Best Business Loans in Ohio
Term loans, SBA-backed loans, lines of credit, and equipment financing for small and medium businesses. In Ohio, personal loans are capped at 28% APR for licensed consumer lenders, overseen by the Ohio Division of Financial Institutions.
No lenders currently available in Ohio. Check back soon.
Ohio Lending Laws
Ohio HB 123 (2018) imposed a 28% interest cap plus strict fee limits on payday loans, reducing their effective cost from triple-digit APRs and forcing lenders to offer longer-term products.
The primary regulator for consumer lending in Ohio is the Ohio Division of Financial Institutions. Borrowers with complaints about a lender can file reports directly with that agency or with the federal Consumer Financial Protection Bureau (CFPB).