Payday Loans in Elrosa, Minnesota

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

Company nameAddressZip codePhone number
Bremer Bank 318 1st Ave SW 120, Rochester, MN 55902 +1 (507) 424 - 8282
Woodlands National Bank 26040 Main St, Zimmerman, MN 55398 +1 (763) 634 - 6030
City Auto Glass inside Boyer Motor Company 1162 Main St S, Sauk Centre, MN 56378 +1 (320) 352 - 2300
First National Bank of Bagley 31 E Central St, Bagley, MN 56621 +1 (218) 694 - 6233
Gary's Auto Glass Inc 6101 Lk Ida Way NW, Alexandria, MN 56308 +1 (320) 304 - 3929
Farmers & Merchants State Bank 11 N Walker Ave, New York Mills, MN 56567 +1 (218) 385 - 2300
New York Life 2320 US-12 7, Willmar, MN 56201 +1 (320) 235 - 4557
Walmart Money Center 2103 N State St, Waseca, MN 56093
Northern Communities Credit Union 3311 W Arrowhead Rd, Duluth, MN 55811 +1 (218) 279 - 3200
U.S. Bank ATM 2400 Maple Grove Rd, Duluth, MN 55811 +1 (800) 872 - 2657

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Elrosa, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Andover, MN, Payday Loans in Burnsville, MN, Short-term Loans in Cottage Grove, MN, No Credit Check Loans in Duluth, MN, Same Day Loans in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Payday Loans 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 Elrosa, MN.

Beautiful sights of Elrosa, MN

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

56325

Are Payday Loans Legal In Elrosa, 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

Elrosa, MN payday loan calculator

Payday Loans in Elrosa, Minnesota – A Comprehensive Guide

When life throws unexpected expenses your way, a payday loan can be a simple and convenient solution to help bridge the gap until your next paycheck. While payday loans may come with higher interest rates compared to traditional loans, they can be an excellent option for those who need cash quickly.

Are Payday Loans Legal in Minnesota?

Yes, payday loans are legal in Minnesota, but they are subject to certain regulations and restrictions. The Minnesota Department of Commerce oversees the payday lending industry in the state, and lenders must obtain a license to operate. Furthermore, there are limits on the amount a borrower can take out, the fees a lender can charge, and the length of time a loan can be extended.

How Do Payday Loans Work in Elrosa?

Payday loans are designed to be a short-term solution for emergency cash needs. In order to qualify for a payday loan in Elrosa, you’ll need to meet a few requirements:

  • Be at least 18 years old
  • Have a valid government-issued ID
  • Provide proof of income and employment
  • Have an active checking account

If you meet these requirements, you can apply for a payday loan from a lender in Elrosa or online. The application process typically takes just a few minutes, and you can receive a decision on your loan almost instantly. If approved, you can receive the funds in your bank account within a day or two.

The Pros and Cons of Payday Loans in Elrosa

Pros:

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

Cons:

  • High interest rates and fees
  • Short repayment terms
  • Can lead to a cycle of debt if not used responsibly

Interesting Facts and Statistics

According to a report by the Minnesota Department of Commerce, the average payday loan in Minnesota is $380, and the average borrower takes out 10 loans per year. Furthermore, the report found that the average APR for payday loans in Minnesota was 199%, with some lenders charging rates as high as 1,200%. These statistics highlight the importance of understanding the terms and fees associated with payday loans before taking one out.

Apply Now

If you need a payday loan in Elrosa, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and you can get a decision on your loan almost instantly. Remember, TheGuaranteedLoans is a connector service and not a direct lender. We’ll facilitate your connection with potential lenders who can provide you with the emergency cash you need. Apply now and get the financial help you need.

F.A.Q.

Are there any nonprofit organizations or government agencies that offer financial assistance in Elrosa, Minnesota?

Yes, there are nonprofit organizations and government agencies in Elrosa, Minnesota that offer financial assistance to individuals in need. These include organizations such as the Minnesota Office of Higher Education and the Minnesota Department of Human Services.

What are the eligibility requirements for payday loans in Elrosa, Minnesota?

To be eligible for a payday loan in Elrosa, Minnesota, you must be at least 18 years old and have a regular source of income.