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Rates & Terms - Illinois

Short Term Loan Stat License
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Short Term Loans is a direct lender licensed to make loans to Illinois residents. If you reside in a state other than Illinois, and submit an application on our site, we will attempt to match you with a lender from our large, established network. That lender will contact you regarding rates and terms.

Governing Law

The loan agreement will be governed by the applicable Illinois and Federal laws. Questions or complaints should be directed to the Illinois Department of Financial and Professional Regulation, available by clicking here.

Short Term Loan Stat License
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Illinois Guide to Payday Loans:

English: Download PDF
Spanish: Downloan PDF

Illinois Disclosures

  1. This loan is not intended to meet long term financial needs. This loan should only be used to meet short term needs. The cost of your loan may be higher than loans offered by other lending institutions.
  2. This loan is regulated by the Illinois Department of Financial and Professional Regulation.
  3. A lender cannot use the criminal process against a consumer to collect any payday loan.

Interest Free Repayment Plan

If you still owe on one or more payday loans, other than an installment payday loan, after 35 days, you are entitled to enter into a repayment plan. The repayment plan will give you at least 55 days to repay your loan in installments with no additional finance charges, interest, fees, or other charges of any kind.

Proof of Income

Illinois law requires that you provide us with proof of income dated within 30 days prior to receiving a payday or payday installment loan. You must fax or email your most recent paystub or other proof of income when applying to ensure quick processing of your loan. If you receive Social Security you must fax or email your benefits letter or bank statement showing direct deposit. Proof of income may be faxed to 888-556-2999 or emailed to

Finance Charges

  • Annual Percentage Rate 188.58%-435.19%
  • $15.50 PER $100.00 BORROWED
  • TERM OF 13-30 DAYS
  • TERM OF 112-180 DAYS


Amount of Loan Finance Charge Term Annual Percentage Rate
$100 $15.50 13 Days 435.19%
$400 $62.00 30 Days 188.58%
$400 $246.42 180 Days 188.58%