Payday Loans in Cochiti Lake, New Mexico

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No payday loan companies in Cochiti Lake, NM. Consider companies in other cities:

Company nameAddressZip codePhone number
New Mexico Title Loans, Inc. 2418 Southern Blvd SE, Rio Rancho, NM 87124 +1 (505) 896 - 0022
Wells Fargo Bank 901 Rte 66, Moriarty, NM 87035 +1 (505) 832 - 4436
Wells Fargo Bank 503 NM-333, Tijeras, NM 87059 +1 (505) 286 - 6184
Sandia Area Federal Credit Union 4001 Office Ct Dr 504, Santa Fe, NM 87507 +1 (505) 292 - 6343
First National Bank 1247 S 2nd St, Raton, NM 87740 +1 (575) 445 - 7123
Security Finance 5 George Ct b, Edgewood, NM 87015 +1 (505) 281 - 9222
World Finance Corporation 123 N Main St, Roswell, NM 88203 +1 (575) 623 - 3616
B C Financial -B, 1052 Main St NE, Los Lunas, NM 87031 +1 (505) 866 - 1905
Sun Loan Company 201 S Main St, Belen, NM 87002 +1 (505) 861 - 1132
Los Alamos National Bank 1200 Trinity Dr, Los Alamos, NM 87544 +1 (505) 662 - 5171

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cochiti Lake, NM, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Albuquerque, NM, Payday Loans in Clovis, NM, Payday Loans in Farmington, NM, Short-term Loans in Hobbs, NM, Payday Loans in Las Cruces, NM, Payday Loans in Rio Rancho, NM, Payday Loans in Roswell, NM and Payday Loans in Santa Fe, NM. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Cochiti Lake, NM.

Beautiful sights of Cochiti Lake, NM

Payday Loans Available in Cochiti Lake, NM By The Following ZIP Codes:

87083

Are Payday Loans Legal In Cochiti Lake, New Mexico?

Loan Rates and Fees, Laws and Regulations in New Mexico.

New Mexico Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)Not specified
Maximum Loan AmountNot specified
Minimum Loan TermNot specified
Maximum Loan TermNot specified
Number of Rollovers AllowedNot specified
Finance Charges

Cochiti Lake, NM payday loan calculator

Understanding Payday Loans in Cochiti Lake, New Mexico

Payday loans are a popular form of short-term lending for people who are in need of quick cash. These loans are intended to be repaid in full on the borrower’s next payday. In New Mexico, payday loans are legal, and many borrowers find them to be a convenient way to get access to money in times of need.

How Payday Loans Work

Payday loans are typically small-dollar loans. In Cochiti Lake, New Mexico, the maximum amount that can be borrowed is $2,500. Borrowers can apply for a payday loan in person at a store or online. To apply for a payday loan, borrowers will need to provide proof of income and a checking account. The lender will also require the borrower to sign a loan agreement that outlines the terms of the loan, including the interest rate, fees, and repayment schedule.

After the loan is approved, the borrower will receive the funds in their bank account. When the loan is due, the lender will automatically deduct the amount owed from the borrower’s bank account.

Benefits of Payday Loans

One of the key benefits of payday loans is that they are quick and easy to obtain. Unlike traditional loans, which may take days or weeks to process, payday loans can be approved in as little as 15 minutes. This makes them an attractive option for people who need cash quickly to cover unexpected expenses, such as car repairs or medical bills.

Another benefit of payday loans is that they do not require a credit check. This means that people with poor or limited credit history can still qualify for a loan.

Risks of Payday Loans

While payday loans can be a convenient way to access cash quickly, they come with significant risks. The interest rates on payday loans are typically much higher than those of traditional loans, which can leave borrowers in a cycle of debt. Additionally, if a borrower is unable to repay the loan on time, they may be hit with additional fees and penalties.

It is essential that borrowers carefully consider the risks and benefits of payday loans before they apply. Borrowers should ensure that they fully understand the terms of the loan agreement, including the interest rate, fees, and repayment schedule.

Interesting Facts and Statistics about Payday Loans in Cochiti Lake, New Mexico

  • In New Mexico, the average payday loan is for $350.
  • According to a study by the Center for Responsible Lending, the average annual percentage rate (APR) for a payday loan in New Mexico is 175%.
  • In 2019, there were over 150 licensed payday lenders operating in New Mexico.
  • The maximum amount that can be borrowed through a payday loan in New Mexico is $2,500.

Apply Now

At TheGuaranteedLoans, we help connect borrowers with potential lenders who offer payday loans in Cochiti Lake, New Mexico. We are not a direct lender, but instead work as a connector service to help borrowers find the best loan options available.

If you are interested in applying for a payday loan, please fill out our online application form. Our application process is quick and easy and takes just a few minutes to complete. Once we receive your application, we will work to connect you with a lender who can offer you a loan that meets your needs.

Please note that payday loans should only be used for short-term financial needs and should be repaid in full on your next payday. Borrowers should carefully consider the risks and benefits of payday loans before they apply.

Get started today by filling out our online application form!

Disclaimer: TheGuaranteedLoans is not a lender and does not make loans or credit decisions. TheGuaranteedLoans provides a loan-matching service that connects borrowers with potential lenders. Loan terms, including the APR and fees, vary by lender and state. Borrowers are responsible for understanding the terms and conditions of any loan they may receive.

F.A.Q.

Are there any alternative forms of credit available to residents of New Mexico?

Yes, there are several alternative forms of credit available to residents of New Mexico, including credit unions, community development financial institutions, and small-dollar loan programs. Borrowers should compare the terms and fees of these options before deciding on a lender.

Are there any requirements for payday lenders in New Mexico to be licensed?

Yes, payday lenders in New Mexico are required to be licensed with the New Mexico Financial Institutions Division.