Installment Loans in Connecticut
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 is the lesser of 36% APR or the applicable Military Lending Act maximum, with fully amortizing repayment and no prepayment penalty.
Connecticut legal category: Connecticut Small Loan / Personal Installment Loan · Connecticut Small Loan Act, General Statutes §§36a-555 to 36a-573
Connecticut installment loans at a glance
- Legal status
- Permitted Regulated
- Legal category
- Connecticut Small Loan / Personal Installment Loan
- Maximum amount in this regime
- $50,000
- Term
- No single statewide term is asserted for the entire small-loan range. The contract must satisfy the Act’s amortization, APR and anti-evasion requirements.
- Regulator
- Connecticut Department of Banking (DOB), Consumer Credit Division
- Verified
- 2026-09-06
Choose a loan type by amount
PLS Cash Advance currently presents request amounts from $200 to $5,000. The ranges below are navigation guidance between our state loan guides — not statutory limits, eligibility rules, or a promise of approval.
Payday Loans in Connecticut
Editorial routing for smaller, short-term-intent requests that can fit the licensed Connecticut small-loan framework. This is not a separate payday-law ceiling.
Installment Loans in Connecticut
Preferred routing for multi-payment Connecticut requests in the current site range; the underlying Small Loan Act also covers lower qualifying amounts.
Amount and term limits
Connecticut small-loan regulation covers qualifying loans of $50,000 or less where the APR exceeds 12%. The current PLS Cash Advance selector uses only the $1,000–$5,000 portion of that broader framework on this page.
No single statewide term is asserted for the entire small-loan range. The contract must satisfy the Act’s amortization, APR and anti-evasion requirements.
Interest, fees and repayment
Because the PLS Cash Advance offer range stops at $5,000, the relevant current range is principally the under-$5,000 36%-or-lower ceiling; the $25% band is recorded to explain the broader statutory regime.
For loans under $5,000, APR is capped at the lesser of 36% or the Military Lending Act maximum. For small loans from $5,000 through $50,000, the statute caps APR at 25%.
Covered loans must use a payment schedule that fully amortizes the outstanding principal and may not be structured to increase principal.
Rollovers, refinancing and early payment
- Rollover allowed?
- Not reduced to a yes/no rule
Installment renewals and refinances remain subject to the Small Loan Act; this page does not reduce those rules to a payday-style rollover flag. - Prepayment penalty allowed?
- No
The Small Loan Act prohibits prepayment penalties on covered small loans.
Connecticut borrower protections
- Connecticut DOB licenses and supervises qualifying small-loan companies.
- For covered loans under $5,000, APR may not exceed the lesser of 36% or the applicable Military Lending Act maximum.
- Covered loans must use a payment structure that fully amortizes principal.
- Prepayment penalties are prohibited.
- NMLS Consumer Access provides public license verification.
Connecticut loan cost calculator
How to verify a lender in Connecticut
Regulator: Connecticut Department of Banking (DOB), Consumer Credit Division.
Small Loan Company license unless exempt
Official sources
- Connecticut General Statutes §36a-558 — Permitted small-loan provisions · primary
- Connecticut DOB — Small Loan Companies Licensed in Connecticut · primary
- NMLS Consumer Access — Connecticut small-loan license lookup · primary
Last regulatory verification: 2026-09-06. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.