Payday Loans in Comstock, Minnesota

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

Company nameAddressZip codePhone number
Thrivent Financial 110 S Broad St, Mankato, MN 56001 +1 (507) 304 - 8000
Alerus 11100 Wayzata Blvd 570, Minnetonka, MN 55305 +1 (952) 417 - 3700
First Farmers & Merchants Bank 425 Main St W, Cannon Falls, MN 55009 +1 (507) 263 - 0630
Freeport State Bank 219 E Main St, Melrose, MN 56352 +1 (320) 256 - 7208
21st Century Bank 699 N Medina St, Loretto, MN 55357 +1 (763) 479 - 2178
Jackson Hewitt Tax Service 107 E 4th St, Crookston, MN 56716 +1 (218) 281 - 9914
SPIRE Credit Union - Elk River 17035 Yale Ct NW, Elk River, MN 55330 +1 (651) 215 - 3500
KO Storage of Maple Lake Lumber 27 Maple Ave N, Maple Lake, MN 55358 +1 (320) 310 - 0819
Laurie Whitlow, NMLS: 340563, PrimeLending 119 1st St SE 1/2, Little Falls, MN 56345 +1 (320) 632 - 2237
U.S. Bank ATM - Blooming Prairie 236 Main St E, Blooming Prairie, MN 55917 +1 (800) 872 - 2657

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Comstock, MN, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Andover, MN, Payday Loans in Burnsville, MN, Payday Loans in Cottage Grove, MN, Quick Loan in Duluth, MN, Guaranteed Loans in Eden Prairie, MN, Emergency Loan in Inver Grove Heights, MN, Quick Loan in Lakeville, MN and Payday Loans 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 Comstock, MN.

Beautiful sights of Comstock, MN

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

56525

Are Payday Loans Legal In Comstock, 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

Comstock, MN payday loan calculator

Demystifying Payday Loans in Comstock, Minnesota

Payday loans offer a quick source of financing to those in urgent need of money. Typically, they are short-term loans that require the borrower to repay the debt plus interest on their next payday.

While it is legal to obtain payday loans in Comstock, Minnesota, borrowers should understand the risks associated with these loans before applying.

The Basics of Payday Loans in Comstock, Minnesota

Payday loans are regulated in the state of Minnesota. The maximum loan amount that a borrower can obtain is $350, and they must repay the amount plus fees within two weeks. The maximum amount of interest that a lender can charge on a payday loan is 33%.

If a borrower cannot repay their payday loan on time, they may request an extension of up to 30 days. However, be aware that extending the loan term further may lead to additional fees and interest charges, which can result in a cycle of debt for the borrower.

Benefits of Payday Loans in Comstock, Minnesota

In situations where an individual needs money urgently, payday loans can be a lifesaver. Unlike traditional bank loans, payday lenders don’t require a credit check for approval, making them accessible to those with poor credit or no credit history. Additionally, they have a quick application process and can disburse funds within a day.

Negative Aspects of Payday Loans in Comstock, Minnesota

While payday loans can be tempting for those who need immediate funds, they come with some significant drawbacks. As mentioned earlier, the fees and interest rates on these loans can be exorbitant.

Additionally, payday lenders may require access to the borrower’s bank account to withdraw funds automatically, and any overdraft fees charged by the bank due to insufficient funds can result in further financial hardship. Furthermore, if the borrower is unable to repay the loan, it can lead to a cycle of debt that can be challenging to break free from.

Interesting Facts About Payday Loans in Comstock, Minnesota

  • According to a study by the Consumer Financial Protection Bureau, around 80% of payday loans are rolled over within two weeks, leading to additional fees and interest charges.
  • The average payday loan borrower takes out eight loans per year and remains in debt for five months out of the year.
  • Minnesota-based payday lenders made $82.6 million in profits from 2012 to 2015, according to a report published by MinnPost.

Applying for a Payday Loan with TheGuaranteedLoans

TheGuaranteedLoans is a trusted connector service for payday loans and other forms of short-term financing. As a lender connecting service, TheGuaranteedLoans does not directly offer loans. Instead, we connect borrowers with potential lenders who may be able to meet their financing needs.

Applying for a payday loan with TheGuaranteedLoans is quick and straightforward. All you need to do is provide us with some basic information, and we will forward your application to our lender network. If a lender approves your application, they will contact you directly to arrange the terms and conditions of the loan.

Keep in mind that payday loans should only be used as a last resort and should never be taken out for non-essential expenses. Before applying, make sure you understand the terms and conditions of the loan and the total cost of borrowing.

If you meet the eligibility criteria for payday loans and require a quick source of financing, apply now for a payday loan with TheGuaranteedLoans. We understand that the financial needs of borrowers vary widely, and we work tirelessly to connect them with lenders that meet their specific requirements.

Final Thoughts on Payday Loans in Comstock, Minnesota

Payday loans can provide a quick solution to those in need of immediate funds, but they should be approached with caution. The high fees and interest rates associated with these loans can be a financial burden, leading to further financial hardship for the borrower.

As a connector service, TheGuaranteedLoans strives to educate borrowers about the risks and benefits of payday loans in Comstock, Minnesota, and help them make informed decisions based on their unique financial situation.

F.A.Q.

What information do I need to provide to get a payday loan in Comstock, Minnesota?

To get a payday loan in Comstock, Minnesota, you will need to provide proof of income, identification, and a post-dated check or authorization to withdraw funds from your bank account.

Can I apply for a payday loan online in Comstock, Minnesota?

Yes, you can apply for a payday loan online in Comstock, Minnesota, but the lender must be licensed to operate in the state.