Payday Loans in Callaway, Minnesota

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

Company nameAddressZip codePhone number
Citizens Bank Minnesota 701 Main Ave 4401, Lafayette, MN 56054 +1 (507) 228 - 8283
Thrivent Financial-Lutherans 268 S Main St, Zumbrota, MN 55992 +1 (507) 732 - 7499
Haburn CPA, LLC 1124 3rd Ave E, Alexandria, MN 56308 +1 (320) 762 - 0204
Wintrust Mortgage 3552 West River Pkwy NW, Rochester, MN 55901 +1 (507) 252 - 5626
TruStone Financial Credit Union 1400 Riverwood Dr, Burnsville, MN 55337 +1 (800) 862 - 1998
Skelly Timothy J CPA 220 South 6th St UNIT 300, Minneapolis, MN 55402 +1 (612) 376 - 4509
Old National Bank 19943 County Rd 43, Big Lake, MN 55309 +1 (763) 262 - 3661
Trades & Labor Federal CU 610 S Broadway Ave, Albert Lea, MN 56007 +1 (507) 377 - 1863
Insurance Brokers of MN Chad Nelson 31061 Front St, Pequot Lakes, MN 56472 +1 (218) 568 - 4620
Walmart Money Center 1200 18th Ave NW, Austin, MN 55912

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Callaway, 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 Loan Without a Credit Check in Minnetonka, MN, 24-Hour Loan in Moorhead, MN, Payday Loans in Rochester, MN, Payday Loans in Saint Cloud, MN, Guaranteed Loans in Saint Paul, MN, Short-term Loans in 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 Callaway, MN.

Beautiful sights of Callaway, MN

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

56521

Are Payday Loans Legal In Callaway, 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

Callaway, MN payday loan calculator

Understanding Payday Loans in Callaway, Minnesota

When you’re facing financial difficulties and need to access cash quickly, payday loans are a popular option. They offer a quick and easy way to borrow money, which can be especially useful if you need to cover unexpected expenses or bills. In this article, we’ll take a closer look at payday loans in Callaway, Minnesota, and what you need to know before you apply.

What are payday loans?

Payday loans are short-term loans designed to cover the borrower’s expenses until their next payday. They are usually small amounts, usually ranging from $100 to $1,000, and are intended to be repaid in full on the borrower’s next payday, usually within two to four weeks of taking out the loan.

Payday loans are popular because they are easy to access. They typically have fewer requirements than traditional bank loans, and the lender may not do a credit check. This makes them an attractive option for people with poor credit or no credit history. However, payday loans also come with high interest rates and fees, making them a more expensive form of borrowing than other types of loans.

Are payday loans legal in Minnesota?

Payday loans are legal in Minnesota, but they are subject to certain regulations. Lenders must be licensed to operate in the state, and they are required to abide by state laws and regulations regarding interest rates and fees.

Minnesota law caps the interest rates that payday lenders can charge at 33%. Lenders are also restricted in the amount they can charge in fees. If you take out a payday loan in Minnesota, you can expect to pay a finance charge of up to $30 per $100 borrowed.

It’s important to note that if you default on a payday loan in Minnesota, the lender is not allowed to charge you additional fees or interest. However, they can still take legal action to collect on the loan.

How to apply for a payday loan in Callaway, Minnesota

If you decide that a payday loan is the right option for you, the process of applying is relatively simple. You can apply online or in person at a payday loan store. The lender will ask for some basic information, such as your name, address, and employment information.

Before you apply, it’s important to understand the terms of the loan and the fees associated with it. Make sure you read all of the fine print carefully and ask any questions you may have before signing the loan agreement.

Apply for a payday loan on TheGuaranteedLoans website

At TheGuaranteedLoans, we offer a connection service that can help you find a payday lender in Callaway, Minnesota. We are not a direct lender, but we work with a network of reputable lenders who can help you get the cash you need.

If you’re interested in applying for a payday loan, simply fill out the online application on our website. We’ll then match you with a lender who is best suited to meet your needs. The process is quick and easy, and you can have access to your funds in as little as one business day.

Interesting Facts about Payday Loans in Callaway, Minnesota

  • The average payday loan in Minnesota is for $380, and the typical loan term is 14 days.
  • Minnesota has some of the strictest rules and regulations when it comes to payday lending. The state has capped interest rates at 33%, which is much lower than other states.
  • According to a study by the Minnesota Commerce Department, more than 50% of payday loans in the state are taken out by borrowers who take out 10 or more loans per year.
  • The payday lending industry is a $2 billion industry in Minnesota.

Final Thoughts

Payday loans can be a useful option for people who need to access cash quickly. However, they come with high interest rates and fees, making them a more expensive form of borrowing than other types of loans. Before you apply for a payday loan, it’s important to understand the terms of the loan and the fees associated with it. Consider all of your options before making a decision, and always borrow responsibly.

Apply for a payday loan today on TheGuaranteedLoans website and get connected with a lender who can help you get the cash you need.

F.A.Q.

Can I take out multiple payday loans at the same time in Callaway, Minnesota?

No, Minnesota law limits consumers to only one outstanding payday loan at a time.

Are there any options for borrowers who are unable to repay their payday loan in Callaway, Minnesota?

Yes, borrowers who are unable to repay their payday loan can contact the Minnesota Department of Commerce for assistance and information about alternative forms of credit.