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

Life has its share of unexpected challenges, including financial challenges. For a lot of us, an unexpected hardship like the loss of a job or a medical bill can make it difficult to pay rent or put food on the table. And it can be even more difficult if you can’t get a loan from a traditional bank or don’t have a credit card. Not to worry, there are organizations in Cleveland here to help people in desperate or difficult financial situations.

Borrowing Money in Cleveland

Maybe you need cash for another reason all together. If so, you still have options. Cleveland has countless storefront and online companies that offer loans to people who need them. But some of these loans can be quite risky.

Many loans carry high fees and the danger of falling deeper into debt. In a dire financial situation, these loans may seem like the answer, but they could make things worse. Below are some of the loans that you should watch out for. Educate yourself, and learn The Truth about Payday, Pawnshop, and Car Title Loans.

Payday loans in Cleveland
A risky and often predatory loan.

Payday loans offer cash fast but most likely it’s not worth the risk. You can get these loans online or in person all over Cleveland. Usually these loans get you a small amount of cash when you promise to repay the loan by your next payday. Payday loans are convenient for quick cash in a pinch, but they often prey on people with low incomes.

Before pursuing a payday loan, get details and information by visiting the Payday Loan Consumer Information site, which provides facts, research, and consumer help. The site also explains the laws that govern payday loans in each state. In Ohio the maximum amount you can borrow is $500 and the highest APR that lenders can charge for a 14-day loan is 28%.(3)

Payday loans have extremely high rates and fees causing many people to get trapped in these loans. Payday lenders make money by having customers “roll over” the loan. Meaning they benefit when a customer cannot repay the loan at the agreed upon due date and is forced to extend it. Fortunately in Ohio, rollover is not permitted, but you can be charged collection fees. 3

If you’re dealing with a payday loan, you need more information or have a complaint, contact the Ohio Department of Commerce or the Consumer Financial Protection Bureau at 855-411-2372.

Personal Installment Loans in Cleveland
A long-term loan that can improve borrowers’ credit.

For a fast and affordable loan that can help in a difficult financial situation, consider a personal installment loan with OppLoans. We provide cash loans in Cleveland to help you in your time of financial need. OppLoans offers 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.
  • Fair/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

Ohio Subprime Reports:

See more local Ohio guides below:
Akron | Canton | Cincinnati | Cleveland | Columbus | Dayton | Freemont | Lima | Springfield | Toledo | Youngstown


  1. “Veteran Homelessness Facts” Green Doors. Accessed February 19, 2016.
  2. “Home Insecurity” Ohio Policy Matters. Accessed February 22, 2016
  3. “Ohio State Information” Payday Loan Consumer Information. Accessed February 19, 2016.
  4. Dewine, Mike. “Car Title Loans and What You Can Lose.” Ohio Attorney General. June 22, 2013. Accessed February 19, 2016.
  5. “Tips for Buying and Selling at a Pawn Shop” July 19, 2011. Accessed January 6, 2016.
  6. “Ohio Laws and Rules.” Law Writer. Accessed February 19, 2016.
  7. Ohio Subprime Report

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