Legal Status



Wash. Rev. Code Ann. 31.45.010 et seq.

Loan Terms

Maximum Loan Amount: $700 or 30% of gross monthly income, whichever is less

Loan Term: 7

Finance Charge for 14-day $100 Loan: 15

APR for 14-day $100 Loan: 391%

Debt Limits

Maximum Number of Outstanding Loans at One Time: Cannot exceed $700 from one lender, nor can one lendee have more than 8 checks in 12 months. Rev. Code Wash. (ARCW) § 31.45.073

Rollovers Permitted: No. Rev. Code Wash. (ARCW) § 31.45.073

Cooling-off Period: None mentioned.

Collection Limits

Collection Fees: One time fee for insufficient funds. Can sue for costs of collection, excluding attorney's fees and other interest. Wash. Rev. Code Ann. § 31.45.082

Criminal Action: Not allowed. Wash. Rev. Code Ann. § 31.45.082