Personal loans in Montrose, CO
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Montrose, CO.
The median household in Montrose earns $70,386 a year, 26% below the Colorado median of $95,470. About 12% of residents live below the federal poverty line, and 29.3% of households rent their home.
Colorado law that applies in Montrose
| Rate cap | Supervised (licensed) lenders may charge either up to 21% a year, or tiered rates of 36% on the first $1,000, 21% on $1,000 to $3,000, and 15% above $3,000. |
|---|---|
| License required | Yes. |
| Loan sizes covered | UCCC 'consumer loans' exclude loans over $75,000 not secured by real estate. |
Full rules with statute citations: Personal Loans in Colorado. Cities in Colorado cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Montrose
Lenders that serve Montrose typically ask for the following:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Montrose
What Montrose borrowers use it for
cover a short gap before payday
Holiday expensesgifts and travel without maxing a card
Emergencieshandle the unexpected the same week
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in Montrose
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Montrose
12 FDIC-insured bank branches from 11 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Bank of Colorado | 2 | 200 N Townsend Ave, Montrose 81401 |
| U.S. Bank National Association | 1 | 1500 E Oak Grove Rd, Montrose 81401 |
| Wells Fargo Bank, National Association | 1 | 1475 S Townsend Ave, Montrose 81401 |
| Zions Bancorporation, N.A. | 1 | 1200 S Townsend Ave, Montrose 81401 |
| BMO Bank National Association | 1 | 1105 S Townsend Ave, Montrose 81401 |
| Alpine Bank | 1 | 2770 Alpine Dr, Montrose 81401 |
| NBH Bank | 1 | 330 S 12th Street Unit B Stuite 1, Montrose 81401 |
| Timberline Bank | 1 | 1561 Oxbow Dr, Montrose 81401 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Montrose
3 credit-union locations from 2 credit unions.
| Credit union | Location |
|---|---|
| Nuvista | 2711 Commercial Way, Montrose 81401 |
| San Juan Mountains | 1400 E Main St, Montrose 81401 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Montrose County ·
Frequently asked questions
Can I get a personal loan with bad credit in Montrose?
Possibly. Lenders in our network consider applicants with fair and bad credit across Colorado, including Montrose. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Montrose, CO?
Supervised lenders: 21%, or tiered 36%/21%/15%; unlicensed lenders capped at 12%.
How fast can I get a personal loan in Montrose?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
How do I apply for a personal loan with bad credit in Montrose?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Montrose with our free 3-minute form.
Where can I find a loan for bad credit in Montrose?
You can apply at local banks and lenders in Montrose, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Montrose borrowers who qualify.
Do I need to visit a store in Montrose?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.