Payday Loans in Wright, Minnesota

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

Company nameAddressZip codePhone number
Zumbrota Ford 1660 S Main St, Zumbrota, MN 55992 +1 (507) 732 - 5127
Angland Janelle CPA 309 NW 3rd St, Brainerd, MN 56401 +1 (218) 829 - 3585
Roessler & Co Ltd 813 S Pokegama Ave, Grand Rapids, MN 55744 +1 (218) 327 - 2474
Wings Financial Credit Union 310 Hundertmark Rd, Chaska, MN 55318 +1 (952) 997 - 8000
Central Minnesota Credit Union 1025 W Main St, Paynesville, MN 56362 +1 (888) 330 - 8482
St Cloud Financial Credit Union 1716 Pine Cone Rd S, Sartell, MN 56377 +1 (320) 252 - 2634
UnBank Check Cashing & Loans- Downtown Minneapolis 727 Hennepin Ave, Minneapolis, MN 55403 +1 (612) 843 - 5212
First Southeast Bank 111 Main St N, Canton, MN 55922 +1 (507) 743 - 2204
Citizens State Bank of Hayfield Dodge Center 42 W Main St, Dodge Center, MN 55927 +1 (507) 374 - 6090
Harvest Bank 321 Pacific Ave, Kandiyohi, MN 56251 +1 (320) 382 - 6100

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Wright, MN

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

55798

Are Payday Loans Legal In Wright, 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

Wright, MN payday loan calculator

Payday loans are one way to get quick access to cash in times of emergency. If you are in Wright, Minnesota, you may be wondering about the laws and regulations surrounding these loans. In this article, we will provide you with an overview of payday loans in Wright, Minnesota, and how they work.

What Are Payday Loans?

A payday loan is a short-term loan that is meant to be paid back on the borrower’s next payday. These loans are typically available to those who have a steady source of income and a checking account. Many payday lenders do not require a credit check, making them an option for those with poor credit.

Payday loans can range from $100 to $1000, depending on the lender and the borrower’s eligibility. The loan amount and any applicable fees must be repaid in full by the borrower’s next payday.

Payday Loan Requirements in Wright, Minnesota

If you are considering taking out a payday loan in Wright, Minnesota, there are several requirements you must meet:

Age Requirements

You must be at least 18 years old to apply for a payday loan.

Residency Requirements

You must be a resident of Wright, Minnesota to apply for a payday loan. Lenders may require proof of residency, such as a utility bill or lease agreement.

Income Requirements

You must have a steady source of income to be eligible for a payday loan. This can include income from a job, Social Security, or disability payments. Lenders may require proof of income, such as a pay stub or bank statement.

How Do Payday Loans Work?

Payday loans are meant to be a short-term solution for emergency cash needs. The application process is relatively simple, and funds can be deposited into your bank account as soon as the same day.

To apply for a payday loan, you will need to fill out an application with a lender. You will need to provide personal information, such as your name, address, and Social Security number. You will also need to provide information about your income and employment.

Once your application is submitted, the lender will review it and determine if you are eligible for a loan. If approved, you will receive the loan amount, minus any fees, deposited into your bank account.

On your next payday, the loan amount and any applicable fees will be automatically deducted from your bank account. If you cannot repay the loan in full, the lender may extend the loan and add additional fees.

Are Payday Loans Legal in Wright, Minnesota?

Payday loans are legal in Wright, Minnesota. However, there are regulations that lenders must follow to protect consumers.

Minnesota law requires that payday lenders be licensed with the state. They must also follow certain rules, including:

  • The loan amount cannot exceed $350
  • The loan term must be between 14 and 30 days
  • The lender may charge up to $15 for every $100 borrowed
  • The lender may not charge more than 33% interest per year
  • The lender may not charge any additional fees, such as application fees or upfront fees

If a lender violates these regulations, they may be subject to fines and penalties.

Interesting Facts About Payday Loans in Wright, Minnesota

  • In 2016, Minnesota payday lenders issued over 385,000 loans
  • The average loan amount was $380
  • Payday lenders in Minnesota charged an average interest rate of 277%
  • Minnesota has the lowest average payday loan APR in the country at 200.45%

Apply Now for a Payday Loan

If you are in need of emergency cash and are considering a payday loan, TheGuaranteedLoans can help. We are a connector service that works with a network of trusted lenders to match borrowers like you with potential lenders.

Our online application process is fast and easy. Simply fill out the form with your personal and financial information, and we will match you with a lender who may be able to offer you a loan.

Remember, TheGuaranteedLoans is not a direct lender. We do not make credit decisions or determine loan terms. We simply facilitate your connection with potential lenders and help you get the cash you need.

Conclusion

Payday loans can be a useful tool for those in need of emergency cash. However, it is important to understand the regulations and requirements surrounding these loans in Wright, Minnesota. By following the guidelines outlined in this article, you can make an informed decision about whether a payday loan is right for you.

F.A.Q.

Can a payday lender refuse to provide a loan if I have a poor credit score in Wright, Minnesota?

Yes, a payday lender can refuse to provide a loan if you have a poor credit score in Wright, Minnesota. However, they are required to provide information about alternative forms of credit.

Are there any alternatives to payday loans in Wright, Minnesota?

Yes, there are alternatives to payday loans in Wright, Minnesota, such as personal loans from banks or credit unions, or borrowing from friends or family. These options may have lower interest rates and fees.