Payday Loans Beaverton OR

Secure quick cash in Beaverton, Oregon, through zaving's online application process for payday loans.

Last updated by Zaving Editorial Team, on April 15th, 2024

If you're in Beaverton, zaving provides payday loans with a convenient online platform. Access quick funds and experience a seamless application process. Get started today with zaving!

What are payday loans and can I get them in Beaverton, OR?

Payday loans, serving as short-term financial solutions, are accessible to residents of Beaverton, Oregon, facing immediate financial challenges. These loans are typically designed to cover urgent expenses until the borrower's next payday.

To qualify for payday loans in Beaverton, applicants must meet specific eligibility criteria:

  • Age: Applicants must be at least 18 years old to qualify for a payday loan.
  • Proof of income: Lenders generally require documentation verifying a regular income source, such as pay stubs or bank statements.
  • Identification: A valid government-issued photo ID is essential for identity verification during the application process.
  • Bank account: Having an active checking account may be necessary, as lenders often deposit approved funds directly into the borrower's account and may facilitate automatic repayment.
  • Residency: To qualify for payday loans in Beaverton, applicants must be residents of Oregon and either U.S. citizens or permanent residents.

While payday loans offer a swift financial remedy, potential borrowers in Beaverton should carefully review the loan terms, fees, and repayment conditions before proceeding. It's important to understand that payday loans often come with high-interest rates and fees.

What are the rules for payday loans in Oregon?

Oregon's regulatory framework for payday loans prioritizes consumer protection and responsible lending.

Key aspects of these regulations include:

  • Maximum loan amount: Residents in Oregon can access payday loans up to $50,000 or 25% of their net monthly income for those with annual earnings below $60,000.
  • Loan term: Payday loans in Oregon are required to have a minimum term of 31 days, with a maximum term of 60 days.
  • Maximum finance rate and fees: Lenders are permitted to charge a maximum annual percentage rate (APR) of 36%. Additionally, a one-time origination fee is allowed, capped at $30, calculated at $10 per $100 borrowed.
  • Finance charge for 31-day $100 loan: The finance charge for a 31-day loan with a $100 principal is $13.
  • Rollovers: Oregon residents benefit from up to two renewals per loan, providing flexibility in the repayment process.

These regulations exemplify the commitment to fostering fair and transparent practices within the payday lending sector.

What are the pros and cons of payday loans in Beaverton?

If you are considering a payday loan in Beaverton, Oregon, it's crucial to evaluate the potential advantages and disadvantages of this financial option.


  • Quick access to funds: Payday loans in Beaverton offer a speedy application and approval process, ensuring residents can swiftly access funds during urgent situations.

  • Potential for larger amounts: Compared to other states with lower maximum loan amounts, Oregon allows borrowers in Beaverton to potentially access larger sums, up to $50,000 or 25% of their monthly income. This flexibility can be beneficial for covering substantial expenses or consolidating debt.

  • Rollover flexibility: The allowance for up to two renewals per loan provides borrowers in Beaverton with flexibility in managing their repayment, potentially easing financial strain during unexpected challenges.

  • Regulated APR: While still relatively high, the 36% APR cap in Beaverton could be lower than rates charged by lenders in states without caps, depending on individual lender practices.


  • High cost of borrowing: Despite regulations, the overall cost of payday loans in Beaverton, including fees and interest, remains considerably high compared to other forms of credit.

  • Limited lender availability: Depending on your location in Beaverton and financial situation, finding a reputable payday lender adhering to Oregon's regulations might pose a challenge.

  • Short loan terms: Payday loans in Beaverton have a maximum term of 60 days, which may be restrictive for some borrowers needing a longer repayment period.

  • Potential for debt cycle: Despite regulations, the structure of payday loans may lead some Beaverton borrowers into a cycle of debt, especially if they face challenges repaying within the short timeframe.

More of your frequently asked questions about payday loans in Oregon

Do payday loans in Oregon have a cooling-off period?

Yes, Oregon law includes a 7-day cooling-off period, during which consumers cannot obtain another payday loan immediately after fully repaying a previous one. This waiting period introduces a brief pause between loan cycles, allowing borrowers to reevaluate their financial standing and prevent the onset of continuous debt accumulation.

What happens if I can't repay my payday loan in Oregon?

Facing difficulties repaying your payday loan in Oregon may result in various consequences. If the repayment check doesn't clear, the lender may impose a $20 Non-Sufficient Funds (NSF) fee, and legal actions may be taken. Communicating promptly with your lender is vital if you're experiencing challenges repaying your payday loan, as discussing your situation may open up potential alternatives or the option to establish a repayment plan. Seeking assistance from financial counselors or exploring local resources can also be beneficial for those struggling with payday loan repayment.

Can I get a payday loan in Oregon with bad credit?

Yes, securing a payday loan in Oregon with bad credit is an option. Payday lenders typically emphasize factors like income and repayment capability rather than traditional credit checks. Keep in mind the potential drawbacks, including high fees and interest rates. Thoroughly review the terms to assess whether a payday loan aligns with your financial situation.

What are some alternatives to payday loans in Oregon?

In Oregon, those looking for alternatives to payday loans have several options. Negotiating flexible repayment plans with creditors, exploring personal loans from banks or credit unions with potentially lower interest rates, and seeking assistance from community development financial institutions providing responsible options are all viable paths. Additionally, non-profit credit counseling agencies can offer valuable guidance, while state assistance programs may provide emergency aid or weatherization support. It is essential to research and compare terms carefully before making any financial decisions.