Montana

Payday Loans in Montana

At a Glance

Montana

Nickname: Big Sky Country
Population: 1.06 million
Capital: Helena
Website: mt.gov

About 13% of the population of Montana lives in poverty and, on average, residents of the state bring in annual incomes of about $6,600 less than the national average.

Average Credit Card Debt and Median Household Income in Montana vs. the U.S.

Montana

The U.S.

Average Credit Card Debt (Q2 2019)

Median Household Income (2018)

Payday Loans in Montana

Payday loans are technically legal in Montana, but lenders in the state can only charge an annual percentage rate (APR) of up to 36%.

According to a 2016 report in the Journal of Economics and Business, Montana had no known payday lenders based on information from regulators at the time of the study.

Consumer Protection in Montana

How to Report a Lender in Montana

Complaints about lenders can be made to the state’s Division of Banking and Financial Institutions.

Borrowers can contact the Montana Division of Banking and Financial Institutions by writing, calling, or submitting a complaint to:

Address: PO Box 200546; Helena, MT 59620

Phone: 406-841-2920

E-mail: banking@mt.gov

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Applications submitted on this website may be originated by one of several lenders, including: Opportunity Financial LLC, a licensed lender in certain states; or one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

DE residents: Opportunity Financial, LLC is licensed by the Delaware State Bank Commissioner, License No. 013016, expiring December 31, 2020.

NM Residents: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website http://www.rld.state.nm.us/financialinstitutions/.

NV Residents: The use of high-interest loans services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

¹ Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds are typically deposited via ACH for delivery for next business day if verification is completed and final approval occurs before 7:30 PM ET, Monday-Friday. Availability of the funds is dependent on how quickly your bank processes the transaction.

² OppLoans performs no credit checks through the three major credit bureaus Experian, Equifax, or TransUnion. Applicants’ credit scores are provided by Clarity Services, Inc., a credit reporting agency.

³ Testimonials reflect the individual's opinion and may not be illustrative of all individual experiences with OppLoans. Ratings on third-party websites may periodically change; please check the third-party websites for up-to-date reviews and ratings. Check loan reviews.

⁴ Rates and terms vary by state. This is an expensive form of credit and you should determine whether our product(s) meets your financial needs.

⁵ According to the Consumer Federation America, a non-profit consumer advocacy group, payday loans range in size from $100 to $1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400%. The maximum APR for a loan offered through and serviced by OppLoans is 199% and loan sizes range from $500 to $5,000. https://paydayloaninfo.org/facts

† OppLoans reports customer payment history to the three major credit bureaus. On-time payments may improve credit score. Credit reporting not available for Texas customers.

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