Kentucky state map

Payday Loans in Kansas

The Bluegrass State’s poverty rate of 18.8% is a lot higher than the national average of 12.7%. In fact, Kentucky’s poverty rate is fourth worst in the nation, which means that more than 800,000 Kentucky residents live at or below the poverty line.

At a Glance
Kentucky state flag
  • Nickname: The Bluegrass State
  • Population: 4,411,989
  • Website:
Average Credit Card Debt and Median Household Income in Kentucky vs. Nationally
The U.S.
Average Credit Card Debt
Median Household Income

Payday Loans in Kentucky

A payday loan is a small cash loan, typically for under $500, that uses the promise of a borrower’s next paycheck as collateral. There are 578 payday lenders in Kentucky, which means there are more places to take out a payday loan than there are McDonald’s restaurants in the state.

The maximum amount a payday loan in Kentucky is legally allowed to be is $500. Kentucky payday loan borrowers can take out a maximum of two payday loans at the same time, but the total amount is not allowed to be over $500. Each loan lasts from 14-60 days, and a $15 fee is charged for each $100 that is borrowed. If you borrow $100 and pay it back in 14 days, then you will effectively be paying 459% interest on the loan.


Quick Facts: Payday Lending in Kentucky
  • Maximum Loan Amount:$500
  • Loan Term:14-60 days
  • Rollovers Permitted?:No
  • Fees and Finance Charges:$15 per $100 on face value of check, plus a $1 database fee
  • Finance Charge on a 14-Day, $100 Loan:$17.65
  • APR on a 14-Day, $100 Loan:459%
  • Maximum Number of Outstanding Loans at a Time:2
  • Repayment Plan:None
  • Cooling-Off Period:None
  • Collection Fees:One non-sufficient funds (NSF) fee

Consumer Protection in Kentucky

You may contact the Kentucky Department of Financial Institutions at:

You can also file a complaint with the Kentucky Attorney General’s Consumer Protection Division:


Guides to Payday Loans in Kentucky Cities

Check out these payday loan guides to the following cities in Kentucky:


Works Cited