Find Payday Loans in Connecticut
There are no specific cash advance lending statutory provisions subjecting creditors to interest rate caps on personal loans. Rather, a usury act or small loan legislation that prohibits lenders from issuing loans at triple-digit interest rates is applicable. Connecticut's small loan act authorizes payday cash loan companies to charge any interest rate and fees that the consumer is willing to pay. Creditors have to abide by other provisions of Connecticut's small loan laws.
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$17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest
The small loan rate cap is set at 30.03%.