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

Getting the help you need isn’t always easy. Day-to-day life can be a struggle if you aren’t sure how to keep up with the bills, pay for food or find proper shelter. Unfortunately many people living in Dayton struggle with things like this every day. It can be difficult to get help if you don’t know where to look. But rest assured, if you live in Dayton, there are many programs and organizations that can help.

Borrowing Money in Dayton

You may not fall into the categories above. Perhaps it would help your situation to have cash on hand, rather than the help of a social service. In that case, a loan may be the solution you need. But be careful, there are many loans out there that could end up making your situation worse. High rates and unreasonable terms lead to a cycle of debt for borrowers. It’s important to know what to watch out for when shopping for a cash loan.

Payday loans in Dayton
Fast cash that usually leads to fast debt.

If you’re considering a cash loan in Dayton, you’ve probably heard of payday loans. Also known as cash advance loans, these are a risky option for anyone. They’re high-cost, short-term loans that can often be predatory in nature. It may seem appealing if you’re in a bind, as they advertise “speedy cash” or “emergency cash in a hurry”, but odds are they’ll do more harm than good.

How payday loans work is rather simple. You provide the lender with a check dated for your next payday. The check will be for the amount you’re borrowing, plus additional interest and fees. They will provide you with a cash loan, and on your next payday they will cash your check to get their money back. The process is easy enough, but is it safe? No, not quite.

The problem with these loans is that the interest rates are extremely high, which makes it difficult to pay them back on time. In a Dayton Daily News article, Tim Brandon, a spokesman for Graceworks Lutheran Services Consumer Credit Counseling Service says “…the combination of high interest rates and low incomes of most payday borrowers can quickly lead to a cycle of debt that’s worse than the financial problems that led them to seek out a loan in the first place.” The article also states that there are 836 payday loan storefronts in Ohio that generate more than $500 million in fees every year by charging annual rates of over 300%.(2) Needless to say, this is a very expensive and dangerous way to get cash in Dayton.

Subprime Reports

See more local Ohio Subprime Reports below:
Akron Payday Loans | Canton Payday Loans | Cincinnati Payday Loans | Cleveland Payday Loans | Columbus Payday Loans | Dayton Payday Loans | Freemont Payday Loans | Lima Payday Loans | Springfield Payday Loans | Toledo Payday Loans | Youngstown Payday Loans


  1. “Poverty Rates in Dayton” Accessed February 19, 2016.
  2. Tucker, Randy “Ohio Payday Lenders Thrive Despite Interest Rate Caps” Dayton Daily News. November 12, 2015. Accessed February 19, 2016.
  3. “Car-title Loans and What You Can Lose” Ohio Attorney General. June 12, 2013. Accessed February 22, 2016.
  4. “How Does a Pawnshop Work in Ohio” Pawn Nerd. Accessed February 22, 2016.
  5. Ohio Subprime Report

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