Payday Loan Alternatives in St. Louis

A line of credit is a great alternative to a payday loan.

Neighborhood Trust offers lines of creditup to $2,000*

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Head to our Rates & Terms page to learn more.

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Get a payday loan alternative in St. Louis, MO.

Neighborhood Trust offers Missouri residents a line of credit as a payday loan alternative. If approved, you can receive a credit limit of $550 to $2,800*. New customers can qualify for up to $2,000*.

With a line of credit, you don't need to reapply when you need more funds. You can draw from your available credit limit, and you’ll only be charged interest and fees on the amount you borrowed.

Apply now for a line of credit in St. Louis, MO.

St. Louis Payday Loan vs. Neighborhood Trust ’s Line of Credit

St. Louis payday loan1
Funding amount
Up to $500
APR
Average of 377%
Repayment
Pay in full — 14 - 31 days
Additional funding
Reapply to borrow more
Neighborhood Trust ’s line of credit2
Funding amount
Up to $2,000*
APR
325%
Repayment
Revolving credit with billing periods that may be bi-weekly, semi-monthly or monthly depending on borrower’s pay schedule
Additional funding
Draw from available credit without reapplying

1Based on information from Pew Charitable Trusts. Actual terms may vary based on applicant's qualifications.

2Based on terms available to new customers. Actual terms may vary based on applicant's qualifications. For full product details, see Rates & Terms.

Learn more about payday loan alternatives in St. Louis, MO.

Missouri payday borrowers can get a $500 maximum loan amount. Other Missouri state laws regarding payday loans include:

  • The loan repayment period is 14 to 31 days.
  • Borrowers are limited to six rollovers.
  • Borrowers may only have one outstanding loan at a time.

Neighborhood Trust offers a line of credit as an alternative to payday loans. Borrowers can get $550 to $2,800* and new customers can qualify for up to $2,000*.

  • You can repay your line of credit in smaller payments over a longer period of time.
  • As long as you’re in good standing your line of credit will be available until you close the account.
  • As long as you haven’t reached your credit limit you can take a draw whenever you need funds.

While payday loans provide quick cash, that speed comes with a cost — high interest rates. In St. Louis, the average APR for a payday loan is 377%.

Payday loans typically must be repaid in full at once, which is usually just a couple of weeks. Borrowers may not have the full amount, which can lead them to extend the unsecured loan. In Missouri, payday loans can be rolled over up to six times, which creates opportunities to increase debt.

Other borrowing options, like lines of credit and installment loans, can help borrowers meet their financial needs and allow them to repay their debt in smaller amounts over longer periods of time.

There are credit services, money management programs and other resources in St. Louis. Contact the following financial services for assistance:

Operation HOPE
1200 Market Street, Suite 120
St. Louis, MO 63103
314.613.3196

LifeWise STL
1321 South Eleventh Street
St. Louis, MO 63104
314.421.0400

Disclaimer - The named parties are not affiliates or agents of Neighborhood Trust We make no representations, warranties or guarantees about the information or services provided by the named parties.

Neighborhood Trust ’s line of credit. Lines of credit give you access to credit that you can use when you need it. You can borrow up to your credit limit or only draw a portion, and you only pay interest and fees on the amount you borrow.

Installment loan. With an installment loan, you receive an amount of money up front and pay it back over a set period of time, along with interest and fees. The installment loan minimum is $500 in the state of Missouri. State law specifies that these types of personal loans must be repayable in at least four equal installments, and the repayment period must be at least 120 days.

Title loan. A title loan lets you use your car as collateral in exchange for funds. Just know that if you default, your lender may repossess your vehicle. Using a mobile home as collateral is prohibited in Missouri.