Payday Loans Santa Fe, NM
Online installment loans up to $1500 for New Mexico residents with a regular income. No car title and no collateral. Our office is in Gallup, and you apply from Santa Fe.
If you are searching for payday loans Santa Fe residents can use, here is the short version first. Payday loans are not permitted in New Mexico, and Lucky Loans is not a payday or title lender. We offer traditional installment loans up to $1500, and no collateral is required. You keep your car, and you repay in scheduled payments instead of one lump sum.
Santa Fe is the state capital, and plenty of households here still hit a short month, a repair bill or a medical charge. If you are a New Mexico resident with a regular income, you can apply online from Santa Fe, where permitted by law. Our walk-in 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 in Santa Fe: What Lucky Loans Offers Instead
People type payday loans Santa Fe into a search bar when they need cash before the next paycheck. In New Mexico, the payday loan provisions were repealed effective 2017, so licensed lenders use installment loans instead. That is what we do.
An installment loan is repaid in set payments over time. It is a different product from a loan due in full on your next payday, and we think it is much safer for the borrower. There are no pre-payment penalties, so you can pay ahead if your situation improves.
We also report your good credit. On-time payments can help build your record rather than just clear one bill. Take a look at our New Mexico loan guide for the full overview.
Personal Loans in Santa Fe, NM: How the Application Works
Looking for personal loans in Santa Fe, NM? Our loans are unsecured installment loans up to $1500. You can start the application on our online form from your phone or computer. We review your application and your credit information, then tell you the result.
After review we walk you through signing, and the money is deposited to your bank account the next business day. Exact terms and the APR are set at application and depend on the application and credit information. Not all applicants will qualify for the lowest rate.
Have these ready when you close your loan:
- 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.
Title Loans in Santa Fe: No Collateral, Keep Your Car
Some Santa Fe borrowers search for title loans in Santa Fe because they think a car is the only way to borrow. A title loan puts your vehicle on the line. Our loans do not. Lucky Loans is not a title lender, so there is no car title, no lien and no collateral required.
Your car stays in your driveway whether you borrow $500 or $1500. If you need that car to get to work, that matters. You can read more about the difference on our payday loan alternatives page, or see how a similar request works on our title loans page.
Cash Advance Santa Fe NM: Sample Payments at the 36% Cap
A cash advance in Santa Fe, NM often comes with a question: what will the payments look like? These are estimates at 36% APR, the New Mexico maximum, with equal monthly payments. Your actual terms may differ.
- $500 over 6 months: about $85.79 a month, total $514.74
- $1,000 over 12 months: about $100.46 a month, total $1,205.52
- $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
Try your own numbers with the loan calculator. Our $1500 loan page has more detail on the top amount.
New Mexico Law, the 36% APR Cap and License #02179
Santa Fe is also home to the state regulator. Small loan lenders in New Mexico are licensed by the Regulation and Licensing Department (RLD), Financial Institutions Division (FID), P.O. Box 25101, Santa Fe, NM 87504, (505) 476-4885.
Lucky Loans is operated by Excel Finance New Mexico, LLC, under license #02179. Since January 1, 2023, House Bill 132 caps the APR at 36% on loans of $10,000 or less under the Small Loan Act and the Bank Installment Loan Act. Fees and credit insurance count toward that figure.
If you have a complaint, you can reach our Compliance Dept at (512) 608-0035 or contact the FID directly.
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 Santa Fe, NM?
Not from us, and not from any licensed lender, because payday loans are not permitted in New Mexico. Lucky Loans offers traditional installment loans up to $1500 instead. Approval is not guaranteed; every application is reviewed.
Do you offer personal loans in Santa Fe, NM?
Yes, in the form of unsecured installment loans up to $1500. New Mexico residents with a regular income can apply online from Santa Fe, where permitted by law. Terms are set at application and depend on your application and credit information.
Do you make cash advance loans in Santa Fe, NM?
We make installment loans rather than cash advances due on your next payday. You repay in scheduled payments, there is no pre-payment penalty, and we report your good credit. Call 505-863-5825 with questions.
Do you offer title loans in Santa Fe?
No. Lucky Loans is not a title lender, and our loans require no collateral. You keep your car and your title. Bad credit OK to apply, although approval is not guaranteed and every application is reviewed.
Do you have an office in Santa Fe?
No. We do not have a Santa Fe office. You can apply online from Santa Fe, 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 Santa Fe
Bad credit OK to apply. Approval is not guaranteed; every application is reviewed. Start your application online, or call 505-863-5825 and ask us anything first. Staff also speak Navajo: Diné bizaad bee yádeiltį.
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.