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LoanFAP is a direct lender serving Colorado residents, including Denver, Colorado Springs, and Aurora. Apply online in minutes for a personal installment loan, get a decision the same business day, and repay on a fixed schedule you know before you sign.
Colorado installment loans at a glance: Personal installment loans are legal in Colorado and regulated by the Colorado Consumer Credit Code under CO Rev Stat § 5-2-201. You can borrow an amount set by your lender and repay over a term of up to 1 year, with rates capped at 36% on loans ≤$1,000; 21% on $1,001-$3,000; 15% above $3,000. There is no prepayment penalty, so paying the loan off early reduces what you owe, and lenders must disclose the full APR and payment schedule before you sign. Colorado also allows payday loans, but prohibits title loans.
Rules current as of July 2026.
Colorado caps APR in tiers by loan amount — the full schedule is in the table below.
Governing law: CO Rev Stat § 5-2-201
Personal installment loans in Colorado have tiered APR caps based on loan amount: 36% for loans up to $1,000, 21% for $1,001 to $3,000, and 15% for amounts over $3,000 (CO Rev Stat § 5-2-201(2)(a)). Loans must have a term between 180 and 365 days, and lenders must be licensed under the Colorado Consumer Credit Code.
Unlike flat-rate states, Colorado law sets different maximum APRs depending on how much you borrow. Smaller loans may carry higher rates; larger loans are typically capped at a lower APR. The table below reflects the statutory maximums — lenders may charge less.
| Loan Amount Range | Max APR | Statutory Basis |
|---|---|---|
| Up to $1,000 | 36% max APR | CO Rev Stat § 5-2-201(2)(a)(I) |
| $1,001 – $3,000 | 21% max APR | CO Rev Stat § 5-2-201(2)(a)(II) |
| Varies | 15% max APR | CO Rev Stat § 5-2-201(2)(a)(III) |
APR tiers set by Colorado law. Your exact rate depends on loan amount and lender.
| Loan Amount | Term | APR (est.) | Total Interest | Total to Repay |
|---|---|---|---|---|
| $1,000 | 12 months | 36% | $208 | $1,208 |
| $3,000 | 12 months | 21% | $357 | $3,357 |
| $10,000 | 12 months | 15% | $808 | $10,808 |
Colorado law sets tiered APR caps: 36% on loans up to $1,000; 21% on $1,001-$3,000; 15% above $3,000, as per CO Rev Stat § 5-2-201. The lender must provide a Truth-in-Lending disclosure showing the exact APR before signing.
Colorado residents should be aware that personal installment loan rates vary by loan amount, with APRs ranging from 15% to 36% depending on the principal (CO Rev Stat § 5-2-201).
Colorado law prohibits prepayment penalties on personal installment loans (CO Rev Stat § 5-2-201). Lenders cannot refinance a loan more than once per year (CO Rev Stat § 5-2-214). Consumers should verify lender licensing under the Colorado Consumer Credit Code.
Understanding your repayment flexibility is important when choosing a personal installment loan in Colorado.
Car title loans are not available in Colorado; no state statute authorizes them and only the general UCCC rate caps apply.
Auto title loans are not separately authorized in Colorado. There is no vehicle-title enabling statute; consumer lending is governed only by the Colorado Uniform Consumer Credit Code (Colo. Rev. Stat. § 5-2-201), which caps finance charges at twelve percent per year on ordinary consumer loans and thirty-six percent per year for licensed supervised loans. With no provision permitting title lending above these ceilings, the product is effectively prohibited.
Colorado law does permit other forms of consumer credit, including personal installment loans (governed by CO Rev Stat § 5-2-201) and payday loans (governed by Colo. Rev. Stat. § 5-3.1-101 — 5-3.1-123). Those are separate products with their own licensing and rate rules, and nothing on this page is an offer of a car title loan in Colorado.
Governing law: Colo. Rev. Stat. § 5-2-201
In addition to state law, six federal laws protect consumer loan borrowers in every state. These apply regardless of where you borrow or which type of loan you take.
| Federal Law | What It Means for You | Who It Covers |
|---|---|---|
| Truth in Lending Act / Regulation Z | Regulation Z protects consumers by requiring clear disclosure of key credit terms and costs. | Applies to consumer credit including mortgages, credit cards, and installment loans. |
| Military Lending Act | The MLA caps the annual percentage rate at 36% for loans to active duty service members and their dependents. | Covers active duty service members and their dependents. |
| Fair Debt Collection Practices Act / Regulation F | Regulation F governs the practices of debt collectors, prohibiting abusive, deceptive, and unfair practices. | Applies to third-party debt collectors collecting consumer debts. |
| Fair Credit Reporting Act / Regulation V | Regulation V ensures accuracy and privacy of consumer credit information held by credit reporting agencies. | Applies to consumer reporting agencies and users of consumer reports. |
| Equal Credit Opportunity Act / Regulation B | Regulation B prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, or age. | Applies to all creditors in any aspect of a credit transaction. |
| CFPB UDAAP authority | The CFPB can take action against unfair, deceptive, or abusive acts or practices in consumer financial products or services. | Applies to all consumer financial products and services. |
These federal protections apply in all 50 states regardless of state law. They set a baseline floor of consumer rights.
Federal regulations, such as those from the CFPB and the Military Lending Act, apply in addition to state laws, providing an additional layer of consumer protection.
Yes. Personal installment loans are legal in Colorado and regulated under CO Rev Stat § 5-2-201. Lenders must hold a state license to make these loans. A licensed lender has to follow the state's limits on rates, loan size and fees, and disclose your APR, finance charge and full payment schedule before you sign.
Colorado sets its installment loan rate ceiling by loan size rather than with one flat cap: 36% on loans ≤$1,000; 21% on $1,001-$3,000; 15% above $3,000 under CO Rev Stat § 5-2-201. Which tier applies depends on how much you borrow, and a lender may charge less than the maximum. The exact APR has to appear in your loan agreement before you sign.
Colorado allows personal installment loan terms of up to 1 year (365 days) under CO Rev Stat § 5-2-201. The minimum term is 6 months (180 days). You repay in fixed scheduled installments rather than one lump sum, so a longer term lowers the monthly payment but increases the total interest you pay.
Yes, and without a penalty. Colorado law does not allow a lender to charge a prepayment penalty on a personal installment loan under CO Rev Stat § 5-2-201. Paying ahead of schedule cuts the interest you owe, because interest accrues on the balance you still carry.
Colorado caps loan fees separately from interest under CO Rev Stat § 5-2-201. Origination fee: 8% of the amount financed. Anything a lender charges beyond these has to be itemised in your agreement, so compare the total finance charge and not just the advertised rate.
Colorado sets specific rules for refinancing a personal installment loan under CO Rev Stat § 5-2-201: Refinancing is allowed once per year. It also restricts repeat refinancing, or loan flipping: A lender may not refinance a loan more than once in one year. Refinancing restarts the interest on a new balance, so confirm the new total cost before agreeing to one.
No. Title loans are prohibited in Colorado, and no licensed lender may offer one to a resident of Colorado. See the "Car Title Loans Are Not Legal in Colorado" section on this page for what the law says and where to report a lender. Governing law: Colo. Rev. Stat. § 5-2-201.
Yes. Alongside installment lending, Colorado permits payday loans under Colo. Rev. Stat. § 5-3.1-101 — 5-3.1-123. A payday loan there is capped at $500. Rollovers are not permitted. A payday loan is a single lump-sum repayment tied to your next pay date, which makes it a different and usually far more expensive product than an installment loan repaid over months.
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