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Payday Loans in Oregon

Payday loans are temporary cash advances secured with your paycheck for future payment or electronic access to your bank account for automatic repayment. Customers borrow a pre-agreed amount plus interest from a lender and then receive a payday loan based on the amount. Sometimes borrowers can transfer funds digitally to their bank account to receive and also pay off a payday advance loan. Lenders hold the check until the customer's next payday arrives. To pay off a payday loan, consumers can redeem the check by paying the financing with money, allow the check to be transferred at the bank, or pay the money charge to roll the loan over for an additional pay duration. Some cash advance lenders also use longer-term installment loans and demand authorization to withdraw several settlements from the borrower's bank account based upon each payday period. 

How Much Can I Get with a Payday Loan Online in Oregon? 

Cash advance loans range in size from $100 to $2500, relying on state lawful optimums. The industry standard payday loan term is two weeks.

Requirements to Get Cash Advances

To get a payday loan, you must have an active bank account, a steady source of income, and recognition. Commonly lenders don't carry out a full credit report check or ask concerns to determine if a borrower can pay to settle the lending. Because payday loans are made based upon the borrower's ability to pay and not primarily the borrower's credit: these types of loans can often be an attractive option to people with poor credit.

Payday finance is accredited and controlled by state laws or laws in thirty-two states. Fifteen states and the District of Columbia shield their residents from high-cost cash advance lending with practical small financial price caps or other prohibitions. Their states have established reduced rate caps or longer terms for relatively cheaper car loans. On the internet, payday loan providers are generally subject to the state licensing regulations and price caps of the state where the borrower obtains the payday loan.

Reasons You Should Get a Payday Loan!

Payday loans are one of the most convenient ways to get money fast. The loan process usually takes a few minutes and will approve you almost instantly. Then, you can apply and get your cash as soon as the next business day.

Payday loans are a great lending option if you have a troublesome credit situation. However, online lenders might still offer you a bad credit loan if you have poor or no credit.

Another reason a payday loan is a great option is that you can do it all online. Apply online, get your cash deposited directly into your bank account, and you can even pay it back online.

Unlike other lenders, payday loan lenders don't require you to have any collateral to take out a cash loan. This is because these loans are aimed to help your financial situation, not make it worse.


As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.

Regulations of Payday Loans in Oregon
Status     Legal
Annual Percentage Rate (APR)     154%
Minimum Loan Amount     N/A
Maximum Loan Amount     $50,000
Minimum Loan Term     31 days
Maximum Loan Term     60 days
Number of Rollovers Allowed     2
Finance Charges     N/A
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

Payday loan business in Oregon is regulated by the following state laws: Chapter 725 and Chapter 725A.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
To find the information about payday lenders of the state you may visit the Oregon Division of Financial Regulation or phone the Attorney General’s office.

[ Updated on 14-Oct-2021, 23:10 ]

We've been in the industry for more than six years.