Washington limits a payday loan to $700 or 30% of gross monthly income, whichever is less, and to 45 days. A borrower may receive no more than eight payday loans in any rolling 12-month period. The state’s database helps enforce that frequency rule, so a new application may be restricted even when a borrower has repaid earlier loans.
The maximum fee is 15% on the first $500 and 10% on any amount above $500. The Department’s example gives a $500, 14-day loan a 391% APR at the maximum fee. Borrowers can cancel within one day and may request a no-extra-fee installment plan if unable to repay on time. Check how that plan changes payment dates before authorizing a debit.
Payday lenders serving Washington residents, including online lenders, generally must be licensed by the state Department of Financial Institutions. Check the legal business name in DFI’s lookup before signing. Washington DFI says an unlicensed small loan may not be collectible in the state; if you suspect an unlicensed or abusive transaction, preserve the contract and payment records and file a complaint with DFI.
Official reference: Washington State Department of Financial Institutions — Payday Loans. Checked November 11, 2026.