Where to find a lender near you, and what you need to apply.
Already have a loan? You technically can take out another payday loan — but you risk getting trapped in a cycle of debt.
Can I get a payday loan in Portland, Oregon?
Yes, you can get a payday loan in Portland, Oregon both online and in stores, though state law has some restrictions. Here’s what you can expect:
- Maximum amount: $50,000
- Maximum interest rate: 36%
- Maximum fees: $10 per $100 borrowed or $30, whichever is less
- Terms: 31 to 60 days
- Renewals: Up to two renewals allowed per loan
In Oregon, payday lenders must be licensed — this makes it easier to tell if they’re legit. You can check out our article on Oregon payday loans to learn more about how they work.
Compare short-term loans available in Portland
What do I need to apply?
While each payday lender is different, you typically need to meet the following requirements to apply for a payday loan in Portland:
- Have a regular source of income. While you might not need to be employed, you need to show that you have enough money coming in to repay the loan. Some Portland lenders require a monthly income of at least $1,000.
- Have a checking account. A few storefront lenders offer payday loans in cash, but if you borrow online you’ll need an active checking account to receive your funds. Some might be willing to work with savings account holders.
- Be older than 18. You must be 18 or older to take out any kind of loan in Oregon.
- Be a US citizen or permanent resident. If you’re looking for financing while on a visa, you might want to check out our article on nonresident loans instead.
When you apply, you might need to provide the following documents and information:
- Valid ID. Lenders typically accept any up-to-date state-issued ID like a driver’s license or passport.
- Verification of income. Some lenders want to see bank statements or pay stubs to make sure you’re bringing in the money you say you are.
- Bank account information. You might be asked for your account and routing number so your lender can transfer the money directly into your account.
- Contact information. You generally need to provide your address, phone number and email when you apply for a short-term loan.
Where to find short-term loan locations in Portland
Short-term loan locations near me in Portland, OR
- Rapid Cash.3849 SE Powell Blvd, Portland, OR 97202
- Cashco Financial Services Inc.3420 SE Cesar Estrada Chavez Blvd, Portland, OR 97202
- Cash & Go.1235 NW 185th Ave, Beaverton, OR 97006
- ACE Cash Express.2929 SE Powell Blvd, Portland, OR 97202
- The Equitable Finance Company.4124 SE 82nd Ave, Portland, OR 97266
- Cash Land.11051 SE Division St, Portland, OR 97266
- United Finance.10245 NE Clackamas St, Portland, OR 97220
- OneMain Financial.4340 NE Sandy Blvd, Portland, OR 97213
- Excel Financial of Portland Inc.3809 SW Hall Blvd, Beaverton, OR 97005
- One Stop Check Centers.1724 NE Broadway St, Portland, OR 97232
Be cautious of overborrowing
Portland law allows payday lenders to provide loans up to $50,000. While many don’t offer loans of that amount, the more you borrow, the more you’ll pay in interest and fees. With terms capped at 60 days, this can get expensive in the short and long term. Combine this with multiple payday loans and you can find yourself in a cycle of debt.
Bottom line
While Oregon has some protections for payday loan borrowers — like capping the cost — Portland payday loans can still be expensive. Make sure you’re working with a licensed lender, and consider your alternatives first before you apply.
Want to learn more about how short-term loans work? Read our guide to payday loans.
Frequently asked questions
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