Madison, MS · South · Allowed
Payday loans in Madison
Madison is governed by Mississippi's statewide lending law — cities don't set their own loan rules. Storefront payday lending is permitted in Mississippi. State law caps what lenders can charge — the limits below are the legal ceiling, and honest lenders stay under it.
The limits below are the legal ceiling — any offer above them is being made outside the law.
Lending storefronts in Madison
26,031 residents · Madison County Median household income is $97,287 — above the Mississippi median of $40,636.
| Nearest storefronts | Town | Phone |
|---|---|---|
| 1st Franklin Financial | Ridgeland 3 mi | (601) 427-7560 |
| A-1 Payday Loans | Ridgeland 3 mi | (601) 853-8266 |
| Advance America | Canton 11 mi | (601) 855-9330 |
| Approved Cash | Canton 11 mi | (601) 859-9500 |
| A-1 Payday Loans | Jackson 12 mi | (601) 366-4881 |
Listing data: public business directory, collected 2022-02-20. Stores close and relocate — confirm with the regulator's license lookup on the Mississippi page before visiting. Spot an error? Report it.
The online route in Madison
A parallel market lends entirely online — application, decision and funding on a website, no storefront. Lenders licensed in Mississippi follow the state schedule anywhere in the state, but bank-partner and tribal loans are structured outside state rate limits, and regulators dispute that model.
From the online lenders directory — terms each lender publishes about itself, checked September 2026. Directory only: we are not affiliated and make no availability promises — verify with the lender and the Mississippi regulator.
The rules behind the numbers
A check cashing agreement is a short-term loan designed for temporary cash needs and should not be used as a long-term credit solution.
In practice: borrow $300 for a standard term and the finance charge is $60 — $360 repaid at the end, about 521% APR. Every compliant lender in Madison has to fit inside that schedule.
Statute: Miss. Code Ann. § 75-67-501 et seq. (Check Cashers Act)
Regulator: Mississippi Department of Banking and Consumer Finance · www.dbcf.ms.gov
Questions people ask in Madison
Are payday loans legal in Madison, MS?
Yes. Storefront payday lending is permitted across Mississippi, and Madison runs under the same state rules: maximum loan $500, fees capped at $20 per $100 advanced. A store charging above the cap is operating illegally.
How much would a $300 loan cost me in Madison?
The same as anywhere in Mississippi: state law sets the schedule. On a typical $300 loan the finance charge is about $60 — $360 repaid at the end of the standard term.
Which lenders have stores in Madison?
Our 2022-02-20 directory snapshot lists no storefront lenders in Madison — the closest listed locations are in Ridgeland, Canton, Jackson.
Who regulates lenders in Madison?
Complaints about a lender go to the Mississippi Department of Banking and Consumer Finance (www.dbcf.ms.gov) — keep the loan agreement and every fee disclosure you were given.