- Payday loans in Columbia follow Missouri law (RSMo 408.500, 408.505 and 408.506).
- Borrowing $300 at the state maximum costs Up to 75% of the loan over its whole life, including renewals.
- 3 credit unions are headquartered in Columbia; ask about small-dollar loans before borrowing.
Columbia at a glance
| Columbia | |
|---|---|
| Population (2024 Census estimate) | 130,900 |
| Change since 2020 | +3.6% (growing) |
| County | Boone County |
| Size rank among 608 Missouri places we cover | 4th |
| Share of Missouri’s population | 2.1% |
| Nearest larger city | St. Louis (about 114 miles) |
| Credit unions headquartered in town (NCUA) | 3, 1 federal |
| Credit unions headquartered in Boone County | 3 |
| Other towns within 25 miles | 17 (about 46,239 residents) |
| Typical payday APR statewide (CRL 2023) | 652% |
Whether you borrow at a storefront in St. Louis or online from Columbia, the lender must hold a Missouri license from the Missouri Division of Finance and follow state limits.
Credit unions in Columbia
These credit unions have their main office in Columbia, according to NCUA call report data (June 2026):
- Shelter Insurance Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Columbia Credit Union (state charter)
- Academic Employees Credit Union (state charter)
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Columbia
| Rule | Missouri |
|---|---|
| Maximum loan | $500 |
| Loan term | 14 to 31 days |
| Cost cap | Interest and fees capped at 75% of the initial loan, including all renewals |
| Renewals | No more than six |
| Early repayment | Repay by the close of the lender’s next full business day and you pay no interest or fees |
What a $300 loan costs in Columbia
At Missouri’s maximum fee, borrowing $300 costs Up to 75% of the loan over its whole life, including renewals. Statewide, the typical APR on a $400 payday loan was 652% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Boone County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Columbia that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Columbia
- Ashland · 10 mi
- Hallsville · 13 mi
- Jamestown · 15 mi
- Harrisburg · 15 mi
- Prairie Home · 17 mi
- Sturgeon · 20 mi
The nearest larger city is St. Louis, about 114 miles away. See all 608 Missouri cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Columbia?
Yes. Payday loans are legal in Columbia under Missouri state law, and lenders must be licensed by the Missouri Division of Finance.
How much does a payday loan cost in Columbia?
At Missouri’s maximum fee, borrowing $300 costs Up to 75% of the loan over its whole life, including renewals. The typical statewide APR was 652% in 2023.
Are there credit unions in Columbia?
Yes. NCUA data lists 3 credit unions with a main office in Columbia, including Shelter Insurance Federal Credit Union and Columbia Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- Missouri Division of Finance — Payday lenders
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary