California Cash Advance Consumer Resource
Welcome to CashAdvance.com’s California Consumer Resource, a one-stop guide to all things relating to payday loans in California. Like many states, cash advance loans in California have specific laws and regulations which guide the industry and protect consumers. In addition to specifics on the rules for payday loans, this page also offers information on how to protect yourself from predatory lending in California, the California payday loan process, important news on the cash advance industry in California, and consumer finance education resources.
Keep up-to-date on the latest news on California cash advance legislation, important local developments, and tips on how to improve your payday loan experience.
If you find out any information that can help your fellow consumers in California, please feel free to submit articles, information, legislative news and other resources to california@cashadvance.com.
For further information regarding cash advances within the various cities of California, please visit the links listed below in the Information by City section.
Information by City
- Anaheim
- Antioch
- Bakersfield
- Berkeley
- Burbank
- Chula Vista
- Concord
- Corona
- Costa Mesa
- Daly City
- Downey
- El Monte
- Elk Grove
- Escondido
- Fairfield
- Fontana
- Fremont
- Fresno
- Fullerton
- Garden Grove
- Glendale
- Hayward
- Huntington Beach
- Inglewood
- Irvine
- Lancaster
- Long Beach
- Los Angeles
- Modesto
- Moreno Valley
- Norwalk
- Oakland
- Oceanside
- Ontario
- Orange
- Oxnard
- Palmdale
- Pasadena
- Pomona
- Rancho Cucamonga
- Richmond
- Riverside
- Roseville
- Sacramento
- Salinas
- San Bernardino
- San Buenaventura
- San Diego
- San Francisco
- San Jose
- Santa Ana
- Santa Clara
- Santa Clarita
- Santa Rosa
- Simi Valley
- Stockton
- Sunnyvale
- Thousand Oaks
- Torrance
- Vallejo
- Victorville
- Visalia
- West Covina
More Information about California
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Cash Advance in California
As the economic downturn that has gripped the world trudges on into another year, there is one industry that appears to be expanding into more and more cities. Cash advances, otherwise known as payday loans, are short term loans that provide borrowers with cash based upon a post-dated check. Individuals often seek out cash advances to help cover financial shortfalls, but anyone considering one should make themselves knowledgeable about the laws that govern cash advances in their state.
Cash advances in California operate just the same way they do in other states. Individuals write a post dated check to a lending institution for the amount of the loan, plus additional fees and charges. The lender then provides them with a check or electronic payment for the agreed upon loan amount. Cash advances cannot be more than $300. When the loan period is over the lender will cash the check provided to them by the borrower and the transaction is complete.
In the event a borrower doesn’t have the appropriate amount of money in their account to cover the check, an extension can be negotiated with the lender until the appropriate funds in their account to cover the check. When this happens borrowers often end up paying more money than the loan they took out because high interest rates begin to kick in. Understanding the laws that apply to a cash advance in California will help an individual avoid any potential financial pitfalls.
Individuals are barred from having more than one loan outstanding at a time and are protected from any criminal charges filed by a lender. Lenders in California are not allowed to provide cash advances based upon government or business pay checks exceeding 3% of the face value of the check.
Among the other laws that govern cash advances in California are the following:
- Loan Amounts: Borrowers cannot receive more than $300 on a cash advance loan
- Loan Periods: The maximum length of any cash advance in California is 31 days
- Extensions: California residents are not allowed any extensions or roll overs on their cash advances
- Fees and Charges: Lenders cannot charge fees in excess of 15% of the check’s face value
Cash advances are often taken out by individuals facing a sudden financial shortcoming such as a medical emergency, auto related bills, or other unexpected bills. Anyone considering a cash advance in California should carefully consider all the rules and laws that govern cash advances to ensure that they do not find themselves in worse financial standing as a result of their cash advance loan.
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Consumer Notice: A cash advance, also referred to as a payday loan or payday advance, is a small, short-term loan that is intended to cover a borrower's expenses until the following payday. Cash advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory help. Consumers are encouraged to consult our State Consumer Resource pages to learn more about the risks involved with cash advances, local laws and regulations that may be applicable to cash advances, possible loan alternatives and recent developments in their state.
Legal Disclaimer: This website does not constitute an offer or solicitation to lend. CashAdvance.com is not a lender, does not broker loans, and does not make loan or credit decisions. The operator of this Web Site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. CashAdvance.com provides a service only and is not acting as a representative, agent, or correspondent for any service provider or lender. CashAdvance.com's aim is to inform users of possible lenders who may be able to satisfy the needs of a particular consumer. CashAdvance.com does not endorse any particular service provider, lender, nor loan product. You are under no obligation to use CashAdvance.com's service to initiate contact, nor apply for credit or any loan product with any service provider or lender. Service providers or lenders will typically not perform credit checks with the three major credit reporting bureaus: Experian, Equifax, or Trans Union. However, credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained by some service providers or lenders, in certain circumstances. You will not be charged any fees to use CashAdvance.com's service. Learn more on our Rates & Fees section.
Availability: Residents of some states may not be eligible for a short term cash loan based upon lender requirements. CashAdvance.com does not guarantee that completing an inquiry form will result in you being matched with a service provider or lender, being offered a loan product with satisfactory rates or terms, nor receiving a loan from a service provider or lender.