Payday Loans in Sabin, Minnesota

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

Company nameAddressZip codePhone number
180 Collision Inc 180 Industrial Blvd 3002, Norwood Young America, MN 55397 +1 (952) 467 - 2414
Wadena County Abstract Co 24 Colfax Ave SW, Wadena, MN 56482 +1 (218) 631 - 3431
Stifel 60 South 6th St 3000, Minneapolis, MN 55402 +1 (612) 455 - 5555
United Prairie Bank 1509 N State St, Waseca, MN 56093 +1 (507) 835 - 8180
TruStone Financial Credit Union 17533 Cedar Ave, Lakeville, MN 55044 +1 (800) 862 - 1998
Ely Area Credit Union 2 E Chapman St, Ely, MN 55731 +1 (218) 365 - 3131
Thrivent Financial 216 N Main St, Blue Earth, MN 56013 +1 (507) 526 - 5000
Farmers State Bank of Elkton 105 Main St, Elkton, MN 55933 +1 (507) 584 - 6441
Zumbrota Ford 1660 S Main St, Zumbrota, MN 55992 +1 (507) 732 - 5127
Deerwood Bank 9451 Madison St, Garrison, MN 56450 +1 (320) 692 - 4336

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Sabin, MN

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

56580

Are Payday Loans Legal In Sabin, 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

Sabin, MN payday loan calculator

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

When unexpected expenses arise, many people turn to payday loans as a quick solution for financial relief. In Sabin, Minnesota, payday loans are legal, but it’s important to understand all the facts and regulations before taking out such a loan. In this article, we’ll take a closer look at payday loans in Sabin, Minnesota and what you need to know before applying.

How Payday Loans Work

A payday loan is a short-term loan typically due on your next payday. These loans are designed for individuals who need quick cash for emergency expenses, such as car repairs or medical bills. The application process is simple and can often be completed online or in person at a payday loan lender’s brick-and-mortar location. Payday loan lenders don’t typically consider credit scores or require collateral. Instead, they’ll base the loan amount on the borrower’s income and ability to repay the loan.

Payday Loan Regulations in Sabin, Minnesota

Payday loans are legal in Minnesota, including Sabin, but the state does regulate payday lending. According to Minnesota statute, payday loan lenders must be licensed and can only charge a maximum of 33% interest on loans under $350. For loans between $350 and $1,000, the interest rate is capped at 28%. Additionally, payday loan lenders cannot charge extra fees or require a borrower to take out additional loans in order to repay the original loan.

The Pros and Cons of Payday Loans

Before taking out a payday loan in Sabin, Minnesota or any other location, it’s important to understand the pros and cons. Here are a few key points to consider:

  • Pros: Quick access to cash, no credit check, simple application process
  • Cons: High-interest rates, fees for late or missed payments, potential for debt cycle if loan is not paid off on time

Although payday loans can be a viable option for some individuals in an emergency, they are not a long-term solution for financial struggles. Borrowers should do their due diligence before applying for a loan, including understanding all the terms and fees involved and ensuring they have a plan to repay the loan on time.

Interesting Facts and Statistics About Payday Loans in Sabin, Minnesota

  • Sabin, Minnesota has a population of just over 500 people.
  • The average payday loan amount in Minnesota is $380.
  • In 2019, Minnesota payday loan lenders issued over 300,000 loans with a total loan volume of over $134 million.
  • The average payday loan annual percentage rate (APR) in Minnesota is 199%.

How to Apply for a Payday Loan in Sabin, Minnesota

If you’ve reviewed all the pros and cons and determined that a payday loan is the right choice for you, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we make the process simple and streamlined, so you can get fast access to the funds you need. Keep in mind that TheGuaranteedLoans is not a lender and cannot guarantee loan approval. However, we work with a network of trusted lenders ready to review your application and determine if you’re eligible for a payday loan.

At TheGuaranteedLoans, we believe in transparency and always provide borrowers with all the information they need to make informed decisions. If you’re ready to apply for a payday loan in Sabin, Minnesota or anywhere else, click the ‘Apply Now’ button to get started.

F.A.Q.

Do I need to have a checking account to get a payday loan in Sabin, Minnesota?

Yes, most lenders require you to have a checking account in order to receive a payday loan in Sabin, Minnesota.

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

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