Payday Loans in Penrose, Colorado

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

Company nameAddressZip codePhone number
U.S. Bank ATM - Evergreen 2922 Evergreen Pkwy, Evergreen, CO 80439 +1 (800) 872 - 2657
Bay Equity Home Loans 1319 Grand Ave, Glenwood Springs, CO 81601 +1 (970) 330 - 5010
Midland States Bank 111 S Tejon St, Colorado Springs, CO 80903 +1 (719) 386 - 2500
Julie Whalen, Loan Officer 300 Plaza Dr 100, Littleton, CO 80129 +1 (303) 881 - 9332
Vectra Bank Colorado 218 E Valley Rd, Carbondale, CO 81623 +1 (970) 963 - 3600
Loan Stop 8100 W Crestline Ave Unit A8, Littleton, CO 80123 +1 (303) 979 - 0178
Colorado Lending Source 2520 Grand Ave 207, Glenwood Springs, CO 81601 +1 (970) 947 - 1404
PARKER PAWNSHOP 11881 N Hwy 83 2, Parker, CO 80134 +1 (303) 931 - 5177
U.S. Bank Branch 105 S Grand Mesa Dr, Cedaredge, CO 81413 +1 (970) 856 - 3133
Gershman Mortgage - Grand Junction, CO 2518 Monument Rd 10, Grand Junction, CO 81507 +1 (970) 712 - 5355

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Penrose, CO, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Greeley, CO, No Credit Check Loans in Littleton, CO, 24-Hour Loan in Longmont, CO, Payday Loans in Loveland, CO, Payday Loans in Parker, CO, Payday Loans 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 Penrose, CO.

Beautiful sights of Penrose, CO

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

81240

Are Payday Loans Legal In Penrose, 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

Penrose, CO payday loan calculator

Understanding Payday Loans in Penrose, Colorado

If you’re in a tight financial spot and need quick cash, you may have heard about payday loans. Payday loans are a type of short-term loan that is typically used to cover unexpected expenses or bills before your next paycheck arrives.

In Penrose, Colorado, payday loans are legal and regulated by the state to protect consumers from unfair lending practices. However, it’s important to understand the terms and conditions of a payday loan before deciding if it’s the right choice for you.

How Do Payday Loans Work?

Payday loans are designed to offer short-term financial relief in exchange for repayment on your next payday. They are typically accessed through a storefront or online lender, and the loan amount is usually based on your income and credit history.

When you apply for a payday loan, you’ll provide the lender with your personal information, proof of income, and bank account details. If you’re approved, you’ll receive the loan amount, minus any fees or interest.

The loan must be repaid within a certain period of time, usually within two weeks to a month. If you can’t repay the loan on time, it can result in additional fees and a higher interest rate.

The Pros and Cons of Payday Loans

Payday loans can be useful in certain situations, but they also come with risks and potential drawbacks. Before taking out a payday loan in Penrose, Colorado, consider these factors:

  • Pros: Payday loans are easy to access and can provide cash quickly. They can also be an option for individuals with poor credit.
  • Cons: Payday loans often have high interest rates and fees, which can lead to a cycle of debt. They may also have strict repayment terms and can result in legal action if the loan isn’t repaid.

What to Look for in a Payday Loan Lender

When selecting a payday loan lender in Penrose, Colorado, it’s essential to choose a reputable and trustworthy company. Look for lenders who are licensed and registered with the state, and who offer transparent terms and conditions for their loans.

You should also compare the interest rates and fees for several lenders to find the most affordable option. Keep in mind that lower fees and interest rates may not always be the best choice if the lender has strict repayment terms or poor customer service.

Interesting Facts and Statistics About Payday Loans in Penrose, Colorado

  • In 2019, the Center for Responsible Lending reported that the average interest rate for payday loans in Colorado was 129.5 percent.
  • As of 2021, there are over 200 licensed payday lenders in Colorado.
  • According to the Colorado Attorney General’s Office, payday loans are the most complained-about financial product in the state.

Apply Now for a Payday Loan in Penrose, Colorado

If you’re in need of quick cash, TheGuaranteedLoans can connect you with potential payday loan lenders in Penrose, Colorado. Fill out our online application and we’ll match you with lenders who may be able to offer you a loan.

Remember, TheGuaranteedLoans is a connector service, not a direct lender. We can help simplify the loan application process and provide guidance on the right loan for your needs.

Don’t let unexpected expenses or bills overwhelm you. Apply now for a payday loan in Penrose, Colorado.

F.A.Q.

Are there any protections for borrowers in Penrose, 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 Penrose, Colorado?

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