Why this is not available
New Mexico law does not allow payday loans, so we show no request form. There is no New Mexico license that authorizes them. Read the law: 2017 N.M. HB 347; 2022 N.M. HB 132. Regulator: New Mexico Regulation and Licensing Department, Financial Institutions Division (FID).
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3][4] | Not allowed | Not allowed | Not set by statute | Not set by statute | None | 2017 N.M. HB 347; 2022 N.M. HB 132 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Other options in New Mexico
Cheaper options to try first
- Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
- Nonprofit credit counseling through the National Foundation for Credit Counseling.
- A payment plan from the company you owe, if you ask before you miss a payment.
- 211 for help with rent, utilities and food: call 211 or visit 211.org.
More cheaper options in New Mexico.
Other loan types allowed in New Mexico
- Personal loans in New Mexico: 36% APR
- Installment loans in New Mexico: 36% APR
- Emergency loans in New Mexico: 36% APR
Help in New Mexico
Payday loans in nearby states
Sources
- nativefinance.org. 2017 N.M. HB 347. Retrieved September 23, 2026.
- krwg.org/local-viewpoints/2018-02-28/new-mexico-issues-new-rules-for-payday-loans-but-you-can-still-be-charged-up-to-175-interest. Retrieved September 23, 2026.
- treinenlawoffice.com/nm-law-worst-predatory-loans. Retrieved September 23, 2026.
- rld.nm.gov. New Mexico Regulation and Licensing Department, Financial Institutions Division (FID). Retrieved September 23, 2026.
Important disclosures
APRs vary by lender and state in New Mexico. Each lender sets its own rates and terms and must show you the APR before you sign.
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- Questions about a lender licensed in New Mexico? Contact the New Mexico Regulation and Licensing Department, Financial Institutions Division (FID) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.