Payday Loans in Flom, Minnesota

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

Company nameAddressZip codePhone number
Minnesota Independent Loan 11660 Theatre Dr N # 215, Champlin, MN 55316 +1 (763) 208 - 6456
Wells Fargo Home Mortgage 217 Main St W, New Prague, MN 56071 +1 (952) 758 - 8361
Wells Fargo Home Mortgage 220 NW 1st Ave #210, Grand Rapids, MN 55744 +1 (218) 326 - 7229
Le Sueur County Abstract Co 105 E Minnesota St, Le Center, MN 56057 +1 (507) 357 - 6866
MidWestOne Bank 11151 Lake Blvd, Chisago City, MN 55013 +1 (651) 257 - 6561
Equity Bank 208 W Front St, Claremont, MN 55924 +1 (507) 528 - 2133
Bremer Investments 201 N Broadway 1, Crookston, MN 56716 +1 (218) 281 - 0230
Payday America 339 E Central Entrance, Duluth, MN 55811 +1 (218) 722 - 0469
U.S. Bank Branch 213 Chestnut St E, Stillwater, MN 55082 +1 (651) 439 - 4411
90 Day Loans, LLC 5 W 1st St STE 105B, Duluth, MN 55802 +1 (218) 522 - 4991

Payday Loan Companies in Nearby Cities

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

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

56541

Are Payday Loans Legal In Flom, 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

Flom, MN payday loan calculator

Payday Loans in Flom, Minnesota: Understanding Your Options

Life is unpredictable, and sometimes we find ourselves in situations where we need money fast. If you’re in Flom, Minnesota, you may be wondering about your options for a payday loan. In this article, we’ll explore what payday loans are, how they work, and what you need to know about getting one in Flom.

What are Payday Loans?

A payday loan is a short-term loan that is typically due on your next payday. These loans are meant to be a quick solution for unexpected expenses and emergencies. In Minnesota, payday loans are legal, but they are subject to certain regulations.

How do Payday Loans Work?

The process of getting a payday loan is straightforward. First, you’ll need to find a lender that offers them. You can do this by searching online or visiting a storefront location. Next, you’ll need to fill out an application. The application will typically ask for your personal information, employment details, and banking information.

Once you’ve submitted your application, the lender will review it and determine whether to approve your loan. If you’re approved, the lender will typically give you the money within a few hours or the next business day.

When it’s time to repay the loan, the lender will automatically withdraw the amount you borrowed plus any fees and interest from your bank account.

Regulations Surrounding Payday Loans in Minnesota

While payday loans are legal in Minnesota, there are several regulations that lenders must follow. For example, lenders cannot charge more than $15 for every $100 borrowed. They also cannot give you a loan for more than $350.

Additionally, lenders must provide you with certain information before you agree to a loan. They must give you a written agreement that includes the amount you’re borrowing, the interest rate, and any fees.

Finally, Minnesota law requires lenders to give you a cooling-off period. This means that if you change your mind about the loan, you have until the end of the next business day to cancel it without penalty.

Applying for a Payday Loan in Flom

If you’re considering a payday loan in Flom, there are several lenders that offer them. You can search online or visit a storefront location. However, before you apply, it’s important to understand the terms and conditions of the loan.

Make sure you understand the interest rate, fees, and repayment terms. You should also consider alternatives to a payday loan, such as a personal loan or credit card.

Interesting Facts About Payday Loans in Flom, Minnesota

  • Minnesota law limits the amount of interest that payday lenders can charge to 33% per year.
  • In 2019, the Minnesota legislature passed a bill to protect consumers from “debt traps” caused by payday loans. The bill requires lenders to determine whether a borrower can afford to repay the loan before approving it.
  • In 2018, Minnesota payday lenders issued over 385,000 loans, totaling over $149 million.
  • According to a 2016 study by the Pew Charitable Trusts, the average payday loan borrower in Minnesota takes out eight loans per year, spending an average of 20 days in debt.

Apply Now

If you’re interested in applying for a payday loan in Flom, Minnesota, TheGuaranteedLoans can help. We connect borrowers with potential lenders, making the process quick and easy.

It’s important to remember that TheGuaranteedLoans is not a direct lender. Instead, we work with a network of lenders to find the best loan options for you.

To get started, simply fill out our online application. We’ll review your information and connect you with the lenders that best match your needs.

Conclusion

Payday loans can be a useful tool for those who need money fast. But they’re not without risks. Before you apply for a payday loan in Flom, Minnesota, make sure you understand the terms and conditions of the loan. Consider alternatives and make sure you can afford the repayment terms.

If you do decide to apply for a payday loan, TheGuaranteedLoans can help. We’re here to connect you with potential lenders and make the process as simple as possible.

F.A.Q.

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

Yes, after you repay a payday loan in Flom, 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 Flom, Minnesota?

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