Oregon is one of the few states that really puts a lot of emphasis into borrower protection. They limit payday loans to a maximum amount of $500 or 25% of a borrower’s monthly income, whatever is lower and enforces that fees remain at 10% of the total loan amount, not to exceed $30 total. This is a very good thing for borrowers but not for lenders.
To be able to stay in business, lenders will usually either offer alternative loans or simply make sure they lend you an amount you’re able to successfully pay back on time. This can lead to a lot of competition between lenders so you can often find perks and special deals, especially if you are a first time payday loan customer.
Oregon Pay Day Loan Laws
Maximum Loan Amount: $500., or not more than 25% of borrower’s monthly income
Maximum Interest Rate: 36%
Maximum Loan Fees: 10% of the loan, but not more than $30.
Minimum Payoff Time: 31 Days
Maximum Payoff Time: 60 days
Extensions Allowed: Two renewals
Top 5 Oregon Pay Day Loan Companies
19026 E. Burnside St.
Portland, OR
(503) 665-7535
rapidcashnow.com
Rapid Cash has a lot of offices around the Pacific Northwest and once you work with them, you are free to use any of their locations. You can get checks cashed here and pay bills electronically but they are most widely used as a payday loan source. You can apply for a payday loan and if you qualify, can get cash within just a couple of hours. This is a convenient way to get quick cash for emergency situations that may arise unexpectedly.
4219 Main Street
Springfield, OR
(541) 988-3388
speedycash.com
Speedy Cash is a popular payday loan center that runs a lot of radio advertisements across the state of Oregon. Many times you will hear an ad with a special coupon code you can use to save some money in fees if you’re a first time customer with them. This company focuses on providing you a payday loan as quickly as possible while giving outstanding customer service. You can also apply on their website so you don’t have to waste paper or time.
1235 Northwest 185th Avenue
Beaverton, OR
(503) 533-8865
99payday.com
Cash & Go is a one-stop shop that offers a multitude of different services. You can get almost any check cashed here, even ones from your Grandmother if you don’t have a bank account. The convenient locations and friendly staff are mentioned a few times in third-party reviews around the internet. In the state of Oregon you can get up to $500 on a traditional payday loan.
2235 Santiam Highway Southeast
Albany, OR
(541) 917-1960
cashcoloan.com
CashCo is open from 9am to 6pm Monday through Friday and offers payday loans during those times at it’s physical office. This company has actually received compliments through the Better Business Bureau as providing outstanding services in the state of Oregon. This gives borrowers great peace of mind knowing they are working with a well respected and honest company.
3670 River Road North
Keizer, OR
(503) 856-1100
ccsfinancial.com
Check Cashing Store is a company that has a record of excellence when providing short-term financial solutions to its customers and does a lot more than many realize. This company was part of a relief effort to help Haiti recover after the earthquake and gives to many other charities yearly. The payday loan services they provide help Oregon borrowers bridge the gap between payday and also have some peace of mind knowing a chunk of their fees go to a good cause.