Local briefing · AL
Payday loans in Emelle, AL
Before borrowing in Emelle, check two things: whether payday lending is allowed in Alabama, and what the state fee cap permits. Here, payday lending is permitted for licensed lenders in Alabama, inside the state fee cap. The sourced table below shows the exact cap, and the sections after it cover the real cost and the alternatives.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
Payday lending in Alabama
Permitted
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Payday loan rules that apply in Emelle
Every figure below is published by the state or the regulator that sets it, with a link to the primary source. These rules apply to any lender serving Emelle — Alabama's fee cap is not adjusted city by city.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 6% per annum without a written contract; 8% per annum by written contractSource quoteSource says: "except by written contract is $6 upon $100 for one year"; "the rate of interest by written contract is not to exceed $8 upon $100 for one year". (Code text retrieved from the Alabama Legislature's official Code of Alabama service.) | Alabama Legislature — Code of Alabama 1975, § 8-8-1 as of 2026-09-16 |
| Payday lending status | Permitted — deferred presentment services licensed by the supervisor; maximum advance $500; maximum fee 17.5% of amount advancedSource quoteSource says: "a maximum fee on any deferred presentment transaction not to exceed 17.5 percent of the amount advanced"; "The maximum amount that may be advanced in any deferred presentment transaction is five hundred dollars ($500)". | Alabama State Banking Department — Deferred Presentment Services Act (Code of Alabama §§ 5-18A-1 et seq.) as of 2026-09-16 |
| Small-loan / installment lender licensing | Alabama Small Loan Act license required from the supervisor for loans under $1,500; interest capped at 3% per month on the first $200 and 2% per month on $200–$1,500Source quoteSource says: "No person shall engage in the business of lending in amounts of less than one thousand five hundred dollars ($1,500)"; "without first having obtained a license from the supervisor"; "not exceeding three percent a month on that part of the unpaid principal balance not in excess of two hundred dollars". | Alabama State Banking Department — Alabama Small Loan Act (Code of Alabama §§ 5-18-1 et seq.) as of 2026-09-16 |
| State lending regulator | Alabama State Banking Department — Bureau of Loans (BOL)Source quoteSource says: "The Bureau of Loans (hereinafter “the BOL”) was established in 1945". The BOL administers the Small Loan Act, Consumer Credit Act, Pawn Shop Act, Mortgage Brokers Licensing Act, Deferred Presentment Services Act and SAFE Act. | Alabama State Banking Department as of 2026-09-16 |
| Parity lending rate provision (§ 8-8-1.1) | Any lender may charge the same rates as any federally or state-chartered or licensed lending institution in AlabamaSource quoteSource says: "may, on any loans or extensions of credit made by them, charge or impose the same rate of interest or finance charge". | Alabama Legislature — Code of Alabama 1975, § 8-8-1.1 as of 2026-09-16 |
What a payday loan costs in Emelle
What you may be charged in Emelle is capped by Alabama's law, not by the lender's discretion — the maximum fee and the maximum advance are both in the sourced table above. Two things are worth checking before you borrow: that the lender is licensed in Alabama, and that the APR on the disclosure matches what you were quoted. Our Alabama lending reference lists the regulator you can verify a license with.
Cheaper alternatives in Emelle
If you are already juggling payday loans, a nonprofit credit counselor can help you restructure the debt and deal with collectors. Nonprofit counseling is low-cost or free, and it is a better first call than taking a new loan to cover an old one. Getting out of payday debt.
About Emelle
- Population: 24 (US Census Bureau, Vintage 2023 subcounty estimate).
- Size in Alabama: the 461st-largest of 462 Census places in the state.
- Population trend: Its population fell about 22.6% between the 2020 Census base and the 2023 estimate.
- Nearest larger cities: Geiger, AL (10 mi); Epes, AL (10 mi); Gainesville, AL (11 mi). Bigger markets often have more lenders, but a lender licensed in Alabama serves Emelle under the same state rules.
Before you borrow in Emelle
- Confirm payday lending is permitted in Alabama and check the maximum fee in the table above.
- Compare the APR, not the dollar fee — that is the only way to compare a two-week loan with a two-year one.
- Run the numbers with our loan payment calculator to price the same amount as an installment loan.
- Verify the lender is licensed in Alabama with the regulator listed above.
- Never give a lender remote access to your bank account beyond the amount you actually owe, and ask for any repayment plan in writing.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
Frequently asked questions
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Nearby places
All Alabama citiesNearest Census places by distance.