Easy Money of New Mexico Incorporated also agreed to quit doing business in Colorado until it obtains a license to operate in the state.
The Colorado attorney general's office says Easy Money issued some 130 payday loans to consumers between March and July of last year without a license.
The company also failed to produce records of such loans when first subpoenaed.
Payday loans are loans of up to $500 typically issued by lenders who hold a postdated check from the borrower as payment.
The fine amount will pay for refunds to some Easy Money customers, and for consumer and creditor educational programs.