English
EspañolPayday Loans and Cash Advance in Tulsa, OK
Payday repealed 2020; small loans at 17% monthly in Oklahoma. What a shortfall looks like on Tulsa rent and pay, the local rules, who to call for help, and how to request a cash advance online.
Tulsa's paychecks come from hangars, hospitals and pipelines. The American Airlines maintenance base by the airport is one of the city's biggest employers, and around it sit aerospace suppliers, the QuikTrip, ONEOK and Williams headquarters, Saint Francis, Hillcrest and OSU Medical Center, and a large public school district. Energy jobs pay well until prices fall. When they do, the cuts spread to trucking, welding shops and the restaurants along 71st Street. North Tulsa and east Tulsa, around 21st and Garnett and out past Memorial, carry much of the strain, with hourly work and older rentals that cost a lot to heat and cool. The weather writes its own bills: ice storms that drop limbs on power lines, hail every spring, August PSO bills for window units, and the Memorial Day windstorm of 2024 that left large parts of the city dark for days and a lot of refrigerators to empty. Tulsa Transit's Aero line on Peoria helps, but many shifts start where the bus does not go, so a car repair can decide whether you work that week. Oklahoma ended the two-week payday loan in 2020, so what a Tulsa lender can offer now is a small installment loan at up to 17 percent a month.
What a $500 Shortfall Looks Like in Tulsa
Tulsa's median household income is $59,838, about $4,987 a month before taxes ($59,838 / 12), so a $500 shortfall is roughly 10.0% of a typical month. Against the median gross rent of $1,052 it is about 47.5%, close to half a rent payment. Under Oklahoma's small loan rules, borrowing that $500 means at least 60 days of payments at up to 17 percent a month, so a gap that opened in one week stays on the budget for two months or more.
Oklahoma Rules That Apply in Tulsa
| Rule | OK |
|---|---|
| Maximum amount | $1,500 in aggregate principal outstanding across all licensees per customer, adjusted for inflation every other year (59 O.S. 3150.10(C)) |
| Maximum fee per $100 | Periodic interest of up to 17% per month; no other charges except a $25 returned payment fee and, on default, an attorney fee of up to 15% of the balance (59 O.S. 3150.10) |
| Maximum term | 12 months (59 O.S. 3150.1) |
| Rollovers | Not applicable; the loan is an amortizing installment loan, and deferred deposit renewals ended on August 1, 2020 (59 O.S. 3101.1, 3150.1) |
| $300 for 60 days | $78.50 fee, 159% APR |
The full law, the regulator's phone number and the statute citations are on the Oklahoma cash advance page.
Local Ordinance in Tulsa
Tulsa has no ordinance on the cost, size or term of a small loan, so the Oklahoma Small Lenders Act (59 O.S. 3150.1 and following) sets the rules; the zoning code only lists payday lenders, along with check cashers and pawnshops, as personal credit establishments, a use allowed in commercial, mixed-use and industrial districts but not in residential or office districts or the river design overlays (Tulsa Zoning Code, Section 35.050-G).
Free Help in Tulsa Before You Borrow
- 211 Eastern Oklahoma: Free referral line for rent, utility and food help across 37 eastern Oklahoma counties, operated with Tulsa Area United Way; call 24/7 or text your ZIP code to 877-836-2111 on weekdays. Call 211 or visit 211eok.org.
- Oklahoma Human Services, Energy Assistance (LIHEAP): Winter heating, summer cooling and Energy Crisis Assistance Program (ECAP) help; apply at okdhslive.org during open enrollment, or call and choose the energy assistance options for a life-threatening energy crisis. Call 405-522-5050 or visit oklahoma.gov/okdhs/services/liheap/utilityservicesliheapmain.html.
- Legal Aid Services of Oklahoma: Free civil legal help for low-income Oklahomans; the application hotline is answered Monday to Thursday, 9 a.m. to 4 p.m., and the Tulsa law office is at 907 S. Detroit Ave. (918-584-3338). Call 1-888-534-5243 or visit legalaidok.org/apply.
- Oklahoma Department of Consumer Credit: State regulator that licenses small lenders, including online lenders; call to check a license or make a complaint. Call 405-521-3653 or visit oklahoma.gov/okdocc.html.
Tulsa on the Map
Frequently Asked Questions
Are payday loans still legal in Tulsa?
Not the two-week kind. Oklahoma stopped all new deferred deposit loans on August 1, 2020 (59 O.S. 3101.1). A Tulsa lender can now offer only a small loan under the Small Lenders Act: 60 days to 12 months, repaid in equal installments, at up to 17 percent interest a month, with total principal across all lenders capped at $1,500 and checked against a statewide database.
How much does a $300 small loan cost in Tulsa?
At the maximum rate of 17 percent a month, a $300 loan over the 60-day minimum term means two payments of about $189.25, or $378.50 in total. That is $78.50 in interest, and the nominal annual rate on the contract is 204 percent. You can prepay at any time without penalty, and paying early is the simplest way to cut the interest.
A website offered me a two-week payday loan in Tulsa. Is that legal?
Not from an Oklahoma licensee. The two-week product ended in 2020, and 59 O.S. 3150.2 treats any company that lends to Oklahomans online or by phone as lending in the state, so it needs a small lender license. Out-of-state and tribal-affiliated sites still advertise to Tulsa borrowers. Call the Department of Consumer Credit at 405-521-3653 to check a license before you share bank details.
Where can I get help with a PSO or ONG bill in Tulsa?
Oklahoma Human Services runs LIHEAP, with a winter heating round, a summer cooling round and crisis help through ECAP. Apply at okdhslive.org during open enrollment, or for a life-threatening energy crisis call 405-522-5050 and choose the energy assistance options. Dial 211 for 211 Eastern Oklahoma, which lists rent and utility help in Tulsa County. A payment plan with the utility costs nothing.
