Payday Loans Clovis, NM
This is Clovis, New Mexico, in Curry County. Apply online for an installment loan up to $1500 with no collateral. Our office is in Gallup, not Clovis.
Looking for payday loans Clovis NM? First, a quick note that this page is about Clovis, New Mexico, in Curry County, and not Clovis, California. Lucky Loans is licensed in New Mexico, and payday loans are not permitted here. What we offer instead is a traditional installment loan up to $1500 with no collateral required.
Clovis is home to Cannon Air Force Base, and many local families watch a tight budget from month to month. If you are a New Mexico resident with a regular income, you can apply online from Clovis, where permitted by law. We have no Clovis office; our office is at 1108 E. Hwy 66 in Gallup. Bad credit? You can still apply. Approval is not guaranteed; every application is reviewed.
Payday Loans Clovis: Why New Mexico Uses Installment Loans
Searches for payday loans Clovis turn up lenders from all over the country, so it helps to know the local rule. New Mexico repealed its payday loan provisions, effective 2017. Licensed lenders use installment loans.
With an installment loan, you repay in scheduled payments over time instead of handing over the full amount at once. We call that safer for the consumer. There are no pre-payment penalties, and we report your good credit.
You can browse the New Mexico loan guide or the alternatives page for more background.
If you have borrowed elsewhere before, you may remember a short due date. That is the model New Mexico moved away from, and an installment schedule gives you room to plan each month around known payments.
Cash Advance Clovis: How Our Installment Loan Works
If you need a cash advance Clovis, here is how ours works. You apply for up to $1500 on the online form. We review your application and credit information. If you are approved, we walk you through signing, and the money is deposited to your bank account the next business day.
Costs depend on your application. Exact terms and the APR are set at application, and not all applicants will qualify for the lowest rate. The legal ceiling is 36% APR, all-inclusive.
Estimates at that 36% cap, with equal monthly payments, look like this. Your actual terms may differ.
- $500 over 6 months: about $85.79 a month, total $514.74
- $1,500 over 6 months: about $257.37 a month, total $1,544.22
- $1,500 over 12 months: about $150.70 a month, total $1,808.28
Run your own numbers in the calculator.
Title Loans in Clovis, NM: No Collateral Required
Title loans in Clovis, NM ask you to hand over your car title as security. Lucky Loans does not. We are not a title lender, and our installment loans are unsecured. No title, no lien, no collateral.
Keep your car, keep your keys and keep your commute. That matters in a community where many people drive to work or to the base. If you are comparing choices, our title loans page explains the difference in plain terms.
If a family member has told you about a title loan, call 505-863-5825 and ask us how ours compares. We are glad to explain the difference before you apply.
Apply From Clovis: Requirements and Documents
New Mexico residents with a regular income can apply online, where permitted by law. Bad credit OK to apply, and approval is not guaranteed.
At closing, you will need:
- Identification
- Social Security card
- Proof of address
- A valid phone number
- Paystubs or other income information
Income from alimony, child support or separate maintenance does not have to be disclosed if you do not want it considered. For larger needs, read about the $1500 loan or see bad credit installment loans.
Staff speak Navajo as well as English, and every conversation gets a personal touch from our Gallup office team.
Licensed in New Mexico: License #02179 and the 36% Cap
Lucky Loans is operated by Excel Finance New Mexico, LLC, under license #02179. Small loan lenders are licensed by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, Santa Fe, NM 87504, (505) 476-4885.
House Bill 132 capped the APR at 36% for loans of $10,000 or less starting January 1, 2023. Fees and credit insurance count toward that cap. Our Compliance Dept can be reached at (512) 608-0035.
Installment Loan Examples at the New Mexico 36% APR Cap
| Amount | Term | Monthly payment | Total interest | Total repaid |
|---|---|---|---|---|
| $300 | 6 months | $55.38 | $32.28 | $332.28 |
| $300 | 12 months | $30.14 | $61.66 | $361.66 |
| $500 | 6 months | $92.30 | $53.79 | $553.79 |
| $500 | 12 months | $50.23 | $102.77 | $602.77 |
| $1,000 | 6 months | $184.60 | $107.59 | $1,107.59 |
| $1,000 | 12 months | $100.46 | $205.55 | $1,205.55 |
| $1,500 | 6 months | $276.90 | $161.38 | $1,661.38 |
| $1,500 | 12 months | $150.69 | $308.32 | $1,808.32 |
Estimates at 36% APR, the New Mexico maximum, equal monthly payments. Your actual terms may differ. Try the loan calculator.
Online Loans in Other New Mexico Cities
Frequently Asked Questions
Can I get payday loans in Clovis, NM?
Payday loans are not permitted in New Mexico. Lucky Loans offers installment loans up to $1500 instead, repaid in scheduled payments. Approval is not guaranteed; every application is reviewed.
Is this about Clovis, New Mexico or Clovis, California?
Clovis, New Mexico, in Curry County. Lucky Loans is licensed in New Mexico only, and applicants must be New Mexico residents with a regular income, where permitted by law.
Can I get a cash advance in Clovis?
We offer installment loans up to $1500 rather than payday-style cash advances. You repay in scheduled payments with no pre-payment penalty. Call 505-863-5825 with questions.
Do you offer title loans in Clovis, NM?
No. Lucky Loans is not a title lender. Our loans need no collateral, so you keep your car and your title. Bad credit OK to apply; every application is reviewed.
Do you have an office in Clovis?
No. We have no Clovis office. You can apply online from Clovis, and our office is at 1108 E. Hwy 66 in Gallup, open Monday to Friday 8:00 am to 6:00 pm and Saturday 8:00 am to 1:00 pm.
More Loan Guides
Apply Online From Clovis, New Mexico
Bad credit OK to apply. Approval is not guaranteed; every application is reviewed. Start online, or call 505-863-5825 to ask a question before you apply.
Approval is not guaranteed. Every application is reviewed. Loan amounts and terms depend on your application, credit information and New Mexico law. Lucky Loans is licensed by the New Mexico Financial Institutions Division, license #02179.