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STATE Minnesota

Mississippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

New Jersey

LOAN TYPE $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap $250, 2-week payday loan $300, 1-month auto-title loan $500, 6-month loan $1000, 1-year loan Criminal usury cap

APR*

GRADE

235

F

116

F

51

F

38

F

None

NA

572

F

300

F

52

F

44

F

None

NA

1,955

F

No cap

F

No cap

F

No cap

F

24+

F

652

F

300

F

No cap

F

No cap

F

None

NA

460

F

Prohibited

P

47

F

36

P

None

NA

No cap

F

No cap

F

40

F

40

F

None

NA

36

P

36

P

No cap

F

No cap

F

None

NA

Prohibited

P

Prohibited

P

30

P

30

P

30

P

  • *

    If the APR includes a plus sign (“+”), the grade is an F because the APR could be higher than the stated APR. This situation occurs

if the state permits exceptions to the criminal usury cap and one of the four loan products in the Scorecard has an APR that exceeds 36%. Several states permit lenders to pick one or two or more rate and/or fee alternatives when making smaller loans. Note that the Scorecard APRs are based upon the maximum permissible rates/fees regime.

NATIONAL CONSUMER LAW CENTER

Updated Small Dollar Loan Products 5 17

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