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

Life in Columbus can be pretty nice. The city is affordable, walkable and filled with arts, sports and culture. In 2015, rated Columbus as one of the five best cities in America for millennials. But still, there are people in Columbus who struggle. These are folks whose incomes are low and whose savings are even lower. They often have poor credit scores and less-than-ideal credit histories, which cuts them off from financial tools that could help them in a time of crisis. And some of these people have issues beyond just a low income; they are dealing with addiction, mental illness, poor health or domestic abuse. Luckily, there are places in Columbus where they can get help. From personal loans to government agencies to non-profits, there’s always a place to find some assistance.

Borrowing Money in Columbus

When your car hits a telephone pole or your kid’s arm hits a fence post, there are going to be costs.

Emergencies are expensive, and for people who have low incomes those expenses can be devastating. These people are often unable to save much for an emergency fund and they rarely have access to traditional personal loans. For many of these people, it seems like the only option is to visit a payday loan store, take out a title loan on their car or start pawning their jewelry for cash. Unfortunately, many of these kinds of loans are actually quite predatory. There are payday lenders, title lenders and pawn shops that will take advantage of their customers and drive them into a cycle of debt. There are better options out there to cover unforeseen expenses. Take some time right now to learn more about predatory lenders and you can save yourself a whole lot of money down the line.

Payday Loans in Columbus
You could end up owing over six times what you were originally loaned.

Payday loans are short-term loans that are meant to be paid back within a few weeks. But they also usually come with lots of fees and high interest rates that make them difficult to repay on time. They are easy to secure — usually not even requiring a credit check — but they can be very hazardous to the borrower’s financial health.

In 2008, Ohio passed a law that put severe limits on payday lenders. They capped the amount borrowed at $500, set a minimum term of 31 days and restricted the annual percentage rates (APRs) to a maximum of 28%. However, payday lenders in Ohio found several loopholes in this law that allowed them to issue loans with shorter, 14-day terms and charge APRs that were well above 600%.(1) A 2014 ruling by the Ohio Supreme Court upheld the loopholes(2) and these predatory lending practices extend to online payday loans as well.(3)

For borrowers in Columbus, a payday loan could lead to them paying far more in fees and interest than they were originally loaned. If you have a complaint against a payday lender in Columbus, or 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.

Personal Installment Loans in Columbus
You should get a loan that works for you, not the other way around.

It’s always good to have options, especially when it comes to paying for unforeseen expenses. Luckily, people in Columbus with less-than-perfect credit don’t have to choose between only payday, title and pawn shop lenders. They can choose something better. They can choose OppLoans.

Our personal installment loans range from $1,000-$10,000 and they come repayment terms from 6 to 36 months. Our loans also have interest rates that are 70%-125% less than other personal lenders and don’t carry any origination or prepayment fees. Once you sign for your loan, your rate is fixed and will never change. What all this means is that you get more time to pay back your loan with monthly payments that fit your budget.

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.

A personal installment loan from OppLoans can help build your credit history. To apply for a loan, just fill out our easy online application. If you’re approved, you can have your money as early as the next business day.

Ohio Subprime Reports:

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


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

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