In North Carolina, lenders making consumer loans of $25,000 or less above the general legal rate must be licensed by the Commissioner of Banks, and payday lending is prohibited. Verify any lender in the licensed-lender list, confirm the APR in writing, and never pay a fee before funding.
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Three North Carolina facts worth knowing
- Lenders making certain small consumer loans must be licensed. Under the state's Consumer Finance Act, a lender making consumer loans of $25,000 or less above the general legal rate must hold a license from the Office of the Commissioner of Banks. Banks and credit unions are regulated separately.
- Payday lending is prohibited. North Carolina does not allow storefront payday lending, and the Department of Justice warns that online lenders offering payday-style loans may be unlicensed.
- You can check a license yourself. The Commissioner of Banks publishes a licensed-lender listing and accepts complaints about licensed lenders.
How to verify before you share information
- Search the company in the Commissioner of Banks' licensed lender list.
- Look for complaints with the CFPB, the Attorney General's consumer protection office and the Commissioner of Banks.
- Confirm the APR and finance charge in writing before you accept anything.
- Walk away from any lender that asks you to pay first.
Storm seasons shape North Carolina borrowing
Hurricane Florence flooded eastern North Carolina in 2018, and Hurricane Helene caused catastrophic flooding in the mountains in September 2024. If you need money for storm damage, work through your insurance claim and any state or federal assistance first, then borrow only the gap. See our guide to home repairs after storms.
Local guides by metro
Charlotte, Raleigh, Greensboro, Durham, Winston-Salem, Fayetteville, Wilmington and Asheville. See the full Carolinas directory.
North Carolina by the numbers
The table below uses Census Bureau 2020 to 2024 estimates and the Bureau of Labor Statistics' September 2026 county unemployment rates for the North Carolina counties where we publish local guides. Figures describe counties, not individuals.
| County | Unemployment (BLS, latest) | Median household income | Households $100,000+ | Median rent | Largest industry |
|---|---|---|---|---|---|
| Alamance County | 3.2% | $65,651 | 30% | $1,064 | education and health care (27%) |
| Cabarrus County | 3.0% | $89,005 | 44% | $1,414 | education and health care (20%) |
| Catawba County | 3.1% | $67,864 | 31% | $965 | manufacturing (26%) |
| Cleveland County | 3.7% | $58,534 | 27% | $914 | education and health care (22%) |
| Craven County | 3.3% | $65,873 | 30% | $1,110 | education and health care (23%) |
| Cumberland County | 4.0% | $61,291 | 26% | $1,222 | education and health care (26%) |
| Davidson County | 3.2% | $64,172 | 29% | $901 | education and health care (21%) |
| Forsyth County | 3.3% | $67,165 | 32% | $1,098 | education and health care (28%) |
| Gaston County | 3.2% | $67,478 | 32% | $1,153 | education and health care (20%) |
| Guilford County | 3.4% | $68,642 | 33% | $1,163 | education and health care (25%) |
| Iredell County | 2.9% | $81,419 | 39% | $1,252 | education and health care (19%) |
| Johnston County | 2.7% | $83,384 | 42% | $1,146 | education and health care (19%) |
| Mecklenburg County | 3.3% | $87,005 | 44% | $1,627 | education and health care (18%) |
| Moore County | 2.8% | $86,080 | 42% | $1,254 | education and health care (26%) |
| Orange County | 2.8% | $90,089 | 45% | $1,496 | education and health care (37%) |
| Randolph County | 3.1% | $61,022 | 26% | $887 | manufacturing (22%) |
| Rockingham County | 3.3% | $57,053 | 26% | $810 | manufacturing (21%) |
| Union County | 2.9% | $102,900 | 52% | $1,496 | education and health care (19%) |
| Wake County | 2.8% | $105,768 | 52% | $1,623 | professional, scientific and administrative services (22%) |
Rules that surprise people
- Small loans carry a rate cap. North Carolina's Consumer Finance Act sets the framework for licensed lenders making small consumer loans, and the Commissioner of Banks regulates them. See the statute.
- Payday lending is prohibited. If an online lender offers payday-style loans to North Carolina residents, the Department of Justice warns that it may be operating illegally.
- Complaints have a home. The Commissioner of Banks takes complaints about licensed lenders.
Where to turn for help
| Need | Resource |
|---|---|
| Local help with bills | Dial 211 |
| Free civil legal help | Legal Aid of North Carolina |
| Credit counseling | Nonprofit agencies through the NFCC |
| Lender license check | NC Commissioner of Banks |
| Scam reports | NC Department of Justice and ReportFraud.ftc.gov |
A note on storms
Western North Carolina faced severe flooding from Hurricane Helene in 2024, and eastern counties have faced repeated floods from Matthew and Florence. After a declared disaster, apply for aid and file insurance claims first; be careful with out-of-area contractors and verify licenses with the state licensing board.
Quick reference
Regulator: Commissioner of Banks. Complaints: Commissioner of Banks and Department of Justice. Payday lending: prohibited. Help with bills: dial 211.
Quick reference
Verify the license. Never pay first. Payday and title loans are prohibited. Call 211 for help. Report scams to the Department of Justice.
Frequently asked questions
Is payday lending legal in North Carolina?
No. North Carolina prohibits payday lending, and the Department of Justice cautions about unlicensed online lenders.
Where do I file a complaint about a lender in NC?
The Commissioner of Banks takes complaints about licensed consumer finance lenders. Scams can be reported to the Attorney General and at ReportFraud.ftc.gov.
How do I find a licensed lender?
Use the Commissioner of Banks licensed lender search, and ask the lender for its license number.
Are online lenders allowed to lend to North Carolinians?
Lenders making certain consumer loans must be licensed in North Carolina. Check the license before sharing details.
What is the best first step if I am in debt?
Talk to a nonprofit credit counselor and call your creditors about hardship plans before you borrow.
Where can I verify a North Carolina license?
Use the Commissioner of Banks' licensed lender search linked on this page.
What if a lender is out of state?
It still may need a North Carolina license if it lends to residents. Verify.
Are title loans legal in North Carolina?
No. North Carolina prohibits them.
Who do I call about a scam?
The NC Department of Justice and ReportFraud.ftc.gov.