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Payday Loans in New Hampshire

It's well documented that financial anxiety is one of the primary things that more than 70 percent of Americans are plagued by. Indeed, we could all agree that one of the things that causes the most stress in our life is our money, especially its shortage. 

When you are experiencing tough times with money, finding the way out can be quite hard. If you are striving financially, asking for a helping hand may be the right choice. Short-term emergency loans in New Hampshire, well-known as payday loans, provide you a fast infusion of cash to help ease financial stress between paychecks.  


A Quick Cash Loan: Is it a Blessing or a Curse?


When you are cash-strapped, you might be looking for a quick fix in terms of getting extra money. Payday loans may seem a tempting offer to make your ends meet quickly and securely. 

A payday loan is a type of cash advance loan designed to be a short-term financial relief. These loans are so-named because they should be settled upon the borrower's next payday. Many Americans consider payday loans as a slippery slope leading to a never-ending debt cycle. At the same time, others rely on these loans as a fast method of getting additional funding.


Things to Consider before Applying for a Payday Loan in New Hampshire


Compare requirements, rates, and terms across multiple lenders to determine whether those criteria fit your profile. Speaking of rates, your credit interest rates can be determined based on a couple of factors, such as your financial capability and the state regulation.

When you apply for a loan, you might notice that APR is actually higher than what is quoted in the interest rate. That's mostly because APR also includes additional fees that might come with a loan. So the APR is more of an accurate estimation of how much you might end up paying. 


Payday Loans for Bad Credit


If you have bad credit, then your loan application is more likely to be rejected by traditional lenders. You may choose to work on credit repair and qualify for a personal loan later on. Or you may turn to specific lenders, also referred to as bad credit lenders, to pick up a payday loan for bad credit. Bad credit loans might come with higher interest rates, but sometimes it's better than nothing when you're short of money. If you only need a small amount and you can pay it off really quickly, then the payday loan is an excellent choice for you. 


Tips to Get the Best Payday Loan

  • Firstly know how much you need to borrow because the interest rate and fees can quickly add up. 

  • Determine how much you can afford to pay to avoid credit renewals. 

  • Understand your credit history because your loan terms are highly dependent on your credit rating.

  • If you have bad credit, then you might look for some specific lenders.

  • Compare multiple offers from different lenders and determine which fits you the most. 

  • When you find your best option or lender that matches all your criteria, just go ahead and apply. 


As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.

Regulations of Payday Loans in New Hampshire
Status     Legal (restrictions apply)
Annual Percentage Rate (APR)     36% small loan cap
Minimum Loan Amount     N/A
Maximum Loan Amount     $500
Minimum Loan Term     7 days
Maximum Loan Term     30 days
Number of Rollovers Allowed     N/A
Finance Charges     $1.38 for a $100 loan given for 2 weeks
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

Payday lending in New Hampshire is regulated by N.H. Rev. Stat. Ann. 399-A:1 et seq.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
More information about payday loans in New Hampshire can be found on the official website of the New Hampshire Banking Department.

[ Updated on 19-Aug-2021, 23:36 ]

We've been in the industry for more than six years.