Installment Loans in Colorado

Steps

1. Submit one request through LendUp or contact a licensed lender directly.
2. Gather your government-issued ID, proof of income (pay stubs or benefit letters), and bank account details for deposit and repayment.
3. Review the offer and loan agreement - confirm the payment schedule, total repayment amount, and the finance charge before you accept.

What to expect

• Credit check: Many lenders use a soft check to show potential offers, then a hard check when you accept. Ask which one they'll use before you move forward.
• Payment schedule: Your agreement must show each payment amount and due date - ask for this before signing.
• Funding: Some lenders can send money by direct deposit the same or next business day. Check the agreement for the funding method and the date the first payment is due.
• Automatic withdrawals: If the lender uses automatic withdrawals, confirm the withdrawal dates align with your pay schedule to avoid overdraft fees.

Use Colorado's official license lookup before you apply to confirm the lender is authorized to make consumer loans in the state.

1. Open the page above and follow the link to the Consumer Credit Unit License Holders Report to search for supervised lenders.
2. Search by the lender's legal name and any "doing business as" (DBA) name shown on the lender's website or your offer page.
3. Confirm the license status shows as active and that the listed address and contact information match what the lender shows you.
4. Check the disciplinary history column for any enforcement actions against the lender.

To report an unlicensed lender or a problem with a licensed lender, file a complaint through the Colorado Attorney General - Credit and Debt complaint page or call (720) 508-6012.

Your rights in Colorado

• Early payoff, no penalty: Under Colorado law, you may prepay your installment loan in full - or in part in amounts of at least $5 - at any time without a prepayment penalty.
• Written contract required: Colorado's UCCC requires lenders to disclose the full cost of credit in writing, including your payment schedule, total amount financed, and finance charge, before you are bound by the agreement.
• Wage garnishment only by court order: Under Colorado law, a lender cannot garnish your wages for a consumer credit debt without first obtaining a court judgment.

Walk away if

• An upfront fee is required before you can receive your funds or "unlock" your offer.
• The lender shows only the monthly payment and won't state the total repayment amount in writing.
• The lender won't provide a license number, or the Colorado lookup shows no active license for the name on your offer.
• Payment dates don't align with your income and the lender won't adjust the due date.
• Automatic withdrawals are required from an account already at risk of overdrafts, and the lender won't offer another payment method.

If payments look tight, explore non-loan options on Alternatives and review red flags on Scams and safety.