West · 36% APR cap
Payday loans in Montana
Montana 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
Under Montana law (Initiative 164), interest and fees on payday loans are capped at 36% APR.
Statute: Mont. Code Ann. § 32-5-101 et seq.
Regulator: Montana Division of Banking and Financial Institutions · banking.mt.gov
Questions people ask here
Why can't I find two-week payday stores in Montana?
Montana 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 Montana?
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 Montana 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 Montana?
Complaints about a licensed lender go to the Montana Division of Banking and Financial Institutions (banking.mt.gov) — keep the loan agreement and every fee disclosure you were given.