Payday Loan Statistics 2026
State-by-state data on APR limits, maximum loan amounts, fees, and market volume. Updated June 2026. Sources: CFPB, PEW Charitable Trusts, state regulators.
National Payday Loan Statistics
Annual Payday Loan Volume
$28.85 billion
CFPB 2024 Report
Active Borrowers
12 million
PEW Charitable Trusts
Average Loan Amount
$375
CFPB
Average Fee per $100
$15-$20
CFPB
Average APR
391%
CFPB
States Where Legal
35
State Regulations
States Where Illegal
12
State Regulations
Repeat Borrowers
80%
PEW
States Where Payday Loans Are Legal
| State | Max Amount | Max APR | Avg Fee | Annual Volume | Borrowers |
|---|---|---|---|---|---|
| Texas | No cap | No cap | $10/$100 | $1.2B | 1.2M |
| California | $300 | 460% | 15% | $1.8B | 1.5M |
| Florida | $500 | 304% | 10% + $5 | $850M | 900K |
| Illinois | $1,000 | 99% | $1/$20 | $450M | 500K |
| Ohio | $1,000 | 28% | $30/$500 | $320M | 350K |
| Michigan | $600 | 390% | 15% | $380M | 400K |
| Nevada | No cap | No cap | $20/$100 | $410M | 380K |
| Missouri | $500 | 443% | $75/$500 | $290M | 310K |
| Alaska | $500 | 435% | $5/$50 | $90M | 80K |
| Delaware | $1,000 | No cap | $15/$100 | $170M | 150K |
| Hawaii | $600 | 459% | $17.65/$100 | $110M | 100K |
| Idaho | $1,000 | No cap | $15/$100 | $140M | 130K |
| Indiana | $550 | 391% | $15/$100 | $210M | 230K |
| Iowa | $500 | 337% | $15/$100 | $160M | 140K |
| Kansas | $500 | 391% | $15/$100 | $190M | 170K |
| Kentucky | $500 | 460% | $15/$100 | $200M | 190K |
| Louisiana | $350 | 391% | 16.75% | $210M | 220K |
| Maine | $2,000 | 30% | $0 | $60M | 50K |
| Montana | $300 | 36% | $0 | $70M | 60K |
| Nebraska | $500 | 459% | $15/$100 | $130M | 120K |
| New Hampshire | $500 | 36% | $0 | $50M | 45K |
| North Dakota | $500 | 487% | $20/$100 | $80M | 70K |
| Oklahoma | $1,500 | 390% | $15/$100 | $250M | 260K |
| Oregon | $50,000 | 36% | $13/$100 | $120M | 110K |
| Rhode Island | $500 | 261% | $10/$100 | $50M | 45K |
| South Carolina | $550 | 391% | $15/$100 | $240M | 250K |
| South Dakota | $500 | No cap | $17.65/$100 | $90M | 80K |
| Tennessee | $500 | 459% | $15/$100 | $280M | 290K |
| Utah | No cap | No cap | $15/$100 | $180M | 170K |
| Virginia | $2,500 | 36% | $0 | $400M | 380K |
| Washington | $700 | 391% | $15/$100 | $310M | 320K |
| Wisconsin | $1,500 | 574% | $22.93/$100 | $260M | 240K |
| Wyoming | No cap | No cap | $30/$100 | $70M | 60K |
| Alabama | $500 | 456% | $17.50/$100 | $280M | 270K |
| Mississippi | $500 | 572% | $22/$100 | $190M | 180K |
States With Restricted Payday Lending
| State | Max Amount | Max APR | Annual Volume | Borrowers |
|---|---|---|---|---|
| Colorado | $500 | 36% | $180M | 200K |
| Minnesota | $350 | 200% | $220M | 240K |
| New Mexico | $2,500 | 175% | $150M | 170K |
States Where Payday Loans Are Illegal
| State | Usury Cap | Annual Volume | Borrowers |
|---|---|---|---|
| New York | 16% (usury) | $0 | 0 |
| Georgia | 16% (usury) | $0 | 0 |
| Pennsylvania | 6% (usury) | $0 | 0 |
| Arizona | 36% (usury) | $0 | 0 |
| Arkansas | 17% (usury) | $0 | 0 |
| Maryland | 33% (usury) | $0 | 0 |
| Massachusetts | 20% (usury) | $0 | 0 |
| New Jersey | 30% (usury) | $0 | 0 |
| North Carolina | 36% (usury) | $0 | 0 |
| Vermont | 18% (usury) | $0 | 0 |
| West Virginia | 31% (usury) | $0 | 0 |
| Connecticut | 12% (usury) | $0 | 0 |
Sources: Consumer Financial Protection Bureau (CFPB), PEW Charitable Trusts, National Conference of State Legislatures (NCSL), state financial regulatory agencies. Data is estimated for 2026 based on historical trends and regulatory filings.
Disclaimer: CashAdvanceFinder.com is not a lender. This data is for educational purposes only. Laws and regulations change — always verify current rules with your state regulator before borrowing. Statistics are estimates based on publicly available data and may not reflect real-time market conditions.