Ohio’s Short-Term Loan Act sets a $1,000 ceiling and ordinarily requires a term of 91 days to one year. A shorter term is possible only under the statute’s verified-income payment test. Check which product and term the contract actually identifies.
Ohio short-term loans generally have a 91-day minimum term and a one-year maximum; the minimum may be shorter only if monthly payments meet an income-based statutory threshold. Interest is capped at 28% annually, with specified additional charges and a total-fee cap. Review total scheduled dollars and installments, not just the stated rate.
Ohio’s Division of Financial Institutions regulates short-term lenders and provides license lookup and complaint resources. Search the exact legal company name before signing and save the contract and payment record. If the offer describes one-payment payday credit but its documents show a different product, ask the Division which license and statute apply.
Official reference: Ohio Revised Code § 1321.39. Checked November 11, 2026.