Payday loans are prohibited in the state of Pennsylvania. Short term loans are allowed, but lenders must be licensed in the state and charges are limited to $9.50 per $100 per year, plus an additional service charge of $1.50 per $100 per year.
Regulating the fine line of payday lending in Pennsylvania is the Pennsylvania Statutes. Restrictions on business of licensee.
We at PayDayAllDay strongly suggest our consumers to do their research, and carefully analyze and compare the terms of services, rates, fees, and other conditions offered by several lenders before engaging in any borrowing activity.
