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• Research Texas payday lending regulations in your area

• Access our network of Texas cash advance professionals

• Calculate Texas payday loan rates with our loan calculator

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Texas Payday Loans

Texas, once its own republic, is a proud state with proud citizens. Texas is known as the Lone Star State due to the single star emblazoned on the Texas State Flag. Texas is steeped in the history and traditions of the old west and the cowboy way of life. Texans hold BBQ dear and are known for their abilities on the grill.

Texas loan laws are very specific on the details of fees and charges that a company can charge. Like most other states, every payday loan lender is required to receive and display a license to conduct business from the state government. In addition to the normal fees a company charges, Texas law allows companies to charge handling fees. All lenders must post a written agreement and a fee schedule in a prominent place in the place of business. Contents of the agreement must be: the transaction date, the name of the lender, a full accounting of costs, a fee schedule, and the earliest date the borrow plans on depositing the check. The agreement must also state that these loans are intended for short term needs and must include the phone number and address of the Consumer Credit Commissioner. Customers cannot be criminally charged for failure to repay a loan.

There are many lenders in the state of Texas. You can find lenders in the major cities in Texas including Austin, Dallas, and San Antonio.

Maximum Loan Amount

Texas has no maximum loan amount.

Loan Terms

Maximum loan time is 31 days while 7 days is the minimum.

Extensions and Rollovers

Texas law does not allow loans to be renewed or extended.

Fees and Charges

The following is a breakdown of the fees and charges for a Texas payday loan:

• No more than $20.00 for loans under $30.00.
• Loans over $30 but under $100 can be charged no more than 1/10 the amount of the loan.
• Loans over $100 maybe charged no more than $10.00.
• Monthly handling Fees:

• $3.50 for loans under $35.
• $4.00 for loans between $35 and $70.
• Loans greater than $70 can be charged $4.00 for every 100 dollars borrowed.

Fee Schedules and APR

Maximum APR is 309% for a two week $100 loan.

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Texas Loan Statistics

			Pay Schedule
	Average Loan	Average Age	Weekly	Bi-Weekly	Monthly	Twice Per Month	Home Owner	Renter
2012	$631	37	18%	47%	17%	18%	30%	70%
2011	$605	36	14%	50%	20%	17%	30%	70%
2010	$627	38	14%	47%	21%	19%	31%	69%