Montana Payday Loans

Every state governs the payday cash advance laws within it. Montana allows cash advance loans with a few contingencies. First, the loan amount cannot exceed 25 percent of the gross monthly income of the borrower. Income must be determined with paystubs - sometimes more than just one. A borrower can take out two payday loans at the same time as long as the total does not exceed $300. When a borrower takes out a cash advance loan there is a $50, plus any additional fees, minimum. Loan splitting, which is when a lender divides a loan into two or more parts and charges separate fees, is against the law in Montana. Cash advance lenders can take civil action against borrowers that enter default, but criminal charges are not allowed.

Maximum Principal

Borrowers can request up to $300, not including the loan fees. The loan cannot be more than 25 percent of the borrower's gross monthly income, however.

Length of Loan

The loan term can be as short as four days or as long as 31 days.

Rollovers

Loans cannot be renewed or extended past the original date, but if the payday lender decides to extend the due date at no extra charge, that is allowed.

Fees

The fees associated with a cash advance cannot be for more than 25 percent of the principal amount. So the finance fee for a $100 loan for two weeks cannot exceed $25.

APR

A two-week loan of $100 has an APR of 650 percent.

Express Check Cashing
111 South 24th Street West Unit 13
Billings, MT 59102
The Cash Advantage - Westside
1005 North Last Chance Gulch Street
Helena, MT 59601
Sunshine Check Advance & Title Loan
2105 North Last Chance Gulch Street
Helena, MT 59601
Quik Check
617 10th Avenue South Suite A
Great Falls, MT 59405
Autocheck of Montana
600 Central Avenue Suite 424
Great Falls, MT 59401
Advance Check Loans
2020 West Babcock Street Suite 3
Bozeman, MT 59718
Title Cash Belgrade
90 West Madison Avenue Suite C
Belgrade, MT 59714
EZ Money Check Cashing Center
2100 Stephens Avenue Suite 101
Missoula, MT 59801
B & R Check Holders
1216 16th Street West Suite 32
Billings, MT 59102
E Z Money Check Cashing Center
2499 King Avenue West Suite A
Billings, MT 59102

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Montana Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter
2012$6323714%51%18%17%28%72%
2011$5653810%48%24%18%35%65%
2010$571425%42%22%31%44%56%