Tulsa is Oklahoma’s second-largest city—behind Oklahoma City—with a population of about 400,000 and a metro area of nearly 1 million. Located along the Arkansas River, http://usapaydayloans.info/oklahoma/tulsa/ Tulsa expanded during the oil boom of the 1920s and 1930s, putting energy at the forefront of its economic and cultural legacy. “T-Town” is home to some of the nation’s most impressive Art Deco buildings, not to mention a lot of tasty barbecue.
Reflecting the trend of many cities its size, Tulsa’s poverty rate is higher than the poverty rate of Oklahoma: 20.3% in the city vs. 16.5% in the state. However, the city’s unemployment rate of 3.9% closely mirrors the state’s 4%. Tulsa County is a bit more prosperous than the rest of the state, with a median income of $50,654 (vs. $48,038 for the state).
Poverty Rate in Tulsa vs. Oklahoma
TulsaOklahoma
20.3%16.5%
Poverty Rate
Payday Loans in Tulsa
Payday loans are small, short-term loans for individuals. They’re offered in exchange for the borrower writing a check dated in the near future — often the borrower’s next payday.
Borrowers can pay back the full loan by the date on the check, or the lender will cash it on that date. Don’t have the money to cover the check when the loan is due? Prepare to pay exorbitant fees. Payday loans have high interest rates and fees — in Oklahoma, a payday loan of $300 has an APR of 396%.

In reality, these loans prey on low-income folks. Often, borrowers must take out a second payday loan to pay off the first, then a third, and so on. Predatory lenders aggressively try to convince people that high-interest loans are their best option in a financial crunch, but that cycle traps people in never-ending debt that’s tough to escape.

There are 75 payday loan storefronts in Tulsa County, with five companies accounting for about half of all stores. Advance America is the largest payday lender in the County, and one of the country’s largest. Oklahoma payday loan agreements are regulated by the Oklahoma Deferred Deposit Lending Act.