Payday Loans in Conejos, Colorado

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No payday loan companies in Conejos, CO. Consider companies in other cities:

Company nameAddressZip codePhone number
Main Street Mortgage Company 503 N Main St 203, Pueblo, CO 81003 +1 (719) 696 - 9335
Elevations Credit Union 970 E Eisenhower Blvd, Loveland, CO 80537 +1 (303) 443 - 4672
Kevin Sprincz at Guaranteed Rate - NMLS 287449 105 Edwards Village Blvd C209, Edwards, CO 81632 +1 (303) 641 - 7728
AutoZone Auto Parts 1316 Main Ave 2, Durango, CO 81301 +1 (970) 385 - 0580
Colorado West Payday Loans Montrose, CO 81401 +1 (970) 249 - 3000
Check Into Cash 390-B South Wilcox Street, Castle Rock, CO 80104 +1 (720) 733 - 0757
Mike Maroone Chevrolet South 230 N Academy Blvd, Colorado Springs, CO 80909 +1 (719) 602 - 3613
Native American Bank 201 Broadway, Denver, CO 80203 +1 (303) 988 - 2727
Kent Shettler - Raymond James 200 Grand Ave, Grand Junction, CO 81501 +1 (970) 245 - 1600
Delta County Federal Credit Union 100 Circle Dr, Delta, CO 81416 +1 (970) 874 - 7674

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Conejos, CO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Broomfield, CO, Quick Loan in Castle Rock, CO, Short-term Loans in Colorado Springs, CO, Payday Loans in Commerce City, CO, Payday Loans in Denver, CO, Payday Loans in Englewood, CO, Payday Loan Without a Credit Check in Fort Collins, CO and Payday Loans in Grand Junction, CO. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Conejos, CO.

Beautiful sights of Conejos, CO

Payday Loans Available in Conejos, CO By The Following ZIP Codes:

81129

Are Payday Loans Legal In Conejos, Colorado?

Loan Rates and Fees, Laws and Regulations in Colorado.

Colorado Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)214
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term6 months (180 days)
Number of Rollovers Allowed1
Finance Charges<$300 = 20$ >$300 = 20$ + 7.5% of any excessive amount

Conejos, CO payday loan calculator

Payday Loans in Conejos, Colorado

Payday loans are a type of short-term loan with a high interest rate, typically due on the borrower’s next payday. In Colorado, payday loans are legal, but there are regulations in place to protect consumers from predatory lending practices.

How Payday Loans Work in Conejos, Colorado

Payday lenders in Conejos, Colorado typically require borrowers to have a steady source of income and a checking account. Borrowers write a postdated check for the loan principal plus interest and fees. The check is then held until the borrower’s next payday, when the loan must be repaid in full or the lender can cash the check.

The maximum loan amount for a payday loan in Colorado is $500, and lenders can charge up to 20% of the loan amount as an origination fee. The interest rate on a payday loan in Colorado is capped at 45% APR.

Pros and Cons of Payday Loans in Conejos, Colorado

Payday loans can provide quick access to cash when borrowers need it, but they come with high interest rates and fees. Borrowers should carefully consider whether a payday loan is the best option for their financial situation.

Pros:

  • Quick access to cash
  • No credit check required
  • Can help in emergency situations

Cons:

  • High interest rates and fees
  • Can lead to a cycle of debt
  • May not solve long-term financial issues

Legal Regulations for Payday Loans in Conejos, Colorado

In Colorado, payday lenders must be licensed by the Colorado Attorney General’s office and must follow certain legal regulations.

The Colorado Uniform Consumer Credit Code (UCCC) sets out the rules for payday lenders in the state. According to the UCCC, lenders must:

  • Provide a written contract that outlines the loan terms and conditions
  • Disclose all fees and charges associated with the loan
  • Provide borrowers with a three-day period to cancel the loan without penalty
  • Limit the loan amount to $500

Additionally, lenders are not allowed to roll over or renew a loan more than once, and they must offer borrowers a repayment plan with no additional fees or interest if the borrower is unable to pay back the loan on time.

Interesting Facts and Statistics about Payday Loans in Conejos, Colorado

  • Approximately 450 payday lenders operate in Colorado.
  • According to the Pew Charitable Trusts, the average payday loan borrower in Colorado takes out eight loans per year and spends $238 in interest and fees for each $400 loan.
  • A study by The Bell Policy Center found that payday lenders in Colorado charge an average APR of 129%, and that the average Colorado borrower spends 38% of their take-home pay on payday loan repayments.

Apply Now

If you’re considering a payday loan in Conejos, Colorado, TheGuaranteedLoans can help connect you with potential lenders. Keep in mind that we are a connector service and not a direct lender. Our process is fast, secure, and confidential.

Fill out our online application today to get started. Our network of lenders is ready to help you find the right loan for your needs.

F.A.Q.

What are the eligibility requirements for payday loans in Conejos, Colorado?

Applicants must be at least 18 years old and have a regular source of income.

Is there a limit on the amount I can borrow with a payday loan in Conejos, Colorado?

The maximum amount that can be borrowed is $500.