North Carolina Payday Loan Alternatives
- Easy application process
- No minimum credit score to apply
- Loans from a direct lender
- Up to $5,000 for emergencies
- Same-day funding options
Why Trust Us?
1F Cash Advance has been providing emergency loans since 2019. We are licensed and operate under state laws. Over 140,305 consumers have already benefited from our services, both online and in stores.
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If you face unexpected expenses in North Carolina, 1F Cash Advance is here to provide emergency assistance. We can help you avoid predatory payday loans by offering unsecured, safe, and legal alternatives that suit both your short-term and long-term needs. Apply online, over the phone, or at a store and get the money you need today.
Why Are Payday Loans Banned in North Carolina?
Payday loans, also known as cash advances, are small, short-term loans people use to cover emergency expenses till the next paycheck. They typically offer up to $1,000 and must be repaid within 2 to 4 weeks. While these loans are fast and accessible with bad credit, they also come with very high APRs, from 390% to 780%.
In 2001, The North Carolina General Assembly passed a law that banned all payday loan businesses in the state to protect residents from predatory lending practices and potential debt cycles often associated with payday loans. All North Carolina lenders must adhere to a small loan APR cap of 36%.
Legal Alternatives to Online Payday Loans
If you need quick cash but don’t qualify for traditional financing, several bad credit loan options are still available in North Carolina.
Personal Installment Loans
An installment loan from 1F Cash Advance is a flexible financial solution that allows you to get up to $5,000 with the ability to repay in affordable installments over up to 24 months. This option can help you cover unexpected bills and car repairs, make home improvements, or overcome emergencies. There are no minimum credit score requirements.
Credit Union Salary Advance Loans
A salary advance loan from a credit union can help members get the extra cash they need when a paycheck isn’t coming right away. This option may come in the form of a payday alternative loan (PAL) or an open-ended line of credit. PALs come with an APR cap of 28%. The amount you can get is usually up to $1,000, and the repayment can be made within 1 to 6 months.
Online Personal Loans
Personal loans from online lenders allow you to borrow up to $50,000 for a maximum period of 84 months. Unlike traditional financial institutions, online loan providers often accept borrowers with less-than-perfect FICO ratings. However, you need to meet certain income and credit score requirements to qualify.
Employer Paycheck Advances
A paycheck advance from your employer is a smart way to get a portion of your future pay upfront. This option usually comes with no extra interest and fees, and the amount you get will be deducted from your next paycheck.
Cash Advance Apps
Cash advance apps provide small loans of up to $500 against your next salary via your smartphone. These tools are typically interest-free, but subscription fees and optional tips may apply. The repayment needs to be made in full in 2 to 4 weeks via an electronic money withdrawal from your bank account.
How to Apply for a Loan?
1F Cash Advance has an easy loan process you can complete in just 3 simple steps:
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Request a loan. Complete our online form, visit a store near you, or call (984) 205-5285 to apply over the phone.
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Get approved. Our loans may come with an instant approval decision due to no hard credit check involved in the process.
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Receive the money. If approved, sign the documents and receive the funds as soon as the same* or next business day.
*Loans originated before 10:30 am ET on weekdays can be funded on the same day. Applications submitted after 10:30 am ET or on weekends will be processed on the next banking day.
What Do I Need to Qualify?
We only ask for the basic documents and information to make your application smooth:
- Government-issued photo ID
- Proof of North Carolina address
- Active bank account and routing numbers
- Recent pay stubs or other proof of income
- Valid email and phone number
- Social Security number
How to Borrow Money Safely
Your safe borrowing experience starts with assessing your financial situation, the terms of your loan, and the lender’s reputation. Here are a few tips to follow.
Request Only What You Need
Don’t borrow more than is needed to meet your current loan purpose. An excessive loan amount results in unnecessary debt and more interest paid over time.
Budget for Repayment
Only take out a loan if you’re sure you can pay it back on schedule without sacrificing your utmost needs. This will help you avoid financial and credit issues.
Compare Loan Offers
Pre-qualify from several loan providers and compare their offers. Pay attention to loan limits, APRs, extra fees, repayment options, funding times, and other factors that may be important to you.
Deal with Reputable State-Licensed Lenders
Check out whether the lender is licensed to operate in your state. Read customer reviews to ensure there is no repeated negative feedback or unresponded complaints.
Find 1F Cash Advance in North Carolina
1F Cash Advance helps borrowers across the state get quick and affordable financial solutions. If you need help with your application, visit our Greensboro store:
Address: 1115 Wendover Ave E, Greensboro, NC 27405
Phone: (984) 205-5285
Email: [email protected]
Branch Manager: Hailey Walker
Hours:
Monday – Friday: 8:00 am to 10:00 pm
Saturday: 9:00 am to 6:00 pm
Sunday: Closed
Not in North Carolina? Check out our locations in other states.
Why Choose 1F Cash Advance?
1F Cash Advance aims to make borrowing fast and easy for people with any credit score. Here’s how we stand out from other loan providers in North Carolina.
Transparent Terms
All terms are clearly outlined in your loan agreement and are easy to understand. This provides a sense of predictability, so you always know what you're getting into.
Legitimate Loan Products
We operate under federal and state laws and follow all the North Carolina regulations. This protects you from predatory lending practices and ensures fair loan terms and rates.
Easy Online Application
You can request a loan via our website in just 5 minutes. There's no faxing, paperwork, or hard credit check involved in the process.
FAQ
Are payday loans legal in NC?
Payday loans in their traditional form are prohibited in North Carolina. State regulations set an APR cap of 36% for all lenders who want to legally operate in the state.
What are the signs of predatory payday loans?
Predatory payday loans usually come with aggressive tactics lenders use to convince you to take out a loan on unfavorable terms. They also charge high interest rates and may apply hidden fees. This way, borrowers find themselves owing much more than they can afford.
What can I do if I'm struggling with payday loan debt?
You can file a complaint against an illegal lender by contacting the NC Attorney General's office and consumer protection services. You can also revoke the lender's authorization to withdraw money from your bank account by sending a stop payment order to your bank before the due date. Alternatively, apply for a debt consolidation loan and combine your high-interest debts into one with better terms. Finally, seek credit counseling to create a debt management plan that will work for your situation.
Can I get a loan with bad credit?
1F Cash Advance offers loans for bad credit in NC. Borrowers with any FICO ratings can qualify as long as they have a steady source of recurring monthly income.
What are the best emergency loan options?
The best loans for financial emergencies include online installment loans, employer cash advances, cash advance apps, family loans, and credit union loans.
How fast will I receive the funds?
Loans from 1F Cash Advance are funded within 1 business day of approval. Applicants who finalized their loan before 10:30 am on weekdays may be eligible for same-day funding.
Are there safe apps to get cash in NC?
You can use the 1F Cash Advance mobile app to request a small loan via your smartphone. Alternatively, consider applications like Earnin, Dave, or Brigit.