Fremont Payday Loans: Subprime Report
An OppLoans Guide to Getting The Help You Need

A recent report by the Ohio Development Services Agency found that 14.7% of the population in Sandusky County lives below the poverty line. (1) That’s a little over one in seven people. These people and many more lack the access to financial resources to help pull themselves up. They have low incomes, little-to-no-savings and are often excluded from the kinds of low-interest personal loans offered by traditional lenders like banks and credit unions.

When emergencies happen, it can seem like there are almost no options available. It gets even harder when they’re facing more serious problems like chronic health issues, aging, substance abuse or mental illness. These are the kinds of issues that require long-term, specialized care — exactly the kind of thing that many people in need can’t afford.

Luckily, there’s help. From government programs to local charities, there are lots of places that people living in Fremont can go to find some assistance.

Borrowing Money in Fremont

No one can predict everything that is going to happen in their life. Cars break down, storms knock trees through windows and children just have a real knack for getting themselves hurt. But while people can’t predict everything that’s going to happen, they can still take the time to look ahead and know how they’re going to pay for it. But there are many lenders in the Fremont area that hope people do just the opposite. They hope people don’t plan ahead and instead take out high-risk, low-reward loans that might just leave them in worse shape than they were in when they began. These predatory lenders are something to avoid at all costs — especially because the costs associated with their products are much too high to handle.

Payday Loans in Fremont
High interest? Short term? No, thank you!

In order to get a payday loan, the most a person usually has to do is sign a post-dated check to the lender. After the person’s next payday, the lender cashes the check and everyone goes home. But not exactly. Because these loans come with high interest rates and short payment terms, many people who take them out can’t afford to pay them back on time. That’s where the cycle of debt begins.

By 2008, predatory lending in Ohio had gotten so out of hand that lawmakers passed a bill aimed at scaling it back. Lenders could no longer issue loans with terms shorter than 31 days, with annual percentage rates (APRs) higher than 28% and for dollar amounts larger than $500.(2) However, the new law had some loopholes in it that allowed payday and title lenders to keep issuing loans with terms as short as 14 days and with APRs over 600%.(3) Borrowers in Ohio are also at risk from payday lenders that lend online.(4) In 2014, the Ohio Supreme Court ruled to uphold the loopholes.

For someone who needs a loan in Fremont to cover unexpected expenses, there are better options available than taking out a payday loan. To lodge a complaint against a payday lender in Fremont, or if you would like more information, please contact the Ohio Department of Commerce, Division of Financial Institutions at (866) 278-0003 or the Consumer Financial Protection Bureau at (855) 411-2372.

Subprime Reports

See more local Ohio Subprime Reports below:
Akron Payday Loans | Canton Payday Loans | Cincinnati Payday Loans | Cleveland Payday Loans | Columbus Payday Loans | Dayton Payday Loans | Freemont Payday Loans | Lima Payday Loans | Springfield Payday Loans | Toledo Payday Loans | Youngstown Payday Loans


  1. “The Ohio Poverty Report: February 2016.” Ohio Development Services Agency, Research Office. Accessed February 19, 2016.
  2. Candisky, Catherine, Ludlow, Randy. “Court sides with payday lenders.” The Columbus Dispatch. Accessed February 17, 2016.
  3. “Ohio’s Payday Lending Landscape: New law, same old loans by Policy Matters Ohio.” Consumer Federation of America. Accessed February 17, 2016.
  4. “Fraud and Abuse Online: Harmful Practices in Internet Payday Lending.” The Pew Charitable Trusts. Accessed February 17, 2016.
  5. Mayeker, Ram. Zimmerman, Terry. “Consider Alternatives Before Obtaining Auto Title Loan.” Accessed February 17, 2016.
  6. “Chapter 4727: PAWNBROKERS.” LAWriter: Ohio Laws and Rules. Accessed February 17, 2016.
  7. Ohio Subprime Report

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