Oregon Payday Loans


If you’re considering getting a cash loan in the state of Oregon, the first step is to find out what kind of rates you have to deal with. Oregon currently practices strict policies to help regulate payday loans in their area.  We can offer you a comprehensive listing of payday loan information for OR and how to resolve any problems you might have with the application. The domain ensures that all information contained here are up to date and accurate, giving you the opportunity to make the most out of payday loans.

 Payday Loan Process in Oregon

It usually takes just a few days for a payday loan to be approved. After sending the application, the lender will get back to you in 48 hours and have the cash in your account within the week. Here are the requirements every lender typically asks for:

  • The borrower must be 18 years old and above
  • A resident of OR
  • A proof of employment must be provided
  • The borrower should meet minimum salary requirements
  • Borrower must own a savings or checking account

If you have a bad credit history, this shouldn’t be a problem since lenders also accommodate borrowers within this class. Even individuals receiving welfare checks or are already retired may avail of payday loan services. In cases like this, the amount of cash borrowed depends on their monthly receipts.

Oregon Payday Loan Laws and Regulations

All lenders need to operate within the states laws below:

  • Maximum Loan Amount: Unspecified
  • Loan Term: Minimum of 31 days
  • Finance Charge for $100 Loan in 14 Days: $13 for a 31 day loan
  • APR for $100 Loan in 14 Days: 156% APR for 31 day loan
  • Maximum Number of Outstanding Loans at a Time: No Limit
  • Rollovers Permitted: Two Renewals
  • Cooling-off Period: 7 days before or 7 days after expiration of last loan
  • Collection Fees: One $20 NSF fee plus additional bank charges 

The maximum finance rates are set at 36% APR interest rate. Typically, borrowers need to pay $10 to $30 for every $100 loan. All borrowers are encouraged to read up on the rates applicable on their loans and compare them with those stated above.

Oregon Consumer Protection

The Oregon Department of Consumer & Business Services is the institution responsible for monitoring payday loans. Any problems, questions and comments should be directed through their different contacts.

  • Address: Division of Finance & Corporate Securities, 350 Winter St. NE, Rm. 410 Salem OR 97301
  • Phone: (503) 378-4140 
  • Fax: (503) 947-7862
  • Look For: Michael McCord, Program Manager, Financial Services
  • Web : http://www.oregon.gov/DCBS/Pages/index.aspx

Oregon Payday Loan Alternatives

If you’re wary of payday loans and would like something more secure, credit cards are usually the best second choice. They can be used to buy various items while giving you the chance to pay on installment. For large cash flow problems, there’s also the possibility of bank loans. Some people prefer to sell some of their assets or pawn them off at the very least. If you’re seeking ways to avoid interest rates, friends and family might be willing to lend you the asked for amount. Some employers are also open to cash advance requests.

Payday Loans cities in Oregon:

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