Installment Loans by State
Installment loans repay principal over multiple scheduled payments, but the governing law, rate limits, loan sizes and licensing rules can differ substantially by state and lender type.
Choose your state
Each state page uses its own verified regulatory data and official sources.
Alabama permits regulated installment lending, but the applicable framework changes with loan size and lender authority. Sub-$1,500 Small Loan Act loans and broader Alabama…
Alaska separately regulates Small Loan Companies for higher-rate consumer loans under $25,000. Within PLS Cash Advance’s $500–$5,000 range, the law uses monthly rate bands…
Arizona permits regulated consumer lender loans up to $10,000 under the current codified framework. Within PLS Cash Advance’s $200–$5,000 range, the law uses a…
Lawful installment-style personal credit can exist in Arkansas, but the governing rate depends on the lender’s authority. Amendment 89 §3 caps “other loans” at…
California installment loans made by licensed finance lenders fall under the California Financing Law. Within PLS Cash Advance’s current $300–$5,000 routing range, loans below…
Colorado installment lending is governed by the UCCC supervised-loan framework. Within PLS Cash Advance’s $500–$5,000 routing range, ordinary supervised loans can use statutory tiered…
Connecticut permits licensed small-loan and installment lending under a broad Small Loan Act. For the current $1,000–$5,000 PLS Cash Advance range, the key ceiling…
Delaware licensed lenders may make closed-end consumer installment loans under Title 5, Chapter 22. For requests above the $1,000 short-term-loan category, the lawful installment…
Florida installment loans made under the Consumer Finance Act are a separate legal regime from payday/deferred-presentment lending. Chapter 516 covers licensed consumer finance loans…
Georgia permits lawful installment lending, but the legal framework changes at $3,000. GILA regulates covered consumer installment loans of $3,000 or less, while loans…
Hawaii replaced payday lending with licensed installment lending. Chapter 480J covers small-dollar installment loans up to $1,500 with a 36% interest ceiling, maintenance-fee bands,…
Idaho separately licenses regulated consumer lenders for installment borrowing. The Idaho Credit Code allows consumer-loan finance charges at contractually agreed rates subject to the…
Illinois Consumer Installment Loan Act licensees may make loans up to $40,000, with covered loan cost capped at 36% PLPA APR. Interest-bearing loans must…
Indiana regulates traditional installment lenders under its Uniform Consumer Credit Code. The current PLS Cash Advance $825–$5,000 routing range can include ordinary consumer loans…
Iowa provides regulated multi-payment consumer lending under its Consumer Credit Code. Because rate authority and some repayment rules depend on lender type and loan…
Kansas permits regulated closed-end consumer installment loans under the UCCC. Current law caps the periodic finance charge at 36% per annum and limits prepaid…
Kentucky licenses consumer loan companies for installment lending up to $15,000. Within the current PLS Cash Advance range, loans generally use substantially equal periodic…
Louisiana permits licensed consumer installment lending. Within the current PLS Cash Advance $700–$5,000 routing range, the Consumer Credit Law uses tiered annualized finance-charge ceilings…
Maine regulates higher-rate personal installment lending through its Supervised Lender framework. Within the PLS Cash Advance range, the statutory closed-end finance-charge ceiling is tiered…
Maryland permits licensed consumer and installment lending within statutory rate limits. The Consumer Loan Law applies to covered loans up to $25,000, while the…
Massachusetts licensed small-loan companies may make covered personal loans of $6,000 or less. The Small Loan Rate Order caps interest at 23% per annum…
Michigan’s Regulatory Loan framework provides a legal multi-payment route above the $600 deferred-presentment ceiling. Current DIFS guidance lists a 25% annual interest ceiling for…
Minnesota permits regulated consumer installment lending. Within the current $1,300–$5,000 routing range, §47.59 can allow the greater of 21.75% APR or a graduated 33%/19%…
Mississippi separately regulates multi-payment small loans. One current route is the Consumer Alternative Installment Loan Act, whose indexed maximum is $5,330 effective July 1,…
Missouri permits regulated consumer installment lending in any amount under §408.510, provided the loan is repaid in at least four substantially equal installments over…
Montana separately licenses consumer-loan companies for personal installment borrowing. The Consumer Loan Act applies to loans in any amount and caps interest at 36%…
Nebraska licenses installment lenders separately from delayed-deposit providers. The statutory rate is capped at 24% per year on the first $1,000 of unpaid principal…
Nevada’s Installment Loan and Finance Act regulates licensed installment lenders under Chapter 675. For the current PLS Cash Advance $1,000–$5,000 route, the agreement must…
New Hampshire regulates broader small loans up to $10,000 under RSA 399-A. Non-payday/non-title small loans are capped at 36% APR, and a loan with…
Licensed New Jersey consumer lenders may make personal, family or household loans up to $50,000. The current PLS Cash Advance range of $200–$5,000 fits…
New Mexico regulates licensed small-loan installment products up to $10,000. Covered loans generally require at least 120 days and four substantially equal payments, while…
Legal installment-style consumer loans can be available in New York even though payday loans are prohibited. Article 9 regulates certain personal loans of $25,000…
North Carolina permits regulated consumer-finance installment loans up to $25,000. Within PLS Cash Advance’s current $200–$5,000 range, the law uses tiered simple-interest ceilings, processing-fee…
North Dakota licenses money brokers for broader consumer lending. Covered finance charges are capped at a 36% annual rate including origination charges, while loans…
Ohio installment lending is not one legal product. For the current PLS Cash Advance range up to $5,000, the page distinguishes the Small Loan…
Oklahoma separately licenses supervised lenders under the UCCC for broader installment borrowing. Current rate and dollar rules vary by loan class and are updated…
Oregon installment loans longer than 60 days fall under the consumer-finance framework. DFR regulates personal loans of $50,000 or less and states that current…
Pennsylvania permits regulated installment lending through licensed Consumer Discount Companies and other lawful lender types. For the Consumer Discount Company regime, covered loans are…
Rhode Island permits licensed small loans up to $5,000, with monthly interest-rate bands of 3%, 2.5%, or 2% depending on loan size and amount-based…
South Carolina provides regulated multi-payment consumer-loan routes through Title 37 and, for covered consumer-finance companies, Title 34 Chapter 29. The current $550–$5,000 selector fits…
South Dakota treats installment lenders as Money Lenders under Chapter 54-4. For licensed lenders, total interest, fees and charges may not exceed a 36%…
Tennessee’s Industrial Loan & Thrift framework provides a regulated multi-payment route for consumer loans. Since July 1, 2025, the maximum effective interest rate on…
Texas installment loans can fall under Chapter 342 consumer-loan rules. The two important non-real-property structures for this guide are Subchapter E personal/secured consumer loans…
Utah consumer installment lending operates under the Utah Consumer Credit Code. Utah DFI states that state law does not specify a general interest-rate ceiling;…
Vermont licensed lenders may make installment loans subject to state rate ceilings. For an installment loan not otherwise limited, the ceiling is the higher…
Virginia Consumer Finance Companies may make covered installment loans from $300 to $35,000 for six to 120 months. Interest is capped at 36% simple…
Washington Consumer Loan Act licensees can make secured or unsecured consumer loans under a separate framework from payday lending. The Act caps interest at…
West Virginia licenses Regulated Consumer Lenders under Chapter 46A, Article 4. In the current $200–$5,000 PLS Cash Advance range, unsecured loans are subject to…
Wisconsin licensed loan companies provide a separate consumer-lending route from payday loans. A license is generally required for finance charges above 18% per year,…
Wyoming separately licenses Consumer Lenders for installment borrowing. The cited consumer-credit framework allows up to 36% per year on unpaid principal through $1,000 and…
Why installment-loan rules differ by state
“Installment loan” is a broad consumer term rather than one uniform statutory product. The guides below distinguish the relevant state lending regimes instead of forcing different legal structures into a single generic set of limits.
Regulatory citations, lender-license lookup links, detailed limits and calculator notes are shown on the individual state pages rather than duplicated here.