We’ve aggregated more than 7 thousand local offices from the most popular lenders.

List of Top10 Online Payday Lenders

Payday loans organizations are generally known to offer short-term loans meant to hold people till their next paycheck arrives.

Typically, payday loans are only offered in modest quantities of money, which is not up to the amount of money you can borrow from a bank.

Payday loan organizations are appealing due to the fact that, in addition to offering quick cash, they do not need a credit check.

History

However, the emergence of payday loan organizations on the market is traced back to the US in 1980.

The underlying notion of high-interest short-term loans dates back millennia, with alternatives to accept the big risk of loans with high interest.

Payday loan companies may appear to be a relatively recent business. Until recently, the sector in its present state was considerably small.

Approximately 200,000 individuals utilized short-term loans in 2006.

The payday loan organization was valued at over $2.5 billion in 2012, thanks to massive turnover. Nonetheless, payday loan organizations all began long before 2006.

Payday loan organizations and some other lending institutions have found it simpler to set up a base around both rural and urban areas as a result of the challenges with high street firms.

The difficulties that many people face when trying to borrow money through old methods have fueled the expansion of payday loan organizations since the year 2008.

The overpopulation of local and international markets has sparked questions about the function of payday lenders and how they should be regulated, with several worldwide variants.

How Many Organizations are in the US Market?

Currently, there are around 4300 organizations listed in the US market. 

The number of publicly-traded organizations on the US market is a leading indicator of the stock market’s performance.

A higher figure indicates that more businesses rely on equity funding.

The number of publicly-traded organizations in the United States and other nations shows economic growth. Note, stronger economies tend to have more organizations.

How Many Payday Loan Stores are in the US Market?

Long ago, payday loan stores have been promoted as a convenient option for most people, especially small-scale businessmen to borrow money in between paychecks.

Currently, there are 23,000 payday loan stores in the US market, which is more than double the population of McDonald’s restaurants.

While payday loan stores attract a wide range of people living in the United States, they primarily focus on groups that are traditionally vulnerable.

Payday loans are most common among individuals without renters, a college diploma, those making not up to $30,000 per year, and the couples who are divorced.

The state of California has the most payday loan stores, with a total number of 2,451, which is quite more than the total number of payday loan stores in other states in the United States.

After California, the next state with the highest payday loan stores is Texas, with a total number of 1,675 payday loan stores, which spread across the state. 

After Texas, the next state in the US with the highest payday loan stores is Tennessee, with a total number of 1,344 stores. 

After Tennessee, the next state with the highest payday loan stores is Mississippi, with a total number of 1,100 states.  

The main reason why there are more payday stores in states like California is that there are large numbers of people who request for loans.

List of Top10 Online Payday Lenders

• SpeedyCash
• TitleMax
• AdvanceAmerica
• CheckNGo
• CashExpress
• LendNation
• ApprovedCash
• AmeriCash Loans
• Check City
• Allied