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Payday loans in Colorado

Payday loans for bad credit in Colorado

Payday loans are allowed in Colorado from state-licensed lenders (Deferred Deposit Lender license). Here are the limits Colorado law sets, what a typical loan can cost, and where to get free help if you need it.

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Last updated .

Part of the Colorado guide

What Colorado law allows

Payday loans in Colorado
ProductStatusAPR capAmountTermLicenseLaw
Payday loans[1][2][3] AllowedHigh-cost loan 36% APR Not set by statute At least 6 months Deferred Deposit Lender license Colo. Rev. Stat. Section 5-3.1-101 et seq., as amended by Proposition 111 and HB23-1229
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Payday loans

Rate cap
Colorado Proposition 111 (2018), codified in the Deferred Deposit Loan Act (Colo. Rev. Stat. Section 5-3.1-101 et seq.), caps total finance charges on payday/deferred deposit loans at a 36% APR, eliminating other fees; loans must have a minimum repayment term of six months.
Fees
All finance charges other than the 36% APR-equivalent charge are eliminated by Proposition 111; an origination charge structure applies within that 36% cap per statute.
License
Deferred Deposit Lender license (Supervised Lender License under UCCC) issued by the Colorado Attorney General's Consumer Credit Unit.

Full detail for every loan type: Colorado lending laws.

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Rent and jobs in Colorado

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Colorado
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,895FY2026
Unemployment rate[5]4.0%2026-08

Other options in Colorado

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in Colorado.

Other loan types allowed in Colorado

See every loan type Colorado law allows.

Payday loans in nearby states

  • WyomingAllowedHigh-cost loan Cap set in statute
  • New MexicoNot allowed Not allowed
  • UtahAllowedNo rate limit in state law No rate limit
  • NebraskaAllowedHigh-cost loan 36% APR
  • KansasAllowedHigh-cost loan Fee cap

Sources

  1. ballotpedia.org. Colo. Rev. Stat. Section 5-3.1-101 et seq., as amended by Proposition 111 and HB23-1229. Retrieved September 23, 2026.
  2. leg.colorado.gov/bills/hb23-1229. Retrieved September 23, 2026.
  3. coag.gov. Colorado Attorney General, Consumer Credit Unit (Uniform Consumer Credit Code Administrator). Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Colorado. Retrieved September 23, 2026.
  5. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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Important disclosures

APRs vary by lender and state in Colorado. Each lender sets its own rates and terms and must show you the APR before you sign.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
36%
Repayment
12 monthly payments
Payment
$100.46
Finance charge
$205.52
Total of payments
$1,205.52

Example: a $1,000 payday loan at 36% APR repaid in 12 monthly payments of $100.46 costs $1,205.52 in total, including a finance charge of $205.52. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

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  • Questions about a lender licensed in Colorado? Contact the Colorado Attorney General, Consumer Credit Unit or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.