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State guide

Montana bad credit loans, loan laws and local help

Loan options, state rules and local help for Montana residents with bad credit: which loan types Montana law allows, what a typical loan can cost, and who to call when money is tight. Checked against state sources on September 23, 2026.

Last updated .

BadCreditMD is not a lender or broker. We explain your options; a lending network partner shares requests with lenders, who set their own rates and decide whether to lend. See disclosures.

Montana at a glance

Loan options in Montana

Every loan type we cover is listed, including the ones Montana law does not allow, so you can see why and what else can work.

Other ways to borrow

What a loan can cost in Montana

Worked examples at an illustrative rate, never above Montana's rate cap for that loan amount where the law sets one. They are examples, not quotes.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$292.45
Finance charge
$509.40
Total of payments
$3,509.40

Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Resources in Montana

Free and low-cost places to turn in Montana, each linked to its official source and dated when we last checked it.

  • Lending regulator and complaints

    Montana Division of Banking and Financial Institutions (DBFI) licenses lenders in Montana. Check a lender's license here, and file a complaint if something goes wrong.

    Check a lender's license File a complaint

    doa.mt.gov Checked September 23, 2026

  • 211

    Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.

    Find your local 211

    montana211.org Checked September 23, 2026

  • Legal aid

    Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.

    Find legal aid

    mtlsa.org Checked September 23, 2026

  • Nonprofit credit counseling

    Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.

    Find a nonprofit counselor

    nfcc.org Checked September 23, 2026

  • Benefits portal

    The official site for checking whether you qualify for food, cash or other benefits in Montana, and for signing up.

    Check benefits

    dphhs.mt.gov Checked September 23, 2026

  • Federal complaints

    Submit a complaint about any lender to the Consumer Financial Protection Bureau.

    Submit a complaint to the CFPB

    consumerfinance.gov Checked September 23, 2026 Available in Spanish

More Montana resources appear here as we check each source.

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). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
  • Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
  • Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
  • Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Montana.

The rules lenders follow in Montana

These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.

Allowed in Montana: installment and personal loans and payday loans. Not allowed: title loans.

Lending law in Montana
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3][4][5] Allowed 36% APR Not set by statute Not set by statute Consumer Loan license under the Montana Consumer Loan Act, Mont. Code Ann. 32-5-101 et... Mont. Code Ann. 32-5-101 et seq.; rate cap at 32-5-301; enacted via Initiative I-164
Title loans[6][5][7][8] Not allowed Not allowed Not set by statute Not set by statute None Former Title Loan Act was at Mont. Code Ann. Title 31, ch. 1, part 8; I-164 capped title loans at 36% APR before the Act's later repeal...
Payday loans[9][10][1][7][11][5] Allowed 36% APR Not set by statute Not set by statute Deferred Deposit Lender license would be required to operate, but per DBFI's own... Mont. Code Ann. Title 31, ch. 1, part 7; fee cap at 31-1-722; enacted rate cap via Initiative I-164
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.

Rate, fee and license rules in Montana

Installment and personal loans

Rate cap
Consumer loans made by licensed consumer loan businesses are capped at 36% per year, all-in (the cap includes every fee), per Mont. Code Ann. 32-5-301, enacted by voter-approved Ballot Initiative I-164 (2010), effective January 1, 2011.
Fees
36% APR cap includes all fees; no separate fee stacking above that ceiling is permitted.
License
Consumer Loan license under the Montana Consumer Loan Act, Mont. Code Ann. 32-5-101 et seq., issued by the Division of Banking and Financial Institutions (part of the Montana Department of Administration).

Title loans

License
None; the Montana Title Loan Act has been repealed and the Department of Administration confirms no current licensing category exists for title-secured consumer loans.

Payday loans

Rate cap
Deferred deposit (payday) lenders are capped at 36% APR, all-in, under the same I-164 framework codified in Montana's Deferred Deposit Loan statute (Mont. Code Ann. Title 31, ch. 1, part 7, also cross-referenced at 32-5-301). This rate is low enough that traditional fee-based payday lending is not economically viable, and a state regulator source notes there are currently no licensed payday lenders operating in Montana.
Fees
36% APR cap includes all fees, same as the general consumer loan cap.
License
Deferred Deposit Lender license would be required to operate, but per DBFI's own guidance no licensees currently exist in this category because the 36% cap makes the traditional payday product unprofitable.

Money snapshot for Montana

Montana household and credit data
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[12]$1,558FY2026
Population[13]1,137,2332024
Unemployment rate[14]3.2%2026-08

Guides for Montana borrowers

Check your options in Montana

Check your optionsYour request goes to a lending network partner, who shares it with lenders. Lenders set their own rates and decide whether to lend. There is no fee to use our service.

Montana questions

Does Montana law allow payday loans?

Montana law allows payday loans. The cost limit is 36% APR. Source: Mont. Code Ann. Title 31, ch. 1, part 7; fee cap at 31-1-722; enacted rate cap via Initiative I-164.

What is the most a lender can charge in Montana?

By loan type in Montana: Installment and personal loans: 36% APR. Title loans: Not allowed. Payday loans: 36% APR.

Where can I file a complaint about a lender in Montana?

You can file a complaint with Montana Division of Banking and Financial Institutions (DBFI), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Montana on this page.

How do I check a lender's license in Montana?

Montana Division of Banking and Financial Institutions (DBFI) licenses lenders in Montana. Use the license link under Resources in Montana on this page to check a lender before you share your information.

Is there free help paying bills in Montana?

Yes. Resources in Montana on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.

Can I get a loan in Montana with a 500 credit score?

Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.

Nearby states

Sources

  1. banking.mt.gov/MortgageConsumerFinance/FAQs. Retrieved September 23, 2026.
  2. Justia. law.justia.com/codes/montana/title-32/chapter-5/part-1/section-32-5-101. Retrieved September 23, 2026.
  3. ballotpedia.org/Montana_Loan_Interest_Rate_Limit,_I-164_(2010). Retrieved September 23, 2026.
  4. leg.mt.gov. Mont. Code Ann. 32-5-101 et seq.. Retrieved September 23, 2026.
  5. doa.mt.gov. Montana Division of Banking and Financial Institutions (DBFI). Retrieved September 23, 2026.
  6. Justia. law.justia.com/codes/montana/2005/31/31-1-816.html. Retrieved September 23, 2026.
  7. banking.mt.gov/_docs/DDL/DDL-I-164-Memo.pdf. Retrieved September 23, 2026.
  8. leg.mt.gov. Former Title Loan Act was at Mont. Code Ann. Title 31, ch. 1, part 8. Retrieved September 23, 2026.
  9. responsiblelending.org/media/montana-voters-reject-payday-loan-abuses. Retrieved September 23, 2026.
  10. lmtribune.com/northwest/many-montana-payday-lenders-shutting-down-9d3ca41f. Retrieved September 23, 2026.
  11. leg.mt.gov. Mont. Code Ann. Title 31, ch. 1, part 7. Retrieved September 23, 2026.
  12. National Low Income Housing Coalition. Out of Reach 2026: Montana. Retrieved September 23, 2026.
  13. U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
  14. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Important disclosures

Illustrative range for installment loans in Montana: APRs from 5.99% to 35.99%, where the state APR cap is 36%. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.

  • BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
  • There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
  • Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
  • Our service is not available in all states, and not every loan type is available in every state.
  • By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
  • Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
  • Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
  • BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
  • BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
  • Questions about a lender licensed in Montana? Contact the Montana Division of Banking and Financial Institutions (DBFI) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.