New Jersey Payday Loan Alternatives
- Apply online or at a location
- Instant approval decision
- Same-day* direct deposit
- Money from a state-authorized lender
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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When unexpected expenses arise, you may need emergency cash to get by. While payday loans are illegal in New Jersey, 1F Cash Advance offers legitimate alternatives at lower costs you can get completely online. Borrow up to $5,000 and repay the money in affordable installments over up to 24 months.
How It Works
1F Cash Advance makes it easy to apply for a payday loan alternative in New Jersey:
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Submit the application. You can apply online, over the phone at (973) 545-7678, or in person at one of our stores.
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Receive your loan decision. The underwriting process is typically fast, so you can expect an approval decision within minutes.
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Get the funds. Once approved, finalize your loan and receive the money on the same day.*
*For loans originated before 10:30 am ET on weekdays, the funds are disbursed on the same day. Applications processed after 10:30 am ET or on weekends will be funded on the next banking day.
What Do I Need to Start My Application?
We only ask for the basic items to keep the process simple:
- Valid government-issued ID
- Social Security Number
- Active bank account
- Proof of income
- Proof of address
- Contact email and phone number
Payday Loans in New Jersey
In New Jersey, payday loans are prohibited due to their predatory nature. Under the New Jersey Revised Statutes 17:15A-47 (1993), check cashing licensees can’t advance money on postdated checks and are not allowed to cash them. The Consumer Loan Act, New Jersey Revised Statutes 17:1 et seq., regulates the maximum APR lenders can charge.
Cost of Payday Loans
On average, payday loans cost $10 to $30 for each $100 borrowed. This translates to an APR of 260.71% to 782.14% for a 14-day loan. Besides interest rates, lenders can also charge processing fees of up to 10% of the loan amount.
As payday loans come with short repayment periods, about 80% of borrowers are forced to roll them over, which also attracts extra fees and interest. To protect borrowers from excessive costs, New Jersey law sets a 30% APR usury cap on all loans issued in the state.
Payday Loan Alternatives to Get in New Jersey
Borrowers with less-than-perfect credit can consider other ways to get quick cash in the state.
Cash Advance Apps
Cash advance apps offer small paycheck advances via the phone without charging mandatory interest. You can typically borrow up to $250 or $500 and repay the funds when your next pay arrives. No credit check is usually performed. Monthly subscription fees may apply.
Payday Alternative Loans (PALs)
These loans are offered by federal credit unions as a cheaper alternative to regular payday loans. PALs typically come with loan amounts of up to $1,000 that you can repay in installments over up to 6 months. Interest rates are capped at 28%.
Payday Advances
A payday advance from your employer is an interest-free or low-cost option that allows you to get a portion of your future paycheck upfront. The eligibility is determined by your company’s policy, not your credit score.
1F Cash Advance Offers Installment Loans in New Jersey
Installment loans are small personal loans used for larger unexpected expenses and life projects, such as home repairs, medical bills, or rent payments. Unlike payday loans that need to be repaid within a few weeks, they offer the flexibility to repay in affordable monthly installments. At 1F Cash Advance, you can borrow up to $5,000, with the maximum repayment term of 24 months.
1F Cash Advance in New Jersey
We provide in-store financial assistance to borrowers who need personalized support. Visit our location at 645 E 19th St, Paterson, NJ 07514 and let our team help you complete the loan process. Another our office is located in Roseland:
Not in New Jersey? 1F Cash Advance operates nationwide! Find our local store in your state.
Find a StoreWhy Choose 1F Cash Advance
Even when the times are tough, you can rely on 1F Cash Advance. Here’s how we differ.
Accessible loan products
Borrowers with bad or no credit can qualify. We don't rely on your FICO rating and assess your overall financial situation to offer guaranteed approval whenever possible.
Convenient repayment options
We offer affordable alternatives or payday loans in New Jersey. You can choose the repayment period that keeps your loan payments within your means.
Best-in-class customer support
Our customers are our top priority. The 1F Cash Advance professional team can answer all your questions and help you navigate the loan process.
Customer Reviews
exceptional service
had a really good time at 1f cash Advance explained everything to me in a way I understood also gave me some awesome tips on managing loans that I never wouldve thought of myself and just exceptional service!
expected getting a loan to be tiring
expected getting a loan to be tiring, but Dove made it smooth and stress-less and their chill attitude and expertise made a difference she even shared practical ideas on budgeting and staying on top of payments.
Taking this loan out went way smoother…
Taking this loan out went way smoother than I thought managers weren’t just professional but also pretty friendly, which made the whole thing less nerve-wracking their advice on handling the payments and keeping my credit solid was useful too. Its cool to see a finance place act like real people for a change!
recommend
if your looking to get a loan, I’d recommend going to check this place out for sure. The folks there are friendlier than your cousin Jed, and they’ll give you real solid advice on budgeting and dealing with debt that makes sense. They turned what couldve been a real stressful thing into a nice casual chat between friends
I’m very happy.
Their customer service really stood out. I had a question about repayment terms, and they explained everything in detail without making me feel pressured. I’m very happy with my experience.
FAQ
Can I get a payday loan online in New Jersey?
No. Under New Jersey law, online lenders are not allowed to offer payday loans to residents, whether they are in or out of state. Such loan providers are considered unlicensed and illegal.
What if I don't repay my loan?
Late or missed payments may result in extra fees and credit score drops. Contact your lender before the due date comes and ask about your options.
What should I do if I'm struggling with payday loan debt?
First, you need to file a complaint with the New Jersey Department of Banking and Insurance. Then, contact your bank or credit union and give it a stop payment order. Next, consider reaching out to a credit counselor to create a realistic debt management plan.
How can I contact Customer Support?
Our customer support team is always ready to help! Call us at (973) 545-7678 or email our representatives at [email protected].
How can I detect illegal payday loans?
New Jersey loans that require a postdated check and/or carry interest rates of over 30% are considered illegal. Another sign is the absence of the state license and collection attempts on loans that are considered illegal.
Where can I file a complaint about a payday lender in New Jersey?
If you become a victim of illegal payday lending, contact the New Jersey Department of Banking and Insurance. You can also file a complaint through the Consumer Financial Protection Bureau.