Payday Loans in Conger, Minnesota

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

Company nameAddressZip codePhone number
Lake Bank 613 1st Ave, Two Harbors, MN 55616 +1 (218) 834 - 2111
Bremer Bank 318 1st Ave SW 120, Rochester, MN 55902 +1 (507) 424 - 8282
Central Minnesota Credit Union Administration Center 20 4th Ave SE, Melrose, MN 56352 +1 (888) 330 - 8482
Thrivent Financial 800 Minnesota Ave W, Walker, MN 56484 +1 (218) 547 - 2798
MC Abrahamson Financial Services 828 E Lincoln Ave, Olivia, MN 56277 +1 (320) 523 - 5124
Bremer Bank 5990 Nova Scotia Ave North, Stillwater, MN 55082 +1 (651) 967 - 5640
Vermillion State Bank 2975 80th St E, Inver Grove Heights, MN 55076 +1 (651) 455 - 9596
First State Bank 88 N Park Ave, Le Center, MN 56057 +1 (507) 357 - 2225
Peoples Small Loan Co 701 MN-34, Detroit Lakes, MN 56501 +1 (218) 847 - 7718
Thrivent Financial-Lutherans 1822 4th St S, Sauk Centre, MN 56378 +1 (320) 352 - 2549

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Conger, MN

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

56020

Are Payday Loans Legal In Conger, 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

Conger, MN payday loan calculator

When facing unexpected bills or expenses, many people turn to payday loans as a solution. While it might seem like an easy way to get fast cash, it’s important to know the rules and regulations regarding payday loans in your state. In Minnesota, payday loans are legal, but there are strict limitations to keep in mind.

What is a Payday Loan?

For those unfamiliar with payday loans, it’s a type of short-term, high-interest loan that is typically due on the borrower’s next payday. It’s often marketed to low-income individuals or those with bad credit who may have difficulty qualifying for other types of loans. While payday loans may be useful in emergency situations, they can also lead to a cycle of debt due to their high fees and interest rates.

Payday Loans in Conger, Minnesota

Although payday loans are legal in Minnesota, the state has strict regulations in place to protect consumers. In Conger, Minnesota, lenders are required to follow these rules outlined by the Minnesota Attorney General:

  • Payday loans cannot exceed $350
  • Interest rates are capped at 33% APR on loans up to $1,000 and 22% APR on loans between $1,000 – $3,000
  • Loans cannot be rolled over or extended
  • Loan agreements must include all fees and terms in writing

The Pros and Cons of Payday Loans

While payday loans can provide a quick solution to unexpected expenses, it’s essential to understand the potential pros and cons.

Pros:

  • Quick and easy to obtain
  • May be accessible to those with bad credit or limited credit history
  • No collateral required

Cons:

  • High fees and interest rates can lead to a cycle of debt
  • Short repayment terms may be difficult to meet for some borrowers
  • May not be a sustainable long-term solution

Interesting Statistics about Payday Loans in Conger, Minnesota

According to data from the Minnesota Department of Commerce, there were 385,850 payday loans issued in Minnesota in 2019. The average loan size was $390, and the average annual percentage rate (APR) was 196%. Additionally, 20% of borrowers took out ten or more loans during the year.

How to Apply for a Payday Loan in Conger, Minnesota

If you need to apply for a payday loan in Conger, Minnesota, consider using TheGuaranteedLoans. We are not a direct lender, but a connector service that will facilitate your connection with potential lenders. Our online application process is easy and straightforward, and you’ll receive a decision quickly.

To start, visit TheGuaranteedLoans website and fill out our online application form. You’ll need to provide basic personal and financial information, including your name, address, income, and employment status. Once you submit your application, we’ll match you with a lender that suits your needs. If approved, you’ll receive the funds in your bank account in as little as one business day.

Conclusion

Payday loans can provide a quick solution to unexpected expenses, but they come with potential pitfalls and regulations. Before applying, take the time to understand the rules and regulations in Conger, Minnesota. Consider using TheGuaranteedLoans as a connector service to find a lender that suits your needs.

F.A.Q.

Are there any limits on the interest rates that payday lenders can charge in Conger, Minnesota?

Yes, the maximum interest rate that a payday lender can charge in Conger, Minnesota is 28% per year.

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

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