Waco Payday Loans
Apply online and get money in your account as soon as tomorrow.

Waco, Texas is a quaint city with a lot to offer. From the Brazos riverfront to downtown to McLane Stadium and beyond, the seat of McLennan County is a picturesque Texas town. Life can, and should be good here. Sadly though, there are people in Waco whose lives are complicated by extremely difficult financial situations. Many residents of Waco struggle just to pay bills and put food on the table. In fact, nearly a quarter of the city’s residents live below the poverty line.(1) But even if you’re financial situation seems hopeless, there are many options in Waco.

Borrowing Money in Waco

The list above is helpful for finding specific social services, but what if you have another kind of emergency and need money quickly? This is when most people decide to pursue a loan. If you live in Waco, there are options for getting cash fast. But it’s important to know that there are many predatory lenders that profit from high-cost, dangerous loans. Make sure you understand all the rates and terms associated with a loan before you decide to take one on.

Waco Payday Loans
Quick cash may create more financial emergencies.

Fast cash sounds good when you’re in a tight spot. But taking out a risky loan always spells trouble later on. Payday loans are all over Waco, online or through storefront lenders. Getting quick cash is relatively easy, but if you pursue one of these high cost, short term loans you’ll learn the cost of payday lending in Texas.

In a payday loan, you promise to repay the amount with your next paycheck. But these loans also have extremely high interest rates and fees; they are usually only two weeks to a month long. This means that you don’t have a lot of time to pay off your balance. That’s when these loans get expensive for you, and extremely profitable for the lender.

Because of the short terms and high interest rates, a lot of people are unable to pay back these loans on their due date. This leads to “rollover”. Rollover means paying additional fees to extend a loan. Payday loans are supposed to last a couple of weeks or a month, but the Consumer Financial Protection Bureau says that payday borrowers are in debt for an average of 11 months or longer.(3) The longer you extend or “rollover” the loan, the more you end up paying.

And in the state of Texas, there are hardly any regulations to control these dangerous loans. In Texas you’ll see average APRs for payday loans with rates at around 457-522% for loans lasting 19-152 days.(4)

If you’re a resident of Waco, Texas and you’re in a difficult financial situation, remember that payday loans will cost you about double what they would in other states.3 Don’t take out a loan that will leave you deeper in debt. Contact the Texas Fair Lending Alliance with any questions or concerns about payday loans in Waco.

OppLoans Online Loans

Apply for a loan online at OppLoans, get money in your account as soon as tomorrow, and pay back the loan in monthly installments. OppLoans is a state licensed, direct hard-money lender.

Subprime Reports

See more local Texas Subprime Reports below:

Arlington Payday Loans | Austin Payday Loans | Dallas Payday Loans | El Paso Payday Loans | Fort Worth Payday Loans | Houston Payday Loans | Irving Payday Loans | Killeen Payday Loans | McAllen Payday Loans | Plano Payday Loans | Round Rock Payday Loans | San Antonio Payday Loans | Tyler Payday Loans | Waco Payday Loans


  1. “Waco, Texas Poverty Rate Data” Accessed March 7, 2016. https://www.city-data.com/poverty/poverty-Waco-Texas.html
  2. “Veteran Homelessness Facts” Green Doors. Accessed February 25, 2016. https://www.greendoors.org/facts/veteran-homelessness.php
  3. Wheeler, Jason. “The Debt Trap: The cost of payday lending in Texas” WFAA8 ABC. February 7, 2015. Accessed February 17, 2016. https://legacy.wfaa.com/story/money/personal-finance/
  4. “Pulling Back the Curtain: Shining a Light on Payday and Auto Title Loan Businesses in Texas.” Texas Appleseed. Accessed February 9, 2016. https://www.texasappleseed.org/sites/default/files/Pulling Back the Curtain_0.pdf
  5. “FAQs” Texas Fair Lending Alliance. Accessed February 9, 2016. https://www.texasfairlending.org/resources/faqs/
  6. “Texas Pawnshop Rate Chart – July 1, 2015 to June 30, 2016 Only.” Texas Office of Consumer Credit Commissioner. Accessed February 9, 2016. https://occc.texas.gov/sites/default/files/uploads/interest/p-rate-16.pdf

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