Payday borrowing options
Payday Loan Options
Need to cover a cash gap? Consider payday borrowing alongside a loan secured by an item you own. Compare the repayment commitment and full cost before choosing a lender.
- Full cost comparison
- Repayment terms
- Collateral differences
Your next step
Choose the right borrowing route
- 1
Choose your borrowing route
Consider whether you want to pledge an item or take on a repayment obligation with a lender.
- 2
Check the lender’s full terms
Compare the cash received, APR, required charges and every scheduled payment before deciding.
- 3
Apply directly with the lender
The lender handles its application, eligibility decision and loan agreement. Mountain Pawn does not make the lending decision.
Choose the amount you need
Start with the amount needed for the bill or expense. Compare that need with the cash you would actually receive after any applicable charges. The lender sets its available amounts and application requirements.
Payday borrowing or an item-backed loan?
A payday loan creates a repayment obligation under the lender’s agreement. A pawn loan involves leaving accepted property as collateral and meeting redemption terms to recover it. Compare the complete cost and payment dates with the risk of losing the pledged item.
The lender handles your application
Check the lender’s identity, eligibility requirements, credit-review process and terms before providing personal information. Mountain Pawn does not issue payday or installment loans or decide whether a lender approves a request.
Colorado payday loan limits
Colorado’s Deferred Deposit Loan Act limits payday loans to $500 and 36% APR, with a term of at least six months. These are legal limits, not a Mountain Pawn offer. The next payday is not automatically the loan’s maturity date. Colorado Title 5, article 3.1.
Compare collateral before you choose
For a pawn loan, weigh the item’s practical and sentimental value against the amount offered and the full redemption cost. For a payday option, review how payments are collected and what happens after a missed payment.
Your next choice
Prefer a scheduled payment plan?
Consider the repayment obligation and any property at risk.