Payday Loans in Saint Clair, Minnesota

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

Company nameAddressZip codePhone number
Farmers State Bank of Elkton 105 Main St, Elkton, MN 55933 +1 (507) 584 - 6441
Williams Accounting 113 E 4th St, Blue Earth, MN 56013 +1 (507) 526 - 2866
AgCountry Farm Credit Services 224 N Atlantic Ave, Hallock, MN 56728 +1 (218) 843 - 3627
U.S. Bank Branch 236 Main St E, Blooming Prairie, MN 55917 +1 (507) 583 - 6627
First Southeast Bank 3 Main Ave N, Harmony, MN 55939 +1 (507) 886 - 6922
Old National Bank 222 6th Ave, Madison, MN 56256 +1 (320) 598 - 2020
Security Bank & Trust 317 Ash Ave N, Mayer, MN 55360 +1 (952) 657 - 2309
Bremer Bank 730 W Bridge St, Owatonna, MN 55060 +1 (507) 451 - 0950
Old National Bank 111 S 2nd St South 100, Mankato, MN 56001 +1 (507) 388 - 0900
New American Funding 103 3rd St NE, Roseau, MN 56751 +1 (218) 203 - 1413

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Saint Clair, MN

Are Payday Loans Legal In Saint Clair, 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 Clair, MN payday loan calculator

Are you considering a payday loan in Saint Clair, Minnesota? As with any financial decision, it’s important to understand the facts and weigh the pros and cons before making a decision. Here’s what you need to know about payday loans in Saint Clair.

What is a Payday Loan?

A payday loan is a short-term loan designed to help borrowers cover unexpected expenses until their next paycheck. These loans typically have high interest rates and fees, and must be repaid in full within a few weeks.

Payday Loans in Saint Clair, Minnesota

In Minnesota, payday loans are legal under certain regulations. The maximum amount you can borrow is $350, and the loan term must be between 10 and 30 days. The finance charge for a payday loan in Minnesota is $15 for every $100 borrowed. This means that if you borrow $350, you will pay $52.50 in fees, for a total loan amount of $402.50.

It’s important to note that Minnesota law also requires lenders to disclose the total cost of the loan, including fees and interest, before you sign any loan agreement.

The Pros and Cons of Payday Loans

Pros

  • Easy and fast access to cash when you need it
  • No collateral or credit check required
  • Can help prevent overdraft fees, late payments, and other penalties

Cons

  • High interest rates and fees
  • Short loan terms can lead to a cycle of debt if not repaid on time
  • May not be a long-term solution for ongoing financial problems

It’s important to carefully consider the pros and cons of payday loans before deciding to take out a loan. If you do decide to take out a payday loan in Saint Clair, it’s important to borrow only what you can afford to repay and to repay the loan on time to avoid additional fees and interest charges.

Interesting Facts and Statistics about Payday Loans in Saint Clair, Minnesota

  • The average payday loan amount in Minnesota is $380.
  • Minnesota residents take out an estimated 385,000 payday loans per year.
  • The average APR for a payday loan in Minnesota is 277%.

TheGuaranteedLoans: Connecting You with Potential Lenders

TheGuaranteedLoans is a connector service, meaning we connect borrowers with potential lenders who may be able to help meet their financial needs. We are not a direct lender, and we do not make credit decisions or determine loan terms.

If you are interested in applying for a payday loan in Saint Clair, you can fill out an online application on our website. Our application process is fast and easy, and we work with a network of trusted lenders who may be able to help. Keep in mind that loan terms and fees may vary depending on the lender.

It’s important to carefully review all loan terms and fees before accepting a loan offer. If you have any questions or concerns about the loan process, our customer service team is available to help.

Conclusion

Payday loans can be a helpful financial tool for borrowers who need quick access to cash. However, they also come with high interest rates and steep fees, and should be used responsibly. If you are considering a payday loan in Saint Clair, be sure to carefully review all loan terms and fees before accepting a loan offer. And remember, TheGuaranteedLoans is here to help connect you with potential lenders who may be able to meet your financial needs.

F.A.Q.

Is it possible to negotiate a payment plan with a payday lender in Saint Clair, Minnesota?

Yes, if you are unable to repay your payday loan in full by the due date, you can contact your lender to see if they are willing to negotiate a payment plan.

Are payday loans legal in Saint Clair, Minnesota?

Yes, payday loans are legal in Saint Clair, Minnesota.