The $1,000 Cap and 5-Loan Limit
Under Delaware's Small Loan Act (5 Del. C. §§ 2227 et seq., §978, §2744), a borrower can receive up to $1,000 per contract, but is limited to no more than five outstanding loans at any one time. That combination allows for meaningfully more total borrowing capacity than states with a single low per-loan cap, while still capping the number of simultaneous obligations.
The 60-Day Term Limit
A Delaware payday loan can't run longer than 60 days — a longer maximum window than the typical two-week payday structure seen elsewhere, giving borrowers more time to repay without automatically triggering a rollover.
Deferral Rules
State law prohibits lenders from charging additional interest on a loan with a balance still outstanding 10 weeks after the original agreement date. Lenders can permit borrowers to defer installment payments and charge a deferral fee, along with insurance premium costs continuing during that deferral period, but the interest itself is capped from compounding indefinitely.
| Factor | Delaware Rule |
|---|---|
| Maximum loan amount | $1,000 per contract |
| Simultaneous loans | Up to 5 |
| Maximum term | 60 days |
| Interest after 10 weeks | Cannot continue accruing |
Because Delaware allows up to five simultaneous loans, it's especially worth tracking your total outstanding balance across lenders rather than evaluating each loan in isolation.
Compare Delaware lender offers — free, no obligation.
Start Your Free Match →