Payday Loans in Eldorado Springs, Colorado

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

Company nameAddressZip codePhone number
Fairway Independent Mortgage suite 10, 170 E 12th St, Durango, CO 81301 +1 (970) 287 - 1450
City Market Money Services 1320 Railroad Ave, Rifle, CO 81650 +1 (970) 625 - 3080
Academy Bank 1 S. Tejon Street El Paso, Bldg, Colorado Springs, CO 80903 +1 (719) 208 - 8910
Cash Resources 92 Poudre Canyon Rd, Bellvue, CO 80512 +1 (970) 407 - 1843
Chris Oxley Mortgage Loan Officer Elevations Credit Union NMLS: 1057338 777 21st Ave, Longmont, CO 80501 +1 (720) 552 - 1018
Community Banks of Colorado 1810 Grand Ave, Glenwood Springs, CO 81601 +1 (970) 945 - 7035
Bank of the West 141 N Park Square, Fruita, CO 81521 +1 (970) 858 - 3682
PB&T Bank Castle Rock 360 Perry St, Castle Rock, CO 80104 +1 (303) 688 - 3587
First National Bank of Ordway 300 North Main St, Ordway, CO 81063 +1 (719) 267 - 3531
TBK Bank 3650 35th Ave, Evans, CO 80620 +1 (970) 339 - 8430

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eldorado Springs, CO, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Arvada, CO, Payday Loan Without a Credit Check in Aurora, CO, Quick Loan in Boulder, CO, Payday Loans in Brighton, CO, Payday Loans in Broomfield, CO, Guaranteed Loans in Castle Rock, CO, Payday Loan Companies in Colorado Springs, CO and Payday Loans in Commerce City, 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 Eldorado Springs, CO.

Beautiful sights of Eldorado Springs, CO

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

80025

Are Payday Loans Legal In Eldorado Springs, 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

Eldorado Springs, CO payday loan calculator

Payday Loans in Eldorado Springs, Colorado

Are you facing a financial emergency and in need of a short-term loan? If so, you may have considered a payday loan. While payday loans can be a helpful resource during times of financial distress, it’s important to understand the details of the loan and the specific regulations in your state.

In Colorado, payday loans are legal, and there are several lenders in Eldorado Springs that offer this type of loan. In this article, we’ll explore what payday loans are, how they work in Colorado, and what you need to know before applying.

What are Payday Loans?

Payday loans are a type of short-term, high-interest loan that is designed to be paid off with the borrower’s next paycheck. These loans are typically for small amounts, ranging from $100 to $1,000, with repayment terms of two to four weeks.

Unlike traditional loans, payday loans don’t require collateral, and the application process is typically quick and easy. Borrowers only need to provide proof of income and a valid ID to qualify for a payday loan.

However, the convenience of payday loans comes with a high cost. Payday loans have incredibly high-interest rates, often with an annual percentage rate (APR) of 400% or higher. This means that if you borrow $500 for two weeks, you could end up owing $575 in fees and interest.

Additionally, payday loans have a reputation for trapping borrowers in a cycle of debt. Since payday loans are designed to be repaid with the borrower’s next paycheck, many borrowers find themselves unable to repay the loan in full and end up taking out another loan to cover the fees and interest.

Payday Loans in Colorado

In Colorado, payday loans are legal, but there are specific regulations in place to protect borrowers. Payday lenders in Colorado must be licensed and regulated by the state, and they can only lend up to $500.

The maximum loan term for a payday loan in Colorado is 6 months, and lenders are required to disclose all fees and interest rates upfront. Additionally, the state of Colorado has established a cap on interest rates for payday loans, with a maximum APR of 36%.

Colorado also has specific regulations in place to prevent borrowers from falling into a cycle of debt. Once a borrower has taken out five consecutive payday loans, they must wait at least six months before taking out another loan.

What You Need to Know Before Applying

Before applying for a payday loan in Eldorado Springs, Colorado, there are a few things to keep in mind.

First and foremost, it’s essential to understand the terms of the loan and the fees and interest rates involved. Payday loans are an expensive form of credit, and the high-interest rates can quickly add up if the loan isn’t repaid in full and on time.

It’s also important to consider your ability to repay the loan before taking it out. If you’re unable to repay the loan in full when it’s due, you may find yourself in a cycle of debt, taking out loan after loan to cover the fees and interest.

Finally, before applying for a payday loan, it’s worth exploring other options. Credit counseling services, personal loans from a bank or credit union, and even borrowing from friends and family may be more affordable and less risky alternatives to payday loans.

Interesting Facts and Statistics About Payday Loans in Eldorado Springs, Colorado

– According to a report from The Pew Charitable Trusts, 12 million Americans take out payday loans each year, and the average borrower takes out eight loans of $375 each per year.

– In Colorado, the average payday loan borrower takes out four loans per year and ends up paying $238 in interest and fees for each loan.

– Since payday loans were legalized in Colorado in 2000, the state has saved an estimated $360 million in fees and interest rates.

Apply Now

If you’ve considered your options and decided that a payday loan is the right choice for your financial situation, apply now through TheGuaranteedLoans. As a connection service, we’ll connect you with potential lenders who can provide the financial assistance you need.

Please keep in mind that TheGuaranteedLoans is not a direct lender, and the terms of your loan will be determined by your lender. However, we work with reputable lenders who are committed to providing fair and transparent loans to borrowers in Eldorado Springs and beyond.

Apply now for a payday loan in Eldorado Springs, Colorado and get the financial assistance you need.

Disclaimer: Not all lenders can provide loan amounts up to $1000. The maximum amount you can borrow is dependent on several factors including your lender’s qualifications, state laws, and your income and credit rating. It’s important to read the terms and conditions of your loan and fully understand them before accepting the loan.

F.A.Q.

Are there any protections for borrowers in Eldorado Springs, Colorado when it comes to payday loans?

Yes, Colorado law requires lenders to provide clear and concise information about the terms and conditions of the payday loan, as well as any fees and interest rates. Borrowers also have the right to cancel the loan within 24 hours without incurring any additional charges.

Can I renew or extend my payday loan in Eldorado Springs, Colorado?

No, payday loans in Eldorado Springs, Colorado cannot be renewed or extended. Borrowers must pay off the loan in full by the due date.