Payday Loans in Taconite, Minnesota

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

Company nameAddressZip codePhone number
City Auto Glass inside Boyer Motor Company 1162 Main St S, Sauk Centre, MN 56378 +1 (320) 352 - 2300
Scott Stavn - Raymond James 2506 E Beltline, Hibbing, MN 55746 +1 (218) 263 - 5000
Bremer Bank 6800 Cahill Ave, Inver Grove Heights, MN 55076 +1 (651) 451 - 8581
Minnesota Valley Associates - Thrivent Financial 20700 Chippendale Ave 9, Farmington, MN 55024 +1 (651) 463 - 1010
Payday America 168 Blake Rd N, Hopkins, MN 55343 +1 (952) 283 - 2224
Eagle Bank 2 Franklin St S, Glenwood, MN 56334 +1 (320) 634 - 4545
Northern Pawn 303 Credit Union Drive Northeast 9, Isanti, MN 55040 +1 (763) 444 - 7347
First National Bank-The North 510 Main St N, Sandstone, MN 55072 +1 (320) 245 - 0302
Sterling State Bank 16366 Kenrick Ave, Lakeville, MN 55044 +1 (952) 892 - 3997
Northern State Bank 201 3rd St E, Thief River Falls, MN 56701 +1 (218) 681 - 4020

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Taconite, MN, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Minneapolis, MN, Short-term Loans in Minnetonka, MN, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Payday Loans in Saint Cloud, MN, Payday Loans in Saint Paul, MN, Payday Loans in Savage, MN and Payday Loans 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 Taconite, MN.

Beautiful sights of Taconite, MN

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

55786

Are Payday Loans Legal In Taconite, 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

Taconite, MN payday loan calculator

Payday Loans in Taconite, Minnesota: What You Need to Know

Are you considering a payday loan in Taconite, Minnesota? While payday loans are legal in Minnesota, it’s important to understand the risks and benefits before taking out this type of loan.

What is a Payday Loan?

A payday loan is a short-term loan designed to help you cover unexpected expenses until your next payday. These loans are typically due on your next payday, which is usually within two weeks to a month of taking out the loan. The loan amount is usually small, ranging from $100 to $1,000.

The Pros and Cons of Payday Loans

Before taking out a payday loan, it’s important to consider the pros and cons.

  • Pros: Payday loans are fast and easy to obtain. You can typically get approved within minutes and receive the funds the same day. Payday loans don’t require a credit check, so they can be an option for people with bad credit.
  • Cons: Payday loans come with high interest rates and fees. The interest rates can be as high as 400%, which can make it difficult to pay back the loan on time. If you can’t pay back the loan on time, you may be subject to additional fees and penalties.

Payday Loans in Taconite, Minnesota

Payday loans are legal in Minnesota, but the state has implemented regulations to protect consumers. The maximum loan amount in Minnesota is $350. Lenders are required to be licensed and must follow certain regulations. For example, lenders can’t charge more than 33% interest on payday loans up to $1,000.

It’s important to note that payday loans can be a cycle of debt. If you can’t pay back the loan on time, you may be tempted to take out another payday loan to cover the first loan. This can lead to a cycle of borrowing and high interest rates.

Interesting Facts about Payday Loans in Minnesota

  • Fact 1: In Minnesota, payday lending is regulated by the Minnesota Department of Commerce.
  • Fact 2: According to a report by the Minnesota Department of Commerce, the average annual interest rate for payday loans in Minnesota is over 200%.
  • Fact 3: The number of payday lenders in Minnesota has decreased in recent years, from 111 in 2012 to 82 in 2020.

Apply Now

If you’re in need of a payday loan in Taconite, Minnesota, TheGuaranteedLoans can help connect you with potential lenders. Fill out an online application today to get started. It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender, and we don’t make credit decisions.

Before taking out a payday loan, it’s important to understand the risks and benefits. Consider your options and make sure you can afford to pay back the loan on time. If you have any questions or concerns, don’t hesitate to reach out to TheGuaranteedLoans or the Minnesota Department of Commerce.

F.A.Q.

Can I be charged with criminal charges for defaulting on a payday loan in Taconite, Minnesota?

No, payday lenders in Taconite, Minnesota are not allowed to file criminal charges against borrowers for defaulting on a loan.

Can payday lenders garnish my wages in Taconite, Minnesota?

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