Payday Loans in Hovland, Minnesota

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

Company nameAddressZip codePhone number
First National Bank 101 Lake Ave S, Battle Lake, MN 56515 +1 (218) 864 - 5275
American Federal Bank 117 S Mill St, Fergus Falls, MN 56537 +1 (218) 739 - 3377
Farmers State Bank of Elkton 105 Main St, Elkton, MN 55933 +1 (507) 584 - 6441
State Bank of Delano 1300 Babcock Blvd, Delano, MN 55328 +1 (763) 972 - 2935
MBT Bank 4408 W Frontage Rd, Rochester, MN 55901 +1 (507) 226 - 8460
Patrick Smock Mortgage Loan Officer 840 Mankato Ave suite b, Winona, MN 55987 +1 (507) 494 - 3026
Split Rock Partners 10400 Viking Dr 250, Eden Prairie, MN 55344 +1 (952) 995 - 7474
Bremer Bank 115 Holmes St E, Detroit Lakes, MN 56501 +1 (218) 847 - 9292
American Federal Bank 601 Center Ave, Moorhead, MN 56560 +1 (218) 233 - 2791
Bank of the West 412 E Main St, Ada, MN 56510 +1 (218) 784 - 7151

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hovland, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Minneapolis, MN, Quick Loan in Minnetonka, MN, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Emergency Loan in Saint Cloud, MN, Payday Loans in Saint Paul, MN, Payday Loan Companies 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 Hovland, MN.

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

00000

Are Payday Loans Legal In Hovland, 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

Hovland, MN payday loan calculator

Guide to Payday Loans in Hovland, Minnesota

Are you living in Hovland, Minnesota, and searching for a quick and easy way to get money to cover your bills or emergency expenses? One option you may consider is a payday loan. While payday loans can be helpful in times of need, it’s essential to understand how they work, including the legal requirements and repayment terms, before applying.

Here’s everything you need to know about payday loans in Hovland, Minnesota.

What are Payday Loans?

A payday loan is a short-term loan that borrowers take out with the agreement that they will repay the loan in full when they receive their next paycheck. These loans typically range from $100 to $500 or more and have an average repayment period of two weeks.

Payday loans are useful for people who need cash quickly and cannot wait until their next payday. The funds can be used for any purpose, such as unexpected medical bills or car repairs.

Legal Requirements

Payday loans are legal in Minnesota, but there are some legal requirements that lenders must follow. For example, lenders must be licensed by the Minnesota Department of Commerce, and they may not charge more than 33% interest on loans up to $1,000.

Additionally, lenders are required to provide borrowers with a written loan agreement that outlines the repayment terms, including the due date, interest rate, and any fees or penalties associated with non-payment.

Repayment Terms

Payday loans have high interest rates and can be expensive if you are unable to repay them on time. If you are unable to make your payment, the lender may charge you additional fees, and the loan could roll over, meaning you would owe more money in interest.

It’s essential to read the loan agreement carefully and understand the repayment terms before you sign. If you are uncertain about anything in the agreement, ask the lender to clarify before signing.

How to Apply for a Payday Loan in Hovland, Minnesota

To apply for a payday loan in Hovland, Minnesota, you’ll need to provide proof of income, such as a recent paycheck stub, and a valid ID. You may also need to provide proof of residency.

It’s essential to shop around and compare lenders to find the best loan terms and interest rates. You can use an online lender comparison tool like TheGuaranteedLoans to help you find the best loan options.

Apply Now

TheGuaranteedLoans is a connector service that can help you find lenders who offer payday loans in Hovland, Minnesota. To get started, fill out our online application, and we’ll match you with potential lenders who may be able to fulfill your loan request.

Remember that while payday loans can be helpful in times of need, they do come with high-interest rates and fees. Make sure you understand the loan terms before you sign any agreement.

Interesting Facts and Statistics

Here are some interesting facts and statistics about payday loans in Hovland, Minnesota:

– In 2019, the average payday loan amount in Minnesota was $388.
– The average interest rate on payday loans in Minnesota is 277%.
– In Minnesota, borrowers can take out up to $350 at a time and must repay the loan within 30 days.

Conclusion

Payday loans can be a useful financial tool in times of need, but it’s essential to understand the legal requirements and repayment terms before you take out a loan. Make sure to compare lenders and read the loan agreement carefully before signing.

If you need help finding a lender that offers payday loans in Hovland, Minnesota, consider using a connector service like TheGuaranteedLoans. We can help you find lenders who may be able to fulfill your loan request and get you the funds you need quickly and easily.

F.A.Q.

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

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

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