Same day Illinois payday loans are available to help consumers in need of emergency cash. These loans are available through a vast network of storefronts. Consumers just need to provide the lender with their most recent pay stub to qualify. If approved, the loan can reach their bank account the same day, or within one business day. However, there are some restrictions. For instance, the maximum loan amount is $865. However, this amount can be increased if you are a returning customer.
The number of Illinois payday loans has been in the hundreds of thousands for the past decade. Today, there are around 238,000 people who use these loans each year. Some of the largest cities where these loans are popular include Chicago, Springfield, Freeport, Rockford, and Aurora. Other cities that have seen significant growth in the number of loans offered include Bloomington, Alton, and Hanover Park. Due to the increasing digitalization of the Illinois payday loan industry, more consumers can now benefit from these loans.
Most Illinois payday loans last for two to four weeks. Those with a bad credit score can still get approved for a loan in Illinois. Also, these loans can be repaid in equal monthly installments, so the borrower can pay it off faster. This is particularly useful for people who need to pay an emergency bill on a deadline.