Search for Online Personal Loans in Colorado
Residents of Colorado can borrow between $100 to $10,000 depending on state limitation and payment capacity. The repayment terms can be customized to fit your budget. The personal loan amount, payment terms and length, may vary according to your lender and the jurisdiction. They may be based on your qualifications and credit history. Nation 21 Loans does not perform any credit checks.
Top Payday Loans in Colorado
In Colorado, payday lenders are permitted to offer personal loans to qualified borrowers. The total, maximum loan amount per single individual is $500. The minimum payable period is 6 months, but there is no maximum period. It is prohibited to split the loan into two. The number of loans is unlimited if your total is less than $500. A 45% interest rate is charged on renewals. If your payday loan is repaid before the term ends, the lender must refund a prorated portion of the loan’s APR. This is based on the period remaining before your loan term expires
How it Works
Nation 21 Loans in itself is not a lender. We are concerned with matching you with licensed and active short-term lenders. Your credit score is irrelevant because, you can qualify for a personal loan even with zero or bad credit.
Our bad credit loans are specifically tailored for individuals unable to obtain loans due to their credit score. We are the fastest place you can access $2,000 bad credit loans lenders. Connecting to a lender is free and we do not restrict how you spend the money advanced to you.
Our application process is fast and simple. The response is swift and when approved, the funds are available by the next business day. Upon application, you are required to submit your contact information, a valid government ID, an active checking account and income details.
Lending Regulations in CO
The consumer credit terms and conditions in the state of Colorado are regulated by Colorado Uniform Consumer Credit Code (UCCC) state law. This law sets maximum charges and rates. It requires cost of credit disclosure for consumers to obtain the best rates. Signature loans and payday loans are bound by the UCCC.
- Colorado laws prohibit finance charges above 20% for the first $300, and 7.5% for amounts over $300
- A lender can charge a $7.50 monthly maintenance fee per $100 loaned, with a $30 maximum per month. This is charged 30 days after your loan initiation, every month the loan remains unpaid.
- A maximum NSF fee of $25 can be collected by lenders. If your loan remains unpaid, a court trial can recover the loan including attorney fees.
- A lender is not allowed to take legal action against you unless your checking account is closed before completing repayment.
Colorado’s (CO) Average Credit Score
FICO’s score rates Colorado’s credit at 689 for 2017, higher than the average U.S score. Approximately 89% of Colorado residents have a good credit score.
Population and Demographics in Colorado
The total population in Colorado State was 5.5 million by July 2016. 82.8% of this population is one-race white, 3.8% African American, 2.2% Asian and 1% Alaska native or American Indian. The ratio of men to women is one to one. The median age is 34.3 years, lower than the 37.7 national average. Of Colorado’s population, roughly 70% reside along the Rocky Mountains’ eastern edge, in the Front Range urban corridor.
The Economic Indicators in Colorado State
The Colorado Economy is mostly driven by manufacturing, followed by mining and agriculture. Scientific instruments are the leading manufactured products followed by communications equipment and computers. The state’s unemployment rate is at April 2017 is 2.3% (Denver -2.1%), almost half the national percentage of 4.4%. The median household income is $63,909 and the per capita income is $33,563 (a 3.6 increase from the past year).