Personal loans in Clovis, NM
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Clovis, NM.
The median household in Clovis earns $54,820 a year, 14% below the New Mexico median of $64,059. About 22% of residents live below the federal poverty line, and 37.9% of households rent their home.
New Mexico law that applies in Clovis
| Rate cap | No more than 36% APR, counting finance charges, ancillary products, credit insurance and related fees. |
|---|---|
| License required | No one may be in the business of lending $10,000 or less without a license from the director. |
| Loan sizes covered | Loans of $10,000 or less (raised from $5,000). |
Full rules with statute citations: Personal Loans in New Mexico. Cities in New Mexico cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Clovis
Most Clovis applicants can finish in one sitting if they have these ready:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Clovis
What Clovis borrowers use it for
cover a short gap before payday
Need money nowthe fastest options online
Moving costsdeposits, trucks and first-week expenses
Holiday expensesgifts and travel without maxing a card
Loans for your situation
How to get a personal loan in Clovis
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Clovis
13 FDIC-insured bank branches from 10 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| The Citizens Bank of Clovis | 3 | 421 Pile St, Clovis 88101 |
| The Bank of Clovis | 2 | 300 N Main St, Clovis 88101 |
| UMB Bank, National Association | 1 | 709 Pile St, Clovis 88101 |
| Western Commerce Bank | 1 | 101 W Llano Estacado Blvd, Clovis 88101 |
| WaFd Bank | 1 | 2720 N Prince St, Clovis 88101 |
| U.S. Bank National Association | 1 | 2501 N Prince St, Clovis 88101 |
| American Heritage Bank | 1 | 3300 N Prince St, Clovis 88101 |
| The James Polk Stone Community Bank | 1 | 901 Colonial Pkwy, Clovis 88101 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Clovis
1 credit-union locations from 1 credit unions.
| Credit union | Location |
|---|---|
| Cannon | 4205 N Prince St, Clovis 88101 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Curry County ·
Frequently asked questions
Can I get a personal loan with bad credit in Clovis?
Possibly. Lenders in our network consider applicants with fair and bad credit across New Mexico, including Clovis. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Clovis, NM?
36% APR all-in cap on loans up to $10,000 (raised from 175%).
How fast can I get a personal loan in Clovis?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Clovis borrowers who qualify.
How do installment loans work in Clovis?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Clovis residents can see installment loan offers with our free 3-minute form.
Can I get an emergency loan with bad credit in Clovis?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Clovis residents can see if they qualify in about 3 minutes.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Can I get a personal loan in Clovis with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Clovis residents can see if they qualify for $100 to $5,000 in about 3 minutes.
Do I need to visit a store in Clovis?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.