Payday Loans in Saint Bonifacius, Minnesota

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

Company nameAddressZip codePhone number
Glenwood Family Eye Center-Glacial Ridge Health System 16 Minnesota Ave W 102, Glenwood, MN 56334 +1 (320) 334 - 3264
Pawn America 1565 Tullamore St, Mankato, MN 56001 +1 (507) 345 - 7001
Northview Bank 510 Main St, Sandstone, MN 55072 +1 (320) 245 - 5261
Woodland Bank 2610 US-169, Grand Rapids, MN 55744 +1 (218) 327 - 4000
Midland Co-op Credit Union 5210 Central Ave NE 200, Minneapolis, MN 55421 +1 (763) 572 - 1368
North Ridge Financial Center 921 17th St S, Virginia, MN 55792 +1 (218) 741 - 1222
Fulda Area Credit Union 212 10th St N, Mountain Lake, MN 56159 +1 (507) 407 - 9840
TCF Bank 4801 County Rd 101, Minnetonka, MN 55345 +1 (800) 823 - 2265
Falcon National Bank 183 Cedar Dr, Foley, MN 56329 +1 (320) 968 - 6300
Security Bank & Trust Co. 735 11th St E, Glencoe, MN 55336 +1 (320) 864 - 3171

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Saint Bonifacius, 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, 24-Hour Loan in Cottage Grove, MN, Short-term Loans in Duluth, MN, Payday Loans in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Quick Loan 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 Saint Bonifacius, MN.

Beautiful sights of Saint Bonifacius, MN

Are Payday Loans Legal In Saint Bonifacius, 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

Saint Bonifacius, MN payday loan calculator

Understanding Payday Loans in Saint Bonifacius, Minnesota

Payday loans, also known as cash advances, are loans that offer quick access to funds to help borrowers cover unexpected expenses. These loans are ideal for individuals who need money fast, but don’t want to go through the lengthy process of traditional bank loans.

In the state of Minnesota, payday loans are legal and regulated by the Minnesota Department of Commerce.

How do payday loans work?

Payday loans are typically a short-term loan, lasting two weeks on average. The loan amount is usually up to $350, and the borrower is required to provide a post-dated check or authorization for an electronic withdrawal on their next payday.

The amount the borrower is eligible for is determined by their income and other factors. The lender usually charges a fee for the loan, based on the amount borrowed. The fee can vary from lender to lender, so it’s important to shop around for the best deal.

What are the requirements for payday loans in Saint Bonifacius, Minnesota?

In order to be eligible for a payday loan in Saint Bonifacius, Minnesota, borrowers must meet certain requirements:

  • Be 18 years or older
  • Have a valid government-issued ID
  • Have a regular source of income
  • Provide proof of residence
  • Have an active checking account

While these are the basic requirements, lenders may have additional requirements that borrowers must meet in order to be approved for a loan.

What are the benefits of payday loans?

Payday loans are a popular choice for individuals who need cash fast. They offer a number of benefits over traditional loans, including:

  • Quick approval and funding
  • No credit check required
  • No collateral required
  • Flexible loan amount and repayment terms

Additionally, because payday loans are regulated by the state, borrowers can be assured that the terms of their loan are fair and reasonable.

What are the risks of payday loans?

While payday loans can be a good option for some borrowers, there are also risks associated with these types of loans. One of the biggest risks is the high interest rates that lenders charge. Because the loan is repaid over a short period of time, the interest rate can be quite high, making the cost of the loan much higher than traditional loans.

Additionally, some borrowers fall into a cycle of debt, taking out new loans to repay old ones. This can lead to a dangerous cycle of borrowing and may result in financial hardship.

Interesting Facts and Statistics

  • Minnesota caps the interest rate on payday loans at 33%.
  • The average payday loan amount in Minnesota is $380.
  • Minnesota has the second-lowest number of payday loan stores per capita in the country, with one store for every 16,000 residents.

Apply Now

If you’re in need of a payday loan in Saint Bonifacius, Minnesota, TheGuaranteedLoans can help you connect with potential lenders. Our quick and easy online application process takes just a few minutes to complete, and you can receive a loan decision in as little as a few minutes.

Remember, TheGuaranteedLoans is a connecting service, not a direct lender. As such, we cannot guarantee loan approval or provide specific loan terms and conditions. However, we work with many reputable lenders who offer fair and reasonable terms.

Apply now and get the cash you need to cover unexpected expenses!

F.A.Q.

Can payday lenders garnish my wages in Saint Bonifacius, Minnesota?

No, payday lenders in Saint Bonifacius, Minnesota are not allowed to garnish your wages if you default on a loan.

Can payday lenders seize my property in Saint Bonifacius, Minnesota?

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