Please read this disclaimer carefully before using Snap Loans Cash. It explains what our service is, what it is not, and the Texas and City of El Paso rules that apply to payday loans for El Paso borrowers.
We are a connection service, not a lender
Snap Loans Cash does not lend money, make credit decisions, or charge you any fee. We are a loan-connection service that may match your request with third-party lenders and licensed credit access businesses operating in Texas. Any loan you receive comes from an independent lender, on that lender’s terms, which you should read in full before you accept.
How payday loans work in Texas
In Texas, payday and title loans are arranged through a Credit Access Business (CAB) — a broker licensed by the Texas Office of Consumer Credit Commissioner that obtains your loan from a third-party lender and charges its own fee (Tex. Finance Code Ch. 393 & 342). Texas does not cap that fee, so payday loans here are among the most expensive in the country.
What the City of El Paso limits
The City of El Paso’s Credit Access Business ordinance (El Paso Code Ch. 5-17) adds real protections that state law does not:
- A single-payment payday loan may not exceed 20% of your gross monthly income.
- An auto-title loan may not exceed the lesser of 3% of your gross annual income or 70% of your vehicle’s value.
- A loan may be repaid in no more than 4 installments, or rolled over no more than 3 times.
- Each installment or rollover must reduce the principal by at least 25%.
Cost example
Because Texas has no state fee cap, a $500 payday loan for about two weeks commonly costs around $110–$125 in combined interest and CAB fees — an effective APR of roughly 560%–660%. That figure is a typical market illustration, not a legal maximum; your actual cost is set by the CAB and lender. Payday loans are expensive, short-term credit and are not intended for long-term financial needs. Please consider lower-cost alternatives first.
Regulator and complaints
Texas credit access businesses are licensed and regulated by the Texas Office of Consumer Credit Commissioner (OCCC), 512-936-7600 / 800-538-1579, and must also register with the City of El Paso under Ch. 5-17. Rules on this page were verified on July 5, 2026 and may change; always confirm current terms with your lender and the regulator.