Rockford Payday Loans: Subprime Report
An OppLoans Guide to Getting The Help You Need in Rockford and Winnebago County

Rockford is a place of natural beauty, significant cultural history and industry. The third largest city in Illinois, the “Forest City” has continually changed, improved and rolled with the punches of an often turbulent economy.

If you’re a resident of Rockford or Winnebago County, you may be dealing with some of the same issues as many of your neighbors. Whatever form of financial hardship you’re facing (unemployment, foreclosure, difficulties associated with addiction, etc.), Rockford has a significant number of resources available to residents. OppLoans has compiled the following list of programs and tools for your review and use.

Borrowing Money in Rockford: Dangerous Borrowing Practices

For people with weak (or no) credit, there exists an entire of industry of high risk lending. These are typically the payday storefronts, pawnshop and car title lenders. You can find a large number of storefront lenders in Rockford who offer quick money now but can trap you in a vicious cycle of debt that can last for years.

Payday loans in Rockford

Payday loans are offered online or in person throughout Rockford and Winnebago County. Taking out a payday loan usually means taking out a small amount of money to cover expenses between paychecks. While it looks like a quick and easy way to get cash now, the loan is structured in such a way so that paying it back is exceedingly difficult. Very high interest rates and the short term cycle create an unsustainable cycle of debt that can become impossible to pay.

If you’re considering payday loans in Rockford, you should know the details. Check out the Payday Loan Consumer Information site, which offers facts, research, and consumer help. This site also shows the laws that payday lenders must follow in each state. In Illinois for instance, the maximum amount you can borrow is 25% of your monthly income, up to $1,000. The highest APR they can charge in Illinois is 403%.(2)

The rates and fees for payday loans are very high, which is one way people get trapped. Payday lenders rely on customers not being able to pay on the due date, so they can make more money by having the customer “roll over” the loan. According to the New York Times, “Millions of borrowers have become entrapped in situations where a supposed two-week loan rolls forward for an average of five months, according to research.” (3) Luckily, in Illinois rollover is not permitted, however you can be charged collection fees.(2)

If you’re currently dealing with a payday loan and you need more information, or have a complaint, contact the Illinois Department of Financial & Professional Regulation at 888-473-4858 or the Consumer Financial Protection Bureau at 855-411-2372.

OppLoans in Rockford – A Better Personal Loan

If you need fast and affordable help to get out of a tough financial situation, consider a personal installment loan with OppLoans. We offer cash loans in Rockford and Winnebago County to help with your specific situation. 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.

OppLoans offers personal installment loans from $1,000 to $10,000 and the flexibility of paying them back over 6 to 36 months. We’ll work with you to provide affordable payment options that fit into your monthly budget. We will never charge prepayment, origination or application fees. In addition, our interest rates are usually 70-125% less than other personal loans.

For questions about OppLoans rates, terms, and eligibility contact the OppLoans Support Team by phone at (800) 990-9130, Monday – Friday 7am to 7pm or Saturday 9am to 4pm central time. Or email us at

Guides to Payday Loans in Illinois Cities

See more local Illinois guides below:
Chicago | Peoria | Rockford | Springfield


  1. “Welcome to Rockford, Ill, the Underwater Mortgage Capital of America” The Wall Street Journal. Accessed January 21, 2016.
  2. “Illinois State Information” Payday Loan Consumer Information. Accessed January 5, 2016.
  3. The Editorial Board. “Cracking Down on Predatory Payday Lenders” The New York Times. August 29, 2013. Accessed January 5, 2016.
  4. Alop, Alan. “Payday Loans and Title Loans.” Illinois Legal Advocate. November, 2009. Accessed January 5, 2016.
  5. “Consumer Guide to Auto Title Lending” Illinois Department of Financial and Professional Regulation, Division of Financial Institutions. Accessed January 5, 2016.
  6. Moore, Natalie. “Chicago Pawnshops: How Many is Too Many?” WBEZ. December 1, 2011. Accessed January 6, 2016.
  7. “Tips for Buying and Selling at a Pawn Shop” July 19, 2011. Accessed January 6, 2016.

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