Payday Loans & Cash Advances in Colorado
CO · up to $500 — max fee 36%- Max loan: $500
- Max fee: 36% of the loan's face value
- Term: 6 months min
- Statute: C.R.S. § 5-3.1-101 et seq.
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What a payday loan costs in Colorado
A cash advance, a payday advance, a payroll advance — whatever the storefront sign says, it's the same product with the same legal ceiling in Colorado.
The Colorado fee of $108 per $300 borrowed ranks 17th of 29 fixed-fee states — in the middle of the pack for short-term credit.
| Loan amount | Max fee | Total repaid | Term |
|---|---|---|---|
| $200 | $72 | $272 | 6 months min |
| $300 | $108 | $408 | 6 months min |
| $500 | $180 | $680 | 6 months min |
The same fee over 14 vs 30 days — why APR looks scary
Colorado caps the dollar fee, not the APR — so the same fee annualizes differently depending on how long you hold the loan. This is the honest math for a $500 loan:
| Term | Fee | Total repaid | APR |
|---|---|---|---|
| 14 days | $180 | $680 | ≈939% |
| 30 days | $180 | $680 | ≈438% |
The rulebook in Colorado
| Legal cap | $500 |
| Fee ceiling | 36% APR Cap |
| Term | 6 months min |
| Rollovers | Forbidden |
| Cooling-off / rescind | End of next business day |
| Typical APR | Max 36% |
| Statute | C.R.S. § 5-3.1-101 et seq. |
| Regulator | Colorado Department of Law - Consumer Credit Unit |
Deferred deposit loans in Colorado are subject to a maximum 36% annual percentage rate limit.
Payday vs PAL vs installment in Colorado
The payday loan is the fastest tool, rarely the cheapest. Before signing, compare it with the two structured alternatives:
| Payday loan | Credit-union PAL | Online installment | |
|---|---|---|---|
| Typical amount | $100–$500 | $200–$2,000 | $1,000–$5,000 |
| Cost | 36% flat fee (~400% APR) | APR capped at 28% federally | APR ≈36%–200% |
| Term | 6 months min | 1–6 months | 6–24 months |
| Credit check | No hard pull — income-based | Soft pull, credit unions only | Soft-check prequalification common |
| Best for | A one-paycheck gap | Bigger gap, credit-union members | Multi-month shortfalls |
Repaying — and what happens if you can't
- Repayment is a single automatic debit from the account the money went into, due 6 months min after signing.
- Rollover rules: Forbidden. A "renewal" that adds a fresh fee to the same balance is the classic payday debt spiral — state law is the line between a rollover and a legal new loan.
- Cancellation: Colorado gives you a rescind window of end of next business day — return the principal within it and you owe no fee.
- Deferred deposit loans in Colorado are subject to a maximum 36% annual percentage rate limit.
- If a debit bounces, the bank charges its own NSF fee and the lender may charge the contract late fee — then may sell the debt to a collector. Complaints go to the state regulator, and an unlicensed lender may have no enforceable claim at all.
Four things to try before borrowing
- A payment plan from the bill issuer. Utilities, hospitals, and many landlords must offer hardship payment plans on request — it costs nothing and beats any loan.
- Credit-union PAL. Federal credit unions offer Payday Alternative Loans (PALs): $200–$2,000 at APRs capped at 28% with terms of 1–6 months — several times cheaper than any payday fee, if you can join a credit union.
- Earned-wage access. Employer-connected advance apps let you draw already-worked hours for little or no fee. Slower than a payday loan, far cheaper.
- Local assistance. Community action agencies and charity programs cover one-time bills (rent, utilities, medication) in most metro areas.
50 Colorado cities covered
Local guides with cost tables and requirements for the biggest Colorado cities — the law is statewide, but fees hit differently in every local budget.
- Denver 693k
- Colorado Springs 465k
- Aurora 362k
- Fort Collins 164k
- Lakewood 154k
- Thornton 137k
- Arvada 117k
- Westminster 114k
- Pueblo 110k
- Centennial 110k
- Boulder 108k
- Greeley 104k
- Highlands Ranch 101k
- Longmont 93k
- Loveland 77k
- Broomfield 67k
- Grand Junction 62k
- Castle Rock 58k
- Commerce City 55k
- Parker 51k
- Littleton 46k
- Northglenn 39k
- Brighton 38k
- Englewood 34k
- Dakota Ridge 34k
- Security-Widefield 34k
- Ken Caryl 33k
- Wheat Ridge 31k
- Pueblo West 31k
- Fountain 29k
- Lafayette 28k
- Columbine 25k
- Erie 23k
- Windsor 23k
- Evans 22k
- Louisville 21k
- Golden 21k
- Clifton 20k
- Montrose 19k
- Sherrelwood 19k
- Durango 19k
- Cimarron Hills 17k
- CaГ±on City 17k
- Welby 16k
- Greenwood Village 16k
- Johnstown 15k
- Fort Carson 15k
- Sterling 14k
- Lone Tree 13k
- Superior 13k
What are the requirements for obtaining a Payday Loan in Colorado?
To get a payday loan in Colorado, you need to meet some criteria. If you do not qualify for any of them, you will not be able to get a payday loan. Review the main ones and make sure you have everything needed to get a loan:
- 18 is the minimum age
- US citizens and permanent residents
- a resident of Colorado
- contact number and email address
- permanent source of income
- an active bank account
Need more than $500?
An installment loan in Colorado spreads $1,000–$5,000 over fixed monthly payments. For lenders operating outside the CO-licensed system, see our honest guide to tribal loans in Colorado. For the full picture of short-term rules, see payday loans by state.
Colorado payday loan FAQ
How much can I borrow with a payday loan in Colorado?
The legal maximum is $500 per loan under C.R.S. § 5-3.1-101 et seq.. Lenders may not write around it, online or in a storefront.
Is a cash advance different from a payday loan in Colorado?
No — cash advance, payday advance, and payroll advance are different names for the same short-term product. Colorado's cap, fee ceiling, and term rules apply identically, whatever the lender calls it.
What does a $300 payday loan cost in Colorado?
$108 in fees — 36% of the loan's face value — repaid 6 months min later. Total repayment: $408.
I need money immediately — how fast can I get a payday loan in Colorado?
Apply online in the morning: decisions arrive in minutes, and applications approved before the lender's daily cutoff are funded the same business day. After the cutoff or on weekends, funding lands the next business morning.
Do Colorado payday lenders check credit?
No hard credit check in the traditional sense: approval runs on verifiable income and an active checking account, so weak or thin credit files still get funded. Some lenders record a soft inquiry, which leaves your score untouched.
What happens if I can't repay a payday loan in Colorado?
State rule: forbidden. A missed debit adds the bank NSF fee and the contract late fee, and the debt may go to a collector. Ask the lender for an extended payment plan before the due date — and escalate to the Colorado Department of Law - Consumer Credit Unit if the lender refuses to work with you.
How many payday loans can I have at once in Colorado?
State law says: Forbidden. Your credit history with other lenders is checked through the state database.
Where do I complain about a Colorado lender?
To the Colorado Department of Law - Consumer Credit Unit (https://coag.gov) — it licenses and polices every payday lender serving Colorado residents.
Ready to check offers in Colorado?
One short form, several licensed lenders, and the legal cost of your state shown before you commit to anything.
Check My Eligibility →Online Payday Loan Alternatives in Colorado
If a two-week payday isn't the right fit, these Colorado options cover the other common situations — bigger amounts, longer terms, and no-credit-check routes:
Payday Loan Calculator
The legal ceiling computed from state statute — the most a licensed lender may charge. It is the law, not a quote.
Get Payday Loans in Colorado with All City Payday Loan
Every figure on this page is the legal ceiling computed from state law — the most a licensed lender may charge you. All City Payday Loan matches you with licensed lenders and shows the cost before you commit.
Start with All City Payday Loans →Disclosure. All City Payday Loan is not a lender, not a broker, and does not make credit decisions. Rates and terms are set by third-party lenders and depend on state law and the lender's underwriting; short-term loans carry APRs that may range from 35.99% to 359.99%. A payday loan is a short-term tool for a temporary cash gap — it is not a solution for long-term debt problems. Late or missed payments may result in additional fees and collection activity. Check your lender's license with your state regulator before you sign.