Payday Loans in Solway, Minnesota

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

Company nameAddressZip codePhone number
U.S. Bank ATM 2400 Maple Grove Rd, Duluth, MN 55811 +1 (800) 872 - 2657
Granite Community Bank 202 2nd Ave S, Cold Spring, MN 56320 +1 (320) 685 - 8611
Thrivent Financial 12 6th Ave NW 102, Glenwood, MN 56334 +1 (320) 634 - 5361
Steele County Abstract Co 125 W Bridge St, Owatonna, MN 55060 +1 (507) 451 - 6487
Knuttila Financial Services, Inc. 655 3rd Ave SE A, Perham, MN 56573 +1 (218) 346 - 5046
Gate City Bank in Coborn's 110 1st St S, Sauk Rapids, MN 56379 +1 (320) 227 - 1346
Financial Advisors U.S. Bancorp Investments 132 W Broadway St, Owatonna, MN 55060 +1 (507) 444 - 2201
Members Cooperative Credit Union 108 Minnesota Ave N, Aitkin, MN 56431 +1 (218) 927 - 3789
Wells Fargo Home Mortgage 1400 S Oak Ave, Owatonna, MN 55060 +1 (507) 455 - 6784
All American Title 801 Roosevelt Ave, Detroit Lakes, MN 56501

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Solway, 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, Online Loans in Duluth, MN, Bad Credit Loans in Eden Prairie, MN, Same Day Loans in Inver Grove Heights, MN, Payday Loans in Lakeville, MN and Online 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 Solway, MN.

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

56678

Are Payday Loans Legal In Solway, 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

Solway, MN payday loan calculator

If you’re a resident in Solway, Minnesota, and you require some quick cash, you might have considered taking out a payday loan. This type of loan is a short-term fix, usually for borrowers who require emergency financial assistance before their next payday. Payday loans are legal in Minnesota, making them a popular option for individuals who need cash quickly.

How do payday loans work in Solway, Minnesota?

Payday loans are a type of loan that typically has a term of two weeks. The amount borrowed is typically small, ranging from $100 to $1,000. The borrower must pay back the loan in full, plus interest and fees, before their next payday.

In Solway, Minnesota, payday loan borrowers must be at least 18 years old and have a valid government-issued ID, verifiable income, and an open and active checking account. Payday loan lenders in Minnesota can charge a maximum of 33 percent interest on loans up to $1,000, with an additional $25 administrative fee. Loans greater than $1,000 have a limit of 27 percent interest, with a maximum fee of $30.

What are the benefits of payday loans in Solway, Minnesota?

The main advantage of payday loans is that they are accessible to people with bad credit or no credit. Payday loan lenders generally do not require a credit check, which means they are a quick source of funds, even if you have a poor credit history.

Another benefit is that they are quick and easy to obtain. Many payday loan lenders in Solway, Minnesota, allow applicants to complete the entire loan application process online, from the comfort of their own homes. This can be especially convenient for people who require money urgently.

What are the risks of payday loans in Solway, Minnesota?

Payday loans in Solway, Minnesota, can be risky, particularly for borrowers who struggle to repay their loans on time. If a borrower fails to repay their loan in full, including interest and fees, they may be subject to penalties and additional fees. The cycle of debt can repeat itself, with the borrower taking out new loans to pay off old ones.

Another risk of payday loans is that they can have high interest rates. Although payday loan lenders in Minnesota are restricted to a maximum of 33 percent interest, this can still be a steep rate of interest, particularly if the loan is repaid late like other loans.

Facts and Statistics

  • In Minnesota, an average payday loan is $380, with an average term of 20 days.
  • Payday loans are legal in 36 states across the United States, including Minnesota.
  • Payday loan lenders in Minnesota can charge up to 33 percent interest on loans up to $1,000.
  • Minnesota has a maximum loan term of 30 days for payday loans, with a maximum amount of $1,000.

Apply Now

If you require some quick cash and a payday loan is a suitable option, you can fill out an application on our website. It is important to note that TheGuaranteedLoans is not a direct lender but a connector service that can link you with potential lenders. Please be sure to read all terms and conditions before accepting a loan.

Obtaining a payday loan in Solway, Minnesota, can be a quick and straightforward way to get cash when you need it most. However, it is important to use this type of loan responsibly and repay it on time to avoid falling into a cycle of debt. If you have any questions or concerns, don’t hesitate to contact us.

F.A.Q.

What are the eligibility requirements for payday loans in Solway, Minnesota?

To be eligible for a payday loan in Solway, Minnesota, you must be at least 18 years old and have a regular source of income.

Are there any limits on the amount I can borrow?

Yes, the maximum amount you can borrow is $350 in Solway, Minnesota.