Personal loans in Waco, TX
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Waco, TX.
The median household in Waco earns $54,365 a year, 31% below the Texas median of $78,476. About 23% of residents live below the federal poverty line, and 50.6% of households rent their home.
Texas law that applies in Waco
| Rate cap | Under the true-daily-earnings method: 30% a year on the part of the cash advance up to the first bracket, 24% up to the second, and 18% up to the third. |
|---|---|
| License required | A Chapter 342 license is required to make, transact or negotiate loans that charge more than other law allows. |
| Loan sizes covered | The tiered rates apply to cash advances up to $23,000 (2026-27 bracket). |
Full rules with statute citations: Personal Loans in Texas. Cities in Texas cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Waco
Here's what to have on hand before you start your personal loan request in Waco:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Waco
What Waco borrowers use it for
the fastest options online
Rent duecover a short gap before payday
Car repairskeep getting to work while the shop fixes it
Medical billspay a doctor, dentist or pharmacy bill now
Loans for your situation
How to get a personal loan in Waco
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Waco
46 FDIC-insured bank branches from 20 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Community Bank & Trust, Waco, Texas | 4 | 1800 Washington Ave, Waco 76701 |
| American Bank, National Association | 4 | 1601 Interstate 35 N, Waco 76705 |
| First National Bank Texas | 4 | 4320 Franklin Ave, Waco 76710 |
| First National Bank of Central Texas | 3 | 1835 N Valley Mills Dr, Waco 76710 |
| Wells Fargo Bank, National Association | 3 | 300 Franklin Ave, Waco 76701 |
| JPMorgan Chase Bank, National Association | 3 | 320 N New Rd, Waco 76710 |
| Extraco Banks, National Association | 3 | 1700 N Valley Mills Dr, Waco 76710 |
| PNC Bank, National Association | 3 | 1227 N Valley Mills Dr, Waco 76710 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Waco
29 credit-union locations from 19 credit unions.
| Credit union | Location |
|---|---|
| Acadiana Medical | 5213 Lake Shore Dr, Waco 76710 |
| Mclennan County Employees | 215 N 5Th St Ste 224, Waco 76701 |
| Texell | 1221 Hewitt Dr, Waco 76712 |
| Genco | 731 N Valley Mills Dr, Waco 76710 |
| Educators | 100 Bolling Dr, Waco 76705 |
| First Central | 6201 Sanger Ave, Waco 76710 |
| Members Choice Of Central Texas | 4631 W Waco Dr, Waco 76710 |
| Kraftman | 5213 Lake Shore Dr, Waco 76710 |
| Heart O' Texas | 7500 Imperial Drive, Waco 76712 |
| Southern Teachers & Parents | 5213 Lake Shore Dr, Waco 76710 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: McLennan County · Payday Loans in Waco · Title Loans in Waco
Frequently asked questions
Can I get a personal loan with bad credit in Waco?
Possibly. Lenders in our network consider applicants with fair and bad credit across Texas, including Waco. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Waco, TX?
Tiered caps for licensed Chapter 342 lenders: up to 30% a year on the first $4,600, 24% on the part from $4,600 to $9,660, and 18% on the part up to $23,000 (amounts for loans made July 1, 2026 to June 30, 2027). Small loans up to $1,840 may instead use an acquisition charge plus a monthly handling charge, which produces much higher APRs.
How fast can I get a personal loan in Waco?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
How long does it take to get a personal loan in Waco?
With online lenders, the process is usually fast. Our form takes about 3 minutes, many lenders make a decision within minutes, and approved funds are often deposited by the next business day. Some lenders may ask for documents such as pay stubs, which can add a little time. Having your information ready before you start helps you get money sooner in Waco.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Waco with our free 3-minute form.
Can I get an emergency loan with bad credit in Waco?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Waco residents can see if they qualify in about 3 minutes.
How do installment loans work in Waco?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Waco residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Waco?
You can apply at local banks and lenders in Waco, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
Do I need to visit a store in Waco?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.