Best Loans in Connecticut, Payday, Auto Title Laws of September 2026

ElitePersonalFinance • Loans By State •

Last Update: September 1, 2026

Best Loans in All States

ElitePersonalFinance Marketplace

Connecticut’s usury law puts a 12% APR cap on all non-regulated loans. However, lenders registered with Connecticut’s Department of Banking (DOB) can levy APRs upwards of 36% for loans up to $15,000. These include licensed banks, credit unions, and pawnbrokers.

For open-ended loans, licensed lenders can charge up to 19.8%.

For closed-end loans, licensed lenders can charge:

$17 per $100 on the first $600.
$11 per $100 on any excess from $601 to $1,800 for unsecured loans and loans secured by credit life insurance.
$11 per $100 on all secured loans > $1,800.

Connecticut’s check casher law stipulates that licensed businesses cannot charge more than 2% for cashing a check.

Best Bad Credit Loans in Connecticut of September 2026

ZippyLoan

Apply Now

Amount:

$100 - $15,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 72 Months

Licensed in Connecticut:

Yes

Get started

Upstart

Apply Now

Amount:

$1,000 - $50,000

Min. Credit Score:

300

APR:

5.6% - 35.99%

Approval:

5 Minutes

Terms:

3 - 5 Years

Licensed in Connecticut:

Yes

Get started

LifeLoans

Apply Now

Amount:

$100 - $40,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in Connecticut:

Yes

Get started

VivaLoan

Apply Now

Amount:

$100 - $15,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in Connecticut:

Yes

Get started

NextDayPersonalLoan

Apply Now

Amount:

$100 - $40,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in Connecticut:

Yes

Get started

FundsJoy

Apply Now

Amount:

$200 - $5,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 60 Months

Licensed in Connecticut:

Yes

Get started

SuperMoney

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

12 - 120 Months

Licensed in Connecticut:

Yes

Get started

PersonalLoans

Apply Now

Amount:

$1,000 - $35,000

Min. Credit Score:

580

APR:

5.99% - 35.99%

Approval:

< 1 Day

Terms:

90 Days - 72 Months

Licensed in Connecticut:

Yes

Get started

For a complete list of reputable lenders, see our guide on bad credit loans.

Best Personal Loans for Good Credit in Connecticut of September 2026

SuperMoney

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

4.99 - 35.99%

Approval:

1 Day

Terms:

12 - 120 months

Licensed in Connecticut:

Yes

Get started

Prosper

Apply Now

Amount:

$2,000 - $40,000

Min. Credit Score:

640

APR:

7.95% - 35.99%

Approval:

1 - 3 Days

Terms:

36 - 60 months

Licensed in Connecticut:

Yes

Get started

Credible

Apply Now

Amount:

$1,000 – $100,000

Min. Credit Score:

APR:

4.99 - 35.99%

Approval:

1 Day

Terms:

12 - 120 months

Licensed in Connecticut:

Yes

Get started

PersonalLoans

Apply Now

Amount:

$1,000 – $35,000

Min. Credit Score:

580

APR:

5.99% – 35.99%

Approval:

< 1 Day

Terms:

90 Days – 72 Months

Licensed in Connecticut:

Yes

Get started

LendingTree

Apply Now

Amount:

$1,000 – $50,000

Min. Credit Score:

500

APR:

3.99% – 35.99%

Approval:

< 1 Day

Terms:

1 – 5 Years

Licensed in Connecticut:

Yes

Get started

Upgrade

Apply Now

Amount:

$1,000 – $50,000

Min. Credit Score:

600

APR:

7.99% - 35.97%

Approval:

< 1 Day

Terms:

3 - 5 Years

Licensed in Connecticut:

Yes

Get started

PayOff

Apply Now

Amount:

$5,000 – $35,000

Min. Credit Score:

640

APR:

5.99% – 24.99%

Approval:

1 – 7 Days

Terms:

2 - 5 Years

Licensed in Connecticut:

Yes

Get started

Discover

Apply Now

Amount:

$2,500-$35,000

Min. Credit Score:

660

APR:

6.99-24.99%

Approval:

1 Day

Terms:

24 - 84 Months

Licensed in Connecticut:

Yes

Get started

Freedomplus

Apply Now

Amount:

$7,500 - $40,000

Min. Credit Score:

680

APR:

6 - 15%

Approval:

1 - 7 Days

Terms:

36 - 84 months

Licensed in Connecticut:

Yes

Get started

Payday Loan Laws in Connecticut of September 2026

Payday loans are prohibited in Connecticut.

Payday Loan Laws in Connecticut by Country of September 2026

ElitePersonalFinance analysis of payday loan laws by countries in the State of Connecticut.

We haven’t found a significant difference between the payday loan laws in Connecticut. If you are with bad credit, here are the laws in Connecticut by country.

City:	Amount Allowed:	APR Allowed:	Status:
City:Bridgeport	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Haven	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Stamford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Hartford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Waterbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Norwalk	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Danbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Britain	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:West Hartford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Greenwich	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Fairfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Hamden	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bristol	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Meriden	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Manchester	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:West Haven	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Milford city and Milford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Stratford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Hartford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Middletown	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Wallingford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Enfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Southington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Shelton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Norwich	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Groton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Trumbull	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Torrington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Glastonbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Newington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Cheshire	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Vernon	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Windsor	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Haven	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Branford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Newtown	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Westport	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Milford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New London	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Wethersfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Mansfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:South Windsor	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Farmington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Ridgefield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Windham	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Simsbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:North Haven	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Guilford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Watertown	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Darien	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bloomfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Berlin	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Canaan	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Rocky Hill	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Southbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Monroe	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bethel	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Montville	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Waterford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Ansonia	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Lyme	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Wilton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Stonington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Avon	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Madison	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Plainville	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Killingly	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Brookfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Wolcott	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Seymour	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Ellington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Colchester	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Suffield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Plainfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Ledyard	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Tolland	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:North Branford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Fairfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Cromwell	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Orange	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Oxford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Clinton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Hampton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Windsor Locks	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Derby	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Coventry	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Stafford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Plymouth	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Griswold	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Windsor	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Granby	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Somers	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Winchester	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Canton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Weston	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Old Saybrook	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Prospect	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Woodbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Burlington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Hebron	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Portland	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Putnam	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Thompson	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Redding	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Haddam	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Woodbridge	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Haddam	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Brooklyn	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Litchfield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Woodstock	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Middlebury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Thomaston	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Easton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Old Lyme	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Lebanon	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Durham	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Westbrook	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:New Hartford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Essex	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Killingworth	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Marlborough	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Beacon Falls	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Willington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bethany	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Harwinton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Columbia	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:East Granby	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:North Stonington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Canterbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bolton	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Preston	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Deep River	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Middlefield	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Lisbon	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Chester	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Ashford	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Pomfret	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Salem	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Sterling	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Barkhamsted	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Sherman	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Salisbury	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Washington	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Bethlehem	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:North Canaan	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited
City:Andover	Amount Allowed:N/A	APR Allowed:12%	Status:Prohibited

Car Title Loans in Connecticut of September 2026

Car title loans are legal in Connecticut.

However, their APRs are also capped:

For new cars, the maximum APR that a lender can charge is 15%.
For used cars < 2 years old, the maximum APR a lender can charge is 17%.
For used cards ≥ 2 years old, the maximum APR that a lender can charge is 19%.

Best Auto Loans for Bad Credit in Connecticut of September 2026

SuperMoney - Compare Loans to Buy Car

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

From 1.99%

Licensed in Connecticut:

Yes

Get started

SuperMoney - Compare Loans to Refinance Car

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

From 1.99%

Licensed in Connecticut:

Yes

Get started

StandardAutoFinancial

Apply Now

Amount:

Up to $100,000

Min. Credit Score:

APR:

Vary

Licensed in Connecticut:

Yes

Get started

MaxCarLoan

Apply Now

Amount:

Up to $100,000

Min. Credit Score:

APR:

Vary

Licensed in Connecticut:

Yes

Get started

FirstChoiceAutoLoan

Apply Now

Amount:

Up to $100,000

Min. Credit Score:

APR:

Vary

Licensed in Connecticut:

Yes

Get started

MyAutoLoan

Apply Now

Amount:

$8,000 - $100,000

Min. Credit Score:

500

APR:

2.74% - 27%

Licensed in Connecticut:

Yes

Get started

LendingTree

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

500

APR:

From 3.09%

Licensed in Connecticut:

Yes

Get started

Consumers

Apply Now

Amount:

$250 - $500,000

Min. Credit Score:

640

APR:

2.99% - 21.99%

Licensed in Connecticut:

Yes

Get started

OneMainFinancial

Apply Now

Amount:

$1,500 - $20,000

Min. Credit Score:

APR:

18.00% - 35.99%

Licensed in Connecticut:

Yes

Get started

CarsDirect

Apply Now

Amount:

$1,000 - $45,000

Min. Credit Score:

APR:

From 0.99%

Licensed in Connecticut:

Yes

Get started

Auto Credit Express

Apply Now

Amount:

$1,000 - $35,000

Min. Credit Score:

APR:

From 1.99%

Licensed in Connecticut:

Yes

Get started

CapitalOne

Apply Now

Amount:

$7,500 - $50,000

Min. Credit Score:

500

APR:

From 3.39%

Licensed in Connecticut:

Yes

Get started

LendingClub

Apply Now

Amount:

$5,000 – $55,000

Min. Credit Score:

510

APR:

3.99% - 24.99%

Licensed in Connecticut:

Yes

Get started

Carvana

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

3.90% - 27.90%

Licensed in Connecticut:

Yes

Get started

Best Auto Loans for Good Credit in Connecticut of September 2026

SuperMoney - Compare Loans to Buy Car

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

From 1.99%

Licensed in Connecticut:

Yes

Get started

SuperMoney - Compare Loans to Refinance Car

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

From 1.99%

Licensed in Connecticut:

Yes

Get started

LendingTree

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

500

APR:

From 3.09%

Licensed in Connecticut:

Yes

Get started

Consumers

Apply Now

Amount:

$250 - $500,000

Min. Credit Score:

640

APR:

2.99% - 21.99%

Licensed in Connecticut:

Yes

Get started

Lightstream

Apply Now

Amount:

$5,000-$100,000

Min. Credit Score:

660

APR:

4.99% to 9.19%

Licensed in Connecticut:

Yes

Get started

CapitalOne

Apply Now

Amount:

$7,500 - $50,000

Min. Credit Score:

500

APR:

From 3.39%

Licensed in Connecticut:

Yes

Get started

MyAutoLoan

Apply Now

Amount:

$8,000 - $100,000

Min. Credit Score:

500

APR:

2.74% - 27%

Licensed in Connecticut:

Yes

Get started

Carvana

Apply Now

Amount:

$1,000 - $100,000

Min. Credit Score:

APR:

3.90% - 27.90%

Licensed in Connecticut:

Yes

Get started

Usbank

Apply Now

Amount:

$3,000 - $100,000

Min. Credit Score:

650

APR:

From 3.12%

Licensed in Connecticut:

Yes

Get started

Bank Of America

Apply Now

Amount:

$5,000 - $100,000

Min. Credit Score:

640

APR:

From 3.54%

Licensed in Connecticut:

Yes

Get started

LendingClub

Apply Now

Amount:

$5,000 – $55,000

Min. Credit Score:

510

APR:

3.99% - 24.99%

Licensed in Connecticut:

Yes

Get started

Clearlane

Apply Now

Amount:

$5,000 - $100,000

Min. Credit Score:

600

APR:

3.54% - 10.24%

Licensed in Connecticut:

Yes

Get started

OneMainFinancial

Apply Now

Amount:

$1,500 - $20,000

Min. Credit Score:

APR:

18.00% - 35.99%

Licensed in Connecticut:

Yes

Get started

Credit Unions in Connecticut of September 2026

Name:	APR:	Amount:
Name:Connecticut State Employees Credit Union	APR:7.9% – 12.9%	Amount:Up to $15,000
Name:Connex Credit Union	APR:6.99%+	Amount:Up to $20,000

Connecticut State Employees Credit Union

The Connecticut State Employees Credit Union offers personal loans to all employees and retirees of Connecticut. Immediate family members are also eligible for services.

Personal Loans come with fixed APRs of 12.9%. You can borrow upwards of $15,000, and repayment terms reach upwards of 60 months. As well, all loans are unsecured, so no collateral is required.
Vacation Loans also allow you to borrow up to $15,000, but APRs are set at 7.9%. Repayment terms are stretched over a 1-year term.
Share Secured Loans use your CSE savings account as collateral. Your APR is the dividend rate + 2%. You can borrow up to your account’s full balance, and the loan is eligible for renewal.
Share Certificate Loans are like Share Secured Loans. Only a certificate of deposit (CD) is used as collateral. Your APR is the dividend rate + 2%, but you can only borrow up to 70% of your CD’s value. As well, you must repay the loan when your CD matures.

CSE operates 7 branches across Connecticut, located in Hartford, New Haven, Norwich, Southbury, etc.

Connex Credit Union

With a Connex Credit Union Personal/Signature Loan, you can borrow up to $20,000, and APRs are as low as 6.99%. Terms extend up to 60 months, and loans can be used to consolidate credit card debt, pay off holiday bills, pay your taxes, buy gifts for special occasions, take a family vacation, and many other purposes.

Connex Credit Union operates 8 branches across Connecticut, located in North Haven, Branford, Guilford, Hamden, etc.

All Licensed Credit Unions in Connecticut of September 2026

Name:	City:	Size (Millions):	Members:
Name:AMERICAN EAGLE FEDERAL CREDIT UNION	City:East Hartford	Size (Millions):$1,325.91	Members:98947
Name:CONNECTICUT STATE EMPLOYEES CREDIT UNION	City:Hartford	Size (Millions):$1,609.29	Members:70098
Name:CHARTER OAK FEDERAL CREDIT UNION	City:Groton	Size (Millions):$702.02	Members:66765
Name:SIKORSKY FINANCIAL CREDIT UNION	City:Stratford	Size (Millions):$644.05	Members:54609
Name:CONNEX CREDIT UNION	City:North Haven	Size (Millions):$363.02	Members:44862
Name:MUTUAL SECURITY CREDIT UNION	City:Shelton	Size (Millions):$234.69	Members:34405
Name:NUTMEG STATE FEDERAL CREDIT UNION	City:Rocky Hill	Size (Millions):$338.13	Members:28478
Name:GENERAL ELECTRIC EMPLOYEES FEDERAL CREDIT UNION	City:Milford	Size (Millions):$152.80	Members:24080
Name:COREPLUS FEDERAL CREDIT UNION	City:Norwich	Size (Millions):$192.27	Members:20965
Name:360 FEDERAL CREDIT UNION	City:Windsor Locks	Size (Millions):$200.08	Members:16332
Name:DUTCH POINT CREDIT UNION	City:Wethersfield	Size (Millions):$186.39	Members:16177
Name:WATERBURY CONNECTICUT TEACHER FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$221.14	Members:15607
Name:ACHIEVE FINANCIAL CREDIT UNION	City:Berlin	Size (Millions):$103.49	Members:15160
Name:SEASONS FEDERAL CREDIT UNION	City:Middletown	Size (Millions):$117.71	Members:14862
Name:LEDGE LIGHT FEDERAL CREDIT UNION	City:Groton	Size (Millions):$211.59	Members:14380
Name:HARTFORD FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$76.65	Members:13411
Name:HARTFORD HEALTHCARE FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$31.27	Members:10910
Name:UNITED BUSINESS & INDUSTRY FEDERAL CREDIT UNION	City:Plainville	Size (Millions):$78.24	Members:10783
Name:FIRST NEW ENGLAND FEDERAL CREDIT UNION (FNEFCU)	City:East Hartford	Size (Millions):$74.37	Members:10627
Name:WEPAWAUG-FLAGG FEDERAL CREDIT UNION	City:Hamden	Size (Millions):$74.05	Members:9983
Name:FIRST CONNECTICUT CREDIT UNION	City:Wallingford	Size (Millions):$35.87	Members:9854
Name:PITNEY BOWES EMPLOYEES FEDERAL CREDIT UNION	City:Stamford	Size (Millions):$78.82	Members:8896
Name:FIRST BRISTOL FEDERAL CREDIT UNION	City:Bristol	Size (Millions):$83.53	Members:8270
Name:WATERBURY FIREFIGHTERS FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$57.93	Members:8173
Name:NORTHWEST HILLS CREDIT UNION	City:Torrington	Size (Millions):$30.55	Members:7482
Name:TORRINGTON MUNICIPAL AND TEACHERS FEDERAL CREDIT UNION	City:Torrington	Size (Millions):$32.55	Members:6611
Name:NORTHEAST FAMILY FEDERAL CREDIT UNION	City:Manchester	Size (Millions):$69.75	Members:6493
Name:YALE-NEW HAVEN HEALTHCARE FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$27.84	Members:6067
Name:FRANKLIN TRUST FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$40.76	Members:6030
Name:WATERBURY TELEPHONE FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$33.72	Members:5823
Name:CAPITOL REGION FEDERAL CREDIT UNION	City:Wethersfield	Size (Millions):$29.87	Members:5399
Name:MERIDEN SCHOOLS FEDERAL CREDIT UNION	City:Meriden	Size (Millions):$56.81	Members:5229
Name:CONNECTICUT COMMUNITY CREDIT UNION	City:Stonington	Size (Millions):$20.53	Members:5179
Name:NEW HAVEN COUNTY CREDIT UNION	City:North Haven	Size (Millions):$19.80	Members:5059
Name:UNITED SHORELINE FEDERAL CREDIT UNION	City:Branford	Size (Millions):$30.54	Members:5021
Name:BRIDGEPORT CITY EMPLOYEES FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$29.71	Members:4855
Name:HARTFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$30.00	Members:4756
Name:STAMFORD FEDERAL CREDIT UNION	City:Stamford	Size (Millions):$52.38	Members:4689
Name:SOUNDVIEW FINANCIAL CREDIT UNION	City:Bethel	Size (Millions):$30.07	Members:4588
Name:FAIRFIELD COUNTY FEDERAL CREDIT UNION	City:Fairfield	Size (Millions):$29.43	Members:4509
Name:WINDSOR LOCKS FEDERAL CREDIT UNION	City:Windsor Locks	Size (Millions):$49.46	Members:4488
Name:WESTERN CONNECTICUT FEDERAL CREDIT UNION	City:Bethel	Size (Millions):$26.71	Members:4364
Name:GREATER WEST HAVEN FEDERAL CREDIT UNION	City:West Haven	Size (Millions):$26.17	Members:4307
Name:MEMBERS CREDIT UNION	City:Stamford	Size (Millions):$26.53	Members:4245
Name:WORKERS FEDERAL CREDIT UNION	City:Stafford	Size (Millions):$25.84	Members:4218
Name:TOBACCO VALLEY TEACHERS FEDERAL CREDIT UNION	City:Enfield	Size (Millions):$35.07	Members:3732
Name:STATE POLICE CREDIT UNION INC.	City:Meriden	Size (Millions):$56.16	Members:3701
Name:PERSONAL CARE AMERICA FEDERAL CREDIT UNION	City:Trumbull	Size (Millions):$17.77	Members:3652
Name:GREATER WATERTOWN FEDERAL CREDIT UNION	City:Watertown	Size (Millions):$19.91	Members:3639
Name:MCKESSON FEDERAL CREDIT UNION	City:Stratford	Size (Millions):$23.04	Members:3590
Name:THE GREATER NORWALK AREA CREDIT UNION	City:Norwalk	Size (Millions):$20.76	Members:3586
Name:ENFIELD COMMUNITY FEDERAL CREDIT UNION	City:Enfield	Size (Millions):$22.57	Members:3500
Name:LAWRENCE MEMORIAL HOSPITAL EMPLOYEE FEDERAL CREDIT UNION	City:New London	Size (Millions):$26.79	Members:3444
Name:MIDDCONN FEDERAL CREDIT UNION	City:Middletown	Size (Millions):$19.97	Members:3312
Name:NEW HAVEN POSTAL EMPLOYEES FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$10.57	Members:3227
Name:NORWALK HOSPITAL CREDIT UNION	City:Norwalk	Size (Millions):$32.07	Members:2959
Name:GHA FEDERAL CREDIT UNION	City:Greenwich	Size (Millions):$19.62	Members:2876
Name:UKRAINIAN SELFRELIANCE NEW ENGLAND FEDERAL CREDIT UNION (USNEFCU)	City:Wethersfield	Size (Millions):$34.90	Members:2836
Name:ST. VINCENT’S MEDICAL CENTER FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$17.93	Members:2703
Name:NEWINGTON VA FEDERAL CREDIT UNION	City:Newington	Size (Millions):$9.14	Members:2639
Name:STAMFORD HEALTHCARE CREDIT UNION	City:Stamford	Size (Millions):$15.11	Members:2582
Name:MERRITT FEDERAL CREDIT UNION	City:Wilton	Size (Millions):$15.44	Members:2518
Name:COMMUNITY HEALTHCARE CREDIT UNION	City:Manchester	Size (Millions):$8.33	Members:2451
Name:HARTFORD POSTAL EMPLOYEES CREDIT UNION	City:Wethersfield	Size (Millions):$9.67	Members:2363
Name:STAMFORD POSTAL EMPLOYEES FEDERAL CREDIT UNION	City:Stamford	Size (Millions):$12.10	Members:2314
Name:BRIDGEPORT HOSPITAL FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$18.43	Members:2277
Name:TRI-TOWN TEACHERS FEDERAL CREDIT UNION	City:Westport	Size (Millions):$16.60	Members:2266
Name:WALLINGFORD MUNICIPAL FEDERAL CREDIT UNION	City:Wallingford	Size (Millions):$15.41	Members:2216
Name:COMMUNITY CU OF NEW MILFORD, INC. CREDIT UNION	City:New Milford	Size (Millions):$10.13	Members:2089
Name:GREENWICH MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION	City:Greenwich	Size (Millions):$18.67	Members:1989
Name:GREATER WATERBURY HEALTHCARE FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$11.58	Members:1983
Name:BRIDGEPORT POLICE FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$13.38	Members:1969
Name:MIDDLESEX HEALTHCARE FEDERAL CREDIT UNION	City:Middletown	Size (Millions):$7.71	Members:1960
Name:CONNECTICUT FEDERAL CREDIT UNION	City:North Haven	Size (Millions):$6.45	Members:1907
Name:GREATER HARTFORD POLICE FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$18.53	Members:1882
Name:HARTFORD FIREFIGHTERS FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$16.78	Members:1848
Name:CONNECTICUT LABOR DEPT FEDERAL CREDIT UNION	City:Wethersfield	Size (Millions):$12.61	Members:1840
Name:FAIRFIELD MUNICIPAL FEDERAL CREDIT UNION	City:Fairfield	Size (Millions):$15.19	Members:1831
Name:METROPOLITAN DISTRICT EMPLOYEES CREDIT UNION	City:Hartford	Size (Millions):$23.74	Members:1799
Name:HOUSATONIC TEACHERS FEDERAL CREDIT UNION	City:Stratford	Size (Millions):$18.13	Members:1737
Name:ASA FEDERAL CREDIT UNION	City:Bloomfield	Size (Millions):$7.68	Members:1687
Name:NORTHEASTERN CT. HEALTH CARE CREDIT UNION	City:Putnam	Size (Millions):$8.13	Members:1648
Name:C S P EMPLOYEES FEDERAL CREDIT UNION	City:Somers	Size (Millions):$7.64	Members:1634
Name:MILFORD FEDERAL CREDIT UNION	City:Milford	Size (Millions):$11.87	Members:1623
Name:EAST HARTFORD FEDERAL CREDIT UNION	City:East Hartford	Size (Millions):$10.17	Members:1615
Name:MANCHESTER MUNICIPAL FEDERAL CREDIT UNION	City:Manchester	Size (Millions):$16.83	Members:1613
Name:NEW HAVEN TEACHERS FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$9.15	Members:1597
Name:BRISTOL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION	City:Bristol	Size (Millions):$10.07	Members:1516
Name:CONNECTICUT POSTAL FEDERAL CREDIT UNION	City:New Britain	Size (Millions):$14.30	Members:1450
Name:CNG FEDERAL CREDIT UNION (CNGFCU)	City:East Hartford	Size (Millions):$9.76	Members:1395
Name:DANBURY CYANAMID EMPLOYEES CREDIT UNION	City:Danbury	Size (Millions):$7.61	Members:1204
Name:BRIDGEPORT FAIRFIELD TEACHERS FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$6.06	Members:1174
Name:WATERBURY POSTAL EMPLOYEES FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$11.58	Members:1152
Name:ASSOCIATES FEDERAL CREDIT UNION	City:Windsor	Size (Millions):$6.79	Members:1140
Name:QUINNIPIAC VALLEY COMMUNITY FEDERAL CREDIT UNION	City:Wallingford	Size (Millions):$6.68	Members:1030
Name:WATERBURY POLICE FEDERAL CREDIT UNION	City:Waterbury	Size (Millions):$6.25	Members:995
Name:GROTON MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION	City:Groton	Size (Millions):$7.13	Members:970
Name:BRIDGEPORT POST OFFICE FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$4.26	Members:886
Name:NEW HAVEN POLICE FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$4.99	Members:856
Name:SCIENCE PARK FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$5.95	Members:839
Name:ROGERS EMPLOYEES FEDERAL CREDIT UNION	City:Wall Township	Size (Millions):$4.98	Members:814
Name:STRATFORD MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION	City:Stratford	Size (Millions):$4.84	Members:807
Name:SARGENT & COMPANY EMPLOYEES FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$3.27	Members:752
Name:CONNECTICUT TRANSIT FEDERAL CREDIT UNION	City:Hartford	Size (Millions):$1.51	Members:751
Name:HARTFORD COURANT EMP CREDIT UNION	City:Hartford	Size (Millions):$1.59	Members:725
Name:NEW HAVEN FIREFIGHTERS CREDIT UNION	City:New Haven	Size (Millions):$6.06	Members:721
Name:TRUMBULL CREDIT UNION	City:Trumbull	Size (Millions):$4.22	Members:652
Name:REGIONAL WATER AUTHORITY EMPLOYEES CREDIT UNION	City:New Haven	Size (Millions):$6.60	Members:629
Name:QUIET CORNER COMMUNITY CREDIT UNION	City:Putnam	Size (Millions):$1.67	Members:623
Name:NEW LONDON MUNICIPAL EMPLOYEES CREDIT UNION	City:New London	Size (Millions):$2.97	Members:578
Name:CONNECTICUT ENERGY EMPLOYEES CREDIT UNION	City:Bridgeport	Size (Millions):$3.01	Members:551
Name:EAST HAVEN MUNICIPAL EMPLOYEES CREDIT UNION	City:East Haven	Size (Millions):$2.39	Members:544
Name:FARREL FEDERAL CREDIT UNION	City:Ansonia	Size (Millions):$2.92	Members:538
Name:ARNOLD BAKERS EMPLOYEES FEDERAL CREDIT UNION	City:Greenwich	Size (Millions):$3.68	Members:472
Name:EAST END BAPTIST TABERNACLE FEDERAL CREDIT UNION	City:Bridgeport	Size (Millions):$0.21	Members:422
Name:IMMANUEL BAPTIST CHURCH FEDERAL CREDIT UNION	City:New Haven	Size (Millions):$0.10	Members:318
Name:WIREMOLD FEDERAL CREDIT UNION	City:West Hartford	Size (Millions):$0.84	Members:308
Name:FIRST BAPTIST CHURCH (STRATFORD) FEDERAL CREDIT UNION	City:Stratford	Size (Millions):$0.30	Members:300
Name:NORWALK POSTAL EMPLOYEES FEDERAL CREDIT UNION	City:Stratford	Size (Millions):$0.62	Members:289
Name:VALLEY CATHOLIC FEDERAL CREDIT UNION	City:Simsbury	Size (Millions):$1.11	Members:278
Name:CONSOLIDATED CONTROLS CORP. FEDERAL CREDIT UNION	City:Bethel	Size (Millions):$1.16	Members:261
Name:ENBIC COMPANY EMPLOYEES CREDIT UNION	City:Simsbury	Size (Millions):$0.31	Members:253
Name:VICTORY/PIATERER MUTUAL BENEFIT ASS CREDIT UNION	City:East Hartford	Size (Millions):$2.43	Members:250
Name:WARNACO EMPLOYEES FEDERAL CREDIT UNION	City:Milford	Size (Millions):$0.66	Members:242
Name:KIEF PROTECTIVE MUTUAL BENEFIT ASS. CREDIT UNION	City:Bloomfield	Size (Millions):$1.24	Members:241
Name:FAITH TABERNACLE BAPTIST FEDERAL CREDIT UNION	City:Stamford	Size (Millions):$0.21	Members:235
Name:BRAND-REX EMPLOYEES CREDIT UNION	City:Windham	Size (Millions):$0.68	Members:195
Name:CURTIS FEDERAL CREDIT UNION	City:Newtown	Size (Millions):$0.53	Members:144
Name:MERIDEN POSTAL EMPLOYEES FEDERAL CREDIT UNION	City:Meriden	Size (Millions):$0.98	Members:131

Student Loans in Connecticut of September 2026

Connecticut Higher Education Trust (CHET)

The CHET Program is a 529 savings plan that allows your money to grow tax-free. It takes about 15 minutes to set up and offers a variety of low-cost investment options. Funds are exempt from federal and state income tax, and you also receive an income tax deduction for all contributions.

Best of all, you can withdraw up to $10,000 per year tax-free. As long as the funds are used for “qualified higher education expenses” like tuition, books, supplies, computers, room, and board, you can access your savings worry-free. The proceeds can also be used at most accredited colleges and universities across the United States and even some institutions abroad.

Roberta B. Willis Merit Scholarship Program

The scholarship program is open to Connecticut high school seniors and graduates with a junior year class rank of 20% or higher and an SAT score of at least 1200 or an ACT score of at least 25. The beneficiary also has to attend a Connecticut public or non-profit private college.

Amounts include:

Up to $5,250 per year for full-time students in a 4-year program.
Up to $4,650 per year for full-time students in a 2-year program.

To apply, visit your high school guidance office. The deadline is February 15 of each year.

For students in need of financial aid, you can also apply for the Need-Based grant. When enrolled full-time in a 2 or 4-year program, you can receive up to $4,500 per year. To apply, contact your college’s financial aid office.

Federal Housing Administration (FHA) Loans in Connecticut of September 2026

Like other U.S. states, FHA loan limits in Connecticut vary by county. Fairfield offers the highest loan amount at $1,156,650. New Haven and New London offer the lowest loan amount at $314,827.

County:	Single Unit Limit (lowest):	Four-Plex Limit (highest):
County:Fairfield County	Single Unit Limit (lowest):$601,450	Four-Plex Limit (highest):$1,156,650
County:Hartford County	Single Unit Limit (lowest):$353,050	Four-Plex Limit (highest):$678,950
County:Litchfield County	Single Unit Limit (lowest):$357,650	Four-Plex Limit (highest):$687,800
County:Middlesex County	Single Unit Limit (lowest):$353,050	Four-Plex Limit (highest):$678,950
County:New Haven County	Single Unit Limit (lowest):$331,760	Four-Plex Limit (highest):$638,100
County:New London County	Single Unit Limit (lowest):$331,760	Four-Plex Limit (highest):$638,100
County:Tolland County	Single Unit Limit (lowest):$353,050	Four-Plex Limit (highest):$678,950
County:Windham County	Single Unit Limit (lowest):$339,250	Four-Plex Limit (highest):$652,400

Business Loans in Connecticut of September 2026

If you’re looking for convenience, these online lenders offer great service and affordable rates:

SuperMoney - Compare Business Loans

Apply Now

Amount:

Up to $10,000,000

APR:

Vary

Min. Credit Score:

Licensed in Connecticut:

Yes

Get started

LendingClub

Apply Now

Amount:

$5,000 - $500,000

APR:

9.77% - 35.98%

Min. Credit Score:

600

Licensed in Connecticut:

Yes

Get started

LendingTree

Apply Now

Amount:

$5,000 - $500,000

APR:

5.99% – 35.99%

Min. Credit Score:

500

Licensed in Connecticut:

Yes

Get started

Kabbage

Apply Now

Amount:

Up to $250,000

APR:

24% – 99%

Min. Credit Score:

560

Licensed in Connecticut:

Yes

Get started

SmartBiz SBA Loans

Apply Now

Amount:

Up to $350,000

APR:

9.28 - 10.52%

Min. Credit Score:

650

Licensed in Connecticut:

Yes

Get started

CredibilityCapital

Apply Now

Amount:

Up to $350,000

APR:

10.00 - 25.00%

Min. Credit Score:

680

Licensed in Connecticut:

Yes

Get started

Live Oak Bank

Apply Now

Amount:

$75,000 - $5,000,000

APR:

5.50 - 8.25%

Min. Credit Score:

650

Licensed in Connecticut:

Yes

Get started

Funding Circle

Apply Now

Amount:

Up to $500,000

APR:

12.18 - 36.00%

Min. Credit Score:

660

Licensed in Connecticut:

Yes

Get started

OnDeck

Apply Now

Amount:

Up to $500,000

APR:

9.00 - 99.00%

Min. Credit Score:

600

Licensed in Connecticut:

Yes

Get started

BlueVine

Apply Now

Amount:

Up to $5,000,000

APR:

15.00 - 78.00%

Min. Credit Score:

600

Licensed in Connecticut:

Yes

Get started

CaminoFinancial

Apply Now

Amount:

Up to $1,000,000

APR:

Vary

Min. Credit Score:

Licensed in Connecticut:

Yes

Get started

TheLoanExchange

Apply Now

Amount:

$6,000 to $250,000

APR:

Vary

Min. Credit Score:

Licensed in Connecticut:

Yes

Get started

If you prefer to deal with a local lender in Connecticut, consider the options below:

The Community Economic Development Fund (CEDF)

The CEDF is a non-profit organization that provides loans and credit lines to small businesses in Connecticut’s low-to-moderate income areas.

The organization works with:

Borrowers who have low credit scores.
Borrowers with limited collateral.
Borrowers who don’t qualify for bank loans.

The CEDF has three loan options to choose from:

A CEDF Term Loan provides funding for equipment, inventory, working capital, and debt refinancing. For loans with terms up to 6 years, you can borrow anywhere from $1,000 to $50,000. For loans with terms up to 10 years, you can borrow anywhere from $5,000 to $250,000. APRs are fixed, but they vary by the borrower.
A CEDF Commercial Real Estate Loan provides up to $500,000 to purchase an owner-occupied commercial property. Terms extend up to 20 years, but fixed APRs vary by the borrower.
A CEDF Line of Credit provides anywhere from $5,000 to $250,000 to help with cyclical or seasonal cash flow needs. Terms are renewable after one year, and APRs are variable.

To contact the CEDF, you can call them toll-free at 1-888-835-2333 or fill out the form on their website.

The Community Investment Corporation (CIC)

The CIC offers small business loans to entrepreneurs in Connecticut and Rhode Island. The organization has helped create more than 700 jobs in Connecticut over the last four years.

Its Community Advantage Loan is made for start-ups and includes consulting services to help entrepreneurs succeed. You can borrow up to $150,000 ($250,000 in certain cases), and variable APRs are set as the Wall Street Journal Prime Rate + 2% to 6%.

Loan terms are:

7-10 years for working capital, acquisitions, renovations, and start-up expenses.
Up to 25 years for real estate.

As a secondary product, CIC’s Microloans allow you to borrow up to $50,000 for standard businesses and up to $25,000 for childcare businesses.

Funds can be used for:

Equipment
Working capital
Insurance
Marketing
Inventory (except for childcare businesses)

Conclusion

Connecticut’s 12% APR cap on non-regulated loans keeps payday lenders from operating in the state. And while it’s not explicitly outlawed, payday lenders find it unprofitable to conduct business in Connecticut. Car title loans face a similar issue. While not illegal, the rate caps make their APRs similar to personal loans. And though using your car as collateral is a risky endeavor, the option is affordable if needed.