Payday Loans in Essig, Minnesota

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

Company nameAddressZip codePhone number
Raymond James Financial Services 701 Atlantic Ave, Morris, MN 56267 +1 (320) 589 - 1424
Prins Bank 508 3rd St, Prinsburg, MN 56281 +1 (320) 978 - 6351
BANKWEST 5921 Main St, Rockford, MN 55373 +1 (763) 477 - 5231
Geneva Capital LLC 1311 Broadway St, Alexandria, MN 56308 +1 (320) 762 - 8400
Landwehr Tax & Accounting 62 10th Ave S, Waite Park, MN 56387 +1 (320) 203 - 0429
Wells Fargo Bank 220 E Elm Ave E, Waseca, MN 56093 +1 (507) 833 - 6940
Security Bank Minnesota 437 Bridge Ave, Albert Lea, MN 56007 +1 (507) 373 - 1481
Walmart Money Center 25 25th St SE, Rochester, MN 55904
First National Bank-Coleraine 600 Powell Ave, Coleraine, MN 55722 +1 (218) 245 - 1272
ATM Citizens Bank Of Olivia 802 E Lincoln Ave, Olivia, MN 56277 +1 (800) 627 - 3999

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Essig, 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

Essig, MN payday loan calculator

Payday Loans: A Comprehensive Guide for Essig, Minnesota Residents

In recent years, payday loans have become a popular option for people who need quick access to cash in an emergency. But what are payday loans and how do they work for Essig, Minnesota residents? In this article, we’ll take a closer look at payday loans and how they function in Essig, MN.

What Are Payday Loans?

Payday loans are a short-term loan option that provides cash to borrowers who need it quickly. These loans are designed to be paid back within a few weeks, typically on the borrower’s next payday. Payday loans are different from other types of loans because they require minimal qualifications and have a fast application process.

Are Payday Loans Legal in Minnesota?

Yes, payday loans are legal in Minnesota. However, the state has some regulations in place to protect borrowers from high-interest rates and excessive fees. The maximum loan amount in Minnesota is $350, and lenders cannot charge more than a 33% annual interest rate on loans up to $1,000. For loans over $1,000, the interest rate cannot exceed 24% per year.

How Do Payday Loans Work in Essig, Minnesota?

If you’re a resident of Essig, MN, and in need of quick cash, you can apply for a payday loan at one of the many lenders in the area. To apply for a payday loan, you’ll typically need to provide proof of income, a government-issued ID, and a checking account. You’ll also need to sign a loan agreement that outlines the terms and conditions of the loan.

If you’re approved for a payday loan, the lender will typically deposit the funds directly into your checking account. You’ll then be responsible for paying back the loan on your next payday, plus any fees and interest. It’s important to understand the terms of your loan and what your total repayment amount will be, including any additional fees and charges.

Pros and Cons of Payday Loans in Essig, Minnesota

While payday loans can be a useful option for people who need fast access to cash, they have both pros and cons. Here’s what you need to know:

  • Pros: Fast approval process, minimal qualifications, no credit check required.
  • Cons: High-interest rates, multiple fees and charges, may contribute to a debt cycle.

It’s important to weigh the pros and cons of payday loans carefully before you decide to take one out. If you’re unsure about whether a payday loan is the right choice for your financial situation, consider seeking advice from a financial professional.

Interesting Facts and Statistics About Payday Loans in Essig, Minnesota

  • In Minnesota, the average payday loan is $380, with an average APR of 196%.
  • According to a study, around 20% of Minnesota payday loan borrowers end up defaulting on their loan.
  • As of 2021, there are more than 100 payday lending locations in Minnesota, serving thousands of borrowers every year.

Apply Now for a Payday Loan in Essig, Minnesota

If you’re a resident of Essig, MN, and need fast access to cash, TheGuaranteedLoans can help you connect with potential lenders in your area. We’re a connector service, not a direct lender, and we’re committed to connecting borrowers with reputable lenders who can provide the best rates and terms for their needs. Fill out our online application today and get the funds you need.

F.A.Q.

Can I file a complaint about a payday lender in Essig, Minnesota?

Yes, if you have a complaint about a payday lender in Essig, Minnesota, you can file a complaint with the Minnesota Department of Commerce.

Is it possible to negotiate a payment plan with a payday lender in Essig, Minnesota?

Yes, if you are unable to repay your payday loan in full by the due date, you can contact your lender to see if they are willing to negotiate a payment plan.