Nebraska Payday Loans
Nebraska has strict payday lending laws in order to inform consumers of their rights and what it means to take out a cash advance. There are several regulations in place that specifically address payday loans in Nebraska. The first is that borrowers cannot receive more than $500 in payday loans at one time, and from no more than two different lenders. Cash advance companies, like companies in Lincoln, are required to be forthcoming regarding the costs associated with payday loans. These businesses must post their state license in an obvious place, along with a list of charges, late fees and other costs associated with payday loans. The written contract between the borrower and lender must also state clearly the date that the borrower's check will be deposited.
Maximum Principal
Borrowers can take out up to $500 in cash advance funds from up to two lenders.
Length of Loan
Loan terms are set at 31 days.
Rollovers
There are no rollovers or extensions allowed.
Fees
The cost of the loan cannot amount to more than $15 for each $100. The law in Nebraska does allow payday lenders to charge a one-time late fee of $15.
APR
The interest rate for a two-week loan of $100 is 459 percent.
Omaha, NE 68137
Omaha, NE 68144
Omaha, NE 68164
Omaha, NE 68144
Omaha, NE 68144
Omaha, NE 68112
Omaha, NE 68108
Omaha, NE 68134
Omaha, NE 68127
Omaha, NE 68102
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| Pay Schedule | ||||||||
| Average Loan | Average Age | Weekly | Bi-Weekly | Monthly | Twice Per Month | Home Owner | Renter | |
|---|---|---|---|---|---|---|---|---|
| 2012 | $561 | 41 | 14% | 55% | 15% | 16% | 39% | 61% |
| 2011 | $587 | 38 | 16% | 45% | 20% | 19% | 31% | 69% |
| 2010 | $590 | 40 | 12% | 43% | 26% | 18% | 35% | 65% |

