Payday Loans in Alberta, Minnesota

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No payday loan companies in Alberta, MN. Consider companies in other cities:

Company nameAddressZip codePhone number
The State Bank of Faribault 428 Central Ave N, Faribault, MN 55021 +1 (507) 332 - 7401
State Bank of Hamburg 591 Park Ave, Hamburg, MN 55339 +1 (952) 467 - 2992
Farmers State Bank of Elkton 105 Main St, Elkton, MN 55933 +1 (507) 584 - 6441
Red Wing Credit Union 3303 N Service Dr, Red Wing, MN 55066 +1 (651) 388 - 7133
Kenny's Candy Co 609 Pinewood Ln, Perham, MN 56573 +1 (218) 346 - 2340
Stearns Bank Equipment Finance Division 500 13th St, Albany, MN 56307 +1 (800) 247 - 1922
American Federal Bank 140 Gateway Dr NE, East Grand Forks, MN 56721 +1 (218) 773 - 9711
U.S. Bank Branch 236 Main St E, Blooming Prairie, MN 55917 +1 (507) 583 - 6627
Midwest Credit Express 14873 113th St, Little Falls, MN 56345 +1 (866) 252 - 1153
American Bank of the North 1215 S Pokegama Ave, Grand Rapids, MN 55744 +1 (218) 327 - 1121

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Alberta, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Andover, MN, Payday Loan Companies in Burnsville, MN, Payday Loans in Cottage Grove, MN, Payday Loans in Duluth, MN, Payday Loan Companies in Eden Prairie, MN, Payday Loan for Inver Grove Heights, MN, Payday Loan Without a Credit Check in Lakeville, MN and Payday Loan Companies in Mankato, 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 Alberta, MN.

Beautiful sights of Alberta, MN

Payday Loans Available in Alberta, MN By The Following ZIP Codes:

56207

Are Payday Loans Legal In Alberta, 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

Alberta, MN payday loan calculator

Payday Loans in Alberta, Minnesota: Everything You Need to Know

When you’re hit with an unexpected expense and don’t have enough money to cover it, a payday loan can be a quick and easy solution to get the cash you need. But before you dive in headfirst, there are some things you need to know if you’re considering a payday loan in Alberta, Minnesota. In this article, we’ll cover everything from the basics of payday loans to the legal regulations surrounding them.

What is a Payday Loan?

A payday loan is a short-term loan that’s designed to be repaid with your next paycheck. Typically, these loans are for small amounts of money, often ranging from $100 to $500. The loans are generally easy to get, with minimal requirements for approval, but they also come with high fees and interest rates.

How Do Payday Loans Work?

To get a payday loan, you’ll need to provide some basic information to the lender, including your name, contact information, income, and bank account details. Once you’re approved, you’ll receive the money you’ve requested, usually within a day or two. The loans are typically due on your next payday, which can be anywhere from two to four weeks away.

When your due date arrives, the lender will automatically deduct the loan amount plus fees and interest from your bank account. If you can’t afford to repay the loan in full, you may be able to roll it over, but this will come with additional fees and interest.

Legal Regulations for Payday Loans in Minnesota

In Minnesota, payday loans are legal, but there are regulations in place to protect borrowers from predatory lending practices. Here are some of the key regulations you should be aware of:

  • The maximum loan amount is $350
  • The maximum loan term is 30 days
  • The maximum finance charge is 10% of the loan amount, plus a $5 administrative fee
  • You may only have one outstanding payday loan at a time
  • Lenders must provide a written agreement that includes the loan amount, finance charges, and due date before providing the loan

If you’re considering a payday loan in Minnesota, it’s important to read the terms carefully and make sure you understand the fees and interest rates you’ll be charged.

Interesting Facts and Statistics about Payday Loans in Alberta, Minnesota:

  • The average payday loan amount in Minnesota is $380
  • Minnesota has 70 licensed payday lenders
  • In 2019, payday lenders in Minnesota charged an average interest rate of 199%

Apply Now

If you find yourself in need of a payday loan in Alberta, Minnesota, TheGuaranteedLoans is here to help. We connect borrowers with potential lenders, making it easy to find the right loan for your needs. Fill out our online application today and get connected with a lender who can provide you with the cash you need.

Remember, TheGuaranteedLoans is a connection service and not a direct lender. We do not make credit decisions and are not responsible for the actions of our lenders.

Conclusion

While payday loans can be a quick solution to an unexpected expense, they also come with high fees and interest rates. If you’re considering a payday loan in Alberta, Minnesota, make sure you understand the legal regulations in place and the terms of the loan you’re agreeing to. And remember, it’s important to only borrow what you can afford to repay.

F.A.Q.

Can I be charged late fees for a payday loan in Alberta, Minnesota?

Yes, late fees may be charged for a payday loan in Alberta, Minnesota if the loan is not paid on time.

Can a payday lender garnish my wages if I fail to repay the loan?

No, a payday lender cannot garnish your wages in Alberta, Minnesota unless they obtain a court order.