Where True Finance personal loans are available, state by state

Texas is one of the largest personal-loan markets in the country. Small installment loans are regulated under the Texas Finance Code, and many online lenders operate through licensed credit access businesses.

• Installment loans of $200–$5,000 are widely available from online lenders.
• Rates and fees vary by loan size under the state's tiered structure; every offer must show the APR before you sign.
• Payday-style single-payment loans exist but are far more expensive than an installment loan.

Florida licenses consumer finance lenders under the Consumer Finance Act and separately regulates short-term deferred-presentment (payday) loans, which are capped at $500.

• Installment loans up to $5,000 are available from licensed consumer finance lenders.
• Payday loans are limited to $500 with a mandatory cooling-off period; an installment loan is usually the cheaper route.
• Florida uses a statewide database for short-term loans, so lenders can see existing payday balances.

California caps interest on consumer loans of $2,500–$10,000 at roughly 36% plus the federal funds rate under the Fair Access to Credit Act, and regulates smaller loans under the California Financing Law.

• Loans of $2,500 and above carry a rate cap, so bad-credit approvals may be smaller or shorter.
• Lenders must be licensed under the California Financing Law and disclose all fees.
• Payday loans are capped at $300 and are rarely a good alternative to an installment loan.

Ohio's Fairness in Lending Act (2019) reshaped small-dollar lending: short-term loans are capped in cost and must be repayable in installments, which pushed most lenders toward the installment products we offer.

• Installment loans with fixed monthly payments are the standard product.
• Cost caps apply to short-term loans; longer-term personal loans are governed by the General Loan Law.
• Lenders must be licensed by the Division of Financial Institutions.

Georgia bans traditional payday lending and regulates loans of $3,000 or less under the Georgia Installment Loan Act, so small-dollar loans in the state are installment loans by design.

• Loans of $3,000 or less fall under the Installment Loan Act with rate and fee limits.
• Larger personal loans are available from lenders licensed for consumer lending.
• No payday lending: an installment loan is the main small-dollar option.

North Carolina prohibits payday lending and sets rate tiers for consumer finance loans under the Consumer Finance Act, which limits how many online lenders serve smaller amounts.

• Installment loans are available but at lower rate caps than in many states, so approvals for bad credit can be harder.
• Payday loans are not permitted.
• Lenders must hold a North Carolina consumer finance license.

Pennsylvania's Consumer Discount Company Act and Loan Interest and Protection Law cap rates on small loans, and the state actively enforces those caps against unlicensed online lenders.

• Fewer online lenders serve Pennsylvania because of the rate caps.
• Loans must come from a licensed consumer discount company.
• Payday loans are effectively prohibited.

Illinois' Predatory Loan Prevention Act (2021) caps consumer loan APRs at 36%, which means higher-risk borrowers may receive smaller offers or be declined more often than in uncapped states.

• 36% APR cap applies to most consumer loans.
• Lenders must be licensed under the Consumer Installment Loan Act.
• Expect stricter income and DTI requirements for approval.

Arizona ended payday lending in 2010; consumer lenders offer installment loans under the Consumer Lender license with tiered rate limits.

• Installment loans of $200–$5,000 are common from licensed consumer lenders.
• No payday lending since 2010.
• Auto title loans exist but carry the risk of losing your vehicle.

Michigan regulates installment lenders under the Regulatory Loan Act and permits payday loans up to $600 under a separate deferred-presentment law.

• Installment loans available statewide from licensed regulatory loan lenders.
• Payday loans capped at $600 with a state database.
• Compare an installment loan first; it is usually far cheaper per dollar borrowed.

New York has some of the strictest usury laws in the country (16% civil, 25% criminal), so most online small-dollar lenders do not lend to New York residents. True Finance does not currently connect New York borrowers with lenders.

• Personal loans above 16% APR are generally not permitted.
• Payday lending is prohibited.
• Consider a credit union payday alternative loan (PAL) or a bank personal loan.

Washington licenses consumer lenders under the Consumer Loan Act and caps payday loans at $700 with a limit of eight per year.

• Installment loans available from licensed consumer loan companies.
• Payday loans limited to $700 and eight per 12 months.
• Installment plans are required for borrowers who cannot repay a payday loan.