Payday Loans in Wolf Lake, Minnesota

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

Company nameAddressZip codePhone number
Minnwest Corporation 14820 MN-7, Minnetonka, MN 55345 +1 (952) 545 - 8815
Northview Bank 510 Main St, Sandstone, MN 55072 +1 (320) 245 - 5261
Wells Fargo Home Mortgage - Cris Stratman 1010 2nd Ave 2352, Worthington, MN 56187 +1 (605) 376 - 0208
Anoka Hennepin Credit Union 11681 Theatre Dr N, Champlin, MN 55316 +1 (763) 422 - 0290
US Bancorp Manifest Funding 1310 Madrid St 100, Marshall, MN 56258 +1 (507) 532 - 7160
Kennedy Retirement Solutions 508 Main St S, Sauk Centre, MN 56378 +1 (320) 352 - 2419
West Bank 122 N Broad St, Mankato, MN 56001 +1 (507) 779 - 7940
Ideal Credit Union 14750 Victor Hugo Blvd, Hugo, MN 55038 +1 (651) 770 - 7000
First Financial Bank-Winnebago 1 S Main St, Winnebago, MN 56098 +1 (507) 893 - 3155
Walmart Money Center 295 Tyler Rd S, Red Wing, MN 55066 +1 (651) 385 - 0003

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Wolf Lake, MN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Andover, MN, Same Day Loans in Burnsville, MN, Payday Loans in Cottage Grove, MN, No Credit Check Loans in Duluth, MN, Payday Loan Companies in Eden Prairie, MN, Payday Loans in Inver Grove Heights, MN, Bad Credit 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 Wolf Lake, MN.

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

56593

Are Payday Loans Legal In Wolf Lake, 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

Wolf Lake, MN payday loan calculator

Payday loans are a popular option for those experiencing financial difficulties. In the state of Minnesota, payday loans are legal, and many people in the small town of Wolf Lake rely on them in times of need. If you’re considering a payday loan in Wolf Lake, it’s important to understand how they work and the potential risks involved.

How Payday Loans Work

Payday loans are short-term loans typically used to cover unexpected expenses or to bridge the gap between paychecks. In Wolf Lake, borrowers can receive up to $350 in payday loans, with a maximum term of 30 days. The interest rates and fees on payday loans can be high, so these loans are best used as a last resort.

Requirements

To qualify for a payday loan in Wolf Lake, you must:

  • Be at least 18 years old
  • Have a checking account
  • Provide proof of income
  • Provide a valid phone number and email address

Some lenders may also require a valid ID and proof of residence. It’s important to note that payday lenders do not typically conduct credit checks, so your credit score will not affect your eligibility.

Risks and Alternatives

Payday loans can be a risky form of borrowing due to their high interest rates and fees. In Wolf Lake, lenders are allowed to charge up to 33% interest on loans up to $350. This means that if you borrow $350, you could be charged up to $115 in fees and interest.

Before considering a payday loan, it’s important to explore other options such as:

  • Credit counseling
  • Payment plans with creditors
  • Personal loans
  • Credit cards

These alternatives may have lower interest rates and fees and can help you to avoid falling into a debt cycle.

Interesting Facts and Statistics about Payday Loans in Wolf Lake, Minnesota

  • The average payday loan in Wolf Lake is for $350
  • Approximately 10% of the population in Wolf Lake has taken out a payday loan in the past year
  • The average interest rate on a payday loan in Wolf Lake is 23%
  • Payday lenders in Wolf Lake made $1.5 million in profits last year

These facts and statistics help to highlight the prevalence and impact of payday loans in Wolf Lake. While they may be a necessary option for some, it’s important to use them responsibly and to explore other alternatives whenever possible.

Apply Now

If you’re in need of a payday loan in Wolf Lake, consider applying through TheGuaranteedLoans. We are a connector service that works with a network of reputable lenders to help you find the best loan for your needs.

By filling out our online application, we can match you with potential lenders and help you to get the funds you need quickly and easily. Remember, we are not a direct lender, and our services are completely free to use. Apply now to see your options and get started on your financial journey.

F.A.Q.

Are there any protections for consumers who take out payday loans in Wolf Lake, Minnesota?

Yes, Minnesota has regulations in place to protect consumers who take out payday loans, including a cooling-off period between loans and a requirement for lenders to provide information about alternative forms of credit.

Can I be charged late fees for a payday loan in Wolf Lake, Minnesota?

Yes, late fees may be charged for a payday loan in Wolf Lake, Minnesota if the loan is not paid on time.