Payday Loans in Mercer, North Dakota

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No payday loan companies in Mercer, ND. Consider companies in other cities:

Company nameAddressZip codePhone number
Lincoln State Bank 400 Ash Ave, Wyndmere, ND 58081 +1 (701) 439 - 2243
AgCountry Farm Credit Services 802 W Caledonia Ave, Hillsboro, ND 58045 +1 (701) 636 - 4842
FirstLight Home Care of Central North Dakota 126 2nd Ave SW Suite 111, Rugby, ND 58368 +1 (701) 881 - 0101
S.A.M. Check Cashing Machine 1401 33rd St S, Fargo, ND 58103 +1 (701) 237 - 4120
AgCountry Farm Credit Services 200 1st St SW, Lamoure, ND 58458 +1 (701) 883 - 5291
Peoples Bank Main St, Plaza, ND 58771 +1 (701) 497 - 3379
United States Postal Service 220 E Rosser Ave Rm 112, Bismarck, ND 58501 +1 (800) 275 - 8777
American Bank Center 1151 3rd Ave W, Dickinson, ND 58601 +1 (701) 483 - 7500
North Dakota Guaranty & Title Company, Williston 116 Main St, Williston, ND 58801 +1 (701) 774 - 3054
First Dakota Bank 1 1st St E, New Leipzig, ND 58562

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mercer, ND, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Bismarck, ND, Short-term Loans in Fargo, ND, Payday Loans in Grand Forks, ND, Payday Loans in Minot, ND and Quick Loan in West Fargo, ND. 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 Mercer, ND.

Payday Loans Available in Mercer, ND By The Following ZIP Codes:

58559

Are Payday Loans Legal In Mercer, North Dakota?

Loan Rates and Fees, Laws and Regulations in North Dakota.

North Dakota is a state where payday lending is legally allowed. This means that you can take out payday loans with high interest rate and rollovers - but there are other states in the USA where these issues are regulated by law. If you no longer want to use payday loans, avoid taking out too many financial contracts - as this can cause negative consequences.

North Dakota Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)487
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term60 days
Number of Rollovers Allowed1
Finance Charges20% of the amount advanced

Mercer, ND payday loan calculator

What are Payday Loans?

Payday loans are a type of short-term loan designed to help people in need of immediate financial assistance. They are typically intended to cover unexpected expenses or emergencies that may arise between paychecks.

In Mercer, North Dakota, payday loans are legal under state law, and there are multiple licensed lenders available to offer these loans, including online lenders and brick-and-mortar establishments.

How Do Payday Loans Work in Mercer, North Dakota?

Payday loans in Mercer, North Dakota work similarly to payday loans in other states in the country. The borrower typically writes a post-dated check or grants an electronic debit authorization to the lender for the amount of the loan plus any applicable fees. In return, the lender provides the borrower with the requested amount in cash or a direct deposit to their bank account. The loan amount is generally due on the borrower’s next payday, which is usually within two weeks.

The maximum loan amount that can be borrowed in Mercer, North Dakota is $500, and the interest rate is set at 20% per annum. Additionally, lenders may charge a fee of up to $20 for every $100 borrowed.

Benefits and Risks of Payday Loans in Mercer, North Dakota

Like any financial product, payday loans have both benefits and risks that borrowers should consider before taking out a loan.

Benefits:

  • Quick and easy approval process
  • No credit check required
  • Flexible repayment terms

Risks:

  • High interest rates
  • Potential for debt traps if the borrower cannot repay the loan on time
  • Additional fees for non-payment or late payment

It is important to carefully consider both the benefits and risks of payday loans before deciding to take out a loan.

Interesting Facts about Payday Loans in Mercer, North Dakota

According to a report from the North Dakota Department of Financial Institutions, payday lenders in Mercer and other parts of the state collected over $13 million in fees and interest in 2020.

Additionally, the report found that 80% of payday loan borrowers in North Dakota take out more than one payday loan per year, indicating potential difficulty in repaying these loans on time.

Apply Now

If you are in need of immediate financial assistance, TheGuaranteedLoans is here to help. As a connector service, we work with a network of reputable lenders to provide you with a quick and easy way to find the right payday loan for your needs.

Simply fill out our online application, and we will match you with potential lenders who can offer you the funding you need. Remember, we are not a direct lender, but we are committed to facilitating your connection with the right lender for your financial situation.

Don’t let unexpected expenses or emergencies get in the way of your financial well-being. Apply now for a payday loan through TheGuaranteedLoans and take control of your finances today.

F.A.Q.

What should I consider before taking out a payday loan in Mercer, North Dakota?

Before taking out a payday loan in Mercer, North Dakota, it is important to carefully consider your financial situation and ability to repay the loan. Payday loans can be a costly form of credit, so it is important to make sure that you can afford the fees and interest charges. It is also a good idea to compare rates and terms from multiple lenders to find the best deal.

What are payday loans and how do they work in Mercer, North Dakota?

Payday loans are short-term loans that are typically used to cover unexpected expenses or emergencies until the borrower's next paycheck. in Mercer, North Dakota, payday lenders are required to follow state laws that regulate the terms and conditions of these loans, including maximum loan amounts, fees, and repayment periods.

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