Payday Loans Laws by State

EPF Last Update: May 21, 2020
StateLegalAPR RegulationsLoan AmountLoan TermsCost per $100Small Loan Rate Cap
AlabamaYes456.25%$50010 – 31 days$17.50N/A
AlaskaYes520%$500Min: 14 days$20N/A
ArizonaNoN/AN/AN/AN/A36% per year plus 5% fee
ArkansasNoN/AN/AN/AN/A17% per year
CaliforniaHeavily Regulated459%$300Max: 31 days$17.65N/A
ColoradoHeavily RegulatedN/A$500Min: 6 months$7.50N/A
ConnecticutNoN/AN/AN/AN/A30.03% APR or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest
DelawareYesNo Limit$500 per loan, $1,000 max per borrower at a one timeMax: 60 daysNo LimitN/A
FloridaYes419%$5007 – 31 days$16.11N/A
GeorgiaNoN/AN/AN/AN/A16% per year (10% per year discounted plus fees); 60% per year criminal usury cap
HawaiiHeavily Regulated459%$600Max: 32 days$17.65N/A
IdahoYesNo Limit$1,000Not SpecifiedN/AN/A
IllinoisHeavily Regulated403%lesser of $1000 or 25% gross monthly income13 – 45 days$15.50N/A
IndianaHeavily Regulated390%$550 or 20% of gross monthly incomeMin: 14 days$15N/A
IowaHeavily Regulated433%$500Max: 31 days$16.67N/A
KansasHeavily Regulated390%$5007 – 30 days$15N/A
KentuckyHeavily Regulated459%$50014 – 60 days$17.65N/A
LouisianaHeavily Regulated780%$35060 days or less$30N/A
MaineHeavily RegulatedN/AN/AN/AN/A30% per year on amounts up to $2,000 or a fee of $5 for amounts financed up to $75; $15 for amounts financed $75.01-$249.99; or $25 for amounts financed of $250 or more.
MarylandNoN/AN/AN/AN/A2.75% per month; 33% per year.
MassachusettsNoN/AN/AN/AN/A23% plus $20 administrative fee upon the granting of a loan
MichiganHeavily Regulated390%$600Max: 31 days$15N/A
MinnesotaHeavily Regulated390%$350Max: 30 days$15N/A
MississippiHeavily Regulated520%$500Under $250: maximum of 30 days; $250 – $500: 28 – 30 days$20N/A
MissouriYes1950%$50014 – 31 days$75N/A
MontanaHeavily Regulated36%$300Max: 31 days$1.39N/A
NebraskaHeavily Regulated459%$500Max: 34 days$17.65N/A
NevadaYesNo Limit25% of expected gross monthly incomeMax: 35 days; up to 90 days allowed if the initial agreement provides for installment payments and is not subject to extensionNo LimitN/A
New HampshireHeavily Regulated36%$5007 – 30 days$1.38N/A
New JerseyNoN/AN/AN/AN/A30% per year
New MexicoNo175%N/AMinimum maturity period of 120 daysN/AN/A
New YorkNoN/AN/AN/AN/A25% per year
North CarolinaNoN/AN/AN/AN/A36% per year
North DakotaYes520%$500Max: 60 days$20N/A
OhioHeavily Regulated28%$500Min: 31 days$1.08N/A
OklahomaHeavily Regulated390%$50012 – 45 days$15N/A
OregonYes156%Not specifiedMin: 31 days$13 for a 31-day loanN/A
PennsylvaniaNoN/AN/AN/AN/A$9.50 per $100 per year for interest, plus a service charge of $1.50 per $100 per year.
Rhode IslandYes260%$500Min: 13 days$10N/A
South CarolinaYes390%$550Max: 31 days$15N/A
South DakotaYesNo Limit$500Not SpecifiedNo LimitN/A
TennesseeYes459%$425 ($500 check)Max: 31 days$17.65N/A
TexasHeavily Regulated309.47%Not specified7 – 31 days$11.87N/A
UtahYesNo LimitNo LimitMay not exceed 10 weeksNo LimitN/A
VermontNoN/AN/AN/AN/A18% per year
VirginiaHeavily Regulated687.76%$500Min: 2 pay periods$26.38N/A
WashingtonHeavily Regulated390%$700 or 30% of gross monthly income, whichever is lessMax: 45 days$15N/A
West VirginiaNoN/AN/AN/AN/A31% per year on a loan of $2,000 or less
WisconsinYesNo LimitLesser of either $1,500 including fees or 35% gross monthly income90 days or less$30N/A
WyomingYes780%Not Specified1 calendar monthNo LimitN/A
Washington DCNoN/AN/AN/AN/A24% per year

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