San Antonio, TX Payday Loans Lenders

Payday Loans in San Antonio

All legal types of business activities are welcome in San Antonio, including payday lending. As long as payday lenders are legal in Texas, and there is always someone out there in need of quick money, they have jobs to do here. In terms of the number of payday lending companies, San Antonio is only second to Houston in Texas. There are five large companies with 76 offices distributed across the city: Speedy Cash, Advance America, Check’n Go, Ace Cash Express, and Quik Cash.

Legal Aspects of Payday Loans 

City Ordinance in San Antonio

• Ordinance No. 2012-09-20-0739 (Changes to Chapter 16: XVI Article, Section 16-901, 16-913 )
  • Approved on September 20, 2012
  • Signed by Leticia M. Vacek (City Clerk), Michael Bernard (City Attorney), Julian Castro (Mayor)

This ordinance determined the following rules for the operation of payday loan lenders in San Antonio:

• The lender must have a special license to operate in the city and renew it annually;
• Payday loans should not exceed 20% of the borrower’s gross monthly income;
• The minimum extension period (renewal or rollover) between loans is 7 days;
• Installment payments should not exceed 4 times;
• Every installment payment is a minimum of 25% of the principal amount;
• Rollovers should not exceed 3 times;
• The contract must be written in an understandable language;
• The lender must provide the consumer with useful information about financial education.

Payday Loans Complaints in San Antonio

City of San Antonio Credit Access Business Administration
1. By phone: 210-207-1318
2. Send complaint form to P.O. Box 839975, San Antonio, TX 78283-3975

San Antonio Payday Loan Stats

As of April 1, 2021, in San Antonio work 81 payday loan stores:

• AceCashExpress (AceCreditAccessLLC); 20 stores;
• SpeedyCash (HemoneyStoreLP): 17 stores;
• TitleMax (TitleMaxofTexasInc): 16 stores;
• CheckNGo (SouthWestern&PacificSpecialtyFinanceInc ): 9 stores;
• AdvanceAmerica (AcsoOfTexasLP): 7 stores;
• SpeedyCash (ScilTexasLLC): 5 stores;
• ActionExpressLoans: 1 store;
• TheCashStore (CotTonWoodFinancialTexasLP): 1 store;
• QuikCash (QCFinancialServicesOfTexasInc); 1 store;
• TexasCarTitleandPaydayLoanServices INC: 1 store;
• LoanStarTitleLoans (WellShireFinancialServicesLLC): 1 store.

• In the 2019 year, in San Antonio MSA stores (payday loans and auto title loans) made:
  • The amount of new payday loans: $73 mln;
  • Fee charges: $98 mln;
  • Refinances: $78 mln;
  • the average loan term for a single payday loan was 18 days;
  • the average loan term for an installment payday loan was 152 days;
  • the average fee for every $100 single payday loan was $20;
  • the average fee for every $100 installment payday loan was $159.

Office Locations vs Household Income

San Antonio is a major city in south-central Texas that has around 80 payday loan lending centers. The number is large. But why does it have such a great number of payday loan centers? Let’s analyze it through the map.

The northwestern side has a greater number of loan stores where the average household income is $40,000. Parts of the city like Alamo Heights, Terrell Hills, and the Quarry Golf course have an average household income of around $100,000. And there are fewer loans centers in that area. In addition to that, the south-southwest area has an average income of $45000, with no loan centers nearby. The area around St. Mary’s University has a lower average house income i.e., $30,000 with a fewer number of loan centers. The area around Castle hills, and Vance Jackson has an average household income of more than $100,000 with 5 to 7 loan centers nearby. The Eastside of San Antonio city has an average low income of $25000 with an average number of payday loan lending stores. To conclude, it can be seen from the map that there is no direct or inverse relation exists between household income and the number of payday loan centers in the city. There are areas where the average income is higher and the loan centers are also in greater number and vice versa. There are also areas like the eastern side that have an average low income and the loan centers are also in average number.

Financial Assistance in San Antonio

• Financial Empowerment Centers – call: (210)207-6000
• Office of Financial Empowerment – call: (210)207-5910
• Family Assistance Centers – call: (210)207-7830

Some official sources of data we used to build this page: