Payday Loans in Trosky, Minnesota

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

Company nameAddressZip codePhone number
ATM Associated Bank 7533 Egan Dr, Savage, MN 55378 +1 (800) 627 - 3999
Jackson Hewitt Tax Service 2301 E Frontage Rd, Litchfield, MN 55355 +1 (320) 849 - 3005
Northern State Bank 201 3rd St E, Thief River Falls, MN 56701 +1 (218) 681 - 4020
S & P Loan Co 2101 US-169, Grand Rapids, MN 55744 +1 (218) 326 - 4140
C & M Ford Sales, Inc. 702 N Atlantic Ave, Hallock, MN 56728 +1 (218) 843 - 2652
Raymond James Financial Services 7558 Design Rd, Baxter, MN 56425 +1 (218) 828 - 5191
SouthPoint Financial Credit Union 502 Cherry Dr, Waconia, MN 55387 +1 (877) 794 - 6712
U.S. Bank Branch 1712 Pine Cone Rd S, Sartell, MN 56377 +1 (320) 259 - 7560
Members Cooperative Credit Union: Jessica Lindahl Mortgage Loan Originator - NMLS 1572060 305 Lundorff Dr, Sandstone, MN 55072 +1 (218) 351 - 1311
Sterling State Bank 10 25th St SE, Rochester, MN 55904 +1 (507) 280 - 9600

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Trosky, MN, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Andover, MN, Payday Loans in Burnsville, MN, Payday Loan Companies in Cottage Grove, MN, Emergency Loan in Duluth, MN, Payday Loan Companies in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Payday Loan Without a Credit Check 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 Trosky, MN.

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

56177

Are Payday Loans Legal In Trosky, 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

Trosky, MN payday loan calculator

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

Are you in need of quick cash to cover unexpected expenses in Trosky, Minnesota? You may be considering a payday loan. These short-term loans are a popular option for those who need money fast, but before you apply, there are a few things you should know.

What are payday loans?

Payday loans are small, short-term loans that are typically due on your next payday. They are designed to help you cover unexpected expenses or bridge the gap between paychecks.

Unlike traditional personal loans, payday loans often have higher interest rates and fees, and are usually for smaller amounts of money. In Minnesota, payday loans are legal, but there are regulations in place to protect borrowers.

How do payday loans work in Trosky, Minnesota?

In Trosky, Minnesota, the maximum payday loan amount is $350. Lenders are allowed to charge up to 33% interest on the loan, as well as a $25 administrative fee.

When you receive a payday loan, you will typically be required to provide a post-dated check or authorize an electronic debit for the amount of the loan plus fees. The lender will hold onto this until your next payday, when they will cash the check or withdraw the funds from your account.

If you are unable to repay the loan on your next payday, the lender may offer you an extension or rollover, but this will likely result in additional fees and interest charges.

What are the pros and cons of payday loans?

Payday loans can be a helpful option if you need money quickly to cover unexpected expenses. They are often easier to qualify for than traditional loans and can be processed quickly.

However, payday loans often come with high interest rates and fees, which can make them difficult to repay. If you are unable to repay the loan on time, you may be hit with additional fees and interest charges, which can lead to a cycle of debt.

Interesting Facts About Payday Loans in Trosky, Minnesota

  • In Minnesota, borrowers are limited to taking out one payday loan at a time.
  • In 2019, the Minnesota Department of Commerce reported that the average payday loan interest rate in the state was 277%.
  • A study by the Pew Charitable Trusts found that the average payday loan borrower in Minnesota takes out eight loans per year and spends nearly $400 on interest and fees for each loan.

Apply Now

If you need a payday loan in Trosky, Minnesota, TheGuaranteedLoans can help. As a connector service, we will facilitate your connection with potential lenders. Simply fill out our online application, and we will match you with lenders who may be able to offer you the cash you need.

Remember, payday loans should only be used for emergency expenses and should be repaid as soon as possible to avoid additional fees and interest charges. If you are struggling with debt, consider speaking with a financial advisor or credit counselor to explore other options.

F.A.Q.

How long do I have to repay the loan?

You must repay the loan within 30 days.

Are there any fees or charges associated with payday loans in Trosky, Minnesota?

Yes, there is a fee of $15.50 per $100 borrowed, which must be paid in addition to the loan amount.