New Mexico Installment Loans
- Online or in-store
- Same-day short-term loans
- No minimum credit score required
- Get up to $5,000
- From a licensed and regulated lender
Why Trust Us?
1F Cash Advance has been providing emergency loans since 2019. We are licensed and operate under state laws. Over 140,305 consumers have already benefited from our services, both online and in stores.
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New Mexico is known as a state where 18.4% of residents live below the poverty line, which is significantly higher than the national average of 11.6% [1]. This means people living here may face financial troubles when unexpected expenses pop up. When your budget is already stretched thin, even a minor emergency can turn into a major financial setback.
That’s where 1F Cash Advance comes in. We offer installment loans in New Mexico that are fast, secure, and accessible – no matter your credit history. Apply online today or call us at (505) 391-3196 to request our affordable loans in minutes. Borrow up to $5,000 with flexible repayment terms and a quick, hassle-free approval process.
Personal Installment Loans
A personal installment loan is a small loan of up to $5,000, with repayment terms ranging from 4 to 24 months and fixed monthly payments. These loans can be used for home improvements, car repairs, medical emergencies, or other personal expenses. The application process is fast and secure, and good credit is not required to qualify.
How to Get a Personal Loan in New Mexico
With 1F Cash Advance, getting a personal loan is simple and fast:
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Start your application. Submit your request via the website or visit our Albuquerque store.
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Get approved instantly. Approval is based on your current financial situation, not your credit history.
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Receive your money. If approved, get an ACH transfer to your bank account within 24 business hours. Early applications may be funded on the same day.*
*Same-day funding is available for applications submitted before 10:30 a.m. Applications submitted in the evening, on weekends, or on holidays will be processed the next business day. Same-day cash pickup is also available when you apply in person at one of our local stores.
Who is Eligible
1F Cash Advance makes it easy to qualify for bad credit loans in New Mexico.
- Be at least 18 years old
- Permanently reside in New Mexico
- Have a valid government-issued photo ID
- Provide Social Security number
- Show proof of steady income
- Have an active checking account in your name
- Provide a valid phone number and email address
Rates and Terms
Under current New Mexico law, the APR for personal loans of $10,000 or less is capped at 36%, effective January 1, 2023. This applies to loans under the Small Loan Act of 1955 and the Bank Installment Loan Act of 1959. A late fee of 5% may apply for missed payments, not to exceed $10.
Here are examples of online loan offers available in New Mexico:
| Loan Amount | Term (Months) | Monthly Payment | APR | Total Interest |
|---|---|---|---|---|
| $500 | 4 | $134.51 | 36% | $38.05 |
| $1,000 | 8 | $142.46 | 36% | $139.65 |
| $5,000 | 24 | $295.24 | 36% | $2,085.69 |
The examples provided are for illustrative purposes only and do not constitute guaranteed rates or approval terms.
Disclosures
Installment loans are designed to address short- to medium-term financial needs and should be used responsibly. They are not intended as a solution for long-term financial challenges or ongoing borrowing.
Borrow only what you need and can reasonably afford to repay. Carefully review all loan terms, including the repayment schedule and total cost of the loan. Ensure the monthly payments align with your budget to avoid late fees, negative credit impacts, or potential collection actions.
1F Cash Advance is licensed and regulated by the New Mexico Financial Institutions Division.
Types of Small Loans in New Mexico
New Mexico residents can access short-term loans to cover urgent expenses or temporary cash gaps. The most common small loans include:
Payday Loans
These are short-term loans typically due on your next payday. Loan amounts are usually up to $1000; repayment is made in a single lump sum. Payday loans in New Mexico are best when you need fast access to cash to overcome a small emergency. A minimum payday loan fee is typically $10 for each $100 advanced. We encourage borrowers to avoid high-interest loan options that don’t meet the state rules and regulations.
Title Loans
Title loans let you use your vehicle title as collateral to get cash quickly. In New Mexico, the loan amount is limited to $2,500 or 50% of the car’s value, whichever is less. Terms must be at least 30 days, with one renewal allowed. After that, the balance must be repaid through a structured payment plan. Fees are capped at $15.50 per $100 borrowed. Repossession rules apply if you default, but lenders must follow strict notice and redemption procedures.
Personal Loans
Personal loans offer up to $5,000 with fixed monthly payments and flexible terms of up to 24 months. They don’t require collateral, and approval is possible even with a low credit score. Unlike payday loans, repayment is spread out over time and not required in a single lump sum. And unlike title loans, you don’t risk losing your vehicle. This makes personal loans a safer, more manageable option for covering larger expenses or consolidating debt.
1F Cash Advance Stores
If you have a unique situation or prefer personal communication, visit our office in Albuquerque for in-person support and same-day cash.
Address: 2323 San Pedro Dr NE, Albuquerque, NM 87110
Phone: (505) 391-3196
Email: [email protected]
Branch Manager: Colin Parsons
Hours:
Monday – Friday: 8:00 am to 10:00 pm
Saturday: 9:00 am to 6:00 pm
Sunday: Closed
If you’re in Farmington, Santa Fe, Roswell, Las Cruces, or Rio Rancho and can’t reach a physical location, our fast, secure, and easy-to-use online service is available from anywhere in the state. Looking for a location in another state?
What Makes 1F Cash Advance Different
Here’s why borrowers choose us:
Professional Support
We're here with clear answers, no pressure, and real help when you need it.
Speed That Matches Your Urgency
Most applicants get a decision within minutes and receive money the same day.
Security You Can Trust
Your data is safeguarded with advanced encryption and strict privacy protocols.
FAQ
Can I get approved with bad credit?
At 1F Cash Advance, your credit score isn’t the only factor we consider. We focus on your current income and ability to repay, so you may qualify for a loan even with bad or no credit.
What are the fast loan alternatives available?
There are a few quick options if you need money fast. A cash advance app allows you to receive $50 to $500 before your next paycheck based on your direct deposit history and account balance. Funds are often available the same day, and a monthly fee of $1 to $9 may be charged for the service. Credit unions may offer small emergency loans with lower rates, though the process can take longer. A line of credit gives you access to money when you need it, up to a set limit. Each option works differently, so choose what’s best for your situation.
Can I choose ACH transfer as my funding method?
If you provide valid bank account details during your application, the lender uses ACH transfer to send the funds.
Do you offer check cashing services?
Yes, you can cash your check at our Albuquerque location—even without a bank account. It only takes a few minutes, and a small fee applies.