Payday Loans in Stephen, Minnesota

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

Company nameAddressZip codePhone number
Bremer Bank 500 Willmar Ave SE, Willmar, MN 56201 +1 (320) 235 - 1111
Mobility Funding Group, Inc 2040 Frontage Rd S, Waite Park, MN 56387 +1 (320) 443 - 6060
Profinium 105 Lake Ave, Fairmont, MN 56031 +1 (507) 235 - 5538
United States Postal Service 116 N Lake Ave, Battle Lake, MN 56515 +1 (800) 275 - 8777
MidWest Mortgage Consultants 600 Soo Ln 6, Buffalo, MN 55313 +1 (763) 682 - 5626
Home Federal Savings Bank 715 N Broadway Ave, Spring Valley, MN 55975 +1 (507) 346 - 9709
Thrivent Financial for Lutherans 1125 Cedar St, Monticello, MN 55362 +1 (763) 271 - 0400
CLA CliftonLarsonAllen 110 2nd Ave SE, Waseca, MN 56093 +1 (507) 835 - 4412
PrimeLending, A PlainsCapital Company 4115 26th St NW 103, Rochester, MN 55901 +1 (507) 289 - 8800
Thrivent Financial 189 2nd Ave SW, Cambridge, MN 55008

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Stephen, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Minneapolis, MN, Payday Loans in Minnetonka, MN, Payday Loans in Moorhead, MN, Online Loans in Rochester, MN, Payday Loans in Saint Cloud, MN, Payday Loan Companies 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 Stephen, MN.

Beautiful sights of Stephen, MN

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

56757

Are Payday Loans Legal In Stephen, 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

Stephen, MN payday loan calculator

When you’re in a financial pinch and need funds quickly, payday loans can seem like a viable solution. In Stephen, Minnesota, payday loans are legal, but it’s important to understand the risks and benefits of these types of loans before you decide to apply.

What is a payday loan?

A payday loan is a small, short-term loan that is typically due on your next payday. These loans are often used to cover unexpected expenses such as car repairs or medical bills when you don’t have enough cash on hand. In Minnesota, payday loans are legal, but there are specific laws and regulations that lenders must follow.

How do payday loans work in Stephen, Minnesota?

In Stephen, Minnesota, payday loans are typically offered by storefront lenders or online lenders. To apply for a payday loan, you’ll need to provide proof of income and a valid ID. Lenders may require a post-dated check or access to your bank account to secure the loan.

The loan amount will vary depending on the lender and your income, but it’s typically between $100 and $500. The interest rates on payday loans in Minnesota can be high, so it’s important to understand the terms and fees before you agree to the loan.

What are the risks of payday loans?

While payday loans can be helpful in the short-term, they come with significant risks. The high interest rates and fees can make it difficult to pay back the loan on time, leading to a cycle of debt. If you’re unable to pay back the loan on time, the lender may charge additional fees and report your delinquency to credit bureaus.

Additionally, scammers may pose as legitimate lenders and try to steal your personal information. It’s important to only borrow from reputable lenders and to read the terms and conditions of the loan carefully.

What are the benefits of payday loans?

Despite the risks, there are some benefits to payday loans. For example, if you have bad credit or no credit history, payday loans may be easier to qualify for than other types of loans. Additionally, the application process is often quick and easy, and you can receive funds in as little as one business day.

The bottom line

Payday loans can be a helpful financial tool in certain situations, but they come with significant risks. Before you apply for a payday loan in Stephen, Minnesota, make sure you understand the terms and fees of the loan and have a solid plan for paying it back on time.

Interesting facts and statistics about payday loans in Stephen, Minnesota

  • In 2020, there were 166 licensed payday lenders in Minnesota.
  • Payday loans are legal in Minnesota, but lenders must follow specific laws and regulations.
  • The average payday loan in Minnesota is $380.
  • The maximum amount you can borrow in Minnesota is $350.
  • The average APR for payday loans in Minnesota is 237.45%.

Apply Now

If you’re considering a payday loan in Stephen, Minnesota, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application form to get started. Keep in mind that TheGuaranteedLoans is a connector service, not a direct lender. We work with a network of trusted lenders to help you get the funds you need.

F.A.Q.

What information do I need to provide to get a payday loan in Stephen, Minnesota?

To get a payday loan in Stephen, Minnesota, you will need to provide proof of income, identification, and a post-dated check or authorization to withdraw funds from your bank account.

Can I apply for a payday loan online in Stephen, Minnesota?

Yes, you can apply for a payday loan online in Stephen, Minnesota, but the lender must be licensed to operate in the state.