Payday Loans in Trail, Minnesota

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

Company nameAddressZip codePhone number
Associated Bank 2999 County Rd 42 W, Burnsville, MN 55306 +1 (651) 306 - 1831
TruStone Financial Credit Union 17533 Cedar Ave, Lakeville, MN 55044 +1 (800) 862 - 1998
Home Federal Savings Bank 175 Center St, Winona, MN 55987 +1 (507) 453 - 6460
Minnwest Bank 14820 MN-7, Minnetonka, MN 55345 +1 (952) 230 - 9800
Liberty Bank Minnesota 818 2nd St S 120, Waite Park, MN 56387 +1 (320) 258 - 3256
Jackson Hewitt Tax Service 1000 18th Ave NW, Austin, MN 55912 +1 (507) 460 - 4178
Harvest Bank 222 Atlantic Ave, Atwater, MN 56209 +1 (320) 974 - 8861
Premier Loans 181 S River Ridge Cir, Burnsville, MN 55337 +1 (952) 345 - 7550
Frandsen Bank & Trust 7429 Excelsior Rd, Baxter, MN 56425 +1 (218) 855 - 1320
First National Bank-Jacksboro 1018 Hobart St, Hawley, MN 56549 +1 (800) 642 - 0014

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Trail, 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, Payday Loans in Duluth, MN, 24-Hour Loan in Eden Prairie, MN, Quick Loan in Inver Grove Heights, MN, Short-term Loans in Lakeville, MN and Payday 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 Trail, MN.

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

56684

Are Payday Loans Legal In Trail, 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

Trail, MN payday loan calculator

If you live in Trail, Minnesota and are in need of emergency cash, then payday loans may be a solution for you. Payday loans are short-term loans designed to cover unexpected expenses and are legal in the state of Minnesota. However, before applying for a payday loan, it is important to understand how they work, their benefits, and their potential disadvantages.

What is a Payday Loan?

A payday loan is a short-term loan that is typically due on your next payday. The loan amount is usually small, ranging from a few hundred to a few thousand dollars. You can apply for a payday loan online or in-person at a payday loan store. The lender will typically require proof of income, such as pay stubs or bank statements, and a post-dated check or authorization to withdraw funds from your bank account on the due date.

Benefits of Payday Loans

  • Quick and easy application process: Applying for a payday loan is typically a quick and easy process. You can fill out an application online in just a few minutes or visit a payday loan store.
  • No credit check: Most payday lenders do not require a credit check, which means that people with bad credit can still qualify for a loan.
  • Fast funding: If you are approved for a payday loan, you can typically receive the funds within 24 hours. This can be beneficial if you need money quickly to cover unexpected expenses.

Potential Disadvantages of Payday Loans

  • High-interest rates: Payday loans typically have high-interest rates, which can make them expensive. The interest rate is typically expressed as a percentage of the loan amount and can vary depending on the lender and the state where you live.
  • Short repayment terms: Payday loans are typically due on your next payday, which means that you may only have a few weeks to repay the loan. If you are unable to repay the loan on time, you may incur additional fees and interest charges.
  • Debt cycle: Some people may become trapped in a cycle of debt if they take out multiple payday loans and are unable to repay them on time.

Interesting Facts or Statistics about Payday Loans in Trail, Minnesota

  • According to data from the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans per year and spends an average of 199 days in debt per year.
  • A study by the Pew Charitable Trusts found that the average payday loan borrower in Minnesota takes out eight loans per year and spends an average of $366 on interest.
  • Minnesota law caps the interest rate on payday loans at 33% for loans up to $1,000 and 24% for loans between $1,000 and $5,000.

Apply Now

At TheGuaranteedLoans, we offer a simple online application process for payday loans. Simply fill out our online application and we will connect you with potential lenders who may be able to provide you with the funds you need. Please note that we are a connector service, not a direct lender, and that the terms and conditions of the loan will vary depending on the lender. It is important to read the terms and conditions carefully before accepting the loan.

In conclusion, payday loans can be a solution for those in need of emergency cash. However, it is important to understand the potential benefits and disadvantages of payday loans and to use them responsibly. If you decide to apply for a payday loan, make sure to do so through a reputable lender and to read the terms and conditions carefully.

F.A.Q.

Can I apply for a payday loan if I am a military member or veteran in Trail, Minnesota?

Yes, you can apply for a payday loan in Trail, Minnesota if you are a military member or veteran. However, it is recommended to explore other options, as military members and veterans have access to special financial resources and protections.

Are there any nonprofit organizations or government agencies that offer financial assistance in Trail, Minnesota?

Yes, there are nonprofit organizations and government agencies in Trail, Minnesota that offer financial assistance to individuals in need. These include organizations such as the Minnesota Office of Higher Education and the Minnesota Department of Human Services.