Restricted Verified 2026-09-06 · ver. 0.2.3 How we verify these rules

Payday Loans in Connecticut

Connecticut does not permit the traditional unlicensed high-cost payday model. Payday-style borrowing is routed through the licensed Small Loan Act framework; under $5,000 the APR is capped at the lesser of 36% or the applicable federal Military Lending Act maximum.

Connecticut legal category: Payday-style Small Loan under the Connecticut Small Loan Act · Connecticut General Statutes §§36a-555 to 36a-573, including §36a-558

Connecticut payday loans at a glance

Legal status
Restricted
Legal category
Payday-style Small Loan under the Connecticut Small Loan Act
Maximum amount in this regime
$50,000
Term
Connecticut does not create a separate high-cost payday term schedule here. A lawful licensed small loan must comply with the Small Loan Act, including payment-structure requirements, rather than relying on a traditional triple-digit payday model.
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.

$200–$1,000 Current guide

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.

$1,000–$5,000

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.

See Installment Loans

Amount and term limits

Connecticut regulates qualifying small loans of $50,000 or less when the APR is above 12%. For a small loan under $5,000, §36a-558 caps APR at the lesser of 36% or the maximum allowed by the federal Military Lending Act.

Connecticut does not create a separate high-cost payday term schedule here. A lawful licensed small loan must comply with the Small Loan Act, including payment-structure requirements, rather than relying on a traditional triple-digit payday model.

Interest, fees and repayment

Traditional unlicensed payday loans above Connecticut limits are void and unenforceable. A properly licensed small-loan company may make qualifying loans within the statutory APR ceiling.

For a small loan under $5,000, APR may not exceed the lesser of 36% or the applicable Military Lending Act maximum. The APR definition captures finance charges rather than allowing separate fees to evade the ceiling.

The Small Loan Act prohibits payment structures that increase principal and requires covered closed-end repayment to amortize the debt rather than use a structure designed to evade the statutory limits.

Rollovers, refinancing and early payment

Rollover allowed?
Not reduced to a yes/no rule
Connecticut regulates the transaction through small-loan APR and structural requirements rather than a standalone payday rollover allowance on this page.
Prepayment penalty allowed?
No
Section 36a-558 bars prepayment penalties on covered small loans.

Connecticut borrower protections

  • Unlicensed payday-style loans that violate Connecticut small-loan requirements may be void and unenforceable.
  • Qualifying small loans under $5,000 are capped at the lesser of 36% APR or the applicable Military Lending Act maximum.
  • Small-loan activity generally requires a Connecticut DOB license unless an exemption applies.
  • Covered small loans may not include a prepayment penalty.
  • NMLS Consumer Access can be used to verify Connecticut small-loan companies.

Connecticut loan cost calculator

Why there is no single statutory calculator: Connecticut uses an all-in APR ceiling tied in part to the Military Lending Act and includes anti-evasion rules. A simple nominal-interest calculator would not prove compliance.

How to verify a lender in Connecticut

Regulator: Connecticut Department of Banking (DOB), Consumer Credit Division.

Small Loan Company license unless an exemption applies

Verify a lender license

Official sources

  1. Connecticut General Statutes §36a-558 — Permitted small-loan provisions · primary
  2. Connecticut DOB — Small Loan Companies Licensed in Connecticut · primary
  3. NMLS Consumer Access — Connecticut small-loan license lookup · primary
  4. Connecticut DOB — Payday Loan / Auto Title Loan Complaint Notice · primary

Last regulatory verification: 2026-09-06. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.