Payday Loans in Sacramento: Subprime Report
A Guide to Getting The Help (and the Loan) You Need


There are lots of reasons that someone might need a helping hand. Maybe you just lost your job or your car broke down on the interstate. Maybe you bet big on The Kings winning against Golden State, which, um, didn’t turn out so hot. Either way, there are resources out there where you can get help. Sometimes it’s government programs or private charities, other times it’s a personal loan. Sometimes it’s as simple as a phone number you can call when things get bad. There are people, places and groups in Sacramento that can help you, no matter what you need.

Borrowing Money in Sacramento

Biggie was half right. Mo’ money does often lead to mo’ problems. But you know what else leads to mo’ problems? No money!

If you’re in a bind and need quick cash in an emergency there are a lot of options open to you. Some of these options are good, but a lot of them are not. It might seem like you have no choice but to go to a payday lender or hand over your car title for some cash. But that’s not true. Lenders like these often engage in predatory lending predatory lending that could leave you with way more problems down the line. Predatory lenders take advantage of people’s desperation and trap them into cycles of debt with misleading loan terms, sky-high interest rates and hidden fees. Even though you might need a loan to pay your bills, it still pays to do your research and learn The Truth about Payday, Pawnshop, and Car Title Loans.

Payday Loans in Sacramento
A payday loan today could negatively affect your paydays for years to come.

Payday loans often aren’t very big loans. They are usually only for a couple hundred dollars or less. But what they lack in amount borrowed, they make up for in amount owed. These loans have very short repayment periods — often 30 days or less — but they have APRs that can be 300%, 400% or even 500% higher than the principal balance owed. In Sacramento, under California state law, the most that person can borrow with their payday loan is $300 with a maximum 15% fee. That comes out to an APR of 460%.

If 460% sounds like a really high interest rate, it’s because it is. And while the terms of these loans might be very short, the high rates and fees can really add up. In some states, it is legal for payday lenders to rollover an unpaid loan. This means that they charge the customer a late fee plus additional interest in return for extending the due date. Since the borrower ends up owing even more than they owed on the amount that they couldn’t repay the first time around, they get trapped in a cycle of debt. However, rolling over a loan is illegal in California.

The term “payday loans” originates with the idea that this is a small loan that you will pay back when you receive your next paycheck. But if you get caught in a cycle of debt with a predatory lender, you could end up having those funds garnished from every paycheck you earn for years to come. If you have a complaint against a payday lender in Sacramento, contact the California Department of Business Oversight at (916) 327-7585 or the Consumer Financial Protection Bureau at (855) 411-2372.

Installment Loans in Sacramento
A strategic loan could put your finances on the right track for life.

Okay. So your kid was pretending to be Boogie Cousins and tried slam dunking a basketball… off the roof of your garage. Now you’re walking out of the emergency room with him and his brand new, Kings-purple cast and you’re thinking “How am I going to pay for this?”

Instead of going to a payday lender, taking out a title loan on your car or pawning your TV at a pawnshop, why not take out an OppLoan? A personal installment from OppLoans won’t leave you scrambling to repay. We have fixed monthly payments and longer repayment periods that are a great fit for anyone working on a tight budget. Fill out a simple online loan application and, if you’re approved, you can get your money as soon as the next business day.

OppLoans always strives to deliver fast, flexible, fair and five-star service:

  • Fast: Apply online and find out if you’re approved in minutes. Once approved you can get your cash as early as the next business day.
  • Flexible: We offer longer terms, larger loans, and affordable, fixed payments. Your monthly payment will be the same throughout the life of the loan.
  • Five-Star: Customers rate us 4.9 out of 5 stars for our friendly service. We also provide discounts for credit education.

Personal installment loans from OppLoans range from $1,000-$10,000 and our interest rates are 75%-125% lower than other lenders. You don’t have to go to a payday lender, turn over the title to your car or pawn your family’s fine china in order to get the cash you need. With OppLoans, there are no hidden fees and the amount you pay each month will never change. If you would like to apply for an OppLoan today or just want to learn more about what makes OppLoans a leader in the industry, check out our website: www.opploans.com.

More Resources:

See more local California guides below:
Anaheim | Bakersfield | Chico | Fresno | Los Angeles | Modesto | Oakland | Redding | Riverside | Sacramento | San Diego | San Francisco | San Jose | Santa Barbara | Stockton

*OppLoans is not affiliated with any of the programs, services or organizations referenced on this page.