Illinois does not have many online payday lenders when compared to other states. Just a few years ago there were numerous online options available if you were looking for online payday loans, especially if you were a resident of Chicago. As we moved into 2016 that all begin to change. Many large national lenders chose to pull out or limit their lending options in Illinois because of regulatory requirements. With that being said there are still options available if you’re looking for payday loans in Chicago. In this list of online lenders we’ve listed companies that are actively providing online payday loans, personal loans and long term installment loans in Chicago. **Last Revised December 2016**
Lendup funds online payday loans to consumers who live in Illinois. They only fund online payday loans and they have a very simple application process. With LendUp you can complete your application in less than 5 minutes and they claim good credit is never required. The max loan term in Illinois for a LendUp payday loan is 30 days after the loan date. You can also get your loan proceeds sent to your debit card or you can pick up at their Chicago IL location once your approved.
CashAdvance has been around since 1997 and it looks like they currently fund online payday loans of anywhere from $100 to $1000 with a loan term of 10 to 45 days in Illinois. To be approved for a payday loan you will need to be currently employed with a monthly income of at least $750. You will also need an active checking account, no savings account or pre-paid accounts are allowed. Cashadvance.com is great to work with and you won’t necessarily be denied for a payday loan if you have poor to average credit.
Lending Club claims to be the largest online marketplace of investors that are willing to fund direct loans in Chicago. This type of lending is called peer to peer lending and is generally different from most of the direct lenders listed here. With LendingClub you’re able to apply for a large personal loan of up $35,000 in Illinois. Once you complete an online application, LendingClub will use your data and come up with a risk profile for you. Assuming you qualify, you can get a loan within 24 hours. Quicker if you live in Chicago and pick up at a local bank that works with them. You will typically need a good credit score to be approved for a high dollar loan with LendingClub. They also claim to have much lower rates than other online lenders.
Upstart is an online based lender that offers high dollar loans to consumers in Illinois. To qualify for a payday loan with Upstart you need to have a full time job with a checking account. Upstart is different from traditional direct payday lenders in that they offer loans for 2-3 years opposed to just a few weeks with a payday loan. Upstart funds loans of $2,500 to $25,000 and you can expect your interest rate to start off in the single digits. Effective late 2016, Chicago residents may be able to apply for a loan in person at one of their Chicago payday loan location.s You’ll only be approved for a loan if your credit score is 650 or higher.
USA is a longtime direct lender with many offices all throughout Chicago. Illinois residents can apply for an payday loan online and have everything done over the computer. Or you can gather your documents and go to any of their payday loans Chicago locations. Their Illinois payday loans will run anywhere from $100 to $800 and you can expect the loan term to last from one to six months. USA also just rolled out an installment loan offer. With this type of loan you can borrow more than $1000 and you have longer to pay off the loan. Both payday loans and installment loans are provided at their Chicago and Aurora locations.
CashNet is a large online lender that only offers installment loans in Illinois. They used to provide a good amount of online payday loans in Chicago, but it seems they’re no longer offering payday loans in Chicago. They claim their online application can be submitted and processed in minutes and you can get your cash by the next business day. You’ll need an active checking account and verifiable employment to be approved for an online payday loan with them. At this time CashNet can offer online installment loans up to $2,200 with a 6 month or less payoff time to Illinois residents. Their online installment loans are typically paid off in 6 installments but you can also pay the loan off early with no pre-payment penalty.
Speedy Cash offers both online payday loans and in-store loans at any of their Illinois locations. They currently operate over 6 locations that offer payday loans Chicago and there are other stores throughout the state of Illinois. Speedy also funds installment loans as of just a few months ago in Illinois. You can either apply at their Chicago payday loan locations or fill out an application online. With an installment loan you should expect a 12 payment loan term and you can typically borrow up to $500. Their in-store rates and rules may be different so check out their loan terms on their site.
A-All is another Illinois based direct payday lender that funds payday loans as well as online installment loans and auto title loans. They have well over a dozen locations all throughout Illinois with at least 3 payday loan Chicago locations. With their payday loans applicants can apply for up to $1000 and they claim you should be approved if you show active employment with a checking account in good standing. Another benefit they provide is real-time cash in hand. This means a Chicago resident that applies for a payday loan can get their cash within minutes of approval.