Payday Loans in Oregon

Yes, Oregon allows payday loans from licensed lenders, on its own terms: at least 31 days, 36% a year in interest and a one-time origination fee of 10%, up to $30. A $300 loan costs no more than $39.17 over 31 days.

What $100, $200 and $300 Cost Over 31 to 60 Days

Worked out from Oregon's limits as DFR states them, not offers from lenders in our network; a lender can charge less. Cost is the fee plus interest, with the APR in brackets.

The fee is 10% of the loan, so the APR is the same at any amount up to $300; a longer term lowers it because the fee is spread over more days. DFR puts the maximum APR at 153.77%. Above $300 the fee stays at $30.

Renewals, Up-Front Fees and Other Oregon Limits

• Two renewals at most. After that, you must repay the loan and interest in full.
• One fee. The origination fee is a one-time charge on a new loan; beyond it, DFR lists only interest of up to 36% a year.
• No up-front fees. DFR says Oregon law prohibits them, so never pay one by prepaid, debit or credit card.
• A written agreement. It must explain the fees, rate, due dates and what happens if you pay late or default.

DFR also warns against any lender that wants your bank details or Social Security number just to show its fees, or asks you to give up your legal rights or allow wage garnishment.

Who Still Makes Payday Loans in Oregon

Few lenders hold an Oregon payday license. DFR's list names 7 storefront lenders, in Portland, Eugene, Hermiston, Klamath Falls and Medford plus one chain with several locations, and 5 online lenders. Some stores also make title loans; no online title lender is licensed.

Banks and credit unions can make payday loans without an Oregon license, and DFR suggests asking yours first. Oregon's tribes aren't involved in payday lending. Need longer than 60 days? See Oregon loan options for installment loans at 36% APR or less.

Your Oregon Payday Request, Step by Step

1. Have your ID, proof of income and bank account details ready, and pick a repayment date 31 to 60 days out.
2. Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
3. Check the offer: a term of at least 31 days, a fee of no more than 10% or $30, interest of 36% a year or less, and nothing to pay up front.

Is the Lender on DFR's Payday List?

1. Open DFR's list and find the company: stores by name and address, online lenders by name and website.
2. Confirm an active Oregon license in NMLS Consumer Access.
3. Match the name on the license to your loan agreement.

Not on the list? DFR says don't borrow from it. Report it with DFR's online complaint form or at 888-877-4894 toll-free.

Common Questions

Official Sources

← Oregon loan rules