Payday loan Colorado alternatives include EZ Money, ACE Cash Express, and Advance America, plus many licensed online options for cash advance loans.
In Colorado, payday loans are small dollar amount debt instruments,
intended to be used for unexpected expenses and unseen emergencies, and
paid back within a minimum time set in the state laws.
According to industry statistics, some of their customers use these loans to avoid overdraft fees, late payment charges, and expenses related to disconnected services.
Also, because the loan application processing often does not include a credit check, these loan products are even available to Colorado residents with bad debt and steady job & income.
Cash advance loans are NOT, however, intended to be used as long-term financial solutions.
When researching whether a cash advance lending is suitable for your solutions, you should read through the applicable payday loan laws in Colorado, as well as get to know the alternatives to payday advances.
The Colorado cash advance laws regulate many aspects of the payday loan industry in the state, including minimum cash advance terms, maximum charges on the loans, and maximum loan amounts.
As for alternatives, these include small consumer loans from credit unions and local banks, salary advances from your employer, and taking a cash advance from a credit card.
Some of the popular choices for using a payday lender in Colorado include the nationally recognized franchises EZ Money, ACE Cash Express, and Advance America.
Of these, EZ Money, which is an Austin, Texas, based company, has locations in several cities in the state, including Denver. Nationwide, they have more than 400 payday lending locations.
In Colorado, their loan product range consists of installment loans, where the loan is paid back in installments over a longer period of time.
Similarly to EZ Money, the loans offered in Colorado by Advance America, the largest payday lender in United States, are mostly marketed as installment loans over a longer term, even though the terms often allow for a single payment on the due date.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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