Payday Loans in Dundas, Minnesota

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

Company nameAddressZip codePhone number
Mid Minnesota Federal Credit Union - Aitkin 961 2nd St NW, Aitkin, MN 56431 +1 (218) 928 - 8001
BMO Harris Bank 761 W 78th St, Chanhassen, MN 55317 +1 (952) 698 - 1400
United States Postal Service 500 McGrann St, Green Isle, MN 55338 +1 (800) 275 - 8777
TCF Bank 14075 Hwy 13 S, Savage, MN 55378 +1 (800) 823 - 2265
Vermillion State Bank 107 Main St E, Vermillion, MN 55085 +1 (651) 437 - 4433
Frost State Bank 205 Main St, Frost, MN 56033 +1 (507) 878 - 3203
Comfort Keepers In Home Care 1200 MN-25 Suite 108, Buffalo, MN 55313 +1 (763) 450 - 1500
United States Postal Service 148 Broadway Ave S, Shevlin, MN 56676 +1 (800) 275 - 8777
Pawn America 770 1st Ave SE, Rochester, MN 55904 +1 (507) 529 - 1227
Raymond James Financial Services 115 Litchfield Ave SE, Willmar, MN 56201 +1 (320) 235 - 1416

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dundas, MN, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Andover, MN, Payday Loan for Burnsville, MN, Payday Loans in Cottage Grove, MN, Emergency Loan in Duluth, MN, Payday Loan Without a Credit Check in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Payday Loans in Lakeville, MN and Guaranteed 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 Dundas, MN.

Beautiful sights of Dundas, MN

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

55019

Are Payday Loans Legal In Dundas, 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

Dundas, MN payday loan calculator

Understanding Payday Loans in Dundas, Minnesota: A Comprehensive Guide

Payday loans are short-term loans that are designed to provide financial assistance to individuals who are facing unexpected expenses. These loans are typically small-dollar, high-interest loans that are due to be repaid within two weeks to one month. They are often used by individuals who are unable to obtain credit from traditional lenders, such as banks or credit unions.

The Legal Status of Payday Loans in Minnesota

Payday loans are legal in Minnesota under certain conditions. In the state, payday lenders are required to be licensed by the Minnesota Department of Commerce, and they must follow the provisions of the Minnesota Consumer Short-Term Loan Act. This act requires lenders to provide certain disclosures, such as the finance charge and the annual percentage rate (APR), to borrowers. In addition, payday lenders are limited in the amount of interest they can charge on loans under $350. For loans of $350 or above, the interest rate is capped at 33% per year.

The Cost of Payday Loans in Dundas, Minnesota

While payday loans may be a quick and easy way to get cash, they can come with high costs. In Minnesota, the finance charges on payday loans are typically between $15 and $30 for every $100 borrowed. This means that if you borrow $500, you may have to pay back up to $150 in finance charges. In addition, if you are unable to repay the loan on time, you may face additional fees and charges.

The Benefits of Payday Loans in Dundas, Minnesota

Despite their high costs, payday loans can be beneficial for some individuals. They are often more accessible than traditional loans, as they do not require a credit check or collateral. In addition, payday loans can be obtained quickly, often within a few hours. This makes them a good option for individuals who are facing emergency expenses, such as a car repair or a medical bill.

The Risks of Payday Loans in Dundas, Minnesota

While payday loans can be helpful in the short-term, they can also lead to long-term financial problems. This is because their high costs can make it difficult for borrowers to repay the loan on time. If a borrower is unable to repay the loan, they may be trapped in a cycle of debt that can be difficult to escape. In addition, payday loans can lead to overdraft fees and other financial problems if they are not used responsibly.

Interesting Facts about Payday Loans in Dundas, Minnesota

  • In Minnesota, payday lenders are required to provide borrowers with a written agreement that discloses the terms and conditions of the loan.
  • According to the Minnesota Department of Commerce, the average payday loan in Minnesota is for $380 and has an APR of 277%.
  • Between 2010 and 2019, the number of payday lenders in Minnesota decreased from 111 to 76.

Apply Now with TheGuaranteedLoans

If you are interested in obtaining a payday loan in Dundas, Minnesota, TheGuaranteedLoans can help. As a connector service, we can help you connect with potential lenders who may be able to provide you with the cash you need. To get started, simply fill out an online application on our website. Remember, TheGuaranteedLoans is not a direct lender, but we will work to facilitate your connection with lenders who may be able to assist you.

Conclusion

Payday loans can be a helpful tool for individuals who are facing unexpected expenses. However, it is important to use them responsibly and to understand the costs and risks associated with them. By following the guidelines set forth by the Minnesota Department of Commerce and using TheGuaranteedLoans as a resource, you can make informed decisions about your financial future.

F.A.Q.

Is there a cooling-off period after I repay a payday loan in Dundas, Minnesota?

Yes, after you repay a payday loan in Dundas, Minnesota, you must wait seven days before taking out another loan.

Can I be charged with criminal charges for defaulting on a payday loan in Dundas, Minnesota?

No, payday lenders in Dundas, Minnesota are not allowed to file criminal charges against borrowers for defaulting on a loan.