New York Payday Loans

2018 New York Lender Rankings

We have reviewed 13 New York payday loan lenders.

Our review of payday loans considers three areas: reputation, cost, and features. Reputation considers state licensing and Better Business Bureau scores. Cost is based on terms, fees, and rates. Features include things like credit reporting or fee transparency.

A listing in this table is not an endorsement. This table includes all lenders we have reviewed who offer loans to New York residents.

NY Lender Description Costs* Sniff Rating
PayDay Max
Stopped Accepting New Applications
No responses to BBB complaints.
Governing Law: Anguilla
Loan Amt: $300
APR: 485%
Cost: $56
Fair
Discount Advances
Stopped Accepting New Applications
No responses to BBB complaints.
Governing Law: Anguilla
Loan Amt: $300
APR: 456%
Cost: $53
Fair
MyCashNow
Stopped Accepting New Applications
F BBB Rating, Based in Canada.
Governing Law: Canada
Loan Amt: $300
APR: 485%
Cost: $56
Fair
Cash Advance Now
Tribal lender. Upfront disclosures and pricing.
Appear to have purchased name and domain in Sept 2012.
Governing Law: Tribe
Loan Amt: $300
APR: 782%
Cost: $90
Fair
MyPayDayLoan
Revamped website. Up to $600 1st time.
Been in business over 10 years.
Governing Law: Costa Rica
Loan Amt: $300
APR: 782%
Cost: $75
Bad
USAdvance
Not a state licensed lender.
Bsed in Federation of Saint Kitts and Nevis
Governing Law: St Kitts and Nevis
Loan Amt: $300
APR: 782%
Cost: $90
Bad
East Side Lenders
Offer loans in all states.
C- BBB rating. Dispute settled through arbitration.
Governing Law: DE
Loan Amt: $300
APR: 782%
Cost: $490
Fair
Tremont Lending
Appears to be basic tribal based lender.
Site updated with pricing. States not listed.
Governing Law: Tribe
Loan Amt: $300
APR: 782%
Cost: $90
Fair
Jupiter Funding Group
Very limited information on website.
No BBB Rating. No privacy policy.
Governing Law: DE
Loan Amt: $300
APR: 782%
Cost: $90
Bad
NationalPayday
One of the simplest applications.
No BBB Rating, Based in Costa Rica.
Governing Law: Costa Rica
Loan Amt: $300
APR: 651%
Cost: $75
Bad
AmeriCash Advance
No longer taking applications.
Taken over by Platinum Finance Co.
Governing Law: DE
Loan Amt: $300
APR: 782%
Cost: $90
Fair
Sonic Cash
Eligible states not listed.
Very little information available
Governing Law: unlisted
Loan Amt: $300
APR: 912%
Cost: $105
Fair
BorrowSource.com
Very limited information on website.
Appears to be unlicensed lender. Maybe offshore based.
Governing Law: unlisted
Loan Amt: ?
APR: ?
Cost: ?
Bad

* When avaiable we have shown pricing for New York residents. Check each lender's website for updated information. Some lenders will not provide pricing data until an application is completed.

New York Payday Loans Details

Payday lenders are prohibited by New York regulators from offering payday loans to New York residents. This means there are no New York licensed or regulated payday lenders in New York. Although The Payday Hound discourages it, New York residents may be able to choose from tribal, out-of-state, or foreign-based lenders for payday loans. See New York Payday Loan Laws for links to New York banking and finance regulators. These links will provide more information on the legal aspects of payday lending in New York. In states where payday lending is permitted, lenders are licensed and regulated by the state.

Unlicensed payday lenders include tribe-based lenders, lenders licensed in other states, and foreign-based lenders. Tribal and out-of-state licensed payday lenders operate under the interpretation that they can export their tribe or state laws into New York and are required to adhere to federal lending laws but not New York regulations. Federal laws may be less restrictive and less frequently enforced. The final group of lenders is foreign-based payday loan lenders. They export their countries' laws into New York and are highly unregulated. See How to Choose A Payday Loan for more details.

The above is our understanding of how payday lending works in New York, but we are not a law firm. Please contact the New York State Banking Department for more information.

The Payday Hound reviews payday lenders and ranks them according to our Sniff Test (reputation), costs, and licensing. The list below includes both regulated banks as well as off-shore entites. Being included on our list is not an endorsement or certification. The list is a ranking and is designed to help borrowers rate and judge the quality of lenders. This means it may include lenders we believe to be honest as well as those we would deem to be predatory.