Loan Options in Montana

Montana voters approved Initiative I-164 in 2010, capping all consumer loans at 36% APR. The cap includes every fee a lender charges, so traditional payday loans - which typically run 300% APR or higher - can't operate here. Installment loans are still available from lenders licensed by the Division of Banking and Financial Institutions, but only if they stay under 36% APR.

If you see an online offer advertising rates above 36% for a Montana loan, that's a red flag. The lender may not be licensed or may be claiming an exemption that doesn't hold up under state law.

Because payday-style loans aren't a real option anymore, focus on the alternatives page and the Rates & Fees breakdown. For installment loan details, visit the installment loans page.

• 36% APR cap (MCA § 31-1-722): Every fee the lender charges counts toward the rate calculation. Lenders can't hide costs outside the APR the way they do in states without a comprehensive cap.
• Licensing requirement: Before you share personal information, search for the lender on the Division's website. Any company making consumer loans in Montana needs a state license.
• Formal complaint process: You can file a complaint directly with the Division of Banking if a lender breaks Montana law. That gives you an enforcement channel beyond the lender's own customer service.
• Anti-evasion rules: Montana law targets schemes designed to dodge the rate cap, including some online or tribal-affiliated arrangements. If a lender tells you the cap doesn't apply, check with the Division before moving forward.

Review the LendUp scams and safety guide before sharing your banking details with any lender, and verify their license through the Division's consumer finance portal.