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

Keeping your finances in order is not an easy task. Having an unexpected bill or medical emergency can make it even more difficult. And although Toledo is a great city with art, industry and beautiful views of Lake Erie, it’s still home to many people who struggle with tough financial situations. It may seem difficult to get the help you need, and it might even feel like there’s no way out. But if you’re struggling with finances, substance abuse or homelessness in Toledo, there are services that can provide the assistance you need.

Borrowing Money in Toledo

Sometimes you just need cash on hand to solve a problem. A broken down car, home heating repairs or an unexpected medical bill are all situations that can require some extra cash. In times like these it might make sense to seek out a cash loan in Toledo. But do your research first, because there are a lot of companies that are out to take advantage of you.

Payday Loans in Toledo
An expensive and risky way to borrow.

Getting a payday loan in Toledo is quick and easy. And that’s what these predatory lenders rely on. Although it may be a convenient way to get speedy cash, it may also be a risky and dangerous road to a lifetime of debt. So if you’re looking for a cash loan in Toledo, you’d be wise to find another option.

A payday loan is a small, short-term, high-interest loan that the borrower returns with their next paycheck. Typically the lender will require you to leave a check with them that is dated for your next payday. The check will be for the amount you’re borrowing as well as any additional interest and finance charges. Once that date arrives, the lender will cash the check. Sounds pretty simple right? Well, it isn’t.

The problem with these costly loans is that the interest and fees are so high, it becomes difficult to pay it off. This is why, in 2008 a law was passed in Ohio which restricted these predatory lenders. The law states that the most anyone can borrow from a payday lender is $500, for no less than 31 days, with an APR no higher than 28%. This all sounds pretty good. Unfortunately payday lenders in Ohio have found a loophole that lets them issue loans for shorter terms (14 days) and interest rates as high as 600%.(3) Which means payday loans in Ohio are still as risky as ever, but they might go by a different name.

If you’re in need of fast cash, make sure to consider all your options. There are much safer ways to borrow money. If you have questions or complaints about a payday loan in Toledo, reach out to the Ohio Department of Commerce or the Consumer Financial Protection Bureau.

Personal Installment Loans in Toledo
Better terms, better rates, better personal loans.

Being in a financial bind can take a toll on anyone. Rest assured, there are ways to get the cash you need, and the terms you deserve. OppLoans’ personal installment loans have longer terms (6-36 months), low interest rates (usually 70-125% less than other personal loans) and fixed-rate payments. And our loans range from $1,000 to $10,000, so you can find an option that fits your needs and won’t break the bank.

OppLoans always delivers 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 credit-building personal loans that help you finally take control of your finances. If you have less-than-perfect credit and you need a cash loan, apply online or call us at (800) 990-9130, Monday – Friday 7am to 7pm, or Saturday 9am to 4pm central time.

Ohio Subprime Reports:

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


  1. “Toledo, Ohio Poverty Rate Data” 2013. Accessed February 23, 2016.
  2. “Consider Alternatives Before Obtaining Auto Title Loan” Ohio State Bar Association. Accessed February 24, 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. “Chapter 4727: PAWNBROKERS.” LAWriter: Ohio Laws and Rules. Accessed February 17, 2016.
  5. Ohio Subprime Report

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