Payday Loans in Eagle Bend, Minnesota

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

Company nameAddressZip codePhone number
Wells Fargo Bank 401 Plum St, Red Wing, MN 55066 +1 (651) 388 - 6751
First State Bank 3209 S Service Dr, Red Wing, MN 55066 +1 (651) 388 - 4714
Central Minnesota Credit Union 80 Jefferson St S, Wadena, MN 56482 +1 (888) 330 - 8482
Raymond James Financial Services 3131 S Frontage Rd, Moorhead, MN 56560 +1 (701) 492 - 2625
Jackson Hewitt Tax Service 2301 E Frontage Rd, Litchfield, MN 55355 +1 (320) 849 - 3005
Northview Bank 411 S Pokegama Ave, Grand Rapids, MN 55744 +1 (218) 326 - 5145
KodaBank 101 5th St, Kennedy, MN 56733 +1 (218) 674 - 4179
United States Postal Service 500 McGrann St, Green Isle, MN 55338 +1 (800) 275 - 8777
Legacy Capital Wealth Management LLC 255 MN-97 1a, Forest Lake, MN 55025 +1 (651) 982 - 1115
Insurance Brokers of MN Clark Johnson 1545 1st Ave E, Cambridge, MN 55008 +1 (763) 689 - 9491

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eagle Bend, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Minneapolis, MN, Payday Loans in Minnetonka, MN, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Payday Loan Without a Credit Check in Saint Cloud, MN, Guaranteed Loans in Saint Paul, MN, Payday Loans in Savage, MN and Payday 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 Eagle Bend, MN.

Beautiful sights of Eagle Bend, MN

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

56446

Are Payday Loans Legal In Eagle Bend, 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

Eagle Bend, MN payday loan calculator

Payday Loans in Eagle Bend, Minnesota: What You Need to Know

If you’re facing a financial emergency in Eagle Bend, Minnesota, you may be considering taking out a payday loan. These types of loans can provide immediate cash to cover unexpected expenses, but they come with high interest rates and fees. Here’s what you need to know before you apply for a payday loan in Eagle Bend.

What are Payday Loans?

Payday loans are short-term loans that typically require repayment within two weeks or until your next payday. They are designed to provide quick access to cash for people who may not have access to traditional loans or credit lines.

In Minnesota, payday loans are legal, but they are regulated to protect consumers from predatory lending practices. The state limits payday loans to a maximum of $350, with interest rates capped at 33% per year. Lenders are also required to be licensed with the state and to provide borrowers with certain disclosures and consumer protections.

How Do Payday Loans Work?

Applying for a payday loan is typically a simple and quick process. You’ll need to provide basic personal information, proof of income, and a valid ID. Once you’re approved, you’ll receive the cash you need, either in person or deposited into your bank account.

On your due date, the lender will automatically withdraw the amount you borrowed plus any fees and interest from your bank account. If you can’t repay the loan on time, the lender may offer you an extension or a rollover, but this will come with additional fees and interest.

It’s important to remember that payday loans are not a long-term financial solution. They should only be used in emergencies and repaid as soon as possible to avoid accumulating high fees and interest charges.

Pros and Cons of Payday Loans

Like any financial product, payday loans come with both benefits and drawbacks. Here are some pros and cons to consider before you apply:

Pros:

  • Easy application process
  • Quick access to cash
  • No credit check required
  • No collateral required

Cons:

  • High interest rates and fees
  • Short repayment terms
  • Potential for debt cycle if not repaid on time
  • May lead to overdraft fees if automatic withdrawal causes your bank account to become overdrawn

Interesting Facts and Statistics About Payday Loans in Eagle Bend, Minnesota

  • As of 2021, there are over 20 licensed payday loan lenders operating in Minnesota
  • In 2020, the average payday loan amount in Minnesota was $307
  • The average APR for a payday loan in Minnesota is around 200%
  • Approximately 20% of payday loans in Minnesota are rolled over or extended

Apply Now

If you’ve considered the pros and cons and decide that a payday loan is right for you, TheGuaranteedLoans can help. As a connector service, we can match you with potential lenders who may be able to provide you with the cash you need. Our application process is quick and easy, and we’ll work to get you a response as soon as possible. Remember, payday loans should only be used in emergencies and should be repaid as soon as possible to avoid additional fees and interest. Apply now and take control of your finances today.

F.A.Q.

Can payday lenders garnish my wages in Eagle Bend, Minnesota?

No, payday lenders in Eagle Bend, Minnesota are not allowed to garnish your wages if you default on a loan.

Can payday lenders seize my property in Eagle Bend, Minnesota?

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