Payday Loans in Cottage Grove, Minnesota

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Payday Loan Companies in Cottage Grove, MN

Company nameAddressZip codePhone number
Ashland Credit Union 8711 E Point Douglas Rd S 55016 +1 (651) 256 - 0820
TCF Bank 7155 E Point Douglas Rd 55016 +1 (800) 823 - 2265
TCF Bank 8690 E Point Douglas Rd S 55016 +1 (800) 823 - 2265
U.S. Bank ATM - Cottage Grove 7200 80th St S 55016 +1 (800) 872 - 2657
U.S. Bank ATM - Walgreens 7135 E Point Douglas Rd S 55016 +1 (800) 872 - 2657

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cottage Grove, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Duluth, MN, Bad Credit Loans in Eden Prairie, MN, Short-term Loans in Inver Grove Heights, MN, Short-term Loans in Lakeville, MN, Payday Loans in Mankato, MN, Payday Loans in Minneapolis, MN, No Credit Check Loans in Minnetonka, MN and Payday Loans in Moorhead, 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 Cottage Grove, MN.

Beautiful sights of Cottage Grove, MN

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

55016

Are Payday Loans Legal In Cottage Grove, 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

Cottage Grove, MN payday loan calculator

What are Payday Loans in Cottage Grove, Minnesota?

Payday loans are short-term loans that are taken to meet unexpected financial needs. They are also referred to as cash advances, and they are legal in Minnesota. These loans are secured by a personal check or direct debit authorization and are generally due on the borrower’s next payday. Payday loans in Cottage Grove, Minnesota are available to those who need them, either through a traditional storefront or online lenders.

Who Can Get a Payday Loan in Cottage Grove, Minnesota?

Payday loans in Cottage Grove, Minnesota are available to those who meet certain criteria. First, the borrower must be at least 18 years of age and a resident of Minnesota. The applicant must also demonstrate that they have a steady source of income and a valid checking account. Additionally, the borrower must provide the payday lender with proof of employment and income, such as a pay stub.

What Are the Benefits of Payday Loans?

Payday loans can be a great way to bridge the gap between paychecks, particularly for those with less than perfect credit. They are usually quite easy to apply for and typically have quick approval times. They have relatively low qualifications, so almost anyone can qualify. They also do not require collateral, unlike other types of loans.

What Is the Cost and Process for Payday Loans?

Payday loans generally come with high fees and interest rates. The exact cost varies depending on the state laws and the loan amount. In general, the loan will be due on the borrower’s next payday, and the lender will automatically withdraw the full amount on that day. However, if the borrower is unable to repay the loan on time, most payday lenders will allow the borrower to extend the loan for a fee.

Are There Regulations Governing Payday Loans in Cottage Grove, Minnesota?

Minnesota has put in place several regulations to protect borrowers from predatory lending practices. The state has put a cap on the maximum amount of fees and interest that can be charged for a payday loan, as well as a limit on the number of outstanding payday loans a borrower can have at any given time. Additionally, all payday lenders must be licensed by the state. If a borrower is having trouble paying back the loan, they should contact their lender and the state regulator, the Minnesota Department of Commerce.

Apply Now

If you are in need of quick cash, consider applying for a payday loan in Cottage Grove, Minnesota. TheGuaranteedLoans is not a lender, but we can connect you with lenders for further action. All you have to do is fill out an online application and we will do the rest. Apply now to get started!

Frequently Asked Questions

What are the qualifications for a payday loan?

The qualifications for payday loans in Cottage Grove, Minnesota vary from lender to lender, but generally the borrower must be at least 18 years of age, a resident of Minnesota, have a steady source of income, and a valid checking account.

Are there limits on the amount I can borrow?

The maximum amount of a payday loan that can be borrowed in Minnesota is $350. There is a limit on the number of outstanding payday loans a borrower can have at any given time as well.

Are payday loans regulated in Minnesota?

Yes, payday loans in Minnesota are regulated by the state. All payday lenders must be licensed by the state, and the state has put regulations in place to protect borrowers from predatory lending practices.

More F.A.Q.

How long do I have to repay a payday loan in Cottage Grove, Minnesota?

The repayment period for a payday loan in Cottage Grove, Minnesota is typically between 7 and 30 days.

Are there any restrictions on the number of payday loans I can have at one time in Cottage Grove, Minnesota?

Yes, in Cottage Grove, Minnesota, borrowers are limited to having no more than one outstanding payday loan at a time.

How Many Cash Advance Companies are in Cottage Grove, MN?

With the help of our service, you will be able to find 5 cash advance companies in Cottage Grove, MN

What Cash Advance Companies in Cottage Grove, MN are the most popular?

You should check TCF Bank, Ashland Credit Union, and U.S. Bank ATM - Cottage Grove. Also, you can start your application online on our website.