West · 36% APR cap
Payday loans in Colorado
Colorado does not license classic two-week payday pricing: a 36% APR cap keeps typical payday fees out of the market. The storefronts that remain sell installment products under that cap.
Classic payday pricing is not licensed here, so treat any two-week, high-fee offer as a red flag.
The rules behind the numbers
Deferred deposit loans in Colorado are subject to a maximum 36% annual percentage rate limit.
In practice: borrow $300 for a standard term and the finance charge is $8.88 — $308.88 repaid at the end, about Max 36% APR. Every compliant lender in Colorado has to fit inside that schedule.
Statute: C.R.S. § 5-3.1-101 et seq.
Regulator: Colorado Department of Law - Consumer Credit Unit · coag.gov
Questions people ask here
Why can't I find two-week payday stores in Colorado?
Colorado caps small-loan APR at 36%. At that rate a two-week $300 loan earns a lender about $4 — which is why classic payday pricing can't legally exist here. Storefronts that remain offer installment loans under the cap.
What can I legally borrow instead in Colorado?
Installment loans priced under the 36% cap, federal credit-union PAY loans, and employer advance programs are the lawful routes. Anything advertising "no credit check" two-week fees is not licensed here.
A lender offered me a payday loan online anyway. Is that legal?
Not for a Colorado resident. The 36% cap applies regardless of where the lender is based — that offer is illegal in this state, and worth reporting.
Who enforces the cap in Colorado?
Complaints about a licensed lender go to the Colorado Department of Law - Consumer Credit Unit (coag.gov) — keep the loan agreement and every fee disclosure you were given.
71 storefront lender locations listed statewide in the 2022-02-20 public directory snapshot — each city guide carries its local list.