham Stockbridge Stone Mountain Stonecrest Sugar Hill Summerville Suwanee Swainsboro Sylvania Sylvester Talbotton Talking Rock Tallapoosa Talmo Tbilisi Temple Thomaston Thomasville Thomson Tifton Tignall Toccoa Trenton Trion Tucker Tunnel Hill Tybee Island Tyrone Unadilla Union City Union Point Uvalda Valdosta Vidalia Vienna Villa Rica Village Wadley Waleska Warner Robins Warrenton Washington Watkinsville Waycross Waynesboro West Point Whigham Whitemarsh Island Whitley City Willacoochee Williamson Winder Woodland Woodstock Wrens Wrightsville Young Harris Zebulon