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New Mexico lender directory

Payday Loans in New Mexico: Rates Capped at 36%. Here Are the Legal Options

We list no payday loan stores in New Mexico, and New Mexico law caps what lenders can charge. Below is what the law says, and the licensed ways to borrow in New Mexico that we track.

What New Mexico law says

A New Mexico small loan lender cannot make a loan with an annual percentage rate (including fees and add-on products) above 36 percent. If the prime rate stays above 10 percent for three months, the cap rises by the number of points prime is above 10.

Source: NMSA 58-15-17(J), (L) · verified Oct 9, 2026

A loan to someone in New Mexico has to stay within this limit unless the lender is licensed or otherwise authorized by New Mexico law to charge more. We list no payday loan stores in New Mexico; the licensed options we track are below.

Licensed lenders in New Mexico

These types of lenders operate legally in New Mexico, each under its own rules and costs. Compare the total cost before you borrow.

If someone offers you a payday loan in New Mexico

Some lenders based in other states or online still advertise payday loans to New Mexico residents. A loan from a lender that is not licensed in New Mexico may not come with the protections that licensed lenders must give, such as cost limits and complaint rights. Before you borrow, check that the lender is licensed in New Mexico.

To report a lender or ask a question, contact the New Mexico Regulation and Licensing Department, Financial Institutions Division.

Questions people ask

Are payday loans legal in New Mexico?

We list no payday loan stores in New Mexico. A New Mexico small loan lender cannot make a loan with an annual percentage rate (including fees and add-on products) above 36 percent. If the prime rate stays above 10 percent for three months, the cap rises by the number of points prime is above 10 (NMSA 58-15-17(J), (L)).

Answers are generated from the listings and verified rules on this page; see Sources below.

Sources

Where the facts on this page come from, and when we last checked them.

  1. NMSA 58-15-17(J), (L) · Interest rate cap Last verified Oct 9, 2026 · medium confidence
  2. New Mexico Regulation and Licensing Department, Financial Institutions Division · Licensing and complaints Date not recorded

We re-check sources regularly and show the date each was last verified. Spotted a mistake? Tell us and we'll check it against the source.

CashAdvance is not a lender and does not take applications. Listings are information only, built from public records (such as state license lists) and lenders' own published details. Confirm hours, fees and terms with the lender before you visit or borrow.