From the rugged coastline of Cannon Beach to the breathtaking landscapes of Crater Lake, Oregon’s natural beauty is matched only by its commitment to consumer protection. Short-term loans in Oregon are regulated under state law, which caps fees and interest rates to protect consumers. These rules make payday-style lending less expensive than in states without restrictions, although borrowers should still review all terms carefully.
Short-Term Personal Loan Rates and Fees in Oregon
Oregon’s payday loan laws limit the total amount of fees and interest lenders can charge. While these regulations help control costs, it’s wise to compare different lenders and confirm you can manage the repayment schedule before signing a loan agreement.
APRs
State law caps the interest rate at 36% APR for payday-style loans, in addition to a one-time fee of $10 per $100 borrowed.
Loan Amounts
Oregon does not explicitly set a fixed dollar cap for payday or short-term loans in its statute. However, the amount you can borrow is limited by your monthly net income. A lender cannot issue a loan exceeding 25% of your net monthly pay. This ensures you don’t take on an unaffordable obligation.
Terms
The minimum term for a payday-style loan in Oregon is 31 days. Some lenders may offer slightly longer terms, which can spread out repayment and make it easier to handle.
Fees
Alongside the 36% interest cap, payday lenders in Oregon can charge up to $10 per $100 borrowed as an origination fee. For instance, if you take out a $300 loan, the lender may charge up to $30 in fees plus interest. Be sure you understand these charges before accepting the loan.
Short-Term Loan Example
Imagine a $400 payday-style loan with a 31-day term:
- Loan Amount: $400
- Interest: 36% APR (applied over roughly one month)
- Fee: $10 per $100 borrowed = $40
- Total Repayment: $452 (Principal + interest + $40 fee)
Lending Regulations in Oregon
The Oregon Division of Financial Regulation enforces rules on payday and short-term loans. These laws help borrowers avoid cycles of debt, ensure clear disclosures, and limit excessive fees. For detailed information, visit the Oregon Division of Financial Regulation.
| Regulation | Details |
|---|---|
| APR Cap | 36% |
| Term Length | Minimum 31 days |
| Maximum Loan Amount | Cannot exceed 25% of your net monthly income |
| Fees | $10 per $100 borrowed |
| Oversight | Oregon Division of Financial Regulation |
Our Benefits
A Platform, Not a Lender
We don’t issue loans. Instead, we connect Oregon borrowers with lenders operating legally under the state’s guidelines. Compare various options and find a match that feels right for your budget.Convenient Online Process
From Portland to Salem and Eugene to Bend, it’s easy to request a short-term loan online. Avoid time-consuming paperwork and get quick feedback from lenders in our network.Diverse Lender Network in Oregon
We work with lenders that follow Oregon law. See different rates, fees, and repayment schedules, then choose a loan that makes sense for your finances.Your Decision
We simply show you possible loans—accepting one is up to you. Always read disclosures, confirm total costs, and ensure the repayment timeline fits your paycheck schedule.Data Security
We use secure technology to protect your personal and financial information. Submit your request confidently, knowing your details are handled responsibly.What Our Clients Say
Here are some testimonials from customers about their experiences with BuddyLoans:
How to Apply for a Short-Term Loan in Oregon
If you qualify, you could receive funds as soon as the next business day.
Share Basic Info
Submit our short online form with the amount you need, your income details, and essential personal information.We Match You with Lenders
We scan our network of state-compliant lenders to find potential offers that fit your request.Choose an Offer & Get Funded
Review the lender’s terms. If you accept and meet their requirements, funds can be deposited directly into your checking account.Loan Alternatives in Oregon
Emergency Loans
Emergency loans provide quick funding in urgent circumstances, sometimes with a smoother approval process.
Personal Loans
Personal loans can offer higher amounts and longer repayment terms, potentially with more favorable APRs than short-term options.
Installment Loans
Installment loans spread the cost of borrowing across multiple payments, helping you manage your monthly budget more comfortably.
Bad Credit Loans
Bad credit loans help borrowers with lower credit scores obtain funds. Repaying on time can also support credit rebuilding efforts.
FAQ
Are Short-Term Loans Legal in Oregon?
Yes. Oregon allows payday-style loans under strict conditions. Lenders must be licensed and follow the 36% APR limit plus a $10 fee per $100 borrowed.
What Are the Requirements to Apply for a Short-Term Loan in Oregon?
Typical requirements include:
- At least 18 years of age
- U.S. citizenship or permanent state residency
- Valid Social Security number
- Verifiable, regular income
- An active bank account
What Are the Top 5 Cities for Short-Term Loans in Oregon?
Short-term loans are accessible online throughout the state. Major cities often have more storefront lenders:
- Portland
- Eugene
- Salem
- Gresham
- Hillsboro
However, many lenders operate fully online, so you can apply wherever you live in Oregon.
How Does Oregon Compare to Other States’ Short-Term Loan Laws?
Oregon enforces a 36% APR cap plus a $10 fee per $100 borrowed, which is more restrictive than states with no rate limits. This structure reduces the risk of snowballing debt for borrowers.
Is a Short-Term Loan the Same as a Cash Advance?
Cash advances often refer to credit card transactions or paycheck advances from employers. Oregon’s short-term loans involve licensed lenders following state guidelines on fees and interest.
Are Guaranteed Short-Term Loans Available in Oregon?
No. Reputable lenders evaluate your financial details before approval. Avoid “guaranteed” offers that don’t verify eligibility.