Payday Today arranges loans for Texas residents as a licensed Credit Access Business, OCCC License No. 2500080656-174590, with fully online applications, same-day funding options, and no prepayment penalties.
Credit Access Business (CAB) Disclosures
Same-Day Payday Loans and Installment Loans for Texas Residents
Borrow $100 to $4,000 Online in Texas.
Borrow between $100 and $4,000 with an application that takes about five minutes. Approved funds can arrive the same day by debit card transfer or direct deposit.
Any Texas resident is eligible to apply.
What Are Online Payday Loans in Texas?
A payday loan in Texas is a short-term loan designed to cover urgent expenses before your next paycheck, repaid on a schedule that matches how often you are paid.
In Texas, these loans work differently than in most states: they are arranged through a licensed Credit Access Business rather than issued by the company you apply with. Payday Today operates as a CAB, which means we match your application with a third-party lender, handle the process from application to funding, and disclose every fee before you sign anything.
Loan amounts run from $100 to $1,800, and qualified applicants can receive funds the same day. Your due dates are set to your income schedule: five payments if you are paid monthly, and ten payments if you are paid weekly, biweekly, or semi-monthly. There are no store visits, no paperwork to mail in, and no penalty for paying the balance off early.
How to Apply for a Payday Loan Online in Texas
The entire process happens online, from the first form field to the money arriving in your account. No store visits, no faxing documents, no waiting in line. Here is how it works for Texas borrowers, start to finish.
Complete the online application
Basic contact, income, and banking details. Most applicants finish in about five minutes from a phone or computer.
And NO CREDIT CHECKS!
Get matched with
a lender
Your application is reviewed against a network of lenders rather than a single approval desk, which matters if your credit history is thin or imperfect. Again, there are no credit checks!
Receive your funds
Once approved and signed, money moves by debit card transfer or direct deposit, often the same day you apply.
Payday Loan Costs and Fees in Texas
The CAB fee is $25 for every $100 borrowed, charged each payment period, plus 9.90% annual simple interest that accrues daily on your outstanding balance. Payment due dates follow your income schedule, which means five payments for monthly income and ten payments for weekly, biweekly, or semi-monthly income.
On a $300 payday loan for a borrower paid monthly, the first payment is $75 in fees plus about $2.50 in interest. Paying the balance in full on that first due date brings the total to $377.50. Payday loan payments cover the fees, and you choose how much principal to pay down along the way, so carrying the balance across the full term costs more and leaves principal owing at the end.
Two additional charges apply. A late fee of $7.50 or 5% of the payment, whichever is greater, applies when a payment is ten or more days past due. A returned payment carries a $30 dishonor fee. Every figure appears in your Truth in Lending Disclosure before you sign.
Installment Loans in Texas from $300 to $4,000
Texas installment loans through Payday Today cover larger expenses than a payday loan and force a set paydown of principal with every payment. Amounts range from $300 to $4,000, with equal payments due on your income schedule: five payments if you are paid monthly, ten payments if you are paid weekly, biweekly, or semi-monthly.
How Installment Loan Repayment Works
Each payment is an equal amount combining principal and finance charges, sized so the balance reaches zero on the final scheduled payment. Payments draft automatically by ACH or debit card, and reminders go out before each due date. Paying the loan off ahead of schedule costs nothing extra and reduces the total interest you pay.
When an Installment Loan Fits Better Than a Payday Loan
If the expense is too large to repay from a single paycheck, an installment loan keeps individual payments manageable. Car repairs, medical bills, and moving costs are the common cases. If you only need to bridge a single pay period and can clear the balance on your first due date, a payday loan costs less in total.
Payday Loans vs Installment Loans in Texas
Both loan types are arranged the same way in Texas, through a licensed Credit Access Business, with a fully online application and same-day funding options. The difference comes down to how principal gets repaid: a payday loan requires the fees each period and leaves the paydown to you, while an installment loan builds a set principal paydown into every payment so the balance clears on the final one.
| Payday Loan | Installment Loan | |
|---|---|---|
| Loan amount | $100 to $1,800 | $300 to $4,000 |
| Repayment | Fees due each payment period, principal paydown at your discretion | Equal payments that clear the balance by the final payment |
| Loan term | 5 payments (monthly income) or 10 payments (weekly, biweekly, semi-monthly) | 5 payments (monthly income) or 10 payments (weekly, biweekly, semi-monthly) |
| Best for | Bridging a short gap until payday | Larger expenses like car repairs, medical bills, or moving costs |
| Funding speed | Same day available for approved applicants | Same day available for approved applicants |
| Cost structure | $25 CAB fee per $100 borrowed each payment period, plus 9.90% annual interest | $25 CAB fee per $100 borrowed each payment period, plus 9.90% annual interest |
| Early payoff | Allowed, no prepayment penalty | Allowed, no prepayment penalty, and it reduces total interest |
| How it’s arranged | Through a licensed Texas CAB | Through a licensed Texas CAB |
A $250 loan run across ten biweekly periods makes the difference concrete. The payday loan costs roughly $634 in fees and interest, and the $250 principal is still owed at the end unless you have paid it down along the way. The installment loan costs about $630 across ten payments of $87.96, and the balance reaches zero on the final payment. If you can clear the balance on your first due date, the payday loan is cheaper. If you cannot, the installment structure gets you to a paid-off loan for close to the same total, and early payoff without penalty is available on both.
Eligibility Requirements for Texas Borrowers
Qualifying takes four things: an active personal cell phone, a valid government-issued photo ID, a bank-issued debit card, and a checking account with direct deposit. Credit history is considered but is not the deciding factor; income and ability to repay carry more weight. Prepaid card accounts such as Netspend or Varo do not qualify. Federal law prohibits lending to active-duty military members and their dependents under the Military Lending Act.
Texas Cash Advance Loans
A cash advance is the same product as a payday loan in Texas, with funding from $100 to $1,800 and payments due on your income schedule. The full breakdown of amounts, repayment options, and same-day funding is on our Texas cash advance loans page, including answers to the most common cash advance questions.*
*Terms and conditions vary by location and applicable ordinances. The CAB fee is a finance charge for APR purposes. Not available to borrowers covered by the Military Lending Act (“MLA”).
How Texas Regulates Payday and Installment Loans
Payday and installment lending in Texas is overseen by the Office of Consumer Credit Commissioner, the state agency that licenses and examines Credit Access Businesses. Payday Today operates under this CAB framework, OCCC License No. 2500080656-174590, which requires every fee to be disclosed before any agreement is signed. Some Texas cities also apply local ordinances that limit payday loan amounts relative to the borrower’s gross monthly income, so available terms can vary by city. Questions or complaints about a Texas credit transaction can be directed to the OCCC at occc.state.tx.us or 512-936-7600.
Online Loans Available Across Texas
Because every step happens online, borrowers anywhere in Texas can apply, from Houston and San Antonio to Dallas, Fort Worth, Austin, and El Paso. There are no store locations to visit and no regional cutoffs; the same application, funding timeline, and repayment options apply statewide.
Texas Payday Loan Frequently Asked Questions
Are payday loans legal in Texas?
Yes. They are arranged through licensed Credit Access Businesses regulated by the Office of Consumer Credit Commissioner. Payday Today operates under this CAB model.
How much can I borrow with a Texas payday loan?
Between $100 and $1,800, depending on your income and the lender’s review. Larger needs from $300 to $4,000 are handled through installment loans.
Does Payday Today Run Credit Checks?
No. Credit checks are not required.
How fast is funding?
Approved applicants can receive money the same day by debit card transfer or direct deposit to a checking account.
Do payday loans in Texas require good credit?
No. Applications are evaluated on income and repayment ability, and imperfect credit does not automatically disqualify you.
When do I repay a payday loan?
Payments are due on your income schedule: five payments if you are paid monthly, ten if you are paid weekly, biweekly, or semi-monthly. Each payment covers the period fees, you decide how much principal to pay down, and you can pay the balance in full at any time without penalty.
What happens if I pay late or a payment is returned?
A late fee of $7.50 or 5% of the payment, whichever is greater, applies once a payment is ten or more days past due. A payment returned for any reason carries a $30 dishonor fee.
What happens if I have not paid the principal by the end of the term?
If the balance is not paid to zero by the final scheduled payment, the loan refinances with a new fee based on the remaining principal. Paying down principal during the term reduces both the balance and future fees.
May I increase the amount of my payday loan?
Yes. Please call 888-212-5565, and one of our agents will be happy to assist you.
Texas Installment Loan Frequently Asked Questions
What is an Installment Loan?
An Installment Loan ranges from $300 to $4,000 and is repaid over a longer period in multiple scheduled payments, typically every two weeks or monthly.
How is it different from a Cash Advance?
Installment Loans build a set principal paydown into every payment, so the balance is paid in full by the final scheduled payment. A Cash Advance requires the fees each period and leaves the principal paydown up to you.
Does Payday Today Run Credit Checks?
No. Credit checks are not required.
How soon will I receive funds?
Once approved, you can receive your funds the same day via debit card or direct deposit to your checking account.
How do I make payments?
Payments are made automatically by ACH or debit card, so you never need to visit a store. We’ll send reminders to keep you on track.
Can I pay off my loan early?
Absolutely. You can pay off your Installment Loan at any time without penalty, and you’ll save on future interest.
Do you check credit?
We don’t rely solely on credit reports. We look at your income and ability to repay when reviewing your application. Your credit history may be checked as part of the approval process.
What happens if I miss a payment?
If you miss a payment, please contact us right away. We’ll work with you to discuss options and help you avoid additional fees.
Will my loan appear on my credit report?
Payday Today does not directly report to credit bureaus. However, if your loan goes to collections, the 3rd party collection agency may choose to report unpaid balances.
How do I know the total cost of my loan?
Before you agree to any loan, we’ll provide a Truth in Lending Disclosure that clearly shows the amount you’ll repay, including all fees and finance charges.
May I increase the amount of my installment loan?
Yes. Please call 888-212-5565, and one of our agents will be happy to assist you.
