EGCR’s Fun Legal Fact of the Week is here to help you get through the work week by sharing a random fact about a state law, regulation, and more!

Legal-facts-court-reporting-videography-300x212 EGCR’s Fun Legal Fact of the Week

In the state of Colorado, the law is that consumer loan interest rates are capped at a 12%, but this standard does not apply to mortgage and business loans.

However, if there’s no agreement terms established, the interest rate is capped at 8%. Additionally, Non-consumer loans are capped at 45% interest rate.