Payday Loans in Frankfort, South Dakota

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

Company nameAddressZip codePhone number
First Dakota National Bank 211 N Main St, Blunt, SD 57522 +1 (605) 962 - 6231
Jackson Hewitt Tax Service 1201 29th St SE, Watertown, SD 57201 +1 (605) 809 - 3696
Mazaska Owecaso Otipi Financial 108 oglala St, Pine Ridge, SD 57770 +1 (605) 867 - 1018
FNBO - First National Bank of Omaha 210 N Lawler St, Mitchell, SD 57301 +1 (605) 996 - 7755
SDRS Supplemental Retirement Plan 222 E Capitol Ave, Pierre, SD 57501 +1 (605) 224 - 2395
Wells Fargo Bank 101 S Chicago St, Hot Springs, SD 57747 +1 (605) 745 - 8250
Dacotah Bank 125 Main St, Rapid City, SD 57701 +1 (605) 394 - 9000
Farmers State Bank 220 E 5th St, Canton, SD 57013 +1 (605) 987 - 2671
Explorers Credit Union 609 W 21st St, Yankton, SD 57078 +1 (605) 665 - 4309
Anderson Auto Sales 401 N 5th St 1134, Custer, SD 57730 +1 (605) 673 - 2809

Payday Loan Companies in Nearby Cities

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

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

57440

Are Payday Loans Legal In Frankfort, 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

Frankfort, SD payday loan calculator

Advise to read before applying

Payday Loans in Frankfort, South Dakota: What You Need to Know

Payday loans continue to be a topic of interest for many people, especially those who need cash fast or have a less-than-perfect credit score. If you’re in Frankfort, South Dakota, it’s important to understand the local laws and regulations surrounding payday loans, as well as the application process and potential risks involved. In this article, we’ll provide all the essential information you need to know about payday loans in Frankfort, South Dakota.

What is a Payday Loan?

A payday loan, also known as a cash advance loan, is a short-term loan that is typically due on or around your next payday. Payday loans are often used to cover emergency expenses or unexpected bills and can provide a quick and easy solution for those who need cash fast. However, payday loans come with high interest rates and fees, so it’s important to carefully consider whether a payday loan is the right option for you.

Are Payday Loans Legal in South Dakota?

Yes, payday loans are legal in South Dakota. In 2016, South Dakota voters approved an initiated measure that capped interest rates for payday loans at 36%. This rate applies to all lenders, including those operating online or from out-of-state. Prior to the 36% cap, payday lenders in South Dakota could charge interest rates as high as 574%.

How Do You Apply for a Payday Loan in Frankfort, South Dakota?

The application process for a payday loan in Frankfort, South Dakota is generally quick and simple. To apply, you will typically need to provide the following information:

  • Proof of income, such as a paystub or bank statement
  • Proof of identity, such as a driver’s license or state ID
  • Bank account information, including your account number and routing number

Once you’ve provided this information, the lender will typically review your application and make a decision within minutes. If you’re approved, the loan amount will be deposited directly into your bank account, usually within one business day.

What are the Risks of Payday Loans?

While payday loans can provide a convenient solution for those who need cash fast, they also come with significant risks and drawbacks. One of the biggest risks of payday loans is the high interest rates and fees. In South Dakota, lenders are limited to a maximum interest rate of 36%. However, this still results in a high effective annual percentage rate (APR) compared to other types of loans.

Another risk of payday loans is the potential for a debt cycle. If you’re unable to repay the loan on the due date, you may be required to pay additional fees and interest charges. This can make it difficult to pay off the loan, and you may find yourself taking out additional payday loans to cover the costs.

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

  • In 2016, South Dakota residents voted to cap payday loan interest rates at 36%.
  • According to the Center for Responsible Lending, the average annual interest rate for a payday loan in South Dakota is 574%.
  • The majority of payday loan borrowers in South Dakota have an annual income of less than $30,000.

Apply Now

If you’re considering a payday loan in Frankfort, South Dakota, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we work with a network of trusted lenders to provide you with the best options based on your individual needs and financial situation. Please note that we are a connector service, not a direct lender, and that our services are free to use.

Don’t let unexpected bills or expenses catch you off guard. Apply for a payday loan today and get the cash you need to stay on top of your finances.

F.A.Q.

Can I get a payday loan if I have bad credit in Frankfort, South Dakota?

Yes, borrowers with bad credit can obtain a payday loan in Frankfort, South Dakota. However, they may be charged a higher interest rate and fees compared to borrowers with good credit.

How do I repay my payday loan in Frankfort, South Dakota?

Borrowers can typically repay their payday loan in Frankfort, South Dakota by providing the lender with a post-dated check or authorizing an automatic withdrawal from their checking account on their next payday.

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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