Personal loans in Parachute, CO
If a loan offer in Parachute looks cheaper than the rest, check the term and the fees before you assume it is. Colorado has its own licensing and rate rules for consumer lenders — each row below cites the regulator it came from. Because the rules are set at state level, the same loan amount can cost different amounts depending on where you live. Model two or three scenarios before you apply, so you know which terms are genuinely affordable. Nothing on this page is a loan offer, and no figure here is a quote.
What to know before you borrow in Colorado
| Interest rate cap (usury limit) | Usury limit: 8% if there is no agreement (C.R.S. 5-12-101); 45% is the maximum rate that may be agreed upon (C.R.S. 5-12-103). Finance rates and fees for licensed lenders: THE GREATER OF EITHER 36% per annum on the portion not exceeding $1,000 21% per annum on the portion between $1,000-$3,000 15% per annum on the remainder OR 21% per annum.Source: Conference of State Bank Supervisors · as of 2026 |
|---|---|
| Consumer lending regulator | Consumer lenders in Colorado are licensed and supervised by the Colorado Department of Law (Office of the Attorney General).Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the Colorado Office of the Attorney General.Source: Colorado Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans.Source: Consumer Financial Protection Bureau · as of 2024 |
See all Colorado lending rules →
Compare offers in Parachute
Work out the payment first with the personal loan calculator, then look at how quickly you could clear it using the loan payoff calculator.
If your credit history is thin or imperfect, the bad credit loan cost calculator shows what a higher rate actually costs over the term.
Check your rate with a lending partner in about two minutes. Checking does not affect your credit score.
Check your rateWe may be paid a commission if you apply through this link. This does not affect our calculators or guides, which are free and independent.
Frequently asked questions
Will applying for a loan in Parachute affect my credit score?
A pre-qualification check is typically a soft inquiry and does not affect your score. A full application is usually a hard inquiry, which can have a small, temporary effect.
What should I compare between two loan offers in Parachute?
Compare the APR rather than the interest rate, the term, any origination fee, and whether there is a prepayment penalty. The total amount repaid is the clearest single number.
Are payday loans available in Colorado?
Colorado has its own rules for short-term credit, which the sourced table above describes. Where a state restricts a product, lenders either change the terms or stop offering it locally.
Where can I check that a lender serving Parachute is legitimate?
The consumer lending regulator named in the table above publishes licence lookups. Checking a lender's licence before you share personal details is a reasonable precaution.
Nearby cities
- Personal loans in Mountain Village, CO
- Personal loans in Del Norte, CO
- Personal loans in Pagosa Springs, CO
- Personal loans in Keenesburg, CO
- Personal loans in Indian Hills, CO
- Personal loans in Paonia, CO
- Personal loans in Kersey, CO
- Personal loans in Kremmling, CO
- Personal loans in Columbine Valley, CO
- Personal loans in Loma, CO