Payday Loans in Dallas

Hermosa Loans works with Texans throughout the state to help try to make financial emergencies easier. If you’re a Dallas resident in need of fast cash advance, we encourage you to complete an online loan request form.

Request Long and Short-Term Loans in Dallas, Texas

Whether you are looking to borrow a short-term loan or a long-term loan, Hermosa Loans may be able to help you start the process.
A short-term loan

is also known as a payday loan or cash advance. These are small-dollar loans that are usually repaid in a lump sum within two weeks.

A long-term loan,

also referred to as an installment loan, is a larger loan similar to a personal loan. Installment loans are repaid in equal monthly payments over a period of time. These loans are usually repaid within six to 12 months, depending on the borrowed amount.

Auto Title Loan

A title loan is a secured loan that can be used as an alternative to payday loans. The borrower uses their vehicle's title as collateral to secure the title loan. The loan term depends on the amount borrowed. For example, Dallas residents may get around 25% to 50% of their vehicle's value. If the loan applicant defaults on their title loan, the loan provider may legally repossess the car.

To request a title loan, applicants usually need to present the following documents:

Government-issued ID Lien-free car title Bank account Proof of residency

How Much Can I Borrow in Dallas, Texas?

In Dallas, Hermosa Loans operates as a loan request service. We are not a loan provider, and the payday lending decision is not up to us. Instead, we work with consumers to connect them to lenders who may be willing to offer short and long-term loans. Ultimately, the borrower’s eligibility for a loan is at the lender’s discretion.

  • The payday loan industry in Texas is regulated by the Texas Office of Consumer Credit Commissioner (OCCC), and payday loan companies must follow the rules and regulations imposed by the OCCC.
  • According to Texas law, residents can repay their loans between seven and 180 days. The annual percentage rate is not specified and depends on the lender and borrowed amount. Keep in mind that borrowers with lower credit scores may have to pay higher interest rates.
  • According to city law, residents of Dallas cannot borrow a payday loan or a cash advance that exceeds 20% of their gross monthly income. However, they can renew or rollover their loans up to three times.
  • Moreover, installment loans should be repaid in four equal payments. As a result, each payment must be 25% of the principal amount.

How to Qualify for a Payday Loan in Dallas, Texas?

Before you use our loan request service, ensure that you meet the basic requirements to qualify for a loan in Dallas. Applicants must:

Be a Texas resident

Be at least 18 years of age

Have a steady source of income

Have a checking account

If you have a savings account instead of a checking account, a lender may still be willing to work with you. Some lenders may even choose to provide you cash disbursements.

I Was Qualified for a Loan; Now What?

Let us be the first to say congratulations if you have been qualified for a loan from a lender in our network! Upon collection of your payday loan from the lender, you may be able to use the cash to cover an emergency expense, such as:
Unexpected bills
Medical bills
Debt consolidation
Credit card bill
Car repairs
Home repairs

Note that lenders may use your personal information to verify your identity and perform a credit check through a credit bureau

How Do I Pay Back My Loan in Dallas, Texas?

Hermosa Loans is not a direct lender. Therefore, you do not make any payments to us. Instead, lenders in our network may present you with several repayment options.

  • The preferred repayment method for lenders in Dallas is an automatic withdrawal from the borrower’s checking account. Although rare, you may be able to repay your loan using post-dated checks, a debit card, or cash payment.

Request up to $5,000 Now

Hermosa Loans works with a vast network of lenders and may offer more loan options to borrowers.
If you are searching for a short or long-term loan, complete our request form to connect with a lender who may be willing to work with you.

Frequently Asked Questions

What are the requirements to qualify for a loan in Dallas?

Each lender will set its own minimum financial and credit requirements. However, most lenders will typically require proof of steady income, identity verification documents like a government-issued ID, proof of a checking account, and fair to good credit standing. Moreover, the lenders will require that the applicant be at least 18 years old and a resident of Texas.

What's the APR for a short-term loan?

The average APR in Dallas ranges around 400% to 500%. However, the rate can differ based on the borrower's credit score, income, and credit history. Typically, borrowers with a lower score will have higher interest rates, and borrowers with higher scores may enjoy more favorable terms.

Does Hermosa Loans provide title loans in Dallas?

At this time, Hermosa Loans can only connect eligible consumers to lenders who may offer them short-term and long-term loans in the form of cash advances, payday loans, and installment loans.

What's the maximum number of loans I can have at the same time?

The city of Dallas does not explicitly state the number of outstanding loans you can have at one time. However, to practice healthy financial habits, it is best to only have one loan at a time. Having multiple loans simultaneously can cause you to incur more debt and negatively affect your credit score.

What's the minimum loan term?

The minimum loan term in Dallas is seven days, and the maximum is 180 days.