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Best Payday Loans in Portland, Oregon

by Sandi Pope ConsumerAffairs Research Team

If you need emergency cash and can’t wait until your next paycheck, a payday loan is an option. Payday loans are short-term, high-interest loans that are easy to qualify for. We researched the best payday loans in Portland so you find a licensed lender that offers a simple application process, clear terms and same-day funds.

Top 10 Portland Payday Loan Companies

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Portland skyline

According to the Federal Reserve System, only 4 in 10 Americans have enough cash to cover an unexpected expense, including car repairs or medical bills. If you live in Portland, need money to hold you over until your next paycheck and have exhausted lower-cost alternatives, consider a payday loan.

With a payday loan, also known as a paycheck advance or a payday advance, you write a lender a check for the amount of money you want to borrow plus fees (or give the lender authorization to electronically debit the money from your bank account). The lender gives you cash and you pay back the loan at the end of the loan term, which is between 31 and 60 days. But be careful: Use a payday loan in Portland only as a short-term financial strategy, and make sure the lender is licensed in Oregon.

Portland payday loan regulations

Payday lenders in Portland are regulated by city and Oregon laws. Here’s what to know:

  • A payday loan term must be at least 31 days and no longer than 60 days.
  • Lenders can charge a one-time 10% origination fee up to $30 for a new loan.
  • You can renew a payday loan up to two times, but you must pay an amount equal to at least 25% of the principal plus interest on the remaining balance. Afterward, the lender must allow you to enter into a payment plan that lasts a minimum of 60 days and includes three or more payments, with no penalty, fee or other charges.

The maximum interest rate on a payday loan in Portland is 36% annually. The maximum annual percentage rate (APR), which includes the origination fee, is 153.77%.

The chart below shows the maximum amount you will pay for a payday loan in Portland that is paid off in 31 days.

Loan amountOrigination fee and interestTotal cost of the loan
$100$13.06$113.06
$200$26.12$226.12
$500$45.29$545.29
$1,000$60.58$1,060.58

How to apply for a payday loan in Portland, OR

Depending on the Oregon payday lender, you can apply for a payday loan in person or online. It’s simple and fast, and you don’t need great credit. The requirements vary slightly from lender to lender, but in general, you need:

  • Valid ID
  • An open checking account
  • A valid phone number
  • Proof of steady income

Depending on the lender, you can apply in person or online. If you apply in person and are approved, you can walk out with cash immediately. If you’re approved for an online payday loan in Oregon, the funds may take one to two business days before the company deposits them electronically.

If you’re approved for a payday loan in Portland, the lender provides a written loan agreement, which you should read carefully. You have the right to cancel a payday loan by the close of the next business day after signing by returning only the principal.

Portland payday advance loan FAQ

What credit score is needed for a payday loan in Portland?
You don’t need a good credit score to qualify for a payday loan in Portland. Some lenders don’t even run a credit check. As long as you have a valid ID, an active checking account and a steady source of income, you are in a good position to qualify.
Can I get arrested for not paying back a payday loan in Portland?

No, you can’t be arrested for defaulting on a payday loan, according to the Consumer Financial Protection Bureau. If a payday lender in Portland threatens to have you arrested, alert the Oregon Department of Justice and the Division of Financial Regulation.

What are some alternatives to payday loans in Portland?
Alternatives to payday loans in Portland include:
  • Contacting creditors and asking for due date extensions or payment plans
  • Borrowing money from family or friends
  • Applying for a loan at a bank or credit union
  • Requesting a paycheck advance from your employer

Not sure how to choose?

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    Portland payday loan company information

    Quik Check

    Quik Check provides online payday loans to Portland residents. Most applications are processed within 24 hours, and you can pay off your loan early with no penalty. Funds are electronically deposited and debited from your bank account. Visit Quik Check’s website to start applying.

    • Address: Serves Portland residents
    • Phone: (541) 734-5555
    • Hours: Call for hours
    • Website: quikcheck.com
    CashCo

    CashCo provides Portland residents with payday loans and small installment loans. The company pays out up to $3,000 for installment loans. Customers get clear documentation on their loan amount, APR and payback term after their application has been approved. CashCo representatives help Portland-area customers understand the loan requirements before receiving their payday or installment loan. The company offers services in Spanish and English.

    • Address: 3420 SE Cesar Chavez Blvd., Portland, OR 97202
    • Phone: (541) 234-2274
    • Hours: M - F: 9am - 6pm
    • Website: cashcoloan.com
    McKenzie Communications Inc.

    McKenzie Communications offers payday loans and cash for gift cards. Oregon customers can receive cash the same day their application is approved. Customers must bring two recent pay stubs, a 30-day transaction printout from their checking account, a valid Oregon ID or ODL and a check. McKenzie representatives are committed to helping customers understand the company’s payback terms before they receive cash.

    • Address: 1704 W. Sixth Ave., Eugene, OR
    • Phone: (541) 302-1551
    • Hours: M - F: 10am - 6pm; Sat: 11am - 4pm
    • Website: mcispeedycash.business.site
    Cash & Go

    Cash & Go offers a variety of financial services, including payday loans, check cashing and money transfers. The company employs Spanish-speaking representatives. Cash & Go is open nights, weekends and holidays, and its representatives review and approve your application while you wait.

    • Address: 11055 SE Division St., Portland, OR
    • Phone: (503) 253-8868
    • Hours: Call for hours
    • Website: find.cashamerica.us
    Sawbucks Inc.

    Sawbucks Inc. guarantees that all payday loan applications are approved, even for people who are currently unemployed or have bad credit. Sawbucks representatives approve applications 24/7, and make money available one hour after customers complete their application form. Customers can begin their application online and request up to $1,000.

    • Address: 2311 S. Sixth St., Klamath Falls, OR
    • Phone: (541) 882-6898
    • Hours: M - F: 9am - 6pm; Sat: 10am - 4pm
    • Website: theguaranteedloans.com/oregon/payday-loans-in-klamath-falls/sawbucks-inc
    by Sandi Pope ConsumerAffairs Research Team

    Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.

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