Installment Loans in Ohio

Steps

1. Submit one request through LendUp or contact a licensed lender directly.
2. Gather your ID, proof of income, and bank details for direct deposit and repayment.
3. Review the offer for the full payment schedule and the total amount you'll repay over the term.
4. Before you sign, confirm the payment schedule and total repayment amount, then save a copy of the agreement.

What to expect

• Credit check: Many Ohio installment lenders check your credit or use another consumer report. If you have a credit freeze in place, you may need to temporarily lift it to complete the application.
• Payment schedule: Ohio's Consumer Installment Loan Act requires loans to be repaid in substantially equal, consecutive monthly installments. Confirm the due dates and amounts are spelled out in the agreement before you sign.
• Timing: Ask whether funds arrive by direct deposit or are loaded to a card, and get the expected deposit date in writing before signing.
• Total cost: The monthly payment is only part of the picture - ask for the total amount you'll repay over the full term, listed as the finance charge (plus principal) on the agreement.

Before you apply, confirm the company is authorized to lend to Ohio borrowers using the Ohio Division of Financial Institutions' official license lookup.

1. On the lookup page, select Division of Financial Institutions as the board/agency from the dropdown.
2. In the License Type field, select Consumer Installment Loan Act (CI) - or General Loan Law (GL) or Small Loan Act if the lender indicates a different license type.
3. Search by the lender's full legal name (not just the website or brand name) and confirm the address matches what appears in the offer.
4. Open the result and verify the status shows Active. Note any disciplinary actions or restrictions listed on the record.
5. If the company handling your payments is different from the lender named in the offer, look that company up separately.

To report an unlicensed lender or a problem with a licensed company, contact the Ohio Division of Financial Institutions at com.ohio.gov - Division of Financial Institutions.

Your rights in Ohio

• Written contract required: Your lender must provide a written loan agreement that includes the full payment schedule, all fees, and the total amount you'll repay. No blanks are permitted at signing.
• Early payoff: You have the right to pay off your installment loan early. If your loan is precomputed, the lender must credit you with a refund of unearned interest when you pay ahead of schedule.
• No refinancing within 120 days: Under Ohio's Consumer Installment Loan Act, a lender cannot refinance your loan within the first 120 days of the loan term.
• Unlicensed loans are void: If a lender makes an installment loan without the required Ohio authorization, the loan contract is void and the lender has no right to collect any principal, interest, or fees.
• Equal credit access: Ohio law requires that all creditors make credit equally available to all creditworthy customers. The Ohio Civil Rights Commission enforces this requirement.

Walk away if

• An upfront fee is required before you can receive funds or "unlock" an offer.
• The lender shows only the monthly payment and won't state the total repayment amount in writing.
• Automatic withdrawals are required from a prepaid card or an account you can't monitor daily.
• The company won't provide a clear payment schedule with due dates before you sign.
• You're pressured to sign immediately, with threats that your offer expires if you don't act right away.

If a loan doesn't fit your budget, review Alternatives or our scams and safety checklist before sharing personal information.