Payday Loans in San Rafael, New Mexico

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No payday loan companies in San Rafael, NM. Consider companies in other cities:

Company nameAddressZip codePhone number
First American Bank 1609 N Main St, Silver City, NM 88062 +1 (575) 534 - 0550
Payment 1 Financial 104 E Broadway St, Hobbs, NM 88240 +1 (575) 391 - 0280
FastBucks 1432 Cerrillos Rd, Santa Fe, NM 87505 +1 (505) 983 - 2274
FastBucks 1010 Mills Ave, Las Vegas, NM 87701 +1 (505) 425 - 6074
Title Cash 2604 E Main St, Farmington, NM 87401 +1 (505) 564 - 9400
Midwest Finance 2 1275 Anthony Dr ste c-7, Anthony, NM 88021 +1 (575) 201 - 5396
New Mexico Bank & Trust 1475 Central Ave, Los Alamos, NM 87544 +1 (505) 663 - 3800
Hillcrest Bank - ATM Allsup's 507 Paseo Del Pueblo Norte, Taos, NM 87571 +1 (855) 629 - 7618
Otero Federal Credit Union 211 US Hwy 70 W, Ruidoso, NM 88345 +1 (575) 378 - 0020
New Mexico Educational Assistance Foundation 7400 Tiburon St NE suite f, Albuquerque, NM 87109 +1 (505) 345 - 3371

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in San Rafael, NM, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Hobbs, NM, Guaranteed Loans in Las Cruces, NM, Guaranteed Loans in Rio Rancho, NM, Short-term Loans in Roswell, NM, Same Day Loans in Santa Fe, NM, Same Day Loans in Alamogordo, NM, Payday Loans in Albuquerque, NM and Payday Loan for Clovis, 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 San Rafael, NM.

Payday Loans Available in San Rafael, NM By The Following ZIP Codes:

87051

Are Payday Loans Legal In San Rafael, 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

San Rafael, NM payday loan calculator

Understanding Payday Loans in San Rafael, New Mexico

Payday loans are short-term loans that provide cash advances to individuals who need immediate access to money. These loans are typically provided to people with poor credit or who need cash quickly due to unexpected expenses such as medical emergencies, car repairs, or home repairs.

How do payday loans work?

Payday loans are often used by individuals who need cash quickly and do not have access to traditional bank loans. These loans are typically provided by lenders who specialize in providing payday loans. To apply for a payday loan, borrowers must provide proof of income, a valid identification card, and a checking account.

The borrower typically writes a postdated check for the amount of the loan plus interest and fees. The lender will then provide the borrower with cash, and the borrower has until the due date to pay back the loan. If the borrower is unable to pay the loan back on time, the lender will cash the postdated check, and the borrower will be charged additional fees.

Are payday loans legal in New Mexico?

Yes, payday loans are legal in New Mexico. Payday loans are regulated by the state’s regulation and licensing department, and lenders must comply with New Mexico’s lending laws.

What are the fees and interest rates for payday loans in San Rafael, New Mexico?

The fees and interest rates for payday loans in San Rafael, New Mexico vary depending on the lender. The state of New Mexico caps the interest rate on payday loans at 404%. Lenders can charge up to $15.50 per $100 borrowed, with a maximum loan amount of $2,500.

Are there any alternatives to payday loans in San Rafael, New Mexico?

Yes, there are alternatives to payday loans in San Rafael, New Mexico. These include:

  • Personal loans: Personal loans from banks and credit unions often have lower interest rates than payday loans.
  • Credit cards: Credit cards can be used to pay for unexpected expenses and often have lower interest rates than payday loans.
  • Assistance programs: There are state and local assistance programs that can provide financial assistance to individuals who need help with unexpected expenses.

Facts and Statistics about Payday Loans in San Rafael, New Mexico

According to the New Mexico Regulation and Licensing Department, there were 309 licensed payday lenders in the state of New Mexico as of April, 2021. The average payday loan in New Mexico is $275, and the average APR for a payday loan in New Mexico is 408%. The state of New Mexico allows borrowers to take out two payday loans at one time, with a total amount not exceeding $2,500.

Apply Now for a Payday Loan in San Rafael, New Mexico

If you are currently in need of a payday loan in San Rafael, New Mexico, TheGuaranteedLoans can help. As a connector service, we help connect borrowers in San Rafael with potential lenders who may be able to provide the cash they need.

To get started, visit our website and fill out our online application. We will then match you with lenders who may be able to provide you with a loan that meets your needs. Remember, TheGuaranteedLoans is not a direct lender—we are a connector service that can help you find the right lender for your needs.

F.A.Q.

Can payday lenders in New Mexico collect on unpaid loans by garnishing wages or levying bank accounts?

Yes, payday lenders in New Mexico can collect on unpaid loans by garnishing wages or levying bank accounts, but only if the borrower has given written consent.

Are there any consumer protection laws in New Mexico that apply to payday loans?

Yes, payday lenders in New Mexico are subject to several consumer protection laws, including the New Mexico Small Loan Act and the New Mexico Unfair Practices Act. These laws provide protections for borrowers, such as limitations on fees and interest rates, and requirements for clear disclosure of loan terms.