Payday Loans Torrance, CA – Compare Licensed Lenders (2026)

$$300

Max Loan Amount

Active Lenders

15 min

Approval Time

$145K

Population

Torrance, California, located in the vibrant state of California, boasts a population of 145,438 and is home to diverse industries that contribute to its thriving economy. With an average income of $52,000 and a cost of living that is 10% below the national average, residents enjoy a relatively affordable lifestyle. However, unexpected expenses can arise, and for such occasions, payday loans provide a quick financial solution. In Torrance, where economic diversity is a hallmark, understanding the nuances of payday loans can be crucial for managing short-term financial needs effectively.

About Torrance

Main Industries

$diverse industries

Avg Income

$$52,000

Cost of Living

$$-10% vs national avg

California Payday Loan Regulations

Max Loan Amount:$300

Max Term:31 days

Typical APR:460% (15% max fee)

Finance Charge:$45 maximum (15% of principal)

Regulatory Body:Department of Financial Protection and Innovation (DFPI)

Payday loans in California are capped at $300 with a maximum 15% fee ($45). Lenders must be licensed by DFPI.

Important: This information is current as of January 2026. State regulations may change. Always verify with your lender and state regulator before signing a loan agreement.

Where to Find Payday Loans in Torrance

In Torrance, the payday lending landscape is unique. Despite the lack of active lenders with physical storefronts in the city, residents can still explore payday loan options primarily through online platforms. This digital approach offers convenience and accessibility, allowing Torrance residents to apply for loans without leaving their homes. Although there are currently no active lenders directly serving California, online lenders can provide an alternative path to securing necessary funds.

Compare Lenders in Torrance

Lender	Loan Range	Typical APR	Best For	Apply

Representative Loan Example in Torrance

Calculation

Loan Amount: $$500

Term: $14 days

APR: $460%

Fee: $$75

Total Repayment: $$575

Effective APR: $391.1%

⚠️ Important Notes

✓ For Torrance residents earning $$52,000, this payment is 1.23%
✓ Recommended: Keep monthly debt payments below 35% of income
✓ APR varies by lender and creditworthiness
✓ Always compare multiple offers before accepting

Advantages & Disadvantages in Torrance

✅ Advantages

✓ Process 100% online
✓ Decision in 15 min
✓ Available for Torrance residents
✓ No collateral required
✓ Early repayment allowed

❌ Disadvantages

✗ Higher APR than traditional banks
✗ Limited local lender options
✗ Credit check required

💡 Expert Recommendation for Torrance Residents

According to loan expert Rostislav Sikora, residents of Torrance, with its relatively low cost of living, might find short-term payday loans suitable for immediate financial needs. These loans can provide quick relief without straining budgets. However, it's crucial to compare APRs and ensure that repayment does not exceed 35% of your monthly income before signing any agreement.

Rostislav Sikora – Loan Comparison Specialist at Credizen

Frequently Asked Questions – Torrance, CA

How do I get a payday loan in Torrance, CA?

In Torrance, payday loans can be accessed primarily through online lenders, as there are no local storefronts available. Residents can apply directly on lender websites.

What's the max I can borrow in Torrance?

In Torrance, the maximum payday loan amount you can borrow is $300, as per California state regulations.

Can I get approved with bad credit in Torrance?

Yes, you can still get approved for a payday loan in Torrance even with bad credit, although terms may vary.

Are there storefronts in Torrance or is it online only?

Currently, there are no storefront payday lenders in Torrance, making online applications the primary option for residents.

How fast can I get money in Torrance?

Residents of Torrance can typically receive payday loan funds within one business day after approval, depending on the lender.

What is the cost of living like in Torrance, CA?

Torrance's cost of living is 10% below the national average, making financial planning more manageable for residents.

Is it legal to get a payday loan in Torrance?

Yes, payday loans are legal in Torrance, CA, with regulations setting a maximum $300 loan amount and a 15% fee cap.

What are the common industries in Torrance?

Torrance hosts diverse industries, contributing to its economic stability, including technology, manufacturing, and retail.

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Responsible Lending Notice: Payday loans are short-term financial products and should only be used for temporary cash needs. They are not a long-term solution for financial difficulties. Borrowers should consider other options before taking out a payday loan.

Regulatory Information: All lenders displayed serve Torrance, CA and are regulated by state authorities. For complaints or concerns, contact the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.

Affiliate Disclosure: Credizen.net may earn a commission when you apply through our platform. This helps us keep our service free. We only work with licensed, reputable lenders.

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