Payday Loans in Colorado: Get the Money You Need Instantly!
Payday loans in Colorado help you borrow smaller amounts for emergency expenses. You might need the money for medical bills, car repairs, or home improvements. Whatever the use, taking a cash advance will help you cover the extra costs.
Unlike traditional loans, approvals are quick and the documentation requirements are minimal. This has made them a go-to option when you need funds instantly.
Typically, Colorado payday loans let you take out $500 giving you a minimum of 6 months to pay back. The repayment must be done in a lump sum on the due date.
However, financing your loan through us means you will be connected to only licensed lenders who offer the lowest interest rates. Our website follows an installment repayment structure for short-term loans, which means you’ll be able to repay in manageable monthly installments throughout a flexible period.
Why Choose Our Payday Loans in CO?
There are a few reasons why you’ll love our online payday loans for Colorado:
-
- We Connect You to Local Lenders in Colorado
- Flexible Loan Amounts up to $5,000
- No Credit Score Checks!
- Longer Repayment Periods of up to 72 Months!
- Clear and Transparent Lending TermsOne Hour Approvals!
-
- Repayment in Monthly Installments!
- Minimal Documentation Requirements
Colorado Payday Loan Regulations
Each state has its restrictions around cash advances and in Colorado payday loan laws are even more strict. To protect borrowers from potential debt cycles, the government has limited interest rates to 36 percent.
Our loans adhere to these rules and charge APRs as low as 5.99 percent, capped at 35.99 percent. According to the Truth in Lending Act, we disclose all costs involved in borrowing the loan clearly to the borrowers.
Here’s a summary of the above-mentioned and other usury laws in Colorado that protect you:
|
Maximum Loan Amount |
$500 |
|
Minimum Repayment Term |
6 months |
|
Maximum Interest Rate (APR) |
36% including fees |
|
Rollovers Allowed |
1 |
|
Finance Charges |
20% for first $300 Plus, 7.5% for additional amount |
|
Collection Fees |
NSF (Non-Sufficient Funds) Fee of $25 |
|
Criminal Action |
The lender cannot take criminal action against you if you fail to repay. |
Alternatives to Payday Loans in Colorado
If you need a loan larger than $5,000 and qualify for a personal loan, it is a great alternative. You may also request your employer to pay your salary in advance.
If you have access to any assets like property, jewelry, car, etc. taking a secure loan is also an option. However, if you fail to repay before the due date, the lender is authorized to take ownership of your collateral.
You may also borrow from friends or family, agreeing on the repayment terms preferably on paper. If you need the cash urgently, selling electronics or items you don’t need anymore is also an option. You can choose to pawn it for some money if you’re not willing to completely sell the items.
How to Apply For Our Payday Loans in Colorado?
The application process for obtaining our payday loans online in Colorado is straightforward. You will have to fill out an application, providing us with details like your email address, loan amount, and loan purpose.
Once you submit the details, your request is sent for review. Since there are no credit score checks, we grant the approval based on other factors (income stability, debt-to-income ratio, etc). In most cases, applicants are approved within an hour.
Our team will then contact you and explain the loan terms. You may ask any doubts or questions you have at that time. If you wish to proceed, you’ll receive an agreement entailing your loan’s terms. You must read everything carefully before signing to ensure that the terms fit into your budget.
After signing the documents, lenders will disburse the funds directly into your bank account. You may later repay these installment loans in monthly payments.
Apply with us to experience what the best payday loans in Colorado have to offer!
