Payday Loans in Bejou, Minnesota

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

Company nameAddressZip codePhone number
Walmart Money Center 1130 Frontage Rd W, Owatonna, MN 55060 +1 (507) 455 - 0049
Thrivent Financial-Lutherans 1822 4th St S, Sauk Centre, MN 56378 +1 (320) 352 - 2549
Split Rock Partners 10400 Viking Dr 250, Eden Prairie, MN 55344 +1 (952) 995 - 7474
Raymond James Financial Services 812 Main St NW, Elk River, MN 55330 +1 (763) 441 - 2200
Bremer Mortgage 45 28th St SE, Rochester, MN 55904 +1 (507) 529 - 1515
Freedom Mortgage 12701 Whitewater Dr 300, Hopkins, MN 55343
UnBank Check Cashing & Loans- Downtown Minneapolis 727 Hennepin Ave, Minneapolis, MN 55403 +1 (612) 843 - 5212
Greater Fergus Falls 403 S Union Ave Suite 10, Fergus Falls, MN 56537 +1 (218) 321 - 2079
St Cloud Federal Credit Union 1716 Pine Cone Rd S, Sartell, MN 56377 +1 (320) 252 - 2634
NorthRock Partners 218 3rd Ave E 102, Alexandria, MN 56308 +1 (320) 762 - 1880

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bejou, 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 Loans in Burnsville, MN, Payday Loans in Cottage Grove, MN, Emergency Loan in Duluth, MN, Payday Loans in Eden Prairie, MN, Payday Loan for Inver Grove Heights, MN, Payday Loans in Lakeville, MN and Payday Loan Without a Credit Check 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 Bejou, MN.

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

56516

Are Payday Loans Legal In Bejou, 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

Bejou, MN payday loan calculator

Understanding Payday Loans in Bejou, Minnesota

If you live in Bejou, Minnesota, and you are in need of quick cash, payday loans can be a viable option. Payday loans are legal in Minnesota and can provide access to small sums of money when traditional sources of credit are unavailable. In this article, we will discuss everything you need to know about payday loans in Bejou, Minnesota, from how to apply to loan regulations.

What’s a Payday Loan?

A payday loan is a short-term, unsecured loan typically issued to borrowers with poor credit and low income. Payday loans are designed to cover unexpected expenses, emergencies, or bills that cannot wait until the next payday. These loans usually range from $100 to $1,000 and are paid back on the borrower’s next payday, hence the name “payday” loan.

Payday loans in Bejou, Minnesota, as in any other state, are regulated by state law. According to the Minnesota Consumer Small Loans Act, payday lenders in the state are not allowed to lend more than $350 to any borrower. Borrowers are required to pay back the loan in full when they receive their next paycheck. If the borrower cannot repay the loan on time, they may request additional time to pay, but this will result in additional charges and fees.

How to Apply for a Payday Loan in Bejou, Minnesota

Applying for a payday loan in Bejou, Minnesota is generally a straightforward process. Most lenders require borrowers to meet specific criteria, such as having a valid ID, an active checking account, and proof of income. Borrowers can either apply online or in-store and receive a decision in minutes.

At TheGuaranteedLoans, we work with a network of trusted lenders who offer payday loans in Bejou and surrounding areas. Our online application process is quick and easy, and we will connect you with a lender who can offer the best terms for your specific situation. If approved, you can receive your funds in as little as one business day.

The Pros and Cons of Payday Loans in Bejou, Minnesota

  • Pros: Payday loans are easy to obtain, have few requirements, and can be a quick solution to unexpected expenses. Borrowers with poor credit and low income can still qualify for these loans.
  • Cons: Payday loans carry high-interest rates and fees, and if the borrower cannot pay back the loan, they risk falling into a debt cycle. Borrowers who repeatedly take out payday loans may end up paying more in fees and interest than the original loan sum.

The Bottom Line

Payday loans in Bejou, Minnesota, can provide a lifeline to those who need quick cash and have no other options. However, as with any loan, borrowers should carefully consider the pros and cons before taking out a payday loan. If you are in need of a short-term loan, we encourage you to explore your options and apply through our website for a lender that fits your needs.

Interesting Facts and Statistics

  • Fact: Minnesota has some of the strongest payday lending laws in the country, with lenders prohibited from rolling over loans or charging additional fees for repayment plans.
  • Statistics: According to the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 or more loans per year, with 80% of loans re-borrowed within 14 days.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can hit anyone at any time. That’s why we offer a convenient and secure way to connect with lenders who offer payday loans in Bejou and surrounding areas. We are not a direct lender, but we facilitate your connection with potential lenders who can offer the best terms for your specific situation. Fill out our online application today and get the cash you need quickly and easily.

F.A.Q.

Is it possible to negotiate a payment plan with a payday lender in Bejou, Minnesota?

Yes, if you are unable to repay your payday loan in full by the due date, you can contact your lender to see if they are willing to negotiate a payment plan.

Are payday loans legal in Bejou, Minnesota?

Yes, payday loans are legal in Bejou, Minnesota.