Montana features a restriction on payday advances offered in the continuing state: $50-$300. The minimum loan term is fourteen days; the utmost loan term is 31 times. The APR is capped at 36%, loan providers cannot set greater prices with their loans. Rollovers aren’t allowed. Unlawful actions against borrowers are forbidden.
From 1999 to 2010 Montana had been a location to be a payday lender. The industry flourished and interest levels reached 400%. But, the situation changed with all the passage of HB 118.