Payday Loans in Grasston, Minnesota

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

Company nameAddressZip codePhone number
U.S. Bank ATM - Walgreens 1201 Miller Trunk Hwy, Duluth, MN 55811 +1 (800) 872 - 2657
Great River Holding Co 14091 Baxter Dr 117, Baxter, MN 56425 +1 (218) 824 - 8400
Wealth Centers of America 40 Good Counsel Dr, Mankato, MN 56001 +1 (507) 625 - 4810
TCF Bank 606 Prairie Center Dr, Eden Prairie, MN 55344 +1 (800) 823 - 2265
Jackson Hewitt Tax Service 107 E 4th St, Crookston, MN 56716 +1 (218) 281 - 9914
Black Ridge Bank 3313 MN-29, Alexandria, MN 56308 +1 (320) 763 - 7700
American Federal Bank 157 2nd St S, Hallock, MN 56728 +1 (218) 843 - 3656
Banker's Equipment Services Inc 112 N Bruce St, Marshall, MN 56258 +1 (507) 532 - 3197
Dawson Home Mortgage 665 3rd Ave SE, Perham, MN 56573 +1 (218) 346 - 6371
Mortgages on Main 512 Main St S, Sauk Centre, MN 56378 +1 (320) 352 - 3999

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Grasston, 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 Loan Companies in Burnsville, MN, Payday Loans in Cottage Grove, MN, Payday Loans in Duluth, MN, Payday Loans in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Payday Loans in Lakeville, MN and No Credit Check 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 Grasston, MN.

Beautiful sights of Grasston, MN

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

55030

Are Payday Loans Legal In Grasston, 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

Grasston, MN payday loan calculator

What You Need to Know About Payday Loans in Grasston, Minnesota

When unexpected expenses arise and your budget just won’t cover them, it can be tempting to turn to payday loans. These short-term loans are designed to help you bridge the gap until your next paycheck arrives. If you’re considering a payday loan in Grasston, Minnesota, there are some important things you should know first to make an informed decision.

How Payday Loans Work in Minnesota

Payday loans are legal in Minnesota. These loans usually have a repayment period of two weeks or until your next payday. The lender will require proof of income and a bank statement to determine your eligibility. If approved, the loan amount will be deposited into your bank account the same day or next business day.

The maximum amount you can borrow with a payday loan in Minnesota is $350. The maximum financing fees are capped at 33% of the loan amount, which means you’ll pay $15 on a $100 loan. Plus, a $5 fee is charged to borrowers for verifying whether the borrower has outstanding payday loans.

Pros and Cons of Payday Loans

Like any financial product, payday loans have their pros and cons. One of the advantages of payday loans is they’re relatively easy to obtain. Unlike traditional loans, payday lenders don’t require a credit check, so people with poor credit scores may still be eligible to receive a loan. Additionally, payday loans can be obtained quickly, which is important if you have an emergency expense.

However, payday loans also have some disadvantages. The interest rates on payday loans can be extremely high, which can lead to a debt cycle where you need to take out additional loans to cover the previous loans’ interest fees. Additionally, some payday lenders may use aggressive tactics to collect the debt if you can’t pay it back on time. This can lead to additional fees and negative impacts on your credit score.

Interesting Facts and Statistics about Payday Loans in Grasston, Minnesota

  • The number of payday lenders operating in Minnesota has decreased from 1152 in 2012 to 82 in 2021.
  • In 2019, Minnesota borrowers took out approximately 330,000 payday loans totaling $141 million.
  • The average payday loan amount in Minnesota is $380.

Apply Now with TheGuaranteedLoans

If you’re in need of a payday loan in Grasston, Minnesota, consider using TheGuaranteedLoans as a connector service. We work with a network of lenders who can help connect you with the funds you need. We’ll guide you through the application process and help you find the best lender for your needs. Remember, payday loans should be used as a last resort for emergency expenses, and you should only borrow what you know you can repay. Apply now and get the financial assistance you need.

Note: TheGuaranteedLoans is not a direct lender, only a connecting service. While we can assist you in finding a lender, we cannot guarantee approval or specific loan terms. We advise you to read and understand all terms and conditions before signing any loan agreement.

Conclusion

Payday loans can be a helpful option in times of financial hardship. However, they come with risks that borrowers should consider before taking the first step. If you’re considering a payday loan, it’s essential to research the lenders available in your area and educate yourself on their policies. With the right knowledge, borrowing a payday loan can be a safe and effective way to cover unexpected expenses.

F.A.Q.

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

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

Are there any limits on the amount I can borrow?

Yes, the maximum amount you can borrow is $350 in Grasston, Minnesota.