Loans for oregon residents

Compare your loan options in Oregon

You can get money quickly with a payday loan in Oregon, but do you know about the legalities?

Residents of Oregon can turn to payday loans when they need extra money, but taking some time to understand how these loans work is always a good idea. By the time you read this guide, you’ll know if you can benefit from payday lending in Oregon.

Check into Cash Payday Loan

Check into Cash Loans

Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.

  • Minimum. Loan Amount: $50
  • Loan Term: Varies by state
  • Turnaround Time: 1–2 business days
  • Total Costs: Varies depending on the amount and your state of residency.
  • Must be 18+
  • No security needed
  • Confidential and secure!

    Are payday loans legal in Oregon?

    Yes, payday loans, also referred to as cash advances and cash loans, are legal in Oregon. Oregon State’s revised statutes’ Chapter 725A governs the operation of payday lenders in the state. Payday lenders have to be in the primary business of providing loans, and payday loans should account for at least 10% of its loans.

    The maximum amount borrowed through a payday loan in Oregon cannot exceed $50,000, and primary use of approved funds should limit to personal, household or family expenses. Maximum loan terms cannot exceed 60 days, and the minimum term should be 31 days.
    Are payday loans legal in Salem, Oregon?

    Consider these lenders for a short term loan in Oregon

    Check the websites of any providers you’re interested in to confirm they operate in your state of residence.

    Rates last updated September 25th, 2017
    Name Product Max. Loan Amount Term of Loan Turnaround Time Costs
    LendUp Payday Loans
    $250
    7–30 days
    Generally receive the money the next business day
    Depends on your state, loan product, loan amount and the term of the loan.
    CashNetUSA Loan
    Varies by state
    Varies by state
    1 business day
    Varies by state of residency.
    ACE Cash Express Payday Loans
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Varies depending upon the state where you reside.
    Check City Payday Loan
    Depends on state of residency
    Varies by state
    Next day
    Depends on state of residency.
    Check into Cash Payday Loan
    $1,000
    Varies by state
    1–2 business days
    Varies depending on the amount and your state of residency.

    Compare up to 4 providers

    How an Oregon payday loan might benefit you

    The popularity of Oregon payday lenders continues to rise, and more and more people are turning to such lenders when they need money in a hurry. If you need some extra cash, here’s why you might consider getting a cash advance in Oregon.

    • Multiple options. There are a significant number of Oregon payday lenders to choose from, both online and in-store. In the online realm there are payday loan matching services that eliminate the need to do intensive research by matching you with lenders that have offers to fit your needs.
    • Quick process. A typical payday loan application takes no more than a few minutes to complete, and lenders normally inform applicants of their decision soon after. People who apply at storefronts can get money as soon as lenders approve their applications and they accept the loan terms. If you apply online, you may have to wait for a business day or more for your funds.
    • Use money in different ways. You can use the approved money for practically any legitimate personal purpose such as paying bills, repairing your car, buying a gift or getting by after a temporary setback.
    • Bad credit is alright. Getting a conventional loan if you have poor or bad credit can be a challenge, but if you find yourself in such a scenario you can still consider applying for a cash advance in Oregon. Instead of focusing on your creditworthiness, payday lenders look at your ability to repay the money you wish to borrow.

    What fees and charges do Oregon payday loans come with?

    Oregon payday loan laws dictate the fees and charges lenders can set. If you’re thinking about getting a payday loan in this state, here’s what you may have to pay in different situations:

    • Finance rate and fees. Oregon Payday lenders cannot charge an annual percentage rate (APR) of more than 36%. They can charge a one-time loan origination fee of $10 per $100, or $30, whichever is smaller. The maximum APR of a 31 day $100 loan is 156%, and the maximum finance charge is $13.
    • Collection fees. Your payday lender can charge one NSF fee of $20 as well as additional bank charges.
    • Rollover fees. You can renew a payday loan in Oregon twice. You don’t have to pay the origination fee again for renewed loans.

    How can I apply for an Oregon payday loan?

    Applying for a payday loan is easy and you can apply online or by visiting a payday lender’s store. To apply, you must meet some basic eligibility criteria:

    • You should be at least 18 years of age
    • You should be an American citizen or a permanent resident of the US
    • You should have a regular source of income

    To complete your application successfully, prepare to submit some basic information:

    • Your name, date of birth, social security number and a valid form of ID such as your driver’s license or passport
    • Your residential address, email address and phone number
    • Details about your employment and income
    • If you’re applying online, details of your existing checking account

    Important information about payday loans

    While payday loans can be beneficial for some, they aren’t always the best option for everyone. Follow the link for more information on payday loan alternatives.

    8 alternatives to payday loans

    Have any more questions about Oregon payday loans?

    Yes, there should be a seven days cooling-off period before the start or expiry of any two payday loans.

    No, payday lenders in this state cannot initiate criminal action against borrowers who default on their loans, but civil penalties can apply.

    This depends on the lender you choose to work with. You can get installment loans in Oregon through some lenders that provide payday loans.

    A maximum of two rollovers, are allowed on an existing loan. After rolling over the loan twice you will have to pay off the loan and interest in full

    Where else are payday loans available?

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and our Privacy Policy.

    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.

    LendUp Payday Loans

    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Get a better installment loan repayment terms up to 36 months, depending on your state.

    feedback