Idaho Payday Cash Advance

Idaho payday cash advance services are available from around 213 companies operating throughout the state, according to the Idaho Consumer Finance Bureau.

Payday loans are short-term, small dollar amount financial products, usually paid back on the borrowers next payday, typically within a few weeks.

Normally, the repayment of the debt takes place by a personal check (left to the payday lender), or via an electronic debit transfer from the customer's bank account.

These services have been very popular in Idaho, with nearly 500,000 payday advances approved every year in the state, for an average sum of $371 per loan.

Most states in the United States regulate payday lending very heavily, and Idaho is no exception.

The main payday loan laws in Idaho regulating this industry are under the Idaho Credit Code by the Idaho Department of Finance, plus the federal Truth in Lending Act.

The Idaho laws regulate many aspects of payday lending in the state, including licensing of the companies, maximum dollar amount of a loan, and what types of disclosures are provided to the borrower.

Before entering a payday loan arrangement in Idaho, you should familiarize yourself with the applicable laws, regulations, and payday loan alternatives, from information at Idaho Department of Finance and elsewhere, to get to know your rights as a consumer.

Also, make sure that you are dealing with a licensed payday lender. Idaho Department of Finance has a list of the current licensees on their official website, located at

Idaho Payday Cash Advance Loan Services

As an alternative to a payday advance (with possible lower annual percentage rates (APRs)), the Idaho Department of Finance suggests looking at loans from sources such as banks, credit unions, or smaller loan companies, your family members, as well as your employer.

If you decide to go with a payday lender, the state has over 200 licensed cash advance companies to choose from.

Among the more popular of these is ACE Cash Express, which has been in business since 1968, and within many of its locations, provides a wide variety of financial products, including payday advances, bill payment, and title loans.

All in all, ACE operates a network of over 1,700 outlets in 37 states, most of which are directly owned by the company.

Another popular payday lender in Idaho is Advance America, the nation's largest cash advance company (with over 2,400 outlets in total).

Advance America was founded back in 1997, and since, has grown rapidly under the ownership of Grupo Elektra, a Latin American conglomerate operating in banking, consumer finance, and specialty retailing.

The company has locations in the main cities within the state, including Boise (with 2 bricks-and-mortar stores for payday loans).

› Idaho Payday Cash Advance

Cash advances should be used for short-term financial needs only, not as a long-term financial solution.

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