Cash Advance and Payday Loans in Denver, CO.

It may seem like the Mile High State has a long list of payday and cash advance regulations. However, we’ve broken them down to make finding financing easier. So, if you’re strapped for cash, submit a request to see if you connect with a lender in Denver, CO.

Advantages of Taking Out Payday Loans in Denver

Payday loans and cash advances can be appealing to consumers looking for quick and easy funding for emergencies. The following are some of the reasons residents in Denver choose payday loans as a viable financing alternative:

• Speed. When urgent bills pile up, most people don’t have time to go through lengthy applications to receive funds. Payday lenders try to simplify and speed up the application process so that consumers can address their financial emergencies quickly. If approved, borrowers may receive their cash in as little as one business day.
• Convenience. Many consumers who are on a time crunch don’t have the ability to request funding from a brick-and-mortar lender in Denver. Instead, they may turn to financers who have hassle-free and accessible applications online. The form can be completed anytime and from anywhere.
• Flexibility. If you’re looking for financing options for bad credit score applicants, some payday lenders may be willing to work with you. Alternative lenders may consider income alongside credit scores when determining eligibility.

How to Get a Cash Advance and Payday Loan in Denver

Payday lenders in Denver strive to make the application process hassle-free and quick. However, they will still require some personal and financial information to determine your eligibility. To start your funding request, begin by completing an application. The lender will review the information to determine whether you qualify. If approved, the funds may be directly deposited in as little as one business day.

Cash Advance and Payday Loan Requirements

Usually, most lenders in Denver, CO, will have the same requirements. Prospective applicants will need to:

• Be 18 years old
• Have proof of U.S. citizenship or permanent residency
• Have proof of income

Also, the application form will require personal and financial information, including:

• Name
• Address
• Contact information
• Social Security number
• Employment history
• Banking information

Costs and Regulations of Cash Advances and Payday Loans in Denver, CO

Denver residents can request up to $500 for a minimum of six months. The state does not specify a minimum payday loan amount or a maximum term. APR is capped at 36% in Denver, CO. However, there are several additional charges that accompany a payday loan.

Borrowers are charged an origination fee, which amounts to 20% for the first $300. They are also charged another 7.5% fee for amounts exceeding $300. Additionally, lenders may charge a maintenance fee of $30 per month. Lastly, delinquent borrowers may be charged a non-sufficient funds fee of $25.

Colorado does not limit the number of loans a consumer can obtain. However, the total of all outstanding loans cannot exceed $500, and there is a 30-day cooling-off period between loans.

Installment Loans in Denver

Consumers in Denver might feel a little limited by the $500 limit on payday loans and cash advances. Therefore, installment loans might be another option due to their larger sums and longer terms. Applicants can request between $1,000 and $5,000 for a 12-month term.

Requesting Title Loans in Denver

Title loans are not legal in Denver, CO. The state has issued a ban on the loan product because of the overwhelming number of defaults. Due to the high APR, many borrowers are unable to make payments. As a result, lenders may repossess consumers’ vehicles and sell them to recoup their losses. Annually, around 11% of borrowers have their car repossessed.

Our Favorite Denver, CO, Cash Advance and Payday Loan Companies

Rather than searching for a reputable lender in Denver, Co, consider submitting a request with one of the following lenders. We try our best to connect you with a reputable lender who may be willing to offer you financing.

Speedy Cash

Speedy Cash offers both online and in-store loan options. Their financial products include payday loans, installment loans, title loans, business loans, and lines of credit. Your qualified amounts can range between $200 and $25,000. Standard APR fluctuates between 100% and 500%. However, keep in mind that the approved amount and APR are subject to change based on credit scores, income, and city ordinances.

Additionally, Speedy Cash also provides financial services, such as check cashing, money orders, and money transfers. Speedy Cash has two locations in Denver, CO.

Check Into Cash

Many lenders are limited in product and service offerings. Therefore, Check Into Cash can be a great alternative if you are looking for a wider range of options. Check Into Cash offers title loans, lines of credit, check cashing, and money orders. Additionally, if you prefer to complete your application in-store, Check Into Cash has four locations in Denver, CO.