Payday Loans in Saint Joseph, Minnesota

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

Company nameAddressZip codePhone number
K A Moe & Associates Accounting 701 8th St SE 2, Kasson, MN 55944 +1 (507) 634 - 4314
A.G. Management Service & Baker/Axelson 128 Main St, Wanamingo, MN 55983 +1 (507) 932 - 3593
Fairway Independent Mortgage Corporation 7825 Washington Ave S Suite 650, Suite 650, Minneapolis, MN 55439 +1 (952) 838 - 3060
MyBridgeNow 181 River Ridge Cir S Suite 200, Burnsville, MN 55337 +1 (952) 222 - 0252
Cars-N-Credit 616 E Main St, Albert Lea, MN 56007 +1 (507) 369 - 0036
Unity Bank 201 1/2, 3rd St W, Thief River Falls, MN 56701 +1 (218) 683 - 5480
New York Life 2320 US-12 7, Willmar, MN 56201 +1 (320) 235 - 4557
Walmart Money Center 7295 Glory Rd S, Baxter, MN 56425
First National Bank of Moose Lake 20 Hartman Dr, Moose Lake, MN 55767 +1 (218) 485 - 4441
Bremer Bank 6800 Cahill Ave, Inver Grove Heights, MN 55076 +1 (651) 451 - 8581

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Saint Joseph, MN

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

Understanding Payday Loans in Saint Joseph, Minnesota

In Saint Joseph, Minnesota, payday loans are legal and readily available. These short-term loans provide consumers with funds to cover unexpected expenses or bridge the gap until the next paycheck arrives. While payday loans can be helpful in certain situations, it’s important to understand the terms and risks associated with them before deciding to take one out.

What Are Payday Loans?

A payday loan is a short-term loan designed to be repaid with the borrower’s next paycheck. Typically, payday loans are for small amounts and have a relatively short repayment period. The loan is usually issued in cash or deposited directly into the borrower’s bank account, and repayment is usually due within two weeks.

Payday loans are typically used to cover unexpected expenses, such as medical bills or car repairs, or to bridge the gap between paychecks when an unexpected expense arises. However, due to the high interest rates and fees associated with payday loans, they can be a risky choice for borrowers who may not be able to repay the loan on time.

How Do Payday Loans Work in Saint Joseph, Minnesota?

In Saint Joseph, Minnesota, payday loans are legal but subject to certain regulations. The maximum loan amount is $350, and the maximum repayment period is 30 days. Lenders are also required to disclose the terms and fees associated with the loan upfront and are prohibited from charging more than a 33% annual interest rate.

To obtain a payday loan in Saint Joseph, a borrower must provide proof of income, such as a pay stub, and a valid form of identification. The lender will then issue the loan and typically require a post-dated check or electronic access to the borrower’s bank account for repayment.

It’s important to note that payday loans should be used as a last resort and only when the borrower can afford to repay the loan on time. Failure to repay the loan on time can result in additional fees and interest charges and may negatively impact the borrower’s credit score.

What Are the Risks of Payday Loans?

While payday loans can be helpful in certain situations, they also come with significant risks. The high-interest rates and fees associated with payday loans can make it difficult for borrowers to repay the loan on time, leading to a cycle of debt and financial hardship.

According to a study by the Center for Responsible Lending, the average payday loan borrower in Minnesota pays an average annual interest rate of 277% and takes out an average of ten loans per year. This cycle of debt can be difficult to break and can lead to long-term financial consequences.

Facts and Statistics About Payday Loans in Saint Joseph, Minnesota

  • The maximum payday loan amount in Saint Joseph, Minnesota is $350.
  • The maximum repayment period for a payday loan is 30 days.
  • Lenders are prohibited from charging more than a 33% annual interest rate.
  • The average payday loan borrower in Minnesota pays an average annual interest rate of 277%.

Apply Now for a Payday Loan in Saint Joseph, Minnesota

If you need financial assistance in Saint Joseph, Minnesota, TheGuaranteedLoans can help. Our online application process is quick and easy, and we can connect you with potential lenders who may be able to provide you with the funds you need.

It’s important to remember that TheGuaranteedLoans is a connector service and not a direct lender. We do not make credit decisions or provide information about your loan terms. Instead, we facilitate your connection with potential lenders who can provide you with the funds you need.

To apply for a payday loan in Saint Joseph, Minnesota, visit TheGuaranteedLoans website and fill out our simple online application. Our team will then review your application and connect you with potential lenders who may be able to provide you with the funds you need.

In conclusion, while payday loans can be a helpful financial tool in certain situations, they also come with significant risks. It’s important to understand the terms and fees associated with these loans before deciding to take one out. If you need financial assistance, TheGuaranteedLoans can help connect you with potential lenders who may be able to provide you with the funds you need.

F.A.Q.

Can I be charged late fees for a payday loan in Saint Joseph, Minnesota?

Yes, late fees may be charged for a payday loan in Saint Joseph, Minnesota if the loan is not paid on time.

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

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