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✓ Legal & RegulatedReviewed: 2025-08

OhioLoan Laws & Regulations

Official regulatory reference for borrowers and lenders in Ohio. Includes permitted loan types, APR caps, lender licensing requirements, borrower rights, and government source links.

Max Loan
$1,000
Typical APR
28% APR + Monthly fees
Max Term
1 year
Legal Status
Legal & Regulated (Fairness Act)
Payday LoansPersonal LoansCash AdvanceInstallment LoansBad Credit LoansSame-Day LoansNo Credit Check Loans

Ohio Lending Regulator

Primary Regulator
Ohio Department of Commerce
https://com.ohio.gov/divisions/financial-institutions

The Ohio Department of Commerce oversees consumer lending in Ohio, including licensing, enforcement, and consumer complaint resolution. Before borrowing from any lender, verify their license using the official regulator lookup tool linked above.

Loan Types Permitted in Ohio

  • Short-term loans (Ohio Fairness Act)
  • Installment loans
  • Personal loans

APR & Fee Rules

APR Cap
28% interest + 10% loan origination fee; total cost effectively caps around 60% APR for 3-month loans
Fee Rule
Monthly maintenance fee up to the lesser of $30 or 10% of original loan amount. One origination fee per loan.
Loan Term
91 days minimum, 1 year maximum (except if total monthly payment ≤6% of gross monthly income)
Max Loan Amount
$1,000
Rollover / Renewal Rules
Prohibited under the Ohio Short-Term Loan Act (2019 Fairness in Lending Act, HB 123).
Representative Example
A $1,000 loan for 3 months in OH may cost $150-$200 total. Representative APR: 110%.

Lender Licensing Requirements

Ohio Department of Commerce Short-Term Loan Act license required. Lenders must be licensed as Ohio Short-Term Lenders.

How to verify a lender is licensed:

Visit the Ohio Department of Commerce's license lookup tool at https://com.ohio.gov/divisions/financial-institutions and search by company name or NMLS ID. Never borrow from an unlicensed lender.

Required Lender Disclosures

Under Ohio law, any licensed lender must provide the following disclosures before you sign:

  • →Written agreement with total repayment, APR, all fees, and monthly payment schedule
  • →List of Ohio DFPB-approved non-profit credit counseling agencies
  • →Notice of 3-day rescission right

Your Borrower Rights in Ohio

  • 3 business days to rescind without penalty
  • Right to repay early without prepayment penalty
  • Extended repayment plan option at borrower request
  • Complaint: Ohio Department of Commerce Financial Institutions (614) 728-8400

Payday Loan Alternatives in Ohio

  • ✓Ohio credit union PAL (Payday Alternative Loan) programs
  • ✓Ohio Development Services Agency emergency home repair assistance
  • ✓Community Action Agencies for emergency utility/rent assistance

PrimeLendings connects you with licensed lenders offering personal loans in Ohio — typically with lower APRs than payday products. View personal loan options in Ohio →

Ohio Lending FAQ

Are payday loans legal in Ohio?▼
Yes. Payday loans are legal and regulated in Ohio under the oversight of the Ohio Department of Commerce. Current APR range: 28% APR + Monthly fees. Maximum loan: $1,000.
What is the maximum payday loan I can get in Ohio?▼
The maximum short-term loan amount in Ohio is $1,000. A $1,000 loan for 3 months in OH may cost $150-$200 total. Representative APR: 110%.
Who regulates payday lenders in Ohio?▼
The Ohio Department of Commerce is the primary state regulator. You can verify any lender's license at https://com.ohio.gov/divisions/financial-institutions. Unlicensed lenders operating in Ohio are illegal — always verify before borrowing.
What are the alternatives to payday loans in Ohio?▼
Ohio credit union PAL (Payday Alternative Loan) programs; Ohio Development Services Agency emergency home repair assistance; Community Action Agencies for emergency utility/rent assistance

Official Government Sources

Source data verified from official government and regulatory publications. Last reviewed: 2025-08. Laws change — verify current requirements directly with the Ohio Department of Commerce before relying on this information.