3 Best Payday Loans Companies in New Mexico

Introduction to Payday Lending in New Mexico

Important Information – On January 1, 2018 new legislative overhauls were made to the New Mexico House Bill 347 – overhauls that essentially made it payday loans in New Mexico illegal. Strict limits were placed on small dollar loans that eliminated most payday loan offers, but it’s still possible to get small short-term loans from top-tier providers as long as they meet new restrictions.

These restrictions include:

  • Maximum APR of 175%
  • Loan terms that stretch at least 120 days
  • Loans must have a minimum of four equal payments for the repayment schedule

Below are some of the best short-term lending companies in New Mexico that can still help you get quick cash when you need it most, even if they aren’t able to offer “traditional” payday loan solutions.

Cash Store

Cash Store is one of the premier nontraditional lenders in all of New Mexico, with a number of different offices based in Albuquerque as well as throughout the rest of the states.

Visitors to these offices can take advantage of cash advance, installment loan, and title loan solutions to meet their short-term lending needs.

Ease of Application Process

Cash Store makes online applications a breeze to move forward with, providing individuals an opportunity to go through the entire application process from start to finish in about 15 minutes or so.

Those that choose to complete the entire process online can get an almost instant approval as well if they are found to be qualified, but individuals also have the opportunity to get application started online and then bring necessary documents to verify their identity to a physical Cash Store location to finish things off.

Lending Limits

Individuals in New Mexico will have the opportunity to take advantage of short-term lending opportunities for as much as $5000, more than they would have been able to under the old rules, regulations, and laws governing payday loans.

Your lending limit through Cash Store will be outlined to you during the application process so that you know whether or not you should continue moving forward and getting the cash you are looking for or search elsewhere for potentially more (if necessary).

Accessing Funds

Funds accessibility can be taken advantage of through direct transfer via the ACH banking process, putting all of the loan directly into your account at once and usually doing so inside of 24 hours or less.

You can also request cash if you visit any of the local Cash Store locations directly.

Customer Service

Customer service and support through the Cash Store is so good that it is a big part of why so many people continue to choose to move forward with this short-term lender versus others in New Mexico. You’ll have a tough time finding any company out there that has as good a reputation for customer service as this organization does.


Cash Store has a rock solid reputation with the Better Business Bureau, is fully licensed to offer these kinds of short-term loans in New Mexico, Texas, Utah, and a host of other states, and meets all state and federal regulations to act as this kind of nontraditional lender.

New Mexico Title Loans

This is another of the better nontraditional lenders in the state of New Mexico, with just under a dozen different offices located throughout the state – with many of them in Albuquerque and Rio Rancho.

Visitors to any of these physical locations will really go through a quick and simplified application process, but New Mexico Title Loans, Inc. also makes it possible to go through a straightforward online application as well.

Lending limits here are quite friendly to first-timers as well as newbies to the world of short-term lending, and the trustworthiness and reputation of this company is top-tier.

Ease of Application Process

The New Mexico Title Loans, Inc. application process is simple and straightforward, necessitating that you move through a process that from start to finish should take about 10 minutes or so.

You need to provide a government issued ID, proof of employment, and bank account information to move through to the approval process – but as long as you have all of that ready to go you online or in person application will take very long at all.

Lending Limits

As a lending limits through this organization go all the way up to $5000, though what you are able to take out as a short-term loan with this organization will vary depending on the specifics of your situation.

Title loan opportunities can help you take out even more money than that, but again it all comes down to your specific situation.

Accessing Funds

Funding accessibility can be taken care of a couple of different ways, including walking out about a physical New Mexico Title Loans, Inc. location with cash in hand – the entirety of your loan amount.

You could also choose to move forward with direct depositing via ACH directly into your bank account. New Mexico Title Loans, Inc. also provides prepaid Visa cards for those that want to go in that direction.

Customer Service

Customer service and support is fantastic, with service available every day of the week except for Sundays via their offices or their phone. Email and online support is available 24/7 every day of the week – every day of the year – should you have any issues you need to navigate.


This nontraditional lender is fully licensed and regulated by the state of New Mexico via the Regulation and Licensing Department. They also have a rock solid reputation with industry watchdogs, customers online, and the Better Business Bureau.

Check `N Go

Check `N Go is another of the recommended short-term lenders we want to mention in this list, a lending office that can help you get your hands on the quick cash you need when you need it most – regardless of your credit history, repayment history, or your specific financial situation as it sits right now.

Ease of Application Process

Online applications for lending opportunities through Check `N Go can be handled in about 15 minutes, though you’ll have to make sure that you can provide digital copies of a government issued ID, a proof of an active checking account, proof of employment/income, and a valid and currently working phone number to move forward.

You can also visit any of the physical Check `N Go locations throughout the state (with more than three located in Albuquerque alone) during normal business hours to navigate the application process as well.

Lending Limits

Like all other short-term lending services in the state of New Mexico this company is able to offer short-term loans good for up to $5000, though title loans and other lending opportunities allow them to offer a little bit more.

They cannot offer payday loans in specific (because of the update to the laws and regulations in New Mexico we highlighted at the beginning of this guide), but there are short-term lending options for those that need them most provided by Check `N Go.

Accessing Funds

Because Check `N Go offers a variety of different financing options and financial services – including check-cashing and operating as a licensed Western Union Financial Services organization – you have plenty of opportunities to access the funds that you have been granted.

ACH direct deposit, physical check, cash in hand, money transfer, and other options are available should you decide to move forward with this organization.

Customer Service

Check `N Go has a solid reputation for customer service and support as any of the reviews for this company online will attest to. They have customer service available six days a week (Sundays they are closed) via their telephone, but also offer 24/7, every day of the year customer service through their online portal.


Licensed by the state of New Mexico as well as a legitimate and authorized Western Union Financial Services organization, you won’t have to worry about whether or not you can trust the Check `N Go company to help you with your short-term financing needs.

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