Best Payday Loan Lenders in Oregon

In the past two decades, Oregon’s stance on payday loans has taken a 180-degree turn. The Beaver State called for a crackdown on exorbitant APRs and successfully curbed them in 2007. This led to a major exodus of over two-thirds of Oregon’s payday storefronts. Nowadays, merely a handful of licensed payday businesses operate in the state. With terms and regulations standardized, all payday loans in Oregon have to uphold the same rules. That said, some services are better than others. So, after thorough research, we present to you only the cream of the crop. Scroll on to discover which brands made the cut!

The Best Payday Loans in Oregon

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Quik Check Logo

Quik Check

Lending Money Your Way, Every Day

Quik Check is a mom-and-pop shop, which separates it from the rest of the nationwide brands on our list. They have been in business since 1994, operating in 4 states across the country. This brand promises first-rate customer service and adherence to the best lending practices.

Loan amount range: $50 to $1,000

Loan term: 4 to 31 days

APR: 547.5%

Min. credit score: N/A

Fees: $2 convenience fee for card deposit

Approval time: Almost instant

Funds available in: 1 to 2 business days (ACH); same day (card deposit)

Number of Idaho stores: Online only

Online application: Yes

24/7 open: No

Rapid Cash Logo

Rapid Cash

Hop Into Some Cash!

Rapid Cash is a subsidiary of one of the biggest names in this industry - Speedy Cash. They currently have storefronts in 12 states spanning the entire country. Furthermore, this lender offers online payday loans as well. As a member of the Online Lenders Alliance, this vendor ensures fair treatment and adherence to a code of conduct.

Loan amount range: $100-$300

Loan term: 31 days

APR: 153%

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Within 24 business hours

Number of Oregon stores: Three

Online application: Yes

24/7 open: No

CashNetUSA Logo

CashNetUSA

With CashNetUSA, money’s on the way!

If you’re looking for a well-established company with long traditions and excellent reviews, then look no further. CashNetUSA has been in business since 2004, and they’ve partnered with more than four million customers across 18 states. They offer one of the best-rated payday loans in the industry.

Available in: AL, AK, CA, FL, HI, ME, MI, MN, NV, ND, OH, OK, OR, SD, TN, TX, WY

Loan amount: $100-$1,500 for first-time customers (some states have a lower cap)

Loan term: 14-35 days

APR: Depends on the loan term (208-520%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same business day if approved

Online application: Yes

ACE Cash Express Logo

ACE Cash Express

Empowering your financial success since 1968

ACE Cash Express was established in 1968 making them a household name in their niche. This company offers reliable online payday loans as well as in-store loans. Speaking of which, they run over 920 stores in 13 states. School of Ace is an interesting feature on their website that aims to help you manage your finances better.

Available in: CA, FL, ID, IN, KS, LA, MN, MO, OR, SC, TN, TX, VA

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 9-35 days

APR: Depends on the loan term (231-661%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Oregon Payday Loan Laws

Payday loans in Oregon were practically unregulated until 2007. During this “wild west” era, there were no limits to fees, loan terms, or the number of rollovers. Things changed drastically in 2007 when the state introduced rate-limiting legislation. Oregon payday loan laws required lenders to:

These drastic changes led to a major decline in the number of payday lenders. However, the ones that remained operate under standardized rules, applicable to all licensed lenders. Unlicensed Oregon payday loans providers might offer different terms, so keep an eye out.

Payday Loan Requirements in Oregon

Bad Credit Payday Loans in Oregon

The bulk of payday loan providers encourage borrowers with a bad credit score to apply, making payday loans easily obtainable.

Failing to Repay a Payday Loan in Oregon

There are many misconceptions associated with defaulting on a payday loan. We would like to debunk all the urban legends and set the record straight. First and foremost, failing to repay the loan is not a criminal offense, and you cannot go to jail. Conversely, filing a civil lawsuit is legal, and an NSF (non-sufficient funds) fee of $20 in addition to other fees might be charged.

Reviews of the Best Payday Loans in Oregon

Check into Cash

If you’re in the market for a well-reviewed company with decades of experience, then Check into Cash is the place to be. They are an honest lender that offers a streamlined application process. Check into Cash is a co-founder of the CFSA (trade organization for payday advance best practices), which only bolsters their credibility. This brand has been licensed by the Department of Consumer and Business services since 2005.

Pros

Cons

Lending Offer Overview

Nowadays, there isn’t much variance in payday loans in Oregon. They were all made uniform in 2007 and haven’t changed since. Check into Cash offers the same APR (153%) regardless of the loan term. This includes an interest rate of 36% and a fee of $13 per $100 borrowed. The loan terms are standardized as well. They start from a minimum of 31 days ranging to a 60-day limit, with two rollovers. After the two renewals, customers need to repay the full loan in one go. However, if this is impossible, a payment plan may be arranged. The principal amount (with added fees) will be withdrawn directly from your checking account on the due date. NSF fees will be charged in case your check or ACH bounces. This is a one-time payment of $22.5.

Other Features

Check into Cash is one of the few companies that offer licensed online payday loans in Oregon. All you have to do is complete an online application, which shouldn’t take more than five minutes of your time. The entire process becomes even handier with the inclusion of Check into Cash mobile app. It is an excellent tool that helps you manage your account and loan on the go. This brand’s excellent customer support is another plus.

Quik Check

Quik Check is the only small local brand on our list of top payday loans in Oregon. Don’t let this dissuade you; their offer is the same if not better than what most nationwide lenders provide. Their mission is to help you when times are tough, and they’ll treat you as they would a family member. If you’re the kind of person who wholeheartedly supports a family-owned business, then Quik Check is the right option for you.

Pros

Cons

Lending Offer Overview

Quik Check is a mom-and-pop store with an offer that matches even the industry giants, outshining them in some areas as well. Namely, they are the only brand that offers Oregon payday loans north of $300. To be exact, the amount you can borrow ranges from $100 to $1000, which is more than double than their competitors allow. Terms and fees are standardized, so there isn’t much room for variance. The APR ranges from 90% to 153% and includes the 10% setup fee (capped at $30) and the 36% interest rate. Borrowers have between 31 and 35 days to repay their loan, with the possibility of extending it up to 60 days. Under state regulations, customers are allowed to rollover their loan twice. After the second renewal, the borrower must reimburse the full amount. If you’re unable to repay the loan in full, a payment plan may be arranged.

Other Features

This brand is among the few remaining providers that offer both in-store and online payday loans in Oregon. Both types of loans are easy to acquire, and you can fill out an application in a matter of minutes. What is also interesting about this brand is that they offer partial payments. Customers can make these deposits in increments of as little as $5 without incurring additional charges. One of the advantages of borrowing from a small business is that they take special care of their customer. They’d like you to feel like a part of their family, and customer satisfaction is their primary concern.

Rapid Cash

Being a subsidiary of one of the best online payday loans brands in the country certainly has its perks. Rapid Cash operates as a sister company to Speedy Cash, and they have been in business since 1997. They offer both in-store and online payday loans in Oregon. Going to a storefront is advisable if you’re in a hurry since the funds will be available on the spot. Rapid Cash has been licensed by the Department of Consumer and Business services since 2018.

Pros

Cons

Lending Offer Overview

Every lender that wishes to do business in Oregon has to observe the same regulations, and Rapid Cash is no exception. Their APR is capped at 153%, which covers the origination fee of up to $30 and the 36% interested rate. Repayment terms vary from 31 to 60 days, and Rapid Cash allows two rollovers. Oregon payday loan laws require the borrower to repay the debt in full on the due date or after the rollovers have been exhausted. If a customer cannot provide full reimbursement of funds, the lender might offer a repayment plan. Keep in mind, though, that the lender isn’t legally bound to offer it. You will also incur additional charges if your check is invalid. This returned check charge can be applied only once, and it totals $20.

Other Features

Rapid Cash is the second brand on our list that offers in-store Oregon payday loans as well as their online counterparts. Both have their pros and cons — going to a storefront requires more time, but you get the money in less than 20 minutes. Conversely, you’ll have to wait up to 24 business hours if you submit an online application, but you’ll save on commute time. Rapid Cash offers a mobile app (available on Android and iOS), which helps you manage your loan and account on the move. If you ever need assistance, you can get in touch with their impressive customer support by phone or email.

CashNetUsa

CashNetUSA is an accomplished company with a tried and tested track record, which makes them a top alternative for getting payday loans in Oregon. They’ve been making a name for themselves since 2004. However, it took them 11 years before they became licensed in the Beaver State. Their customers enjoy multiple benefits such as discount coupons, financial education courses, and a financial assistance tool. CashNetUSA has been licensed by the Department of Consumer and Business services since 2015.

Pros

Cons

Lending Offer Overview

CashNetUSA is a brand that grants payday loans online in Oregon. However, they operate under the same regulations as their brick-and-mortar competitors. The APR ranges from 140% to 153%, depending on the loan term. Business as usual, APR includes the 36% interest fee and 10% origination fee (capped at $30). Usually, there is little variance in repayment terms, as they range from 31 days to 35 days. However, the upper limit is two months (60 days). All the lenders in Oregon, present company included, allow for two rollovers, after which the full amount must be repaid. On the off chance you’re unable to cover the full loan, an installment option might be on the cards. However, lenders aren’t legally obliged to offer it. A one-time NSF fee amounting to $20 will be charged if your check is dishonored.

Other Features

An online payday loan with funds available during the same business day is a rare sight, but CashNetUSA made it possible. The application process is very straightforward, and you’ll receive an almost instant decision. This brand uses alternative means of checking your credit, so it won’t affect your FICO® score. CashNetUSA wouldn’t be on this list of the best online payday loans in Oregon if they didn’t have something special to offer. They allow access to their free financial courses and tools, even after a customer has paid off their loan.

ACECashExpress

ACECashExpress is a clear winner in terms of convenience. They have 24 stores in all the major cities in Oregon. Since the regulations are almost identical among the competition, their availability clearly sets them apart. However, online payday loans aren’t on the menu. ACECashExpress has been licensed by the Department of Consumer and Business services since 2017.

Pros

Cons

Lending Offer Overview

ACE is the most readily available in-store payday lender in the state, but the lack of online payday loans in Oregon hurts borrowers’ convenience. Customers can borrow between $100 and $300 in one of their 24 storefronts found state-wide. The interest rate and fees are in line with the competition. APR is fixed at 153%; it includes the 36% interest rate and the upfront charge amounting to 10% of the loan or $30, whichever is less. The minimum repayment term is 31 days and can be extended to 60 days. Customers are allowed to rollover their loan twice. The vendor offers a 72-hour satisfaction guarantee, meaning that you can change your mind in that time frame and just return the principal amount.

Other Features

ACE offers a time-saving application process that can be completed in the blink of an eye. Best of all, the approval time is almost instant. Smartphone apps are all the rage nowadays, and ACECashExpress offers a couple of those, enabling you to manage your loans and access your account on the go.

Unlicensed Payday Loans in Oregon — a Cautionary Tale

Unlicensed lenders aren’t a common occurrence in Oregon. However, they do exist. Sometimes, when the going gets tough, people forget to inquire about licenses, and that’s the moment trouble starts. Oregonians can file a complaint against these illegal lenders, but getting out of those debt traps is no easy task. We present to you a few cautionary stories so that you can spot any red flags when browsing for payday loans in Oregon.

Fee Overcharge

This person took a loan for $300, and they had a $90 fee deducted bi-weekly, totaling $1,440 paid. The silver lining is that they managed to put a “hard stop” payment for any further ACH deductions since they’ve paid the loan nearly three times over.

In Oregon, rates are limited to $30, and this law applies to every lender.

False Statements

In this case, the victim borrowed $400 from an unlicensed Oregon payday loans provider, and in four months, their checking account was debited four times. At that time, they paid $745 on a $400 loan while still owning $390. The scammer said they were regulated by the General Agreement of the Tariff and Trade (G.A.T.T), meaning they didn’t have to uphold the state laws, only federal ones.

The G.A.T.T. statement is deceitful. However, it is frequently used by unlicensed payday lenders.

Over the top APR

The wronged party procured a $300 loan from a lender on Money Mutual. They have paid $1,295 for a $300 loan. The scammer is ghosting the victim. However, they continue to make withdrawals every month.

Borrowers should know that the APR for payday loans in Oregon is limited to 153%, and the maximum loan length is 60 days.

It is essential to remember that all lenders in Oregon have to be licensed. Spare (yourself the headache) a few minutes and ask about the license before signing the loan.

Conclusion

Oregon payday loan laws are extremely strict, which dissuades many lenders from obtaining a license. However, the ones that do offer their services are truly a cut above the rest. With the abundance of information at your fingertips, you’ll undoubtedly be able to make the best choice for yourself. We hope you gained some insight into Beaver State’s lending scene with our top five payday loans in Oregon. Good hunting.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

QuikCheck

CheckintoCashLicense

LoanHistoryOregon

CashNetUSA

RapidCash

CheckIntoCash

CashNetUsaLicense

ACECashExpress

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NerdWallet

DebtCollection

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LawsinOregon

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