Kentucky Payday Loans

Kentucky Rev. Stat. Ann. §§ 286.9.010 et seq.
Status: Legal (Applies to check cashers only)

Payday loans are legal in the state of Kentucky, pursuant to Kentucky Rev. Stat. Ann. ยงยง 286.9.010 et seq. The number of companies offering payday loans in Kentucky currently stands at 620, with the initial loan term standing between 14 and 60 days and a maximum loan amount of up to $500.

Payday Loan Lending Laws in Kentucky

State law prohibits a borrower from taking more than two loans simultaneously over a two-week period, with each loan amount maximized at $500 and lender charges no exceeding $15.  With a time period between 14 and 60 days, finance charges on $100 loans cannot exceed $17.65, and the APR on $100 loans over a two-period cannot exceed 459%.   While rollovers are not allowed in the state and all loans are required to be repaid in time, the state also does not feature a cooling-off period between loans.  As such, borrowers are eligible for new loans as long as the previous ones are repaid.  These regulations appear to encourage financial responsibility with the potential borrowers, but care should still be taken when considering a payday loan.

In terms of collection, for every defaulted loan only one nonsufficient funds fee can be charged, although the amount is not specified by state regulations.  Any criminal actions against borrowers, such as a lender threatening a delinquent payment with jail time or criminal charges, are prohibited.  Likewise, no insurance charges or any other similar charges are not permitted, although exceptions are made for returned check fees and any charges for cashing the loan proceeds if the funds are given to a borrower in check form.  A licensed or supervised lender may also charge an amount not to exceed 15 percent of the amount of the cash advance, and the contract rate of any loan made shall not be more than three percent per month of the loan proceeds after the maturity date.

Kentucky has a unique law regarding cash advance loans in that lenders are required to register with a statewide lender database. This allows regulation authorities to keep track and easily monitor all the payday lending transaction and find out information about the amount of loan and the lenders terms, and fees.  However, while the database allows regulators to monitor a lender for illegal lending practices, it does not free a potential borrower from their responsibilities to a lender.


To apply for a payday loan in Kentucky, a potential borrower must meet these requirements:

  • Be at least 18 years old
  • Be employed for at least one month.
  • Have an active checking account
  • Be a U.S. citizen or permanent resident.

Lending Rules*

Lenders in the state of Kentucky are legally required to comply by the following limitations according to Kentucky Rev. Stat. Ann. §§ 286.9.010 et seq.:

Maximum Loan Amount:
Minimum Length of Loan:
14 days
Maximum Length of Loan:
60 days
Maximum Finance Rate & Fees:
$15 per $100 on face value of check + $1 database fee
Finance Charge for 14-day $100 Loan:
APR for 14-day $100 Loan:
Max # Outstanding Loans at One Time:
Two ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted:
None (cannot renew, rollover, or consolidate)
Collection Fees:
One NSF fee (if disclosed)
Criminal Action:
*The information displayed may not be current. For the most recent information, please visit

Regulatory Information

If you have a complaint against a Kentucky Cash Advance location you can contact your state regulator below:

Kentucky Office of Financial Institutions
1025 Capital Center Drive, Suite 200 Frankfort KY 40601
(800) 223-2579
(502) 573-8787

Kentucky Lenders

Below you can find Kentucky payday loan lenders in the following cities:

Kentucky Statistics**

The following information is key demographic data for the state of Kentucky from the Census bureau.

Total Population:
Median Household Income:
Poverty Rate:
Median Gross Rent:
High School Graduate or Higher:
Bachelor's Degree or Higher:
**The information displayed may not be current. For the most recent information, please visit

Borrow Safely, Borrow Responsibly

While cash advances can be an effective way to address short-term financial emergencies, the responsibility of understanding the loan terms and repaying the loan rests with the borrower.  Potential users should understand the loan terms including applicable fees and repayment schedules before applying.  Borrowers should also contact the Kentucky Office of Financial Institutions with any concerns or questions. is an independent comparison service provider. Reasonable efforts have been made to maintain accurate information throughout our website; however, all information is presented without warranty or guarantee. may receive compensation from our partners, including, but not limited to, clicking on links and lead generation.