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Current Payday Lenders in Oregon – Terms, Rates, Legislation

The list of payday lenders in Oregon

  1. Check Into Cash

    • Website: https://checkintocash.com/
    • Address: 201 Keith Street, Suite 5 Cleveland
    • Service: Online/Offline
    • State: Alabama, Alaska, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Louisiana, Mississippi, Missouri, Nevada, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming
  2. Lakeview Oregon

    • Website: https://www.lakevieworegon.org/
    • Address: 1125 E Broadway, #545 Glendale, CA 91205
    • Service: Online
    • State: Almost all US states including Oregon
  3. Cash Central

    • Website: https://www.cashcentral.com/
    • Address: 5165 Emerald Parkway, Suite 100, Dublin, OH 43017
    • Service: Online
    • State: Alabama, California, Delaware, Florida, Idaho, Kansas, Minnesota, Mississippi, Missouri, Nevada, North Dakota, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming
  4. Speedy Cash

    • Website: https://www.speedycash.com/
    • Address: P.O. Box #780408 Wichita, KS 67278
    • Service: Online/Offline
    • State: Alabama, Alaska, Arizona, California, Colorado, Delaware, Hawaii, Idaho, Illinois, Kansas, Louisiana, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming
  5. CashinaMoment

    • Website: https://www.cashinamoment.com/
    • Address: 113 Skyler Ln, Phoenix, OR 97535
    • Service: Online
    • State: Almost all US states
  6. ACE Cash Express

    • Website: https://acecashexpress.com/
    • Address: 300 E. John Carpenter Fwy, Ste. 900, Irving, Texas, 75062
    • Service: Online/Offline
    • State: California, Delaware, Florida, Idaho, Kansas, Louisiana, Minnesota, Missouri, New Mexico, Ohio, Oregon, Texas, Tennessee
  7. FaaastCash

    • Website: faaastcash.com
    • Address: 515 South Riverside Avenue Medford, Oregon 97501
    • Service: Online
    • State: Alabama, California, Colorado, Illinois, Kansas, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Oregon, Tennessee, Texas
  8. RISE Credit

    • Website: https://www.risecredit.com/
    • Address: P.O. Box 679900 Dallas, TX 75267-9900
    • Service: Online
    • State: Alabama, California, Delaware, Georgia, Idaho, Illinois, Missouri, New Mexico, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Texas, Utah, Wisconsin
  9. Open Cash Advance

    • Website: https://opencashadvance.com/
    • Address: 30 N GOULD ST, STE R, Sheridan, WY 82801
    • Service: Online
    • State: Almost all US states
  10. Payday Champion

    • Website: https://www.paydaychampion.com/
    • Address: 412 Main St. #420 Houston, TX 77002
    • Service: Online
    • States: All US states
  11. CashInASnap

    • Website: https://www.cashinasnap.com/
    • Address: 3119 Old Military Rd Ste 100 Central Point, OR 97502
    • Service: Online
    • States: Alabama, California, Colorado, Illinois, Kansas, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas
  12. MaybeLoan

    • Website: https://maybeloan.com/
    • Address: Unknown
    • Service: Online
    • States: Almost all US states
  13. MoneyLion

    • Website: https://www.moneylion.com/
    • Address: 30 West 21st Street Ninth Floor New York, NY 10010 USA
    • Service: Online
    • State: Almost all US states
  14. GreenDayOnline

    • Website: https://greendayonline.com/
    • Address: 15727 Anthem Pky San Antonio, Suite No#45 ,TX 78249
    • Service: Online
    • States: Almost all US states including Oregon

Are payday loans legal in Oregon?

2007 saw the state of Oregon terminated to many payday lending businesses. The state introduced a 36% interest rate cap. Further 2015 shew eliminating the loan agreements made prior to that date by unlicensed lenders. Today’s lending terms are pretty stricter. As a result, there not many lenders servicing Oregonians.

Oregon has set a $50,000 limit on payday loans offered and issued. The min term is 31 days. The max term is 60 days. The APR is limited to 36%. Lenders cannot charge more than this amount. It is allowed to issue 2 rollovers. It is prohibited to take criminal actions against borrowers.

Takeaways:

  • Maximum amount: $50,000
  • Maximum Interest Rate: 36% per year
  • Min term: 31 days
  • Max term: 60 days
  • Number of rollovers allowed: 2
  • Number of outstanding loans allowed: Any
  • Cooling-off period: 7 days
  • Finance charges: One-time origination fee of $10 per $100 advanced up to $30
  • Collection charges: One $20 nonsufficient funds (NSF) fee per loan transaction
  • Criminal action: Prohibited

Am I eligible for a payday loan in Oregon?

Here are the basic requirements for applying for Oregon payday loans:

  • be 18 years of age or over;
  • a legal resident of Oregon with a current address;
  • have a regular source of income, preferably for at least 3 months and $1,200;
  • have an active checking account and phone number;
  • be a U.S. citizen or legal resident.

Payday loan amounts in Oregon

In theoretical terms, Oregon determines a payday loan not exceeding $50,000. But in practice, the Oregon max loan amount is generally $300. The Oregon payday loan laws limit the payday loan finance charges to $10 per $100 of principal up to $30.

Maximum term for a payday loan in Oregon

The max term cannot be over 60 days. The minimum repayment term is at least 31 days.

Rates, fees and other charges in Oregon

The payday loan laws in Oregon introduce interest rate limits up to 36% annually. That doesn’t contain the one-time origination fee they withdraw with a single loan. The origination fee cannot exceed over $10 per $100 in principal up to a max of $30.

Additionally, the lender can charge you a $20 NSF fee. They may also charge an extra $2.50 to cover the fee they impose for a dishonored check or ACH.

What is the statute of limitations on a payday loan in Oregon?

Payday lending business in Oregon is controlled by the following state laws: Chapter 725 and Chapter 725A. All lenders that are capable to take out loans to Oregonians (offline and online) must be licensed to serve the citizens. At the moment, there are 7 Oregon-licensed lenders offering online loans.

A number of lenders have already lost licenses because they have brake state laws in terms of registration and licensing. These lenders cannot lend extra cash in Oregon anymore.

Consumer info

The Oregon Division of Financial Regulation is responsible for controlling the financial industry in the state. Financial industry includes banks, collection agencies, consumer finance companies, and payday lenders.

The main mission of this agency is to protect client access to certain products and services through education, regulation, and consumer assistance. This service belongs to the Department of Consumer and Business services. This is the largest consumer protection agency in Oregon.