A Guide to Payday and Title Loans in

Oklahoma City, OK

Payday Lending in Oklahoma City

Oklahoma City is the largest city in Oklahoma, with a lot of offer both tourists and long-term residents. Oklahoma City sports fans know that The Thunder has made the NBA playoffs every year for the past eight seasons, and the Sooner State has some of the best barbecue flavors in America. Swadley’s Bar-B-Q is one of many local favorites, and they keep mouths watering across OKC.

But while there are many great things happening in Oklahoma City, it’s not a place without problems. Among the issues plaguing the town? A poverty rate of 17.8%, which is higher than the state’s 16.3% in all of Oklahoma.

Poverty Rate in Oklahoma City vs. Oklahoma
Oklahoma City
Poverty Rate

Payday Loans in Oklahoma City

Predatory lending is exactly what it sounds like, a powerful lender feasting on desperate borrowers like ribs stacked on a plate of barbecue. Unfortunately, the laws in Oklahoma are written in favor of the lenders, at the expense of borrowers who need money.

If you’re considering taking out a short-term payday loan, think twice before you do that. The high fees and interest rates on these kinds of predatory loans can force many borrowers to spiral into long-term debt.

Payday loans work exactly the way you’d think – they give borrowers quick access to cash before their next payday. As a borrower, you write the lender a check for the loan amount plus fees, and date it in the future. The date on the check usually matches the date of your next paycheck, and the lender will cash it on that day if you don’t repay the loan before then.

Oklahoma payday loans are more popular than in any other state. In fact, 13% of adults in Oklahoma have taken one out. Payday loans in Oklahoma last between 12 and 45 days, and borrowers pay a $15 fee for every $100 they borrow – up to $300. For loans between $301 and $500, they pay a $10 fee for every $100 they borrow. This means that the effective Annual Percentage Rate (APR) on a 14-day payday loan of $100 comes out to a staggering 390%.

The biggest problem for payday loan borrowers is simply that life doesn’t stop to consider the interest you owe. By the time you have to pay back that payday loan, more bills will be due, you’ll need to pay rent, buy groceries, fill up the car with gas, etc. All these expenses coupled with the interest owed from your payday loan, and it’s easy to find yourself in the red again, needing to take out another payday loan just to cover your everyday expenses.

According to a report by Pew Charitable Trust, in Oklahoma, “more borrowers use at least 17 loans in a year than use just one.”

2016 Credit and Debt Statistics for Oklahoma City vs. Oklahoma vs. U.S.


Ave. Number of Credit Cards:

Ave. Balances on Credit Cards:

Ave. Number of Retail Cards:


Ave. Non-Mortgage Debt:

Ave. Mortgage Debt:

Ave. Retail Debt:

90 Plus Days Past Due Delinquency:


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Local Resources to Help Oklahoma City Residents Avoid Predatory Lenders

There are many reasons people in Oklahoma City may find themselves desperate for cash. As the opioid epidemic sweeps across the state, they may need to help a friend of family member find treatment for their addiction. They may need to pay the rent, put gas in their car, or buy clothes for a job interview. There’s no shame in struggling, and if you’re in need of financial help, there are better options out there than taking out a predatory payday loan.

Consumer Spending in Oklahoma City vs. Oklahoma vs. U.S.


Total per Household

Apparel & Services

Dining Out

Food Consumed at Home


Health Care


Life and Other Insurance

Pensions and Social Security


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Food Assistance Resources in Oklahoma City

The Regional Food Bank of Oklahoma lets you search for food pantries by zip code. Food stamps in Oklahoma have been replaced with the Supplemental Nutrition Assistance Program, or SNAP for short. You can find out more from the Oklahoma Department of Human Services. There is also a specialized SNAP program, the Women, Infants, and Children Nutrition Program.

Regional Food Bank of Oklahoma

Supplemental Nutrition Assistance Program (SNAP)

Women, Infants and Children Nutrition Program (WIC)

Medical Debt in Oklahoma County vs. Oklahoma
Oklahoma County
% Uninsured
% with Medical Debt in Collections
Median $ Medical Debt in Collections

Healthcare Resources in Oklahoma City

If you need healthcare, you may be eligible for Medicaid. If you have children, they may be eligible for the State Children’s Health Insurance Program, also known as SCHIP. Find out more from the Oklahoma Department of Human Services. You can search for a local office on their website.

Oklahoma Department of Human Services

Rent Assistance in Oklahoma City

If you are late paying rent, or even in danger of being evicted, the organization Upward Transitions is helping OKC residents escape housing instability. They can even help with job training and placement. If you own your house and are at risk of foreclosure, the Neighborhood Housing Services Oklahoma can help you fight to keep your home.

Upward Transitions, Inc.

Neighborhood Housing Services Oklahoma

  • Website: www.nhsokla.org
  • Address: 4301 N. Classen Boulevard, Oklahoma City, OK 73118
  • Phone: (405) 231-4663
Monthly Housing Costs as a Percentage of Household Income in Oklahoma City
  • Less than $20,000:15.7%
  • $20,000 to $34,999:16.9%
  • $35,000 to $49,999:14.4%
  • $50,000 to $74,999:17.9%
  • $75,000 or more:31.7%
Oklahoma City vs. Oklahoma Median Housing Values and Monthly Costs


Median Housing Value

% of Housing Units with a Mortgage

Median Monthly Cost (w/ mortgage)

Median Monthly Cost (w/o mortgage)

Median Rent

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Works Cited