News About the Ever-Changing Payday Advance Industry
Section
High-cost payday loans effectively ended in New Hampshire in 2009. A reform that year capped the payday APR at 36% and barred any fee beyond interest, which made the business unprofitable. Payday loans up to $500 for 7–30 days are still allowed in theory, with no rollovers and a 60-day wait between loans.
| Status | Legal in name, but capped at 36% APR — high-cost payday ended |
|---|---|
| APR cap | 36% (2009 reform) |
| Fees | Interest only — no other charges or fees allowed |
| Maximum loan | $500 |
| Loan term | 7 to 30 days |
| Rollovers | Prohibited — no refinance, renewal, or extension |
| Between loans | No new payday loan if you had one in the prior 60 days |
| Prepayment | You can prepay, or pay $50+ increments, anytime at no charge |
| Regulator | New Hampshire Banking Department |
| Law | RSA 399-A:17 (Payday Loan Lenders) |
Payday lenders in New Hampshire are licensed by the Banking Department. To report a violation or an illegal lender, use the online complaint form.
With the 36% cap, look to a credit-union small loan or payday-alternative loan, an employer paycheck advance, or nonprofit credit counseling. See our guide to payday loans and alternatives.
Disclaimer: general information, not legal or financial advice. Laws change — verify the current rules with the New Hampshire Banking Department before borrowing. Last reviewed 2026.
Sources
They are legal in name, but a 2009 reform capped the APR at 36% and banned all fees beyond interest, which ended the high-cost payday business.
36% APR, and no other fees or charges are allowed beyond that interest.
Up to $500, for a term of 7 to 30 days.
No. Refinancing, renewing, or extending is prohibited, and you can't take a new loan if you had one in the prior 60 days.
New Hampshire
A New Hampshire House subcommittee voted last week against a 36 percent cap on payday loan and title loan interest rates, endorsing instead an interest rate nearly 10 times higher that had been proposed by the industry as a “compromise.”
New Hampshire
Sarah Mattson is a staff attorney for New Hampshire Legal Assistance in Manchester. The following is from the New Hampshire Union Leader …
New Hampshire
New Hampshire has become the magnet in New England for short-term high-interest providers of no fax payday loans - and state lawmakers are becoming increasingly uneasy about it.
The Eagle Tribune recently talked to Michael McKeon. The Masschusetts resident knows 25 percent interest each month is high, but when asked why he took out a $500 loan anyway, he just shrugged a little and said, “Desperate times. …”
New Hampshire
It all began in New Hampshire. That's where Advance America opened its first store. As the payday loan company faces stock issues, its spokesperson talked to The Union Leader.