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LoanFAP is a direct lender serving Washington residents, including Seattle, Spokane, and Kennewick. 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.
Washington installment loans at a glance: Personal installment loans are legal in Washington and regulated by the Department of Financial Institutions under RCW 31.04.105. Rates are capped at 25% per annum. 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. Washington also allows payday loans, but prohibits title loans.
Rules current as of July 2026.
Governing law: RCW 31.04.105
The maximum annual percentage rate (APR) for personal installment loans in Washington is capped at 25% per annum, as per RCW 31.04.105. An origination fee of up to 4% on the first $20,000 and 2% thereafter is allowed. A license is required to offer these loans, according to RCW 31.04.035.
| Loan Amount | Term | APR (est.) | Total Interest | Total to Repay |
|---|---|---|---|---|
| $1,000 | 24 months | 25% | $274 | $1,274 |
| $5,000 | 24 months | 25% | $1,371 | $6,371 |
| $10,000 | 24 months | 25% | $2,742 | $12,742 |
Washington state law allows lending at a rate not exceeding 25% per annum as per RCW 31.04.105. The lender must provide a Truth-in-Lending disclosure showing the exact APR before signing.
Washington residents should be aware that personal installment loans have an APR cap of 25% per annum. Additional fees may apply, such as origination fees, which are capped by statute.
Consumers are protected by a prohibition on prepayment penalties, allowing borrowers to repay loans early without additional charges. Late fees are capped at 10% of any installment payment delinquent for ten days or more. License verification can be conducted through the Department of Financial Institutions' website.
Complaint Agency: Washington State Department of Financial Institutions — 1-800-562-6000 (File a complaint)
Verify Lender License: https://dfi.wa.gov/consumers/find-company
Understanding your repayment flexibility is important when choosing a personal installment loan in Washington.
Vehicle title loans are not available in Washington.
Vehicle title loans are not separately authorized in Washington. There is no title-loan enabling statute; the general usury limit is 12% per annum (RCW 19.52.020) and licensed consumer lenders are capped at 25% APR under the Consumer Loan Act. Because a high-cost title product cannot operate within these caps, title loans are effectively prohibited in Washington.
Washington State Department of Financial Institutions (DFI) — consumer line 360-753-6200 (file a complaint)
Check whether a lender is licensed in Washington
Washington law does permit other forms of consumer credit, including personal installment loans (governed by RCW 31.04.105) and payday loans (governed by Wash. Rev. Code Ann 31.45.010 et seq). 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 Washington.
Governing law: RCW 31.04.105(1) (Consumer Loan Act); RCW 19.52.020 (general usury)
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 Washington and regulated under RCW 31.04.105. 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.
In Washington, the maximum rate on a personal installment loan is 25% per annum under RCW 31.04.105. That is a ceiling, not a quote: your actual APR depends on the loan amount, the term and the lender, and it must be disclosed in writing before you sign.
Yes, and without a penalty. Washington law does not allow a lender to charge a prepayment penalty on a personal installment loan under RCW 31.04.105. Paying ahead of schedule cuts the interest you owe, because interest accrues on the balance you still carry.
Washington caps loan fees separately from interest under RCW 31.04.105. Origination fee: 4% of the first $20,000 and 2% thereafter. Late fee: 10% of any installment payment delinquent ten days or more. 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.
Washington requires consumer installment lenders to hold a state license under RCW 31.04.105, and publishes a licensee lookup at https://dfi.wa.gov/consumers/find-company. Check the lender there before you share bank or Social Security details. An unlicensed lender operating in the state is not bound by these rate and fee limits.
No. Title loans are prohibited in Washington, and no licensed lender may offer one to a resident of Washington. See the "Car Title Loans Are Not Legal in Washington" section on this page for what the law says and where to report a lender. Governing law: RCW 31.04.105(1) (Consumer Loan Act); RCW 19.52.020 (general usury).
Yes. Alongside installment lending, Washington permits payday loans under Wash. Rev. Code Ann 31.45.010 et seq. A payday loan there is capped at $700 and a term of up to 45 days. 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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