Payday Loans in Tofte, Minnesota

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

Company nameAddressZip codePhone number
Frandsen Bank & Trust 712 MN-33, Cloquet, MN 55720 +1 (218) 879 - 6000
Associated Bank 101 1st Ave SW, Rochester, MN 55902 +1 (507) 285 - 2630
Lincoln Financial Advisors 1903 Broadway Ave S, Rochester, MN 55904 +1 (507) 282 - 3273
Wings Financial Credit Union 601 Iron Dr, Chisholm, MN 55719 +1 (952) 997 - 8000
Security Coin & Pawn Shop Inc 320 Litchfield Ave SW, Willmar, MN 56201 +1 (320) 235 - 9097
BMO Harris Bank 13798 Rogers Dr, Rogers, MN 55374 +1 (763) 428 - 7400
United Savings Credit Union 1121 US-10, Detroit Lakes, MN 56501
ATM Affinity Plus Federal Credit Union 1600 Madison Ave 101a, Mankato, MN 56001 +1 (800) 322 - 7228
Woodlands National Bank 26040 Main St, Zimmerman, MN 55398 +1 (763) 634 - 6030
Farmers State Bank 1452 W Main St, Albert Lea, MN 56007 +1 (507) 373 - 1945

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tofte, 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, Payday Loans in Moorhead, MN, Payday Loans in Rochester, MN, Online 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 Tofte, MN.

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

55615

Are Payday Loans Legal In Tofte, 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

Tofte, MN payday loan calculator

Payday loans can be a quick and easy solution to a financial emergency, but it’s important to understand the ins and outs of these quick cash loans before jumping in.

What are Payday loans in Tofte, Minnesota?

In Minnesota, payday loans are legal and regulated by the Minnesota Department of Commerce. These small-dollar loans are meant to be a short-term solution to financial emergencies. They’re typically due on your next payday and are meant to be repaid in full, including fees and interest.

Minnesota law limits the amount you can borrow with a payday loan to $350. Lenders cannot charge more than 33% interest and must provide a written agreement that clearly outlines the terms of the loan. The repayment period cannot exceed 30 days.

How do you apply for a Payday loan in Tofte, Minnesota?

If you’re considering a payday loan in Tofte, Minnesota, there are a few things you’ll need to consider before applying.

1. Make sure you meet the basic requirements

To qualify for a payday loan, you’ll typically need to have a steady income, a valid checking account, and be at least 18 years old. Some lenders may require additional information, such as proof of income or identification.

2. Find a reputable lender

It’s important to choose a lender that’s licensed in Minnesota and follows all state regulations. Do your research and read reviews before choosing a lender.

3. Apply online or in-store

Most lenders offer both online and in-store applications. Online applications are typically faster and more convenient, but you’ll still need to provide personal and financial information. Make sure the website is secure and your information is protected.

What are the Pros and Cons of Payday loans in Tofte, Minnesota?

Pros

  • Quick and convenient
  • No credit check required
  • No collateral required

Cons

  • High interest rates and fees
  • Can lead to a cycle of debt
  • May not solve long-term financial problems

While payday loans can be helpful in a financial emergency, they’re not a long-term solution. It’s important to weigh the pros and cons before deciding if a payday loan is right for you.

Interesting Facts and Statistics About Payday Loans in Tofte, Minnesota

  • The average payday loan in Minnesota is $380
  • Minnesota has the most payday lenders per capita in the country
  • A typical payday loan borrower in Minnesota takes out 10 loans per year

These statistics show that payday loans are a popular form of short-term lending in Minnesota. However, it’s important to carefully consider the terms of the loan and your ability to repay before taking out a payday loan.

Apply Now for a Payday Loan in Tofte, Minnesota

If you’re in need of quick cash to cover an unexpected expense, TheGuaranteedLoans can help connect you with potential lenders who may be able to provide a payday loan in Tofte, Minnesota.

As a connector service, TheGuaranteedLoans does not directly lend money. Instead, we work with a network of trusted lenders to match you with potential loan options. To get started, simply fill out our online application and we’ll do the rest.

Remember, payday loans should only be used in a financial emergency. Make sure to carefully consider the terms of the loan and your ability to repay before taking out a payday loan.

F.A.Q.

Is there a maximum number of times a payday loan can be extended in Tofte, Minnesota?

Yes, payday loans in Tofte, Minnesota can only be extended once.

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

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