- Payday loans in Providence follow Rhode Island law (Rhode Island deferred deposit law; 36% APR cap from January 1, 2027).
- We could not verify a fee cap for Rhode Island; check current limits with the Rhode Island Department of Business Regulation.
- Typical statewide APR: 261% (CRL, June 2023).
Providence at a glance
| Providence | |
|---|---|
| Population (2024 Census estimate) | 194,706 |
| Change since 2020 | +2% (growing) |
| County | Providence County |
| Size rank among 8 Rhode Island places we cover | 1st |
| Share of Rhode Island’s population | 17.5% |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Providence County | 7 |
| Other towns within 25 miles | 7 (about 384,983 residents) |
| Typical payday APR statewide (CRL 2023) | 261% |
Payday lending in Providence follows Rhode Island state law. Lenders that serve Providence, in a store or online, must be licensed by the Rhode Island Department of Business Regulation.
Credit unions near Providence
No credit union has its main office in Providence, but these are based elsewhere in Providence County (NCUA, June 2026):
- Pawtucket Municipal Employees Federal Credit Union in Pawtucket (federal charter — may offer payday alternative loans (PALs))
- Cumberland Municipal Employees Federal Credit Union in Cumberland (federal charter — may offer payday alternative loans (PALs))
- Blackstone River Federal Credit Union in Woonsocket (federal charter — may offer payday alternative loans (PALs))
- Community & Teachers Federal Credit Union in East Providence (federal charter — may offer payday alternative loans (PALs))
- Cranston Municipal Employees Credit Union in Cranston (state charter)
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
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Payday loan rules that apply in Providence
| Rule | Rhode Island |
|---|---|
| Big change | A 2025 law caps payday loans at 36% APR from January 1, 2027, which is expected to end triple-digit payday lending |
| Until then | Licensed deferred deposit lenders can still operate under current rules |
What a $300 loan costs in Providence
We could not verify a fee cap for Rhode Island; check current limits with the Rhode Island Department of Business Regulation. Statewide, the typical APR on a $400 payday loan was 261% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Providence County before you borrow
- Call or text 211 for help with rent, utilities and food in Providence County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Providence
- East Providence · 3 mi
- Pawtucket · 4 mi
- Central Falls · 5 mi
- Cranston · 5 mi
- Warwick · 8 mi
- Woonsocket · 13 mi
See all 8 Rhode Island cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Providence?
Yes. Payday loans are legal in Providence under Rhode Island state law, and lenders must be licensed by the Rhode Island Department of Business Regulation.
How much does a payday loan cost in Providence?
We could not verify a fee cap for Rhode Island; check current limits with the Rhode Island Department of Business Regulation. The typical statewide APR was 261% in 2023.
Where is the nearest credit union to Providence?
No credit union is headquartered in Providence, but Pawtucket Municipal Employees Federal Credit Union is based in Pawtucket, also in Providence County.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- Center for Responsible Lending — Rhode Island caps payday loans at 36%
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary