Payday Loans in Dakota, Minnesota

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

Company nameAddressZip codePhone number
United Savings Credit Union 1407 US-10, Dilworth, MN 56529 +1 (701) 356 - 1360
U.S. Bank Branch 715 Cloquet Ave, Cloquet, MN 55720 +1 (218) 878 - 7878
U.S. Bank Branch 1712 Pine Cone Rd S, Sartell, MN 56377 +1 (320) 259 - 7560
TCF Bank 435 Water St, Excelsior, MN 55331 +1 (800) 823 - 2265
American National Bank of MN 100 Highland Ave, Walker, MN 56484 +1 (218) 547 - 2850
Glenwood State Bank 440 Washington Ave, Villard, MN 56385 +1 (320) 554 - 3021
North Shore Federal Credit Union 404 7th Ave, Two Harbors, MN 55616 +1 (218) 834 - 3836
Thrivent Financial 189 2nd Ave SW, Cambridge, MN 55008
Ultima Bank Minnesota 603 Hilligoss Blvd SE, Fosston, MN 56542 +1 (218) 435 - 2265
Frost State Bank 205 Main St, Frost, MN 56033 +1 (507) 878 - 3203

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dakota, 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 Loans in Minnetonka, MN, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Online Loans in Saint Cloud, MN, Guaranteed Loans in Saint Paul, MN, Online Loans in Savage, MN and 24-Hour Loan 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 Dakota, MN.

Beautiful sights of Dakota, MN

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

55925

Are Payday Loans Legal In Dakota, 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

Dakota, MN payday loan calculator

Understanding Payday Loans in Dakota, Minnesota

Payday loans are one type of short-term loan that is popular in Dakota, Minnesota. These loans are designed to provide individuals with quick and easy access to money when they need it most. While payday loans can be a helpful financial tool in certain situations, it’s important to understand the risks and benefits associated with them before applying.

What is a payday loan?

A payday loan is a type of short-term loan that is typically due on the borrower’s next payday. These loans are commonly used to cover unexpected expenses, such as medical bills or car repairs. Payday loans are usually small-dollar loans, often ranging from $100 to $500, and they come with high interest rates and fees.

How do payday loans work in Dakota, Minnesota?

Payday loans are legal in Dakota, Minnesota, and there are several lenders available in the area. To apply for a payday loan, borrowers must typically provide proof of income and a valid checking account. Once approved, borrowers receive the loan amount in cash or deposited directly into their bank account. The loan is due on the borrower’s next payday, usually within 14 days, along with interest and fees.

What are the risks and benefits of payday loans?

Like all types of loans, payday loans come with benefits and risks. One benefit is that payday loans provide quick and easy access to cash, which can be helpful in times of financial hardship. Another benefit is that payday loans are often more accessible than other types of loans, as they do not require a credit check.

However, there are also significant risks associated with payday loans. The high-interest rates and fees associated with payday loans can quickly add up, making it difficult for borrowers to repay the loan and get back on their feet financially. In addition, payday loans can trap borrowers in a cycle of debt, as borrowers often have to take out additional loans to repay the initial loan.

What are the regulations surrounding payday loans in Dakota, Minnesota?

Payday loans are legal in Dakota, Minnesota, but the state does have regulations in place to protect borrowers. For example, lenders must be licensed with the state, and they must disclose the terms of the loan to borrowers before they sign a contract. In addition, lenders cannot charge interest rates of more than 33% APR on payday loans.

Interesting Facts and Statistics About Payday Loans in Dakota, Minnesota

  • Minnesota is one of 36 states that allow payday lending.
  • The average payday loan in Minnesota is $380.
  • Minnesota law requires lenders to disclose the APR of the loan before the borrower signs the contract.
  • The maximum loan amount for payday loans in Minnesota is $350.
  • Minnesota law caps the interest rate on payday loans at 33% APR.

Apply Now

If you’re in need of a payday loan in Dakota, Minnesota, TheGuaranteedLoans can help you connect with potential lenders. Simply fill out our online application form, and we’ll forward your information to our network of lenders. Please note that TheGuaranteedLoans is a connector service, not a direct lender.

Before applying for a payday loan, it’s important to carefully consider your options and make sure you understand the risks and benefits associated with this type of loan.

When you’re ready to apply for a payday loan in Dakota, Minnesota, visit TheGuaranteedLoans website and submit your application today.

F.A.Q.

Can payday lenders seize my property in Dakota, Minnesota?

No, payday lenders in Dakota, Minnesota are not allowed to seize your property as collateral for a loan.

Are payday loans in Dakota, Minnesota regulated by the state government?

Yes, payday lending is regulated by the Minnesota Department of Commerce.