Payday loan Sacramento providers include ACE Cash Express (8 locations) and Advance America (21 locations).
Cash advance lending has grown into a major industry in California ever since the loan type became legal and regulated in the state back in 1997.
Since the, the state has seen more than 2,400 new payday lending outlets throughout the state, including Sacramento.
As a type of debt, these are short-term consumer loans, for small dollar amounts, with a typical customer paying the borrowed money back on the next payday.
Uses for cash advances in California and elsewhere include emergencies, such as emergency travel expenses or unexpected expenses from an illness, but regularly also basic expenses (paying bills and buying groceries), to make the money last until next payday.
These loans are NOT meant as solutions for long-term money problems, particularly because of their high costs, as measured by annual percentage rates (APRs).
There are many types of alternatives to payday loans, which you should investigate, to find the best solutions for your short-term money management needs.
Alternatives include credit cards / secured credit cards, negotiations with your creditors (for which you can help from nonprofits such as Consumer Credit Counseling Services), and advances from employers.
You should also get to know the payday loan laws in California, including how they are authorized in statute as an exception to the California's Finance Lender's Law, to know your rights as a consumer.
In total, there are more than 2,400 cash advance outlets in California, providing over 10 million payday loans annually.
Among the more popular payday lenders in California is Advance America, which has 21 payday loan outlets within 20 miles of downtown Sacramento.
To find the closest store to you from these alternatives, you can use their "Store Finder" tool, available from the official website.
As a company Advance America is the nation's largest payday advance company, operating over 2,400 stores throughout the United States.
Another popular alternative is ACE Cash Express, with 8 payday advance locations near Sacramento, California.
ACE provides a variety of financial services from its outlets nationwide, including short-term consumer loans (payday loans), check cashing, and bill payments.
It is, in fact, the largest owner and operator of check cashing outlets in the nation, and the 2nd largest owner of payday loan stores, after Advance America.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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