Currently, the maximum period for a cash advance into the state is 1 month. In contrast, borrowers of little loans in Colorado will need to have at the very least half a year to spend them straight back, without any optimum loan period. In Ohio, borrowers have actually between 91 and 365 times to pay back once again that loan. The repayment must be less than 7% of the borrower’s net income if the period of the loan is less than 91 days.

Both states set interest that is annual near 30%. Continue reading →