Payday Loans and Cash Advance in Yuma, AZ
Prohibited since 2010; 36% consumer loan cap in Arizona. What a shortfall looks like on Yuma rent and pay, the local rules, who to call for help, and how to request a cash advance online.
Yuma feeds the country in winter. From November through March the fields around the city supply most of the leafy greens sold in the United States, and tens of thousands of farmworkers, packers, truckers and equipment operators are working full weeks. By late spring the harvest moves north and hours drop, so a large share of Yuma households live on a seasonal cycle where the money has to last. Marine Corps Air Station Yuma and the Yuma Proving Ground anchor the other side of the economy, along with Yuma Regional Medical Center, the school districts, the county and a steady retail and hospitality trade from winter visitors. Rents are lower than in Phoenix, but so are wages, and a summer APS bill after weeks of 110-degree heat can be as large as a car payment. When the harvest ends, a $500 gap tends to appear in May or June: a repair on the truck that gets someone to the fields, a deposit, or a bill that piled up while hours were short. Arizona's ban on payday loans applies in Yuma, and this page explains what licensed consumer lenders can charge instead and where to get help first.
What a $500 Shortfall Looks Like in Yuma
Yuma's median household income of $65,482 is about $5,457 a month before taxes, so a $500 shortfall is roughly 9.2 percent of a typical month's income, the highest share of any city on this site. Against the median gross rent of $1,114 it is about 45 percent of one month's rent. In a farmworker household the annual figure is earned mostly between November and March, so a $500 gap in June has to be covered from savings, a second job or borrowing, and a loan due in 30 days lands in the thinnest part of the year.
Arizona Rules That Apply in Yuma
| Rule | AZ |
|---|---|
| Maximum amount | No payday product; consumer lender rates are set by balance tier rather than a loan cap (A.R.S. 6-632) |
| Maximum fee per $100 | No payday fee; consumer lenders are capped at 36% a year on the first $3,000 and 24% above that (A.R.S. 6-632), plus an origination fee of up to 5% but not more than $150 (A.R.S. 6-635) |
| Maximum term | Not applicable; consumer lender loans are installment loans with no payday-style term limit |
| Rollovers | Not applicable; the deferred presentment statute expired July 1, 2010 |
| $300 for 14 days | $4.14 fee, 36% APR |
The full law, the regulator's phone number and the statute citations are on the Arizona cash advance page.
Local Ordinance in Yuma
Yuma has no city ordinance setting the cost, size or term of a small loan; Arizona's deferred presentment (payday loan) law expired on June 30, 2010, and small consumer loans are governed statewide by the Consumer Lenders Act, A.R.S. Title 6, Chapter 5, under the Arizona Department of Insurance and Financial Institutions.
Free Help in Yuma Before You Borrow
- 2-1-1 Arizona: Free statewide referral line for utility assistance, rent and shelter, food programs and a housing crisis hotline, 9 a.m. to 7 p.m. daily in English and Spanish; toll-free 877-211-8661. Call 211 or visit 211arizona.org.
- WACOG Community Action, Yuma office: Region IV Community Action Agency for Yuma, La Paz and Mohave counties: LIHEAP utility bill assistance, rent and mortgage help, weatherization and housing counseling; 1235 S. Redondo Center Drive. Call (928) 782-1886 or visit wacog.com.
- Yuma Community Food Bank: Food distributions and a mobile food bank across Yuma County; 2404 E. 24th Street, weekday mornings. Call (928) 343-1243 or visit yumafoodbank.org.
- Take Charge America: Arizona nonprofit credit counseling agency offering free budget reviews, debt management plans and HUD-certified housing counseling by phone. Call (866) 750-9618 or visit takechargeamerica.org.
Frequently Asked Questions
Can I get a payday loan in Yuma?
Not a traditional one. Arizona's payday loan statute expired on June 30, 2010, so no lender may make a deferred presentment loan in Yuma or anywhere in the state. A cash advance request here is matched with consumer lenders licensed by the Department of Insurance and Financial Institutions under the Consumer Lenders Act, or with auto title lenders registered under a separate law. Ask which one you are dealing with before you sign.
What is the most a consumer lender can charge in Yuma?
A.R.S. 6-632 caps the finance rate at 36 percent per year on the first $3,000 of principal and 24 percent on anything above that, with fees limited by statute and everything disclosed in writing. Title loans under A.R.S. 44-291 are allowed much higher monthly rates on the vehicle's title, so a $500 title loan can cost several times what a consumer loan would. The 36 percent cap is the number to hold a lender to.
I work the winter harvest in Yuma. Should I borrow in the off-season?
A loan due in 30 days is hardest to repay in May or June when hours are short, which is exactly when most Yuma households feel the gap. Before borrowing, call WACOG about utility and rent assistance and the food bank to free up cash, and ask 2-1-1 about seasonal programs. If you still need a loan, keep it to an amount a single off-season check can cover, and confirm the lender holds a DIFI license.
Does Yuma or Yuma County have its own rule on small loans?
No. The cost, size and term of a consumer loan are set by Arizona state law and enforced by the Department of Insurance and Financial Institutions, whether the lender is on 4th Avenue, in San Luis or online. Local government only decides where a storefront can open. Get the finance charge and the total repayment amount in writing, and report a lender quoting more than the state caps to DIFI.
