Payday Loans in Ah Gwah Ching, Minnesota

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No payday loan companies in Ah Gwah Ching, MN. Consider companies in other cities:

Company nameAddressZip codePhone number
Deerwood Bank 9451 Madison St, Garrison, MN 56450 +1 (320) 692 - 4336
Hoff's Insurance Specialist 225 N Benton Dr 214, Sauk Rapids, MN 56379 +1 (320) 654 - 8766
Raymond James Financial Services 101 Minnesota Ave N, Aitkin, MN 56431 +1 (218) 927 - 3794
RiverWood Bank 22 1st St NE, Bagley, MN 56621 +1 (218) 694 - 6153
Gate City Bank in Coborn's 110 1st St S, Sauk Rapids, MN 56379 +1 (320) 227 - 1346
SouthPoint Financial Credit Union 920 Main St E, Sleepy Eye, MN 56085 +1 (877) 794 - 6712
Principal Financial Group 113 2nd St NE, Waseca, MN 56093 +1 (507) 833 - 7705
Citizens State Bank of Waverly - Montrose Office 145 Nelson Blvd, Montrose, MN 55363 +1 (763) 675 - 2265
RCB 310 E Howard St, Hibbing, MN 55746 +1 (218) 263 - 8886
Northern Pawn 303 Credit Union Drive Northeast 9, Isanti, MN 55040 +1 (763) 444 - 7347

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ah Gwah Ching, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Minneapolis, MN, Payday Loans in Minnetonka, MN, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Payday Loan for Saint Cloud, MN, Payday Loan for Saint Paul, MN, Payday Loan for Savage, MN and Short-term Loans in Shakopee, MN. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Ah Gwah Ching, MN.

Are Payday Loans Legal In Ah Gwah Ching, Minnesota?

Loan Rates and Fees, Laws and Regulations in Minnesota.

Minnesota Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)200
Maximum Loan Amount$350
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed0
Finance Charges<$50 = $5.5; $50 - $100 = 10% + $5; $100 - $250 = 7% (min $10) + $5; $250 - $350 =6% (min $17.5) + $5

Ah Gwah Ching, MN payday loan calculator

What are Payday Loans?

Payday loans are short-term loans that are typically used to cover unexpected expenses or emergency bills. These loans are usually for small amounts, ranging from $100 to $1,500, and are designed to be repaid within a few weeks or a month.

Payday Loans in Ah Gwah Ching, Minnesota

Payday loans are legal in Minnesota, including Ah Gwah Ching. However, the state has specific regulations in place to protect borrowers from predatory lenders. For instance, payday lenders in Minnesota are only allowed to offer loans up to $350 and cannot charge more than 33% interest. Additionally, borrowers are allowed to have only one outstanding loan at any given time, and repayment plans must be offered to those who are unable to repay their loan on time.

The Application Process

The application process for a payday loan in Ah Gwah Ching, Minnesota, is relatively straightforward. Potential borrowers can apply online or in person at a local lender. The application typically requires personal information, such as name, address, Social Security number, and employment information. If approved, borrowers can receive their funds within a few hours or a few days, depending on the lender’s policies.

Interest and Fees

As previously mentioned, payday lenders in Minnesota are not allowed to charge more than 33% interest. However, they can charge other fees, such as origination fees or late payment fees. Before applying for a payday loan, it’s crucial to understand the total cost of borrowing. Make sure to read the terms and conditions of the loan agreement and ask the lender any questions you may have to avoid any unexpected charges.

Risks and Alternatives

While payday loans can be a useful tool for managing sudden expenses, they come with risks. Due to their high-interest rates and fees, borrowers can quickly find themselves in a cycle of debt if they are unable to pay back the loan on time. Therefore, it’s essential to carefully consider the risks before taking out a payday loan. Alternatively, other options, such as personal loans or credit cards, may be less risky and more affordable in the long run.

Interesting Facts and Statistics

  • The average payday loan in Minnesota is for $380
  • Approximately 20% of all borrowers in Minnesota default on their payday loans
  • In 2019, there were over 200,000 payday loans issued in Minnesota, totaling more than $77 million

Apply Now

If you’re considering a payday loan in Ah Gwah Ching, Minnesota, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we’ll match you with loan options that fit your needs. Remember, we are a connector service, not a direct lender, and we do not make credit decisions. Instead, we facilitate connections between borrowers and lenders. Apply now to get started!

F.A.Q.

Can payday lenders garnish my wages in Ah Gwah Ching, Minnesota?

No, payday lenders in Ah Gwah Ching, Minnesota are not allowed to garnish your wages if you default on a loan.

Can payday lenders seize my property in Ah Gwah Ching, Minnesota?

No, payday lenders in Ah Gwah Ching, Minnesota are not allowed to seize your property as collateral for a loan.