Does Colorado cap personal loan APRs?

Colorado voters approved Proposition 111 in 2018, which set the 36% cap on payday loans and certain small installment loans. The cap meaningfully reduced predatory lending in the state.

For personal loans above $1,000, Colorado allows market-rate pricing, though mainstream lenders rarely approach the upper end of allowed rates because of competition. Pre-qualify with multiple lenders to see actual offers; Colorado borrowers typically have access to the full national lender market.