MISSOULA, Mont. -- Opponents worry an initiative to cap interest rates on payday loans could drive them out of business.

Voters will decide Initiative 164 in November. Wednesday, supporters rallied in Missoula. Right now, lenders can charge more than 400% interest annually. The measure would cap the rate at 36%.

One payday lender thinks it's a bad idea. She worries about what her clients will do if lenders start going out of business.

"They can't go to their banks and borrow just $300 to buy groceries for their kids. I'm worried about what the people are going to do," Quik Check's Jill Wright said. "How many are going to not pay their rent and be out on the street?"

But protesters, including Missoula Mayor John Engen, say the lenders take advantage of people who are already down and out.

"I think there will be responsible lenders who can still compete in this marketplace at rates of 36%," Engen said. "I think that's still high, but it's a lot closer to fair."

The initiative went to the Montana Supreme Court earlier this month. The court upheld the initiative, although it changed some of the ballot language. Opponents say that voids the petition signatures, since people saw a different version.

The Secretary of State's office already certified the measure on the ballot.