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<\/a>Chosen 80,176<\/strong> times<\/span>- Check Rates without Credit Impact<\/li>
- No Minimum Credit Score<\/li>
- Large Network of Lenders<\/li><\/ul><\/div>Min Loan Amount<\/span>500<\/span><\/div>Max Loan Amount<\/span>35000<\/span><\/div>Lowest APR<\/span>5.99<\/span><\/div>Highest APR<\/span>35.99<\/span><\/div>Min Loan Term<\/span>6 Months<\/span><\/div>Max Loan Term<\/span>5 Years<\/span><\/div>Accepts bad credit:<\/span>Yes. <\/span><\/div>Minimum Age<\/span>18<\/span><\/div><\/div>See offer<\/a>More Info<\/a>
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<\/div>4.2<\/span><\/a>Read 91<\/strong> reviews<\/a><\/div><\/div><\/div><\/div><\/div>\n\n\nWhen payday lending is not officially banned, laws restricting it are usually in the form of usury limits. <\/p>\n\n\n\n
In the state of Connecticut, the Small Loan Law and check casher law restrict payday lending. <\/p>\n\n\n\n
Payday loans<\/a> companies also face a major bar because of the usury limits.<\/p>\n\n\n\n
What is Connecticut\u2019s Small Loan Law?<\/h2>\n\n\n\n
A person or entity licensed by the Banking Department<\/strong> is allowed to make small consumer loans of up to $15,000<\/a>. <\/p>\n\n\n
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<\/a>Chosen 32,439<\/strong> times<\/span>- Loans from $250 – $35,000<\/li>
- Repayment terms from 6 – 72 months<\/li>
- Access to hundreds of lenders<\/li>
- APRs from 5.99%<\/li><\/ul><\/div>Min Loan Amount<\/span>250<\/span><\/div>Max Loan Amount<\/span>35000<\/span><\/div>Lowest APR<\/span>5.99<\/span><\/div>Highest APR<\/span>35.99<\/span><\/div>Min Loan Term<\/span>3 Months<\/span><\/div>Max Loan Term<\/span>6 Years<\/span><\/div>Accepts bad credit:<\/span>Yes. <\/span><\/div>Minimum Age<\/span>18<\/span><\/div><\/div>See offer<\/a>More Info<\/a>
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<\/div>4.9<\/span><\/a>Read 17<\/strong> reviews<\/a><\/div><\/div><\/div><\/div><\/div>\n\n\nThese must also be registered either as a bank, credit union, or pawnbrokers. The interest rate<\/a> a lender may charge depends on the type of loan.<\/p>\n\n\n\n
An open-end loan is charged an interest rate of 19.8%. The interest rate for closed-end loans varies depending on the loan term. <\/p>\n\n\n\n
However, these are often lower compared to Connecticut\u2019s payday loans<\/a>.<\/p>\n\n\n\n
The following changes are allowed by the state of Connecticut for closed-end loans:<\/p>\n\n\n\n
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