Payday Loans in Goodhue, Minnesota

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

Company nameAddressZip codePhone number
Tanner Motors: Dodge Chrysler Jeep Ram Nissan 620 W Washington St, Brainerd, MN 56401 +1 (218) 829 - 3597
Northwestern Mutual 902 E 2nd St 170, Winona, MN 55987 +1 (507) 452 - 1334
State Bank of Cold Spring 401 Main St, Cold Spring, MN 56320 +1 (320) 685 - 8655
Old National Bank 600 W 78th St, Chanhassen, MN 55317 +1 (952) 486 - 4516
Home Federal Savings Bank 1015 Frontage Rd W 100, Owatonna, MN 55060 +1 (507) 413 - 6420
Cornerstone State Bank 1516 Cloquet Ave, Cloquet, MN 55720 +1 (218) 879 - 6781
ATM Affinity Plus Federal Credit Union 535 US-2, Grand Rapids, MN 55744 +1 (800) 627 - 3999
CorTrust Bank 737 Hall St, Stewart, MN 55385 +1 (320) 562 - 2553
Checks Cashed MoneyXchange, 12 East Franklin Avenue East, Minneapolis, MN 55404 +1 (612) 870 - 4090
Bremer Bank 520 1st St NE, Sartell, MN 56377 +1 (320) 255 - 7121

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Goodhue, 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, Payday Loans in Cottage Grove, MN, Payday Loan for Duluth, MN, No Credit Check Loans in Eden Prairie, MN, Payday Loan Companies in Inver Grove Heights, MN, Bad Credit Loans in Lakeville, MN and Payday Loan Without a Credit Check 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 Goodhue, MN.

Beautiful sights of Goodhue, MN

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

55027

Are Payday Loans Legal In Goodhue, 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

Goodhue, MN payday loan calculator

Payday loans are becoming more popular as people seek quick and easy ways to access cash. A payday loan is a small, short-term loan designed to help individuals cover unexpected expenses or bridge the gap between paychecks. In the state of Minnesota, payday loans are legal, and residents can take advantage of these loans when they need them.

How Do Payday Loans Work?

Payday loans are relatively easy to obtain. To get a payday loan, an individual typically provides a lender with proof of income, identification, and a post-dated check. The lender will then provide the borrower with cash in exchange for the post-dated check, which will be deposited on the borrower’s next payday. The loan typically has a high-interest rate, and borrowers must pay the loan back in full by their next payday.

Benefits of Payday Loans

Payday loans can be beneficial to those who need them. The loans are easy to obtain, and borrowers can receive cash quickly. Payday loans can help cover unexpected expenses, such as car repairs or medical bills. Additionally, payday loans can help individuals bridge the gap between paychecks, which can be particularly helpful for those living paycheck to paycheck.

Risks of Payday Loans

While payday loans can be beneficial in some situations, they also come with risks. Due to their high-interest rates, payday loans can lead to a cycle of debt, where borrowers take out additional loans to pay off previous loans. Additionally, if borrowers are unable to pay back the loan on time, they may face additional fees and penalties. It’s essential to understand the risks of payday loans and only use them when necessary.

Minnesota Regulations

In the state of Minnesota, payday loans are legal. However, there are regulations in place to protect consumers. Payday lenders must be licensed with the state, and loans cannot exceed $350. The maximum loan term is 30 days, and lenders must disclose all fees and interest rates upfront. Additionally, borrowers are entitled to a repayment plan if they are unable to pay back the loan in full on the due date.

Interesting Facts and Statistics

  • According to the Pew Charitable Trusts, the average payday loan borrower takes out eight loans per year, with a total amount of $3750.
  • In Minnesota, the average payday loan is $273, with an average APR of 277%.
  • Approximately 70% of payday loan borrowers use the loans to cover recurring expenses, such as rent and utility bills.

Apply Now

If you’re a resident of Goodhue, Minnesota, and you need a payday loan, TheGuaranteedLoans can help. We are a connector service that can help connect you with potential lenders who can provide the cash you need. Our online application process is quick and easy, and we work with a network of reputable lenders who adhere to Minnesota’s regulations.

Remember, payday loans should only be used when necessary, and borrowers should understand the risks associated with these loans. However, if you need a payday loan in Goodhue, Minnesota, TheGuaranteedLoans can help connect you with lenders who may be able to help you get the cash you need.

F.A.Q.

Is there a maximum number of times a payday loan can be extended in Goodhue, Minnesota?

Yes, payday loans in Goodhue, Minnesota can only be extended once.

What information do I need to provide to get a payday loan in Goodhue, Minnesota?

To get a payday loan in Goodhue, Minnesota, you will need to provide proof of income, identification, and a post-dated check or authorization to withdraw funds from your bank account.