Midwest · Allowed
Payday loans in Missouri
Storefront payday lending is permitted in Missouri. State law caps what lenders can charge — the limits below are the legal ceiling, and honest lenders stay under it.
The limits below are the legal ceiling — any offer above them is being made outside the law.
The rules behind the numbers
Payday loans are high-cost loans designed for short-term financial emergencies and should not be used for long-term borrowing.
In practice: borrow $300 for a standard term and the finance charge is $45 — $345 repaid at the end, about 443% APR. Every compliant lender in Missouri has to fit inside that schedule.
Statute: Mo. Rev. Stat. § 408.500 et seq.
Regulator: Missouri Division of Finance · finance.mo.gov
Questions people ask here
How much can a payday loan cost in Missouri?
State law caps fees at 75% of initial principal limit for interest/fees combined. On a typical $300 loan that works out to about $45 in finance charges — repaying $345 in total. A lender charging more than the cap is operating illegally.
What happens if I can't repay on time in Missouri?
This state's rules on rolling the loan over: max 6. If you can't pay, ask the lender for an extended payment plan before you renew — and call the state regulator if the plan is refused.
Are online payday lenders legal in Missouri?
Only lenders licensed in Missouri may make loans to residents at these terms — the license, not the website, decides what's legal. Out-of-state lenders offering terms above the state cap are operating outside the law.
Who regulates payday lenders in Missouri?
Complaints about a licensed lender go to the Missouri Division of Finance (finance.mo.gov) — keep the loan agreement and every fee disclosure you were given.
237 storefront lender locations listed statewide in the 2022-02-20 public directory snapshot — each city guide carries its local list.