Payday Loans in Nimrod, Minnesota

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

Company nameAddressZip codePhone number
Cottonwood County Abstract Co 915 3rd Ave, Windom, MN 56101 +1 (507) 831 - 1504
PrimeLending, A PlainsCapital Company 4115 26th St NW 103, Rochester, MN 55901 +1 (507) 289 - 8800
United States Postal Service 111 S Houk St, Good Thunder, MN 56037 +1 (800) 275 - 8777
American National Bank of MN 7638 Woida Rd N, Baxter, MN 56425 +1 (218) 829 - 1484
NAPA Auto Parts - Arlington Auto & Truck Supply 402 5th Ave NW, Arlington, MN 55307 +1 (507) 964 - 2202
First National Bank of Henning 512 Douglas Ave, Henning, MN 56551 +1 (218) 583 - 2933
Embarrass Vermillion Federal Credit Union 510 W 3rd Ave N, Aurora, MN 55705 +1 (218) 229 - 2048
Walmart Money Center 700 19th Ave SE, Willmar, MN 56201 +1 (320) 231 - 3456
State Bank of Fairmont 918 E Blue Earth Ave, Fairmont, MN 56031 +1 (507) 238 - 4287
PrimeLending, A PlainsCapital Company 314 10th Ave S 160, Waite Park, MN 56387 +1 (320) 252 - 2727

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Nimrod, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Andover, MN, Guaranteed Loans in Burnsville, MN, Payday Loans in Cottage Grove, MN, Quick Loan in Duluth, MN, Short-term Loans in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Payday Loan for Lakeville, MN and Online 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 Nimrod, MN.

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

56478

Are Payday Loans Legal In Nimrod, 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

Nimrod, MN payday loan calculator

The Basics of Payday Loans in Nimrod, Minnesota That Everyone Should Know

Payday loans are short-term loans that are typically used to help people manage unexpected expenses that may arise before their next payday. In Minnesota, payday loans are legal and regulated by state law, making it safe and secure for borrowers to take advantage of them. If you’re in Nimrod, Minnesota, and you’re considering taking out a payday loan, here’s everything you need to know to make an informed decision.

How Do Payday Loans Work in Nimrod, Minnesota?

Once you apply for a payday loan in Nimrod, Minnesota, the lender will ask for some basic information such as your name, address, and employment details. They will also require you to provide post-dated checks or electronic debit authorization to process the payments. If your request is approved, you’ll receive cash or a deposit in your bank account, depending on the lender’s preference.

While there is no maximum borrowing limit for payday loans in Nimrod, Minnesota, the state law requires lenders to assess your ability to repay the loan before granting approval. The amount you can borrow will depend on your income, credit score, and other factors that the lender may consider.

What Are the Benefits of Payday Loans in Nimrod, Minnesota?

Payday loans have several benefits that make them an ideal option for those who need quick cash. Here are some of the advantages:

  • Applicants can apply for payday loans online or in person.
  • The approval process is quick, and you can receive the money in as little as one business day.
  • There is no credit check required for most payday loans.
  • The repayment period is typically shorter than other types of loans, which means you can quickly pay off your debt.

What Are the Risks of Payday Loans in Nimrod, Minnesota?

Like all loans, payday loans have their fair share of risks. Before borrowing, it is essential to consider the pitfalls and make an informed decision. Here are some of the drawbacks of payday loans:

  • Interest rates are higher than other forms of loans, and if you fail to make the payments, the rates can quickly compound.
  • Payday loans are meant to be short-term solutions, so if you consistently borrow, you may find yourself in a debt spiral.
  • Getting a payday loan will show up on your credit report and could affect your credit score.

Interesting Facts and Statistics

Did you know that Minnesota has some of the strictest payday loan regulations in the country? Here are some interesting facts and statistics about payday loans in Nimrod, Minnesota:

  • As of 2021, there are over 100 licensed payday lenders in Minnesota.
  • The average payday loan in Minnesota is $380.
  • The maximum amount you can borrow in Minnesota payday loans is $350.
  • The average annual percentage rate (APR) for payday loans in Minnesota is 200%.

Apply Now

If you’re in Nimrod, Minnesota, and need quick cash, consider applying for a payday loan through TheGuaranteedLoans. We are a connector service that specializes in helping borrowers connect with licensed lenders in Nimrod, Minnesota. Applying with us is easy and secure, and we’ll take care of the rest. Remember, we are a connector service, and we’ll only facilitate the connection; we’re not a direct lender.

Take the first step towards getting quick cash for your unexpected expenses. Apply now, and we’ll match you with potential lenders in Nimrod, Minnesota, who can provide the support you need.

F.A.Q.

Can payday lenders seize my property in Nimrod, Minnesota?

No, payday lenders in Nimrod, Minnesota are not allowed to seize your property as collateral for a loan.

Are payday loans in Nimrod, Minnesota regulated by the state government?

Yes, payday lending is regulated by the Minnesota Department of Commerce.