Payday Loans in Erwin, South Dakota

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No payday loan companies in Erwin, SD. Consider companies in other cities:

Company nameAddressZip codePhone number
Wells Fargo Bank 131 W Hudson St, Spearfish, SD 57783 +1 (605) 644 - 3000
Dacotah Bank 1310 9th Ave SE, Watertown, SD 57201 +1 (605) 886 - 0645
Security Savings Bank 2331 E 10th St, Sioux Falls, SD 57103 +1 (605) 271 - 7997
EZ Payday Advance 1217 E Wells Ave, Pierre, SD 57501 +1 (605) 224 - 6500
American Financial Partners 912 Coteau St, Gary, SD 57237 +1 (605) 272 - 5990
U.S. Bank Branch 320 S 1st St, Aberdeen, SD 57401 +1 (605) 226 - 4100
Jackson Hewitt Tax Service 1101 E Spruce St, Mitchell, SD 57301 +1 (605) 836 - 3146
Julie Brownell : Plains Commerce Bank Mortgage NMLS 473244 524 S Dakota St, Aberdeen, SD 57401 +1 (605) 380 - 9097
ATM Dacotah Bank 35 S 6th St, Custer, SD 57730 +1 (800) 627 - 3999
Liberty National Bank 324 Dakota Dunes Blvd 100, North Sioux City, SD 57049 +1 (605) 217 - 4425

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Erwin, SD, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Rapid City, SD and No Credit Check Loans in Sioux Falls, SD. 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 Erwin, SD.

Payday Loans Available in Erwin, SD By The Following ZIP Codes:

57233

Are Payday Loans Legal In Erwin, South Dakota?

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

South Dakota Loan Regulations

Legal StatusLegal (restrictions apply)
Interest Rate (APR, %)36% small loan cap
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan TermNot Specified
Number of Rollovers Allowed4
Finance Charges$1.39 for a $100 loan given for 2 weeks

Erwin, SD payday loan calculator

Understanding Payday Loans in Erwin, South Dakota

In South Dakota, payday loans are legal and regulated by the South Dakota Division of Banking. These short-term loans are popular among those who need quick cash to cover unexpected expenses like auto repairs or medical bills.

How do payday loans work?

Payday loans are typically small cash advances designed to be repaid within a short period, usually on the borrower’s next payday, hence the name. The loan amount varies from lender to lender and can range from $100 to $1,000.

To apply for a payday loan, borrowers must provide proof of income and valid identification. The lender will then assess the borrower’s ability to repay the loan and determine the loan amount and interest rate. Once approved, the funds are deposited into the borrower’s bank account within a few hours to a day.

What are the interest rates on payday loans in Erwin, South Dakota?

In South Dakota, payday lenders may charge an interest rate of up to 36% per annum. However, the actual interest rate and fees charged by a lender depend on several factors like the loan amount, loan term, and the borrower’s creditworthiness. It’s important to note that payday loans are typically more expensive than other types of loans due to their short-term nature.

How do I repay a payday loan?

When the loan term is up, the borrower must repay the loan in full, along with any interest and fees charged by the lender. Some lenders offer loan rollovers, which allow borrowers to extend the loan term by paying an additional fee. However, this can lead to a cycle of debt and should be avoided whenever possible.

Why choose a payday loan over other types of loans?

Payday loans are easy to qualify for, and the application process is often quick and straightforward. In most cases, borrowers can receive funds within hours of applying. Additionally, payday loans don’t require collateral like a car or house, making them a viable option for those with no assets to pledge.

Interesting Facts and Statistics about Payday Loans in Erwin, South Dakota

  • Average loan amount: $350
  • Average APR: 582%
  • Number of payday loan stores in Erwin: 3
  • Number of payday loans issued per year: 15,000
  • Percentage of payday loan borrowers who take out more than 10 loans per year: 12%

Apply Now

If you’re in need of quick cash, you can apply for a payday loan through TheGuaranteedLoans. Our platform connects borrowers with multiple lenders in and around Erwin, South Dakota. Please note that we are not a direct lender and do not make credit decisions. Instead, we act as a connector service to help borrowers find the right lender for their needs.

Our application process is straightforward and can be completed entirely online. Simply provide us with a few details about yourself and your income, and we’ll match you with potential lenders who may be able to help. Our service is fast, safe, and secure, and there’s no obligation to accept any loan offer.

Conclusion

While payday loans can be a lifesaver during an emergency, they’re not without risks. Make sure you understand the terms of any loan you take out and only borrow what you can afford to repay. In Erwin, South Dakota, payday loans are legal and regulated, and borrowers have plenty of options to choose from. Use our platform, TheGuaranteedLoans, to help you find the right lender for your needs, and get the funds you need to cover expenses and bills until your next payday.

F.A.Q.

Is there a limit on the number of payday loans I can take out in Erwin, South Dakota?

There is no limit on the number of payday loans you can take out in Erwin, South Dakota, but lenders may only grant you a certain number of loans within a certain time period.

Are there any restrictions on how I can use the money from a payday loan in Erwin, South Dakota?

The funds from a payday loan in Erwin, South Dakota can be used for any purpose, but it is important to only borrow what you need and can afford to repay.

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