Payday Loans in Colorado
- No minimum credit score required
- Quick and simple loan process
- Approval decisions in minutes
- Same-day funding options
1F Cash Advance has been helping people find emergency loans since 2019. We are a licensed company and operate under state laws. Over 140,305 consumers have already used our services, both online and in stores.
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We’re here to help you find the right payday loan to meet your urgent financial needs. 1F Cash Advance in Colorado connects borrowers with lenders that offer small, short-term personal loans based on a borrower’s income. Most lenders in our network do not run a hard credit check, making their loans available to people with bad credit.
By applying through us online, you can receive a fast approval decision in a couple of minutes and get a flexible loan solution from a trusted direct lender in our network on the same day.
How Payday Loans Work in Colorado
Unlike traditional payday loans that need to be repaid in full once you receive your next paycheck, Colorado payday loans give you at least 6 months to repay the funds. This means you can split the overall cost into affordable monthly installments, making your payments more manageable.
To be eligible for installment loans in Colorado, you need to meet the following criteria:
- Be at least 18 years old
- Have an active bank account
- Provide proof of a Colorado address
- Have a valid government-issued ID
The application process can be completed online by filling out a simple application form. Once approved, you will be notified via email and can receive the funds in your bank account within 1 business day after finalizing your loan.
Are Emergency Loans Right for Me?
An emergency loan might work for you if you have poor credit and are looking for a quick financial solution. As emergency loans in Colorado come with quick decisions, fast funding, and flexible repayment options, you can use them to cover larger expenses or unexpected costs, such as:
- Medical bills
- Car repairs
- Home repairs
- Other urgent needs that can’t wait until your next payday
Apply for a Payday Loan at 1F Cash Advance
Whether you apply in-store or online, payday loans in Colorado have a simple process that you can complete in 3 easy steps:
Submit your application
It will take you just 5 minutes to fill out our online form via your phone or laptop. We charge no application fees.
Get approved
The underwriting process is quick and involves no hard credit check in most cases.* You will receive a loan decision shortly after applying.
Receive money
Once approved, you will get your funds on the same day* or by the end of the next business day.
*Some lenders may perform a hard credit check with prior notice after you accept an offer. Loans approved before 10:30 am MT on weekdays are typically funded the same day. Applications submitted after 10:30 am MT or on weekends will be processed on the next business day.
Rates and Terms
The maximum amount you can borrow with a payday loan in Colorado is $500. The repayment needs to be made over at least 6 months. Under the state law, an interest rate is capped at 36%. You may be charged an origination fee of up to 20% of the first $300 loan plus 7.5% of any amount above $300. A monthly maintenance fee of up to $7.50 on each $100 increment of the amount financed may be charged. No maintenance fee may be collected on amounts of less than $100.
A 6-month loan term with a representative interest rate of 36%:
| Advance Amount | Total Interest | Origination Fee | Monthly Maintenance Fee | Monthly Payment | Total Cost |
|---|---|---|---|---|---|
| $100 | $10.76 | $20 | – | $18.46 | $130.76 |
| $350 | $37.65 | $63.75 | $22.50 | $87.11 | $586.40 |
| $500 | $53.79 | $75 | $30 | $122.30 | $808.79 |
A 36% cap puts Colorado well below what borrowers pay in many other states. Where lenders can charge whatever the market allows, a two-week payday loan with a $15 fee per $100 borrowed works out to an APR of almost 400%, and in some states single-payment payday loans still carry APRs above 600%.1, 2
Any non-bank lender making payday or installment loans in Colorado has to hold a license under the state’s Uniform Consumer Credit Code. It’s worth checking that a lender’s license is active and in good standing before you borrow.3
Find 1F Cash Advance in Colorado
1F Cash Advance connects Colorado residents who find themselves in need of fast cash with licensed lenders who specialize in small-dollar installment loans. Visit one of our stores and get personalized assistance from our loan specialists who can walk you through your options.
Why 1F Cash Advance?
1F Cash Advance helps borrowers across the credit spectrum get the money they need quickly. Here’s what sets us apart.
Quick & easy process
You can complete the entire process in just 5 minutes with no paperwork, no faxing, and no hard credit checks during our review process.
Same-day funding
Our lenders can meet your urgent cash needs due to fast processing and quick money transfers. Borrowers who finalized their loans early in the morning receive their funds on the same day.
Safe borrowing
When working with us, you deal with a licensed company that follows all the state laws and regulations, partners with legitimate lenders only, and carefully protects your personal and financial information.
FAQ
What are alternatives to payday loans in Colorado?
If you are looking for a higher amount with more time to repay, payday alternative loans from credit unions may be a good option at a lower cost. You can also apply for installment loans from our partner lenders. They allow you to borrow up to $5,000 for a maximum period of 24 months. People who want to finance ongoing needs can consider lines of credit. Borrowers with good credit who need a high amount for a major purchase or life event can turn to personal loans.
Can I get a payday loan with bad credit?
Lenders in the 1F Cash Advance network do not set minimum credit score requirements. They assess your overall financial situation and look at your ability to repay rather than your credit score.
How fast will I receive my loan funds?
On average, borrowers get their money within 1 business day of approval. Same-day funding is possible for loans originated before 10:30 am on weekdays.
What is the minimum and maximum amount I can borrow?
Minimum loan amounts are set by individual lenders in our network and vary. The maximum amount you can borrow is $500, depending on your income.
How will I repay my loan?
The repayment is made automatically by ACH debit. The due amount will be electronically withdrawn from your bank account on the scheduled payment date.
How can I get a Colorado payday loan with the best interest rate?
In Colorado, the annual interest rate on payday loans is capped at 36% under state law. However, the Annual Percentage Rate (APR), which includes origination and maintenance fees, might be higher. If you want to qualify for the lowest possible interest rate, you need to demonstrate good credit and a steady income that is high enough to repay the requested amount.
Can I reduce the loan cost while repaying it?
You can keep your loan cost down by repaying your loan early. This option comes with no penalties under Colorado law.
Sources
- 1 Consumer Financial Protection Bureau — What Is a Payday Loan? Updated June 2024.
- 2 Center for Responsible Lending — Down the Drain: Payday Lenders Take $2.4 Billion in Fees from Borrowers in One Year. Updated January 2025.
- 3 Colorado Attorney General — Uniform Consumer Credit Code: General Information.
Learn More About Payday Loans
Will Payday Loans Affect My Credit
What Are Installment Loans for Bad Credit