Delaware (DE) Payday loans Online, Cash Advances, Installment Loans, and Personal Finance Solutions

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Delaware was the first state to ratify the United States constitution (on December 7, 1787). Because of this action, Delaware became the first state in the Union, and is, therefore, accorded the first position in such national events as presidential inaugurations. Of the 50 US states, Delaware is the 49th in size and 45th in population. Reference Wikipedia

• Motto: “Liberty and Independence”
• Of the 50 US states, Delaware is the 49th in size and 45th in population.
• The Du Pont Laboratories first produced nylon at its plant in Seaford. This earned the town the distinction of being the Nylon Capital of the World.
• At its widest point, Delaware is 35 miles across.

Delaware has an important place in history. The tiny state, which is only 96 miles long and 39 miles wide, was first to produce peaches commercially and organize a nationwide beauty pageant. Today, it is perhaps better known for its tax-free shopping. Nearby Maryland and Pennsylvania residents pay a sales tax of 6 percent, while New Jersey shoppers pay 6.625 percent.

The state is also considered the corporate capital of the world. With more established corporations than people, Delaware has a strong economy and offers plenty of jobs. It’s a great state in which to work, do business, or shop. Plus, the small-town vibe and coastal sunrises make living in Delaware relaxing and enjoyable.

Delaware Payday Loans and Cash Advance Rules and Regulations

People who live or work in the area might wonder if they can take advantage of loan opportunities to improve their cash flow, especially around busy shopping seasons. Although certain types of small loans are not legal in every state, including the three that border this state, Delaware payday loans are permitted. However, the limit for each loan is $1,000, and legislation that was passed in 2012 prohibits borrowers from taking out more than five loans a year. The average APR for Delaware payday loans is 521 percent (%). There are no caps on finance charges or APR’s, but one lender cannot offer the same borrower more than one loan at a time. The minimum repayment term for a payday loan is 60 days.

Delaware cash advance loans are also legal. Although some people confuse current cash advances with payday loans, a traditional cash advance loan is pulled from an open line of credit, such as a credit card. The rates and fees for cash advances are typically more than the APR for purchases on a line of credit.

Delaware Personal Loans and Installment Loan Options

Many Delaware cash advance companies offer loans with low maximums. While these are technically personal or installment loans, they may be marketed as payday loans. The benefit to these options is that they offer more than $1,000 at a time. People who are approved for Delaware installment loans should be able to walk out with cash in hand the same day.

Delaware personal loans and installment loans usually have more conditions than the other lending options. Borrowers must meet minimum income requirements or have a bank account. However, Delaware installment and personal loans may be available even for individuals with poor credit. Lenders can charge high interest rates for Delaware installment loans, though. It’s not unheard of to pay an APR of 240% or 360% for an installment loan. Delaware personal loans may be the best choice for those with reasonable credit scores. These loans are typically written for amounts over $1000 and up to $5K with our nationwide platform.

References:

“Bargain hunters cross state lines to shop tax-free” USA Today, 22 November 2017, https://www.visitdelaware.com/things-to-do/shopping/. Accessed on 1 December 2018.

“Can Delaware maintain its corporate capital status” Delaware Business Times, 5 March 2015, http://www.delawarebusinesstimes.com/delaware-corporate-capital/. Accessed on 1 December 2018.

“Lawmakers eye caps on changing payday lending industry” Delaware Online, 26 August 2016, https://www.delawareonline.com/story/news/local/2016/08/26/lawmakers-eye-caps-changing-payday-lending-industry/87632062/. Accessed on 1 December 2018.

“Legal Status of Payday Loans by State” PayDay Loan Consumer Information, https://paydayloaninfo.org/state-information. Accessed on 1 December 2018.

“This map shows the states where payday loans charge nearly 700 percent interest” CNBC, 3 August 2016, https://www.cnbc.com/2018/08/03/states-with-the-highest-payday-loan-rates.html. Accessed on 1 December 2018.

Real Per Capita Income in Delaware

Statute for Delaware payday loans and cash advances. Personal loans and installment options qualify for larger amounts through our secure form. State laws and statutes can change at anytime and the information above or below may become slightly out-of-date as we update frequently.

(Source: U.S. Census Bureau, Census 2010 Population)

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