Payday Loans in Harris, Minnesota

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

Company nameAddressZip codePhone number
Affinity Plus Federal Credit Union 2120 SE 2nd Ave, Grand Rapids, MN 55744 +1 (800) 322 - 7228
Wells Fargo Bank 11966 Business Park Blvd N, Champlin, MN 55316 +1 (612) 316 - 0500
Central Minnesota Credit Union 641 Railroad Ave, Albany, MN 56307 +1 (888) 330 - 8482
Central Minnesota Credit Union Administration Center 20 4th Ave SE, Melrose, MN 56352 +1 (888) 330 - 8482
Deerwood Bank 21236 Archibald Rd, Deerwood, MN 56444 +1 (218) 534 - 3111
MidWestOne Bank 1650 Lake St S, Forest Lake, MN 55025 +1 (651) 464 - 2880
Mr Pawn 1910 Lake St S, Forest Lake, MN 55025 +1 (651) 464 - 7380
TCF Bank 216 7th St W, Monticello, MN 55362 +1 (800) 823 - 2265
Western Union Hy-vee Food Store, 900 E Main St, Marshall, MN 56258 +1 (507) 532 - 2247
Community Development Bank FSB 516 Main St, Ogema, MN 56569 +1 (218) 983 - 3241

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Harris, MN

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

55032

Are Payday Loans Legal In Harris, 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

Harris, MN payday loan calculator

Everything You Need to Know About Payday Loans in Harris, Minnesota

When you have unexpected expenses, a payday loan can be a quick and convenient way to get the money you need. In Harris, Minnesota, payday loans are legal and regulated by state law. However, it’s important to understand the terms and conditions of payday loans before applying. This article will provide all the necessary information you need to know about payday loans in Harris, Minnesota.

What is a Payday Loan?

A payday loan is a short-term, high-interest loan that’s typically due on your next payday. These loans are often used by individuals who need to cover unexpected or emergency expenses, such as medical bills or car repairs. Payday loans are often considered a quick fix, but they can come with high interest rates and fees.

Legal Regulations

In Minnesota, payday loans are legal according to state law. The state regulates payday loans through the Minnesota Department of Commerce. The law requires that lenders must be licensed and follow strict regulations, including a maximum loan amount of $350 and a maximum finance charge of $15 for every $100 borrowed. Additionally, rollovers and extensions are prohibited, and borrowers can only have one outstanding loan at a time. These regulations are in place to protect borrowers from excessive debt and predatory lending practices.

How to Apply

To apply for a payday loan in Harris, Minnesota, you must be at least 18 years old and have a steady income. You can apply for a payday loan either in-person at a physical location or online. Many lenders now offer the convenience of online applications through their website or mobile app. It’s important to research each lender and compare rates and fees before applying.

The Pros and Cons of Payday Loans

Pros

  • Quick and convenient access to cash
  • Easy application process
  • No collateral required
  • Can help in emergency situations
  • May be more accessible than traditional bank loans for those with poor credit

Cons

  • High interest rates and fees
  • Short repayment terms can lead to debt cycles
  • May not solve the root cause of financial problems
  • Can damage credit scores if not paid on time
  • Can be a gateway to long-term debt and financial instability

Interesting Facts and Statistics

  • The average payday loan in Minnesota is $380, with an average finance charge of $56.60.
  • More than 75% of payday loans in Minnesota are taken out by borrowers who take out 10 or more loans per year.
  • The number of payday lenders in Minnesota has decreased by 22% since 2010.
  • Payday loan borrowers are twice as likely to file for bankruptcy compared to those who do not use payday loans.

Apply Now

If you’re in need of a payday loan in Harris, Minnesota, you can fill out an online application on TheGuaranteedLoans website. We are not a direct lender, but we connect borrowers with potential lenders who fit their needs. It’s important to note that the terms and conditions of loans are between the borrower and the lender, and TheGuaranteedLoans is not involved in the loan agreement.

Payday loans can be a helpful resource in times of need, but it’s important to understand the risks and benefits before applying. Be sure to research each lender and compare rates and fees to find the best option for your financial situation.

F.A.Q.

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

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

Can I apply for a payday loan online in Harris, Minnesota?

Yes, you can apply for a payday loan online in Harris, Minnesota, but the lender must be licensed to operate in the state.