Payday Loans in Gateway, Colorado

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

Company nameAddressZip codePhone number
ACE Cash Express 121 Justice Center Rd, Cañon City, CO 81212 +1 (719) 276 - 0920
Trinidad Cash Advance 805 West St, Trinidad, CO 81082 +1 (719) 846 - 9283
Advance America 1029 N Academy Blvd, Colorado Springs, CO 80909 +1 (719) 573 - 2696
Independent Financial 538 CO-36, Byers, CO 80103 +1 (303) 622 - 2538
Vectra Bank Residential Lndng 801 Grand Ave, Glenwood Springs, CO 81601 +1 (970) 384 - 2322
Ent Credit Union - Hunter Doyle 2018 Prairie Center Pkwy, Brighton, CO 80601 +1 (719) 574 - 1100
Pacific Western Bank 1601 Wewatta St Suite 850, Denver, CO 80202 +1 (720) 381 - 5062
San Luis Valley Federal Bank 330 Solar Ave, Monte Vista, CO 81144 +1 (719) 589 - 6653
Demicell Wealth Managers Inc 200 W 1st St 310, Pueblo, CO 81003 +1 (719) 544 - 4300
KeyBank 541 Big Thompson Ave, Estes Park, CO 80517 +1 (970) 586 - 2364

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gateway, CO, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Greeley, CO, Payday Loans in Littleton, CO, Payday Loans in Longmont, CO, Same Day Loans in Loveland, CO, Payday Loans in Parker, CO, Payday Loan Companies in Pueblo, CO, Payday Loans in Westminster, CO and Payday Loans in Wheat Ridge, 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 Gateway, CO.

Beautiful sights of Gateway, CO

Are Payday Loans Legal In Gateway, 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

Gateway, CO payday loan calculator

Payday Loans in Gateway, Colorado

Payday loans are popular all across the United States, and Colorado is no exception. These types of loans provide an easy way to access cash when you need it most, but they should be used with caution. It’s important to understand the terms and regulations around payday loans in Gateway, Colorado before you apply for one.

The Basics of Payday Loans in Gateway, Colorado

A payday loan is a type of short-term loan that is usually due on your next payday. It’s a way to get quick cash when you need it most, without having to go through a lengthy loan approval process that you might experience with a traditional loan. In Colorado, payday loans are legal and regulated by the Colorado Attorney General’s office, which enforces strict regulations related to interest rates and fees.

To apply for a payday loan in Gateway, Colorado, you must be at least 18 years old and have a steady source of income. You’ll also need to provide proof of residency, such as a utility bill or lease agreement. Most payday loan lenders do not perform credit checks, which makes these loans available to people with bad credit.

Regulations in Gateway, Colorado

Payday loans in Gateway, Colorado fall under the Colorado Deferred Deposit Loan Act. This law requires that payday lenders be licensed by the state and follow specific rules related to interest rates, fees, and loan terms. The maximum loan amount that you can borrow in Colorado is $500, and lenders are not allowed to charge more than 20% in interest fees for the first $300 borrowed. For amounts borrowed over $300, lenders can charge an additional 7.5% interest.

Additionally, lenders are required to give borrowers a repayment plan that allows them to pay off the loan in installments. This repayment plan must be free of charge and must be offered to all borrowers in Colorado. The repayment plan must be for a duration of at least six months, and borrowers must be given at least four installments to pay off the loan.

Interest Rates and Fees

As mentioned, the maximum interest rate that payday lenders in Colorado can charge is 20% for the first $300 borrowed. If you borrow more than $300, lenders can charge an additional 7.5% interest. Additionally, lenders are allowed to charge a one-time origination fee of up to $5 for each loan. Late fees are also allowed, but they cannot exceed $25. Lenders are not allowed to charge borrowers for any additional fees or services beyond interest, origination fees, and late fees.

Interesting Facts and Statistics

  • Colorado has some of the strictest regulations related to payday loans in the country. In addition to strict interest rate limits, Colorado law requires that lenders give borrowers a repayment plan that allows them to pay off the loan in installments.
  • In 2019, Colorado payday lenders charged an average interest rate of 129% on their loans.
  • The average payday loan in Colorado was $392 in 2019.
  • In 2019, the total amount of payday loans given out in Colorado was $213,932,951.
  • In Colorado, there are more payday lending storefronts than there are McDonald’s locations.

Apply Now

If you’re considering a payday loan in Gateway, Colorado, TheGuaranteedLoans can help you find a lender that meets your needs. We are a connector service, not a direct lender, which means that we work with a network of reputable lenders to help you find the right loan for your needs. To get started, fill out our online application, and we’ll connect you with potential lenders who could provide you with the cash you need today.

F.A.Q.

Can I apply for a payday loan online in Gateway, Colorado?

Yes, many payday lenders in Gateway, Colorado offer the option to apply for a loan online. However, borrowers must still meet the same requirements and follow the same regulations as with in-person loans.

Are there any laws regulating payday lenders in Gateway, Colorado?

Yes, payday lenders in Gateway, Colorado must be licensed by the state and are subject to certain regulations, such as limits on fees and interest rates. These laws are in place to protect borrowers from predatory lending practices.