Portales Personal Loan in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in New Mexico.

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New Mexico Portales

Eligibility Criteria for Personal Loans

  • Valid government-issued identification for identity verification.
  • Proof of residence, such as a utility bill or lease agreement, to establish current address.
  • Recent bank statement to demonstrate financial standing and ability to repay.
  • Active bank account where funds can be deposited and repayments can be made.
  • Employment verification or proof of steady income to ensure financial stability.
  • Completed application form with accurate personal and contact information.
  • Consent to a credit check, if applicable, to assess creditworthiness.

Trusted Personal Loan Lenders in Portales, NM

Discover our curated list of trusted personal loan lenders, committed to offering transparent and reliable financial solutions to empower you in achieving your personal and professional goals.

Lender
User Ratings
Address
Phone
Category
Graham Title Co.
User Raiting:
4.80
Address: 121 W 2nd St, Portales, NM 88130
Phone: +1 (575) 356-8505
Category: Financial institution
Wells Fargo Bank
User Raiting:
4.80
Address: 316 W 2nd St, Portales, NM 88130
Phone: +1 (575) 359-3600
Category: Bank
First Financial Credit Union - Portales
User Raiting:
4.40
Address: 700 W 2nd St, Portales, NM 88130
Phone: +1 (575) 356-5530
Category: Credit union
U.S. Bank Branch
User Raiting:
3.30
Address: 400 W 1st St, Portales, NM 88130
Phone: +1 (575) 359-1256
Category: Bank
New Mexico Bank & Trust
User Raiting:
3.30
Address: 1612 E Spruce St, Portales, NM 88130
Phone: +1 (575) 356-1060
Category: Bank

What Are the Alternatives for Short-term Loans in Portales?

Discover safer, affordable financial solutions as alternatives to payday loans. Explore community programs, credit unions, and microloans designed to support your long-term financial well-being.

Installment Loans

Quick installment loans provide a lump sum that borrowers repay over time, with fixed monthly payments, making budgeting easier.

Guaranteed Cash Loans

Guaranteed cash loans offer immediate access to money, typically without stringent eligibility criteria, bridging financial gaps instantly.

Title Loans No Credit Check

Title loans require vehicle title as collateral, allowing borrowing without a credit check, suitable for urgent needs.

Emergency Loan

Fast emergency loans deliver immediate financial relief during unforeseen crises, covering urgent expenses with speed.

Payday Loans Online

Payday loans online provide short-term, small-dollar funding, accessible via the internet, for unexpected costs before payday.

Instant P2P Loans

Instant P2P loans connect borrowers with lenders directly on online platforms, offering flexible terms and competitive rates.

Debt Consolidation Loans

Online debt consolidation loans combine multiple debts into a single loan, simplifying repayments and often reducing interest rates.

Bad Credit Loans

Bad credit loans cater to individuals with poor credit scores, offering financial assistance despite credit challenges.

How to Use Personal Loans - Useful Resources

Explore our comprehensive guide on effectively managing personal loans with useful resources, tips, and strategies aimed at fostering financial confidence and informed decision-making for improved financial health.

Industry
Address
Phone
Car Repair and Service
Address: 322 North Main Avenue, Portales, NM 88130
Phone: +1 (575) 359-1531
Car Wash
Address: 714 East 2nd Street, Portales, NM 88130
Phone: +1 (575) 356-4440
College/University
Address: 1500 South Avenue E, Portales, NM 88130
Phone: +1 (575) 562-2710
Dentist
Address: 123 West 2nd Street, Portales, NM 88130
Phone: +1 (575) 268-0007
Fitness Club & Center
Address: 1608 East Spruce Street, Portales, NM 88130
Phone: +1 (575) 359-7100
Government Office
Address: South Knoxville Street, Portales, NM 88130
Phone: +1 (575) 356-7015
Hardware Store
Address: 701 South Avenue C, Portales, NM 88130
Phone: +1 (575) 356-2729
Hotel
Address: 223 West 2nd Street, Portales, NM 88130
Phone: +1 (575) 226-3996
Museum
Address: 1500 South Avenue K, Portales, NM 88130
Phone: +1 (575) 562-1011
Pharmacy
Address: 109 West 4th Street, Portales, NM 88130
Phone: +1 (575) 356-4422
Specialist
Address: 201 South Abilene Avenue, Portales, NM 88130
Phone: +1 (575) 359-1252
Thai Restaurant
Address: 1603 West 2nd Street, Portales, NM 88130
Phone: +1 (575) 226-4444

How to Get to Portales

Complaints about Short-Term Loans in New Mexico

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
55
Struggling to pay your loan
26
Charged fees or interest I didn't expect
17
Problem when making payments
16
Incorrect information on your report
14
Problem with the payoff process at the end of the loan
13
Improper use of your report
13
Getting the loan
12
Problem with additional add-on products or services
11
Can't contact lender
10
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Portales

If you need to submit a complaint against a payday lender in New Mexico, the primary regulatory body is the New Mexico Regulation and Licensing Department's Financial Institutions Division. They ensure compliance with state laws governing payday loans. You can reach them at:

  • New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, Santa Fe, NM 87505
  • (505) 476-4885
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in New Mexico?

Yes, payday loans are legal in New Mexico, but they are subject to regulations to protect consumers. The New Mexico Financial Institutions Division oversees and enforces these regulations to ensure fair lending practices.

Can Payday Loan Debt Be Forgiven?

Payday loan debt can be challenging to manage, and complete forgiveness is not common. However, borrowers facing difficulties can explore options like debt consolidation or repayment plans to make the process more manageable. Communication with the lender is essential if you're struggling to repay the loan.

Can You Get a Payday Loan Without a Bank Account?

In most cases, obtaining a payday loan in New Mexico requires having a bank account. Lenders typically use bank accounts for loan disbursement and repayment. While some alternative financial services may offer payday-like loans without a bank account, they often come with higher fees and risks.

Are Payday Loans Fixed or Variable?

Payday loans in New Mexico typically involve fixed fees, meaning the cost of borrowing remains consistent throughout the loan term. However, the annual percentage rate (APR) can vary depending on the loan amount and term. It's crucial to review the loan terms and understand the total cost before borrowing.

Is a Payday Loan Secured or Unsecured?

Payday loans in New Mexico are unsecured loans, meaning they do not require collateral. Approval for a payday loan is primarily based on the borrower's income and employment status. Unlike secured loans, such as auto title loans, payday loans do not put assets at risk.

How Long Do Payday Loans Stay in the System?

Information about payday loans can remain in the financial system for several years. Late payments or defaults on payday loans may be reported to credit bureaus, impacting your credit score and making it more challenging to secure new loans in the future. Timely repayment is crucial to avoid long-term consequences.