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Illinois Payday Loans

Illinois Payday Loans


Get an instant cash loan in Illinois online even with bad credit, or no credit. Start now for same-day funding.

Apply for up to $1,000 Payday Loans both online and in-store. Bad credit is not a problem to get a short-term unsecured cash advance from a direct lender. If approved, you will have 13 - 120 days to repay the loan. There are no prepayment penalties. The APR may achieve a rather high amount so it's advisable to repay on time. Submit your loan request now to get the necessary funds tomorrow or even the same day.


Most Instant Payday Loan Online lenders have very simple requirements and guarantee instant cash advance to borrowers with bad credit and no credit. All you need - is to fill in a quick online application form.


Why Choose Compacom for Payday Loans in Illinois

If you've come across urgent financial needs and the next pay day is far away, Compacom will help you get instant cash today with fast and easy Online Payday Loans from the best Illinois direct lender. More than 768 090 trust us and they have clear-cut reasons.
Quick and Easy
Apply for a fast payday loan online right now and pay the money back with your next paycheck.
No Hard Credit Check
Get guaranteed instant approval decision without hard inquiry no matter what your credit is.
Safe and Reliable
Get connected with the best legit direct lenders. OLA certified. Trusted by thousands of US borrowers.

How Illinois Payday Loans Online Work - 3 Easy Steps to Instant Cash

Complete a simple application form online in minutes at the best Illinois lender's website.
If you qualify, you'll be approved fast same day. Check your rates and sign a loan agreement.
Get your Payday Loans fast with a direct deposit to your bank account.
Start Now

Are Payday Loans Legal in Illinois?

Loan Rates and Fees, Laws and Regulations in Illinois.

The residents of Illinois are able to borrow up to $1000 Payday cash advance but not more than 25% gross monthly income. They can take more if they apply for $1000 - $5000 Installment and $5000 - $35,000 Personal loans. They are all legal and regulated by 815 ILCS 122 et seq.1 Repayment term for Payday cash advance varies from 13 to 120 days. The APR amounts to 403%, which is $15.50 finance charge for 14-day $100 cash advance. Two Payday Loans can be taken at a time with a 7-day cooling-off period. Rollovers or renewals are prohibited. But if you haven’t paid off the money after 35 days you may be offered a repayment plan for at least 55 days.

Law statuslegal
MIN Loan AmountNone
MAX Loan Amount$1,000, or25% gross monthly income
MIN. Loan Term13 days
MAX. Loan Term120 days
Additional feesNot more than $15.50 for $100 borrowed
NSF fee$15
Collateral or guarantorNone, unsecured
Number of simultaneous loans2
Cooling off period7 days
RolloverNot allowed
Extension, repayment plan55 day repayment plan
Default penaltiesNone
Credit score requirementsAvailable for Bad Credit
Apply online

We are soon expanding to the following cities of Illinois. For instant cash advance at these locations you can use our online application form

Illinois Payday Loans and Cash Advance Laws, Rates and Terms

Table of Contents:

Are Payday Loans Legal in Illinois?

Payday Loan Interest Rates in Illinois

Online Payday Loans in Illinois

Payday Loan Calculator in Illinois

Payday Alternative Loans

Payday Loan Requirements in Illinois

How Payday Loans in Illinois work

Online Payday Loans lenders in Illinois

Bad credit Payday Loans in Illinois

Quick Unsecured Payday Loans in Illinois

How much Payday loans cost in Illinois?

Payday Loan from Direct Lenders in Illinois

No credit check Payday Loans in Illinois

Payday Loans near me in Illinois


Payday Loans in Illinois

First of all, Payday Loans are legal in Illinois according to the 815 ILCS 122 et seq. Though there are certain rules which state2:

  • The maximum amount of $1000 or not more than 25% gross monthly income.
  • Two outstanding loans are allowed at a time.
  • The minimum repayment term is 13 days.
  • The maximum repayment term is 120 days.
  • The $1 dollar verification fee is allowed.
  • The APR shouldn't exceed 403%.
  • No rollovers are allowed.
  • There must be a 45 cooling off period after 45 consecutive loan days.
  • You may apply for a repayment plan.
  • There is a $25 NSF fee.
  • There are no prepayment penalties.
  • Criminal charges are prohibited.

If you want to file a report or complaint on Payday lenders in Illinois, address the Illinois Division of Financial Institutions, 320 West Washington, 3rd Floor, Springfield, IL 62786, phone: (888) 473-4858.

Payday Loans in Illinois

Legal Payday Loans in Illinois

Online Payday Loans in Illinois 

You must be proud to live in the "Land of Lincoln" and see the tallest building of superman in your state. And we are proud to offer you affordable legal bad credit Payday Loans from the best direct lenders. Just state the amount in the form below and get the necessary cash advance.

Any resident of Illinois can apply for a Payday Loan both online and in-store. But, of course, online lending is becoming more and more popular as it has plenty of advantages:

  • it gives you a chance to compare a lot of different offers at once,
  • you can avoid driving, doing paperwork, and waiting in lines,
  • applying is free and simple, 
  • you have very high chances of approval even with a bad credit score,
  • you can find some lenders ready to give you the loan with no credit check,
  • it's available 24 / 7.

The process of applying online is quick and simple:


you compare the lenders and choose the one with the best rates and fees;




you fill out the necessary information in the application form



you get the money deposited into your account within 1 business day




you pay off the loan with your next paycheck




Start with the first step - compare the top-rated Payday Lenders online. Most of the best direct lenders also offer online Payday Loans in Missouri to compare with Iowa Payday Loans.

Bad credit Payday Loans in Illinois 

A bad credit loan is a type of credit given to borrowers with a FICO score below 640. You usually need at least 600 to qualify for such a loan. To get the money you may turn to credit unions, family, friends, peer-to-peer lending platforms, or use online lending services. When choosing an online lender for a bad credit loan, there are important features to take into account. You can find all these important criteria on the website, which gives you a unique opportunity to compare companies. You may also consider bad credit Payday Loans in Indiana, for example. Pay attention to:

  • Type of lending company
  • Credit history and general qualifications
  • Co-signer option
  • Additional eligibility qualifications
  • Employment requirements
  • Interest rates and types
  • Loan terms
  • Fees and penalties
  • Repayment options

The types of loans available for bad credit applicants are Payday Loans, Bad Credit Personal Loans, and Bad Credit Installment Loans. They typically have higher interest rates and shorter terms than loans offered to people with good credit. You are most likely to get a Payday cash advance as its amount is not very high, $100 - $1000, and the APR on the contrary may exceed 400%. This fact shouldn’t frighten you as due to the short (14 - 30 days) term the overpay could be only $1 a day.

Quick Payday Loans in Illinois 

Payday Loans are considered to be fast because:

  • it takes only some minutes to apply
  • you get an instant decision
  • the money is deposited into your bank account within a day, or sometimes - an hour.

If you really badly need money fast consider applying in-store. Check cashers may give you the cash at once.

The main reasons to apply for a Payday Loan in Illinois are:

  1. You get the funds fast. Banks take a while to qualify you for a loan. Direct lenders usually guarantee instant approval.
  2. You can spend the money on any personal needs you have. 
  3. It's possible to find a lender ready to approve you with no credit check. 
  4. If you have a bad credit score and can't get a loan from banks and other traditional financial institutions, you can always find a direct lender ready to help you.
  5. The requirements for a Payday Loan are very simple.

How much Payday Loans cost in Illinois? 

The total cost of any loan consists of the principal, interest, and additional fees. The maximum fee charged on a payday loan in Illinois is variable depending on the loan amount and the lender. Besides, you may be charged a $1 verification fee. Besides, lenders cannot charge fees of more than $15.50 per $100 borrowed, or 15 percent of the total loan – whichever is less. The minimum payday loan term is 13 days.

Or you can find out how much the necessary amount Payday Loan will cost may use our calculator.

Payday Loans Direct Lenders in Illinois 

First of all, before choosing a lender do some research, don't apply with the first company you see, be responsible as it can influence your future financial wellness.

  • Surf the Internet;
  • Use some comparing services such as;
  • Read the customers' reviews, etc.

Before signing an agreement get familiar with the laws and regulations concerning Payday lenders in Illinois. Both online and in-store direct Payday lenders must:

  • be licensed and follow the rules set by the state;
  • include the most relevant information on the first page of your contract: the amount of the loan, the terms of the loan, the cost of the loan;
  • never ask for or accept payment by automatic deduction from your paycheck (assignment of wages)
  • explain the cost of a payday loan and its possible consequences.

When you do sign an agreement with the lender you've chosen don't forget what the Illinois law says about it:

  • the agreement must contain the name and address of the lender and his office, the name of the lender's representative who signed the agreement, a clear description of the agreement including the date of the loan, the amount, the loan term, and the transaction number.
  • there mustn't be any prepayment fees, 
  • no additional guarantor can be required,
  • the money should be provided in the form of cash, other forms are allowed only with the borrower's agreement,
  • a borrower should get a copy of this agreement 

No credit check Payday Loans in Illinois 

To find a lender ready to approve you for a Payday Loan without a credit check is hard but possible. But you must understand that the fees for such cash advances may be higher than usual as it's riskier for the lender. So consider getting a loan with at least a soft credit check. It'll make the process safer for both you and the lending company and the loan will be cheaper. Still, it won't damage your credit history.

Payday Loans near me in Illinois

If you are searching for Payday Loans near you in Illinois, you're likely to need store locations with addresses and so on. It may be a good idea if you borrow money for the first time and require a personal assistant's help or if you want to get the cash advance as fast as possible, the same day. But in other cases, there's nothing more convenient than applying for a Payday loan online and filling out a simple loan request. Thus you get an opportunity to compare various lenders, choose the most suitable offers with the lowest rates, and save time and energy. Besides, online Payday Loans are highly available even for bad credit borrowers in Illinois. Some direct lenders offer No credit check loans, and practically no one requires collateral.

If you're still looking for locations of Payday Loan stores in Illinois in your city, use our Payday Loan store locator. Payday Loans near me in Illinois may be compared with neighboring Tennessee Payday Loans. Find the addresses, directions, phone numbers, and other relevant information which will help you find the cash advance faster and easier.


Whenever you need a small dollar emergency financing of $300 - $500, you can apply for no credit check payday loans with guaranteed approval online and get instant cash on the same business day once you meet the simple requirements.

What are Payday Loans in Illinois?

All you need to know about Payday Loans

Payday loans, or as they are also called “small dollar”, “bad credit”, “same day”, “short term”, “cash advance” are a kind of easy quick unsecured $100 - $1000 cash advance paid off with your next paycheck in 14 – 30 days. As soon as you are approved you are likely to get the money in your account in 24 hours or even the same day. Bad credit is not a problem to receive the necessary funds. Most direct lender Payday Loans are granted to any borrower with a steady income.

So, the main characteristics of Payday Loans are:

  • $100 - $1000 average loan amount;
  • 14-30 days repayment term;
  • money in your account in 24 hours or even the same day;
  • available even for bad credit;

More than 12 mln Americans use cash advance every year.

It’s legal in 36 states (with some restrictions in 9 of them) and prohibited in the other 14 and the District of Columbia.

You can take a Payday loan in storefronts, online and even in a few banks in Illinois. It’s very simple to apply for it:

  1. just fill out a form with the state and e-mail address,
  2. if you are over 18, have a permanent job, income and a valid bank account, you have 98% chance to get instant approval from a direct lender;
  3. receive the money in your bank account less than 24 hours.

Payday loans are very attractive for the majority of borrowers because you don’t need any guarantor or collateral, and you can get it even with a bad or poor FICO score.

On the other hand, they are notorious for charging too high APR and leading to a continuous debt trap, but it’s a common myth. To debunk it we provide you with the cost of $100 Payday Loan at 400% APR for 14 days which is only $1 a day. You can calculate the cost of your loan free using our Payday Loan Calculator. Try Payday cash advance and make sure that it’s really as easy as ABC: Affordable, Beneficial, Convenient!

Same Day Payday Loans in Illinois

Payday loans are known to be short-term small-dollar cash advance, starting minimum with $100 and up to $1,000. Applying is easy and quick especially if you apply for a Payday Loan online. The funds can be deposited into your bank account the next business day if you borrow from online direct lenders. If you drive to a store near you in it’s possible to get a Payday Loan with the same day deposit.

Read more: Same Day Payday Loans 

Guaranteed Payday Loans from direct lenders in Illinois

Many Illinois lenders promise you a guaranteed instant approval for a Payday Loan. But be careful, take into account all the risks concerning short-term cash advance. You should understand that not all the borrowers can be approved. Though Illinois Payday Loans are really highly available, even for bad credit and with NO credit check sometimes, lenders can’t guarantee 100% approval. If you have no job, very low income, or many debts in the past, your chances to get the money are very low.

The truth is you do get an instant decision from a lender. Especially if you fill out our online application form you save plenty of time and energy and make lending procedure much faster and easier. It takes only several minutes to match you with the necessary lender and get his reply. That’s why Payday Loans are rightly considered the fastest and the easiest.

Cash Advance and other Money Offers in Illinois

Up to $5,000 instant cash with guaranteed approval from direct lender with a few months of scheduled installments.
$5,000 - $35,000 quick loans for any personal needs. Available for any credit score and don't require any collateral.
Fast Title Loans secured by your vehicle title as collateral. No inspection. No credit checks. Instant cash for bad credit same day.


Who Shall I Address If I have Complaints?
What are Illinois Payday Loan Alternatives for Borrowers with Bad Credit?
What are Illinois Payday Loan Requirements?
Can I Get a Repayment Plan?

Payday Loans Hub

In the Payday Loans Hub, we've collected all the useful guides and resources on Payday Loans. Our experts conducted thorough research to give you the answer to any possible question on the topic.

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Questions and Answers

COMPACOM TEAMExpert answer

In Illinois any resident who meets basic requirements can legally get 2 Payday cash advances at a time if the maximum amount doesn't exceed $1000 or 25% of your gross monthly income. 

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Other rules and regulations concerning short-term loans in Illinois are stated below:

Law statuslegal
MIN Loan AmountNone
MAX Loan Amount$1,000, or25% gross monthly income
MIN. Loan Term13 days
MAX. Loan Term120 days
Additional feesNot more than $15.50 for $100 borrowed
NSF fee$15
Collateral or guarantorNone, unsecured
Number of simultaneous loans2
Cooling off period7 days
RolloverNot allowed
Extension, repayment plan55 day repayment plan
Default penaltiesNone
Credit score requirementsAvailable for Bad Credit

Read more: Payday Loans in Illinois.

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