Payday Loans Yakima WA

Access quick cash in Yakima, WA, with zaving's hassle-free online application process for payday loans.

Last updated by Zaving Editorial Team, on April 18th, 2024

In need of financial assistance in Yakima, WA? zaving provides a hassle-free solution with its user-friendly online platform for payday loans. Experience a straightforward application process, access quick funds, and address your financial needs seamlessly. Apply today and get started with zaving!

What are payday loans and can I get them in Yakima, WA?

Payday loans are short-term loans designed to provide immediate access to funds, typically for urgent financial needs. In Yakima, like the rest of Washington state, payday loans are accessible through various lending channels, including storefront lenders and online platforms. These loans are usually available to individuals who meet certain eligibility criteria.

Eligibility requirements for payday loans in Yakima typically include:

  • Being at least 18 years old
  • Demonstrating a stable source of income
  • U.S. citizenship or permanent residency
  • Residency in the State of Washington
  • Possession of a valid government-issued ID
  • Maintaining an active checking account

It's important to note that payday loans often come with high fees and interest rates. Before applying for a payday loan in Yakima, potential borrowers should carefully review the terms and conditions, assess their ability to repay the loan on time, and explore alternative borrowing options if possible. Additionally, understanding the regulations governing payday lending in Washington state can help borrowers make informed decisions regarding their finances.

What are the rules for payday loans in Washington?

In Washington state, payday loans are permitted under specific regulations.

Here's a breakdown of the key rules governing payday loans in the state:

Loan amount:

  • There is no minimum specified loan amount.
  • The maximum loan amount is $700 or 30% of the borrower's gross monthly income, whichever is lower.

Loan term:

  • While there's no minimum loan term, payday loans must be repaid within 45 days of issuance.

Finance charges:

  • Lenders can charge a finance fee of up to 15% of the principal for loans under $500.
  • For loans exceeding $500, the finance fee can be up to 10% of the amount over $500.

Interest rate (APR):

  • Payday loans in Washington state can carry an annual percentage rate (APR) of up to 391%.


  • Rollovers, which involve extending or refinancing the loan, are strictly prohibited.

Before considering a payday loan, borrowers should carefully review these regulations and assess their ability to repay the loan on time.

What are the pros and cons of payday loans in Yakima?

When considering payday loans in Yakima, it's essential to evaluate their advantages and disadvantages:


  • Accessibility: Payday loans offer quick access to cash, which can be crucial for Tacoma residents facing urgent financial needs or emergencies.

  • Convenience: The application process for payday loans in Tacoma is usually straightforward, with options for online or in-person applications, catering to different preferences.

  • Flexible loan amounts: Tacoma's regulations allow for varying loan amounts, accommodating borrowers with different financial needs, whether large or small.

  • Potential approval for poor credit: Payday lenders in Tacoma may have more lenient credit requirements compared to traditional lenders, making payday loans accessible to individuals with less-than-perfect credit histories.


  • High costs: Payday loans in Yakima often come with high fees and interest rates, resulting in significant borrowing costs for borrowers.

  • Short repayment terms: Borrowers typically have a short repayment window, often around 45 days, which can be challenging for those with limited financial resources.

  • Risk of debt cycle: Due to the high costs and short repayment terms, borrowers may find themselves trapped in a cycle of debt, continuously borrowing to cover previous loans.

  • Predatory lending practices: Some payday lenders in Yakima may engage in unethical practices, such as deceptive advertising or aggressive debt collection tactics, potentially exploiting vulnerable borrowers.

More of your frequently asked questions about payday loans in Washington

Can I take out multiple payday loans in Washington?

Although Washington residents can access multiple payday loans, they are restricted to a maximum of eight loans from all licensed lenders within a 12-month period. Moreover, individuals with an active installment plan are ineligible for additional payday loans.

What happens if I can't repay my payday loan in Washington?

If you're unable to repay your payday loan on time in Washington, it's vital to communicate with your lender at the earliest opportunity. You have the option to request an installment plan without incurring additional fees. Typically, debts of $400 or less can qualify for a 90-day plan, while larger debts may be eligible for at least 180 days. While there might be a one-time fee for insufficient funds, and the lender can pursue collection costs, including legal fees, it's important to note that criminal action is not allowed.

Can I get a payday loan in Washington with bad credit?

Yes, it's possible for individuals with bad credit to still get a payday loan in Washington. Payday lenders typically have less stringent credit criteria than traditional financial institutions, allowing borrowers with poor credit scores or limited credit histories to access these loans. Instead of solely basing their decision on creditworthiness, payday lenders usually evaluate a borrower's income and their ability to repay the loan within the stipulated period. However, it's essential to understand that while bad credit may not necessarily prevent you from obtaining a payday loan, it might result in higher interest rates or fees.

What are some alternatives to payday loans in Washington?

Washington residents have several alternatives to payday loans that they can explore. One option is to seek small personal loans from credit unions or community banks, which often feature lower interest rates and more flexible repayment plans. Additionally, there are local nonprofits or community organizations that offer financial assistance or affordable loan options. Furthermore, individuals can consider government assistance programs like emergency aid or unemployment benefits as alternatives to payday loans, providing temporary financial support in times of need.