Colorado voters approved Proposition 111 in 2018, capping the total cost of payday and small-dollar loans at 36% APR effective 2019. The cap ended the state's prior high-cost deferred-deposit product. Some regulated small installment loans remain available at or below the cap, and lower-cost alternatives are widely recommended for short-term needs.
Key limits in Colorado
- Cost note: 36% APR cap
Figures can change — always confirm current limits with the official source below before borrowing.
Payday loans aren’t available in Colorado. Here are options you can use instead:
- Credit-union payday alternative loans (PALs)
- Nonprofit emergency assistance programs
- Employer paycheck advances
- Payment plans with creditors
Source: Consumer Federation of America (paydayloaninfo.org) · last verified 2026-07-24 · pending second-source verification
This page is general information, not legal or financial advice. State laws change; verify current rules with your state regulator or the source above.