Installment Loans & Pawn Shops in Colorado

Lending rules in Colorado

Rules marked "medium confidence" were checked against a published copy of the statute because the official site was unavailable to us. Confirm them with the official text before relying on them.

General rules

• Unless a person is a supervised financial organization, the person needs a license from the UCCC Administrator (Attorney General) to make supervised loans. Source: Colo. Rev. Stat. 5-2-301(1) · verified Oct 9, 2026 · medium confidence
• A supervised lender with more than one place of business must obtain a master license, and each authorized branch location needs a separate license fee and proof of financial responsibility. Source: Colo. Rev. Stat. 5-2-302(4) · verified Oct 9, 2026 · medium confidence

Payday loans (deferred presentment)

• The finance charge on a payday (deferred deposit) loan cannot exceed an annual percentage rate of 36 percent, and a lender may charge only the charges the Deferred Deposit Loan Act expressly allows. Source: Colo. Rev. Stat. 5-3.1-105 · verified Oct 9, 2026 · medium confidence
• A payday lender may charge only the charges expressly authorized in the Deferred Deposit Loan Act, so origination and monthly maintenance fees are not allowed. Source: Colo. Rev. Stat. 5-3.1-105 · verified Oct 9, 2026 · medium confidence
• If a payday loan is prepaid before maturity, the lender must refund a prorated portion of the finance charge. Source: Colo. Rev. Stat. 5-3.1-105 · verified Oct 9, 2026 · medium confidence
• The voters declared their intent to lower the maximum authorized finance charge for payday loans to an annual percentage rate of 36 percent (Proposition 111, effective February 1, 2019). Source: Colo. Rev. Stat. 5-3.1-101.5 · verified Oct 9, 2026 · medium confidence
• A payday lender cannot lend more than $500, and the amount financed by any one lender to a consumer at any time cannot exceed $500. Source: Colo. Rev. Stat. 5-3.1-106(1) · verified Oct 9, 2026 · medium confidence
• A lender may make more than one payday loan to a consumer only if the total at any one time stays within $500 and there is at least a 30-day waiting period between loans. Source: Colo. Rev. Stat. 5-3.1-106(1) · verified Oct 9, 2026 · medium confidence
• A consumer can rescind a payday loan on or before 5 p.m. the next business day after the loan transaction. Source: Colo. Rev. Stat. 5-3.1-106(2) · verified Oct 9, 2026 · medium confidence
• A payday loan cannot be renewed more than once; after the renewal the consumer must pay the debt in cash or its equivalent. Source: Colo. Rev. Stat. 5-3.1-108(1) · verified Oct 9, 2026 · medium confidence
• On renewal of a payday loan, the lender may assess a finance charge that does not exceed an annual percentage rate of 36 percent. Source: Colo. Rev. Stat. 5-3.1-108(2) · verified Oct 9, 2026 · medium confidence
• If the consumer's check or debit authorization is returned unpaid, the lender may charge one returned instrument charge per loan of at most $25, plus court costs and reasonable attorney fees (capped at the loan amount). Source: Colo. Rev. Stat. 5-3.1-112 · verified Oct 9, 2026 · medium confidence
• No one may make payday loans without a supervised lender's license, and a separate license is required for each location where the business is conducted. Source: Colo. Rev. Stat. 5-3.1-116 · verified Oct 9, 2026 · medium confidence

Installment and consumer finance loans

• A consumer loan that is not a supervised loan can carry a finance charge of at most 12 percent a year on the unpaid balance. Source: Colo. Rev. Stat. 5-2-201(1) · verified Oct 9, 2026 · medium confidence
• A supervised revolving credit account can carry a finance charge of at most 21 percent a year on the unpaid balance. Source: Colo. Rev. Stat. 5-2-201(3)(a) · verified Oct 9, 2026 · medium confidence
• For a loan of $1,000 or less, a supervised lender may instead charge an acquisition charge of at most 8 percent of the amount financed (from January 1, 2024), plus a monthly handling charge of $8.50 to $17.50 depending on the amount. Source: Colo. Rev. Stat. 5-2-214(1) · verified Oct 9, 2026 · medium confidence
• A loan using the alternative charges for loans of $1,000 or less must run at least six months and at most twelve months (from January 1, 2024), with substantially equal installments. Source: Colo. Rev. Stat. 5-2-214(2) · verified Oct 9, 2026 · medium confidence
• A supervised installment loan of $1,000 or less must be scheduled over no more than 25 months (37 months if the principal is more than $1,000, up to $3,000). Source: Colo. Rev. Stat. 5-2-308(1) · verified Oct 9, 2026 · medium confidence
• On a supervised loan, the finance charge can be up to 36 percent a year on the part of the unpaid balance of $1,000 or less, 21 percent on the part from $1,000 to $3,000, and 15 percent on the part above $3,000 (or 21 percent on the whole balance, if greater). Source: Colo. Rev. Stat. 5-2-201(2) · verified Oct 9, 2026 · medium confidence

Pawn loans

• Pawnbrokers are licensed and regulated by local licensing authorities (cities, counties), not by the state; local rules must be at least as restrictive as the state pawnbroker article. Source: Colo. Rev. Stat. 29-11.9-102 · verified Oct 9, 2026 · medium confidence
• The fixed price to redeem pawned property cannot exceed the original purchase price plus one-fifth (20 percent) of that price for each month. Source: Colo. Rev. Stat. 29-11.9-101(2) · verified Oct 9, 2026 · medium confidence
• A pawnbroker must hold pawned goods for ten days after the maturity date of the contract. Source: Colo. Rev. Stat. 29-11.9-103(5) · verified Oct 9, 2026 · medium confidence

Lenders in Colorado are licensed by the Colorado Attorney General, UCCC Administrator. See also online lenders and apps in Colorado.