Payday Loans in Marine on Saint Croix, Minnesota

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No payday loan companies in Marine on Saint Croix, MN. Consider companies in other cities:

Company nameAddressZip codePhone number
Raymond James Financial Services 117 S Broadway, Pelican Rapids, MN 56572 +1 (218) 863 - 1699
Vermillion State Bank 14681 240th St E, Hastings, MN 55033 +1 (651) 480 - 4600
Aitkin County Growth Inc 316 1st Ave NW, Aitkin, MN 56431 +1 (218) 927 - 2172
Northwoods Bank of MN 1200 1st St E, Park Rapids, MN 56470 +1 (218) 732 - 7221
Farmers State Bank 1452 W Main St, Albert Lea, MN 56007 +1 (507) 373 - 1945
Homeowners Financial Group 424 E Mill Ave Suite A, Pelican Rapids, MN 56572 +1 (218) 787 - 5100
Frandsen Bank & Trust 712 MN-33, Cloquet, MN 55720 +1 (218) 879 - 6000
ATM Affinity Plus Federal Credit Union 1600 Madison Ave 101a, Mankato, MN 56001 +1 (800) 322 - 7228
Red Wing Credit Union 3303 N Service Dr, Red Wing, MN 55066 +1 (651) 388 - 7133
North Star Mortgage LLC 1720 Adams St 100, Mankato, MN 56001 +1 (507) 387 - 6789

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Marine on Saint Croix, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Andover, MN, Payday Loans in Burnsville, MN, Quick Loan 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 Quick Loan 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 Marine on Saint Croix, MN.

Beautiful sights of Marine on Saint Croix, MN

Are Payday Loans Legal In Marine on Saint Croix, 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

Marine on Saint Croix, MN payday loan calculator

Payday Loans in Marine on Saint Croix, Minnesota: A Comprehensive Guide

In times of financial emergencies, people often turn to payday loans as a quick solution. Payday loans are designed to provide borrowers with access to small amounts of money for a short period. In Minnesota, payday loans are legal, but it’s crucial to research and understand the regulations and laws in Marine on Saint Croix, Minnesota, before applying for one.

What are Payday Loans?

Payday loans are small, short-term loans that typically range from $50 to $1000, depending on the lender. These loans are often repaid within a few weeks or on the borrower’s next payday. The application process is quick and easy, and most lenders perform minimal credit checks.

However, these loans come with high-interest rates and fees, making them one of the most expensive ways to borrow money. Moreover, taking out multiple payday loans at once can lead to a debt cycle that’s challenging to break out of.

Payday Loan Regulations in Marine on Saint Croix, Minnesota

In Minnesota, payday loans are legal with some restrictions. The maximum loan amount is $350, and the maximum loan term is 30 days. Lenders are allowed to charge up to $15 in fees per $100 borrowed, which means a $350 loan can cost up to $52.50 in fees. These fees can accumulate if the borrower is unable to pay on time, leading to additional charges and a cycle of debt.

Minnesota law also prohibits lenders from rolling over loans or offering additional loans to a borrower until the previous loan is paid in full. Moreover, lenders cannot charge additional interest or fees if the borrower is unable to repay the loan on time.

How to Apply for a Payday Loan in Marine on Saint Croix, Minnesota

Applying for a payday loan in Marine on Saint Croix, Minnesota, is a straightforward process. Borrowers must meet the following requirements:

  • Be at least 18 years old
  • Be a US citizen or resident
  • Have a valid identification document
  • Have an active checking account
  • Have a stable source of income

Borrowers can apply online or in-store by providing their personal and financial information. Most lenders require a post-dated check or authorization for an electronic withdrawal on payday as collateral.

Interesting Facts About Payday Loans in Marine on Saint Croix, Minnesota

  • The average payday loan amount in Minnesota is $380.
  • According to a survey, 12% of Minnesotans have taken out a payday loan in the past five years.
  • 94% of payday loan borrowers in Minnesota have to get another loan after paying off their previous one.
  • The state of Minnesota has over 100 payday loan storefronts.

Apply Now

If you’re considering a payday loan in Marine on Saint Croix, Minnesota, visit TheGuaranteedLoans website and fill out our online application form.

Remember, TheGuaranteedLoans is a connector service that aims to connect borrowers with potential lenders. We’re not a direct lender and do not make credit decisions. Our service is free, and applying won’t affect your credit score. Once you submit your application, our team will match you with a lender that suits your needs.

The Bottom Line

Payday loans can be a quick solution for financial emergencies, but they come with high fees and interest rates. Borrowers must research and understand the regulations and laws in Marine on Saint Croix, Minnesota, before applying for one. If you’re considering a payday loan, ensure you can repay it on time and consider other alternatives, such as personal loans or credit unions.

F.A.Q.

Can I take out multiple payday loans at the same time in Marine on Saint Croix, Minnesota?

No, Minnesota law limits consumers to only one outstanding payday loan at a time.

Are there any options for borrowers who are unable to repay their payday loan in Marine on Saint Croix, Minnesota?

Yes, borrowers who are unable to repay their payday loan can contact the Minnesota Department of Commerce for assistance and information about alternative forms of credit.