Payday Loan Alternatives in Salt Lake City

Consider a line of credit instead of a payday loan.

CashNetUSA offers lines of creditup to $2,000*

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Head to our Rates & Terms page to learn more.

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If approved before 1:30 p.m. CT Monday – Friday†

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Get a payday loan alternative in Salt Lake City, UT.

CashNetUSA offers Utah customers a line of credit as an alternative to payday loans. A line of credit provides approved borrowers a credit limit from which they can draw funds to use as cash. As the money is repaid, the customer’s available credit increases. So when they need funds again, they can make another draw without reapplying.

Interest and fees are only charged from the amount borrowed. If approved for CashNetUSA’s line of credit, Utah customers can receive a credit limit of $100 to $3,000. New customers can qualify for up to $2,000.*

Apply now for a line of credit in Salt Lake City, UT.

Salt Lake City Payday Loan vs. CashNetUSA Line of Credit

Salt Lake City payday loan1
Funding amount
No limit
APR
Average of 554%
Repayment
Pay in full — can extend up to 10 weeks if necessary
Additional funding
Reapply to borrow more
CashNetUSA’s line of credit2
Funding amount
Up to $2,000*
APR
299% (plus a transaction fee of 15% of the amount drawn)3
Repayment
Revolving credit with billing periods that may be bi-weekly, semi-monthly or monthly depending on borrower’s pay schedule
Additional funding
Draw from available credit without reapplying

1Based on information from Pew Charitable Trusts. Actual terms may vary based on applicant's qualifications.

2Based on terms available to new customers. Actual terms may vary based on applicant's qualifications. For full product details, see Rates & Terms.

3Visit our Utah Rates & Terms Page for additional disclosures and terms.

Learn more about payday loan alternatives in Salt Lake City, UT.

Utah state law does not specify a minimum or maximum payday loan amount. There is also no limit to how much interest a lender can charge. The average annual percentage rate (APR) for a payday loan in Utah is 554%.

With a CashNetUSA line of credit you can get between $100 and $3,000 — though new customers can generally only qualify for up to $2,000.* The average annual percentage rate ranges from 229% to 299%, but is generally 299% for new customers.* There is also a transaction fee of 15% of the amount of each draw. For more details and examples, please visit our Rates & Terms page.

Fast cash with no credit check might sound appealing, but there are risks involved when taking out a payday loan.

Most payday loans must be repaid in full. According to Utah state law, a loan cannot be extended past 10 weeks. This length may seem generous at first, but it creates room for multiple rollovers — which cost borrowers more.

Payday loans are also known to be a very expensive form of credit. Because there isn’t a limit to how much interest loan companies can charge in Utah, borrowers may find themselves paying high interest rates and sinking deeper into debt.

Other borrowing options available in Utah, including lines of credit and installment loans, often offer lower interest rates and longer repayment terms. With these payday loan alternatives, borrowers can pay smaller amounts over a longer period of time. CashNetUSA offers a line of credit in Utah.

CashNetUSA’s line of credit. With a line of credit, you can borrow some or all of your available credit limit, and you don’t need to reapply each time you draw funds. Plus, you only pay interest and fees on what you borrow.

Installment loan. When you take out an installment loan, you receive the full amount up front and repay in installments over time, along with interest and fees.

Title loan. If you choose to take out a title loan, your car title becomes collateral. In Utah, a title loan applies to not only a motor vehicle, but also a mobile home or motorboat. Just be aware that if you default, your lender may repossess the item.

Salt Lake City borrowers can look to the following resources for financial solutions, education and coaching:

Comunidades Unidas
1750 West Research, Ste. 102
West Valley City, UT 84119
801.487.4143

NeighborWorks Salt Lake, Murray Office
4843 S Poplar Street
Murray, UT 84107
801.539.1590

NeighborWorks Salt Lake, Salt Lake Office
622 West 500 North
Salt Lake City, UT 84116
801.539.1590

AAA Fair Credit Foundation
136 E S Temple St Suite 1400
Salt Lake City, UT 84111
801.483.0999

Disclaimer - The named parties are not affiliates or agents of CashNetUSA. We make no representations, warranties or guarantees about the information or services provided by the named parties.