Payday Loans in Norwood, Minnesota

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

Company nameAddressZip codePhone number
Getten Credit Company 1310 Sibley Memorial Hwy, Mendota, MN 55150 +1 (651) 645 - 5881
Alicia Kapus- Thrivent Financial 301 1st St SE, Little Falls, MN 56345 +1 (320) 639 - 1005
Mid Minnesota Federal Credit Union - Detroit Lakes 1405 US Hwy 10 W, Detroit Lakes, MN 56501 +1 (218) 844 - 5540
Piletich & Skokan, P.A. 1675 Greeley St S STE 100, Stillwater, MN 55082 +1 (651) 351 - 1975
TruStone Financial Credit Union 17533 Cedar Ave, Lakeville, MN 55044 +1 (800) 862 - 1998
Harvest Bank 321 Pacific Ave, Kandiyohi, MN 56251 +1 (320) 382 - 6100
Falcon National Bank 183 Cedar Dr, Foley, MN 56329 +1 (320) 968 - 6300
Jackson Hewitt Tax Service 150 Western Ave NW, Faribault, MN 55021 +1 (507) 412 - 4076
Aitkin County Growth Inc 316 1st Ave NW, Aitkin, MN 56431 +1 (218) 927 - 2172
United States Postal Service 132 2nd St, Nashwauk, MN 55769 +1 (800) 275 - 8777

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Norwood, MN

Are Payday Loans Legal In Norwood, 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

Norwood, MN payday loan calculator

Payday Loans in Norwood, Minnesota: What You Need to Know

Payday loans are a popular option for those who are looking for a quick way to get cash. However, there are several things that you need to know before applying for a payday loan in Norwood, Minnesota. In this article, we will cover the basics of payday loans and provide you with the information you need to make an informed decision.

What Are Payday Loans?

A payday loan is a short-term loan that is typically due on your next payday. These loans are designed for people who need cash quickly and do not have access to traditional credit. Payday loans are often available to those with poor credit scores, making them an attractive option for many people.

How Do Payday Loans Work?

When you apply for a payday loan, you will typically be asked to provide proof of income and other personal information. Once your application is approved, you will receive the funds directly into your bank account. You will then be responsible for paying back the loan, along with any fees and interest, on your next payday.

Are Payday Loans Legal in Minnesota?

Yes, payday loans are legal in Minnesota. However, the state has implemented strict regulations to protect consumers from predatory lending practices. For example, the maximum loan amount in Minnesota is $350, and lenders cannot charge more than 33% interest on loans up to $1,000.

Things to Consider Before Applying for a Payday Loan

Before applying for a payday loan, there are several things you should consider:

  • High Interest Rates: Payday loans often come with high interest rates that can make it difficult to pay back the loan on time. Make sure you understand the interest rates before applying for a loan.
  • Short Repayment Period: Payday loans are typically due on your next payday, which may not give you enough time to repay the loan. Make sure you can afford to repay the loan on time.
  • Additional Fees: Payday lenders may charge additional fees, such as origination fees or late fees, which can increase the overall cost of the loan.
  • Impact on Credit Score: If you are unable to repay the loan on time, it can negatively impact your credit score.

Interesting Facts and Statistics About Payday Loans in Norwood, Minnesota

  • In Norwood, Minnesota, the average payday loan amount is $275.
  • According to a study by the Pew Charitable Trusts, 12 million Americans take out payday loans every year.
  • The average payday loan borrower takes out 8 loans per year, with an average loan amount of $375.
  • Minnesota law requires payday lenders to be licensed and to follow strict regulations to protect consumers.

Apply Now for a Payday Loan through TheGuaranteedLoans

TheGuaranteedLoans is a connector service that can help you find a payday loan in Norwood, Minnesota. By filling out an online application, we will connect you with potential lenders who can provide you with the cash you need. It is important to note that we are not a direct lender and that we do not make credit decisions. Instead, we facilitate the connection between borrowers and lenders.

To get started, simply fill out our online application. We will then search our network of lenders to find the best loan option for you. If approved, you could receive cash as soon as the next business day.

Don’t let unexpected expenses derail your finances. Apply now for a payday loan through TheGuaranteedLoans and get the cash you need to stay on top of your bills.

F.A.Q.

Can a payday lender garnish my wages if I fail to repay the loan?

No, a payday lender cannot garnish your wages in Norwood, Minnesota unless they obtain a court order.

Can I take out multiple payday loans at the same time in Norwood, Minnesota?

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