Colorado Loans 2024 – Online Payday Loans in Colorado

The Best Loans in Colorado 2023: Compare Loan Rates

Written by: Joe Chappius

Last updated: January 3, 2024

Financer.com helps you compare online loan rates in Colorado. Compare different loan options in Colorado and read more about the payday loan laws in the state.

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Compare Loans in Colorado for April 2024

Borrow $1,000 for a period of 6 Months.

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Amount: $1,000 | Period: 6 Months

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recommended

Chosen 5,757 times

4.9

Read 11 reviews

recommended

Chosen 5,757 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.9

Read 11 reviews

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High approval rate

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Customer Type

All

Borrow up to

$50,000

Estimated Payback

13/10/2024

Weekend Payout

Age

11 Reviews

4.9

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

Chosen 92,619 times

3.7

Read 36 reviews

Chosen 92,619 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

3.7

Read 36 reviews

Open right now

Most chosen

Get Started

Customer Type

All

Borrow up to

$10,000

Estimated Payback

13/10/2024

Weekend Payout

Age

36 Reviews

3.7

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

recommended

Chosen 33,148 times

4.9

Read 17 reviews

recommended

Chosen 33,148 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.9

Read 17 reviews

Open right now

Get Started

Customer Type

All

Borrow up to

$35,000

Estimated Payback

13/10/2024

Weekend Payout

Age

17 Reviews

4.9

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

Chosen 27,204 times

4.0

Read 25 reviews

Chosen 27,204 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

4.0

Read 25 reviews

Open right now

Lowest cost

Get Started

Customer Type

All

Borrow up to

$10,000

Estimated Payback

13/10/2024

Weekend Payout

Age

25 Reviews

4.0

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

recommended

Chosen 6,677 times

5.0

Read 4 reviews

recommended

Chosen 6,677 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

5.0

Read 4 reviews

Open right now

Get Started

Customer Type

All

Borrow up to

$35,000

Estimated Payback

13/10/2024

Weekend Payout

Age

4 Reviews

5.0

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

View Company Profile

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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How to Compare Loans in Colorado

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Best Rated Personal Loans

Find the best rated lenders for loans in Colorado

5.0

Based on 4 reviews

5.0

Based on 4 reviews

5.0

Based on 14 reviews

4.9

Based on 7 reviews

4.9

Based on 12 reviews

4.9

Based on 17 reviews

4.9

Based on 8 reviews

4.8

Based on 5 reviews

4.8

Based on 4 reviews

4.7

Based on 3 reviews

Online Loans in Colorado

We've seen a decline in the number of unsecured loans that banks provide in the past few years. While it may be challenging to get a personal loan from a bank, you could still get financing by taking a payday loan.

The way payday loans are governed varies from state to state, and the laws in Colorado are very clear.

Compare online loans in Colorado with our loan comparison tool above, or read more about online payday loan laws in Colorado below.

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The Advantages of Online Colorado Loans

Online Personal Loans Are Convenient

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Less Paperwork Required

Colorado Payday Loan Regulations

Legal Status	Legal
Interest Rate (APR)	36%
Max. Loan Amount	$500
Min. Loan Term	6 months
Max. Loan Term	Not specified
Number of Rollovers	1
Finance Charges	Max. 36% of the loan
Statute of Limitations	3 years from the last payment

Updated March 28 2022

A 2010 Colorado state law put strict regulations in place regarding payday lending and outlawed renewing a loan more than once.

The Colorado payday loan law prohibits a lender from extending a repayment term to more than six months.

However, Colorado cash advances and installment loans are still legal. These are often obtained from storefront lenders as well as online lenders.

Consumers wishing to apply for a personal loan in Colorado can find a reputable company online and read our reviews of different payday lenders here on financer.com.

Here are the rules for online payday loans in Colorado:

The maximum loan amount is $500
The maximum finance charge on a $300 loan is 20%
The maximum loan term is six months

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Get the Loan You Need

An online personal loan can help when you need cash for large purchases or unplanned expenses.

Holiday

Wedding

Home Renovations

Bills

Shopping

Education

Payday Loan Requirements

When you apply for Colorado payday loans online, approval can be granted in as little as one hour, with some companies offering instant approval on smaller loans.

When applying for a cash advance in Colorado, you'll need the following:

An active checking account. This is usually for the purpose of wiring money directly to your account once approved.
Proof of income. This includes current information about your employer, plus any disability benefits.
A working phone number. This can be either a home or mobile phone.
Be at least 18 years old and a U.S. citizen or a permanent resident.

The Debt Limits in Colorado

The State of Colorado put forth debt limits in order to control the amount of money a borrower can have a loan for at a particular time.

A single individual can borrow a total of $500 in any number of loans.

Loan renewals attract a 45% interest rate. A person can have multiple loans as long as their total debt does not exceed $500.

A monthly maintenance fee of $7.50 per $100 loan is allowed. However, this loan maintenance fee should not exceed $30 for the entire loan term.

The law for personal loans in Colorado prohibits a lender from splitting a loan into two parts. In case a borrower fails to repay the loan by the due date, the law states that there should be repayment plan availability.

The Debt Collection Restrictions

If not regulated, often lenders for loans in Colorado springs are tempted to resort to unlawful methods to collect their debts.

That’s why these additional collection restrictions have been put forth by the State of Colorado in an effort to restrict such actions:

Lenders can only collect a non-sufficient funds (NSF) fee of a maximum of $25 NSF.
Unpaid loan amounts can be recovered through legal proceedings and a court trial.
A collection agency is not prohibited from taking any legal action against a borrower.
For early loan repayments, the lender must refund to the consumer a portion of the annual percentage rate.

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Compare Colorado Loans at Financer.com

Financer.com helps you compare the best personal loans in Colorado and get the best loan rates from leading lenders.

We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.

Use our free loan comparison tool to find the right personal loan in Colorado and take the guesswork out of doing all the legwork yourself.

Colorado Loans FAQs

Are payday loans legal in Colorado?

Yes, payday loans are available in Colorado. However, there are certain laws that regulate payday loans so always choose a reputable lender when taking out a payday loan in Co.

How much can I borrow in Texas?

Personal loans vary by lender and it's best to compare loan offers from leading online lenders before you choose the best offer. Your application will include a credit assessment and your offer may be based on your loan history.