Payday Loans in Alvarado, Minnesota

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

Company nameAddressZip codePhone number
United States Postal Service 126 S Front St SW, Eyota, MN 55934 +1 (800) 275 - 8777
TCF Bank 1198 Vierling Dr E, Shakopee, MN 55379 +1 (800) 823 - 2265
Insurance Brokers of MN Clark Johnson 1545 1st Ave E, Cambridge, MN 55008 +1 (763) 689 - 9491
Enger Abstract Co 508 1st Dr NW, Austin, MN 55912 +1 (507) 433 - 9020
Michele Brandt - Fairway Independent Mortgage Corp NMLS 452483 19021 Freeport St 500, Elk River, MN 55330 +1 (612) 269 - 9728
TCF Bank 8690 E Point Douglas Rd S, Cottage Grove, MN 55016 +1 (800) 823 - 2265
U.S. Bank Branch 1 Village Pkwy, Circle Pines, MN 55014 +1 (763) 786 - 2500
First State Bank and Trust 950 MN-95, Bayport, MN 55003 +1 (651) 439 - 5195
Thrivent Financial 216 N Main St, Blue Earth, MN 56013 +1 (507) 526 - 5000
HomeTown Bank 101 Creek Ln S, Jordan, MN 55352 +1 (952) 492 - 5599

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Alvarado, MN, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Minneapolis, MN, Quick Loan in Minnetonka, MN, Emergency Loan in Moorhead, MN, Payday Loans in Rochester, MN, Short-term Loans in Saint Cloud, MN, Payday Loans in Saint Paul, MN, Bad Credit Loans in Savage, MN and Bad Credit 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 Alvarado, MN.

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

56710

Are Payday Loans Legal In Alvarado, 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

Alvarado, MN payday loan calculator

Payday Loans in Alvarado, Minnesota: What You Need to Know

If you’re considering taking out a payday loan in Alvarado, Minnesota, then it’s important to know what you’re getting into. While payday loans can provide a quick financial solution for those in need of emergency funds, they can also come with high interest rates and fees. In this article, we’ll go over everything you need to know about payday loans in Alvarado, Minnesota.

What are Payday Loans?

Payday loans are a type of short-term loan that is typically due on your next payday. These loans are designed to provide quick cash to those who need it most. Payday loans are often used for unexpected expenses, such as medical bills, car repairs, or home repairs.

While payday loans can be a helpful solution in an emergency, it’s important to be aware of the potential risks involved. Payday loans often come with high interest rates and fees, which can make it difficult to pay back the loan on time.

Are Payday Loans Legal in Minnesota?

Yes, payday loans are legal in Minnesota. However, Minnesota has strict regulations in place to protect consumers from high interest rates and fees. According to the Minnesota Attorney General’s office, payday loans in Minnesota are limited to:

  • A maximum loan amount of $350.
  • A maximum loan term of 30 days.
  • Interest rates capped at 33%.
  • Additional fees, such as finance charges, cannot exceed 10% of the loan amount.

These regulations are in place to ensure that payday loan borrowers are not taken advantage of by lenders.

How to Apply for a Payday Loan in Alvarado, Minnesota

Applying for a payday loan in Alvarado, Minnesota is a quick and simple process. You’ll need to provide some basic information about yourself, including your name, address, and employment information. You’ll also need to provide proof of income and a valid bank account.

Once you’ve provided all of the necessary information, the lender will review your application and determine whether or not to approve your loan. If approved, you’ll receive your funds within one business day.

Interesting Facts and Statistics about Payday Loans in Alvarado, Minnesota

  • In 2019, the average payday loan borrower in Minnesota took out 10 loans throughout the year.
  • The average payday loan amount in Minnesota was $411 in 2019.
  • The total amount of payday loans borrowed in Minnesota in 2019 was $149 million.
  • 18% of payday loan borrowers in Minnesota end up defaulting on their loan.

Apply Now

If you’re in need of emergency funds in Alvarado, Minnesota, then TheGuaranteedLoans can help. We are a connector service that partners with reputable lenders to provide you with the loan you need. Our online application process is quick and easy, and you’ll receive your funds within one business day if approved.

It’s important to remember that payday loans should only be used as a last resort. If you’re struggling with debt or financial hardship, then it’s important to seek out other solutions, such as credit counseling or debt consolidation.

Note: TheGuaranteedLoans is not a direct lender and does not provide payday loans. We are a connector service that facilitates your connection with potential lenders.

The Bottom Line

Payday loans can be a helpful solution in an emergency, but they come with high interest rates and fees. If you’re considering taking out a payday loan in Alvarado, Minnesota, then it’s important to do your research and understand the potential risks and benefits involved. Remember to only take out a payday loan if you absolutely need it and can pay it back on time.

F.A.Q.

Are there any limits on the amount I can borrow?

Yes, the maximum amount you can borrow is $350 in Alvarado, Minnesota.

How long do I have to repay the loan?

You must repay the loan within 30 days.