Payday Loans in Rochert, Minnesota

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

Company nameAddressZip codePhone number
Keystone Home Finance/John Munson 110 2nd St S 227, Waite Park, MN 56387 +1 (320) 260 - 1390
Thrivent Financial 201 Lake St E Suite 205, Wayzata, MN 55391 +1 (952) 475 - 3900
Brainerd Savings & Loan 524 S 6th St, Brainerd, MN 56401 +1 (218) 829 - 5183
Thrivent Financial Lutherans 27 1st St NW, Ulen, MN 56585 +1 (218) 596 - 8228
Lakes Area Auto Sales, LLC 423 3rd Ave E 2, Alexandria, MN 56308 +1 (320) 219 - 6607
Minnwest Bank 301 Baseline Rd, Marshall, MN 56258 +1 (507) 532 - 1000
Alexandria Schools Employees Credit Union 1110 Tabbert Rd NW, Alexandria, MN 56308 +1 (320) 762 - 6533
Pine Country Bank 1201 1st Ave NE, Little Falls, MN 56345 +1 (320) 632 - 9740
Central Minnesota Credit Union 641 Railroad Ave, Albany, MN 56307 +1 (888) 330 - 8482
Security Savings Bank 116 Co Rd 6, Hills, MN 56138 +1 (507) 962 - 3250

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Rochert, MN, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Andover, MN, Payday Loans in Burnsville, MN, Payday Loans in Cottage Grove, MN, Online Loans in Duluth, MN, Payday Loans in Eden Prairie, MN, 24-Hour Loan in Inver Grove Heights, MN, Short-term Loans in Lakeville, MN and Payday 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 Rochert, MN.

Are Payday Loans Legal In Rochert, 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

Rochert, MN payday loan calculator

Introduction

Payday loans are a type of short-term loan that is designed to be paid back by the borrower’s next paycheck. These loans come with high-interest rates, which can make them a risky choice for individuals who find themselves unable to repay the full amount of the loan on time. However, for many individuals in Rochert, Minnesota, payday loans may be a viable option in times of financial need, as they are legal in the state of Minnesota.

The Basics of Payday Loans in Rochert, Minnesota

In Rochert, Minnesota, payday loans are legal and regulated by the Minnesota Department of Commerce. According to Minnesota law, payday lenders are required to obtain a license from the state and follow certain regulations to protect consumers.

One of the regulations in Rochert, Minnesota, is that payday lenders are allowed to charge up to 33 percent interest on loans up to $1,000. For loans between $1,000 and $2,500, lenders are allowed to charge up to 21 percent interest. These interest rates can add up quickly, so it’s important to only borrow what you need and be sure you can repay the loan on time.

The Application Process for a Payday Loan in Rochert, Minnesota

The application process for a payday loan in Rochert, Minnesota, is relatively simple. Borrowers will need to provide personal information, including their name, address, phone number, income, and employment information. Lenders may also require proof of income, such as a pay stub, to verify that the borrower will be able to repay the loan on time.

After submitting an application, borrowers can typically expect to receive a decision within a few minutes. If approved, the loan amount will be deposited into the borrower’s bank account within one business day.

The Risks and Benefits of Payday Loans in Rochert, Minnesota

Payday loans can be a risky choice for borrowers, as they often come with very high-interest rates and fees. However, for individuals in need of quick cash, payday loans may be a viable option. One of the benefits of payday loans is that they can be a fast and convenient way to get cash when you need it.

Before taking out a payday loan in Rochert, Minnesota, it’s important to carefully consider the risks and benefits. Make sure you understand how much the loan will cost you in total, including interest and any fees. Additionally, be sure to read the terms and conditions of the loan agreement carefully and understand the consequences of not repaying the loan on time.

Interesting Facts and Statistics About Payday Loans in Rochert, Minnesota

  • According to the Minnesota Department of Commerce, there were 66 licensed payday lenders in Minnesota as of 2020.
  • In 2019, Minnesota borrowers took out approximately 300,000 payday loans, totaling $110 million.
  • The average payday loan amount in Minnesota in 2019 was $380.
  • In Minnesota, the typical payday loan borrower earns less than $40,000 per year.

Apply Now

Are you in need of quick cash? Apply now for a payday loan through TheGuaranteedLoans. We are a connector service that will facilitate your connection with potential lenders. It’s important to remember that we are not a direct lender and do not make lending decisions. However, we work with a network of trusted lenders who may be able to provide you with the funds you need. Apply now to get started.

Conclusion

Payday loans can be a risky choice, but they may also be a viable option for individuals who find themselves in need of quick cash. In Rochert, Minnesota, payday loans are legal and regulated by the state, providing borrowers with certain protections. However, it’s important to carefully consider the risks and benefits before taking out a payday loan, and to only borrow what you need and can afford to repay on time.

F.A.Q.

How do I apply for a payday loan in Rochert, Minnesota?

You can apply for a payday loan in Rochert, Minnesota either online or in person at a payday lender's storefront.

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

Yes, after you repay a payday loan in Rochert, Minnesota, you must wait seven days before taking out another loan.