Payday Loans Nebraska: Limits, Rules and Your Options

What is a delayed deposit service?

In Nebraska, a payday loan is legally called a delayed deposit service. Lenders often call it a cash advance in Nebraska. You borrow a set amount for a short time and agree to repay it by a set date. To secure the loan, you write a personal check to the lender for the amount you borrow plus its fee, and the lender holds that check until the agreed date.

The loan is short by design. If you need more time, the cost can add up quickly, so it helps to plan your repayment date before you sign.

Nebraska licensing and state oversight

Payday lenders in Nebraska must hold a license to offer delayed deposit services. The Nebraska Department of Banking and Finance (NDBF) licenses and supervises these lenders. Access America holds a Delayed Deposit license from the NDBF and operates one store in Omaha.

You can check a lender before you borrow. Call the NDBF at (402) 471-2171 or visit ndbf.nebraska.gov. The agency also takes complaints about licensed lenders. Its office is at 1526 K Street, Suite 300, Lincoln, NE 68508.

The 36% APR cap, $500 limit, and 34-day term

Nebraska voters approved Initiative 428 in November 2020. Since then, the annual percentage rate (APR) on payday transactions has been capped at 36%. Any transaction above that cap is void and cannot be collected. Every licensed lender must also follow these rules:

• APR cap: 36% annual percentage rate on these transactions.
• Total limit: $500 from one lender, including fees and charges.
• Maximum term: 34 days.
• Two-check rule: a lender may not hold more than two checks from the same customer at one time.
• Same-day rule: a lender may not make a new transaction with the same customer on the same business day as the prior one.

What to bring when you apply

Being prepared saves time at the counter. Access America asks for the following items. You can fill out the printable application on our forms page before you come in.

1. A completed application
2. A bank account with a statement from within the past 30 days
3. A check from your valid checking account
4. Two forms of identification, including a driver's license or state ID card
5. Your most recent paycheck stub, or a benefit statement if you collect government benefits
6. A utility bill that lists your current address

A benefit statement can take the place of a paycheck stub. You still need a checking account and a check from it.

In store or online with Access America

You can visit our Omaha store or start online. In the store, you can get a cash advance of up to $425.00 until your next payday. The store is at 4601 South 50th Street, Suite 101, Omaha, NE 68117, near 50th and L Street in South Omaha. Council Bluffs residents and people in Bellevue, Ralston, La Vista, and Papillion are about a short drive away.

Online, you can start a request through our online request form. Requests are reviewed, but submitting one does not guarantee approval, an amount, or how fast you receive funds. Approval is not guaranteed. We look at your income and your bank account, not just a score.

Access America does not advertise its own personal or installment loans. If you need a larger amount, the personal loans page explains the options. Any offers come with their own terms, so read them carefully.

The Customer Rewards Program

Access America runs a Customer Rewards Program for customers who repay their cash advances. You earn 10 points for every $100 you repay. Points can be redeemed for prizes on display in the office, such as kitchen supplies and household items.

The program also has a referral bonus. When a friend you refer completes their first cash advance, you earn 100 points. Learn more on our rewards page.