Payday Loans in Wood, South Dakota

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Thomas M Fuzzey - Ameriprise Financial Services, Inc. 5120 South Western Avenue Nursery, Sioux Falls, SD 57108 +1 (605) 332 - 4600
Cash with Us 406 E North St, Rapid City, SD 57701 +1 (605) 341 - 9950
LPL Financial 415 S Main St 205, Aberdeen, SD 57401 +1 (605) 225 - 1819
Dollar Loan Center 860 21st St SW, Huron, SD 57350 +1 (605) 352 - 5626
Cornerstone Bank 6045 S Louise Ave Ste 100, Sioux Falls, SD 57108 +1 (605) 305 - 3400
CorTrust Bank 400 Meckling St, Gayville, SD 57031 +1 (605) 267 - 4487
Finova Financial 101 S Reid St 307, Sioux Falls, SD 57103 +1 (888) 358 - 4452
Klabo Brown & Co LLC 102 3rd Ave SW, Aberdeen, SD 57401 +1 (605) 229 - 4359
EZ Payday Advance 3828 6th Ave SE E, Aberdeen, SD 57401 +1 (605) 225 - 4700
Ace Loan 1315 Haines Ave B, Rapid City, SD 57701 +1 (605) 343 - 1632

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Wood, 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 Loan Companies 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 Wood, SD.

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

57585

Are Payday Loans Legal In Wood, 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

Wood, SD payday loan calculator

Payday Loans in Wood, South Dakota

If you live in Wood, South Dakota, and are struggling to make ends meet, you may be considering taking out a payday loan. Payday loans are a short-term, high-interest form of borrowing that can be helpful in emergencies, but they can also be risky if you’re not careful. In this article, we’ll take a closer look at payday loans in Wood, South Dakota, so you can make an informed decision about whether they’re right for you.

How Do Payday Loans Work?

Payday loans are typically small, short-term loans that are designed to tide you over until your next paycheck arrives. To qualify for a payday loan, you’ll need to show proof of income and provide a post-dated check or authorize an electronic debit for the loan amount plus fees. When your next payday arrives, the lender will cash your check or debit your bank account to repay the loan.

The fees for payday loans are typically a flat fee per $100 borrowed, and they can add up quickly. In South Dakota, payday lenders can charge up to 36% interest per annum plus a one-time origination fee of no more than 10% of the loan amount.

Are Payday Loans Legal in Wood, South Dakota?

Yes, payday loans are legal in Wood, South Dakota. However, the state has implemented some restrictions on payday lending to protect consumers from predatory lenders. For example, payday loans in South Dakota cannot exceed $500, and lenders are limited to charging no more than 36% interest per year plus a one-time origination fee of no more than 10% of the loan amount. Additionally, lenders cannot charge a fee for prepaying your loan.

The Benefits of Payday Loans in Wood, South Dakota

Payday loans can be a helpful form of borrowing if you’re facing an unexpected expense or a short-term cash flow problem. Some of the benefits of payday loans include:

  • Quick approval: Payday loans are typically approved within minutes, so you can get the money you need fast.
  • No credit check: Payday lenders don’t typically check your credit score, so you can still qualify even if you have bad credit.
  • Flexible repayment options: You can often choose to repay your loan on your next payday or extend the loan term if you need more time to repay.

The Risks of Payday Loans in Wood, South Dakota

While payday loans can be helpful in emergencies, they can also be risky if you’re not careful. Some of the risks of payday loans include:

  • High interest rates: The fees for payday loans can add up quickly, and you can end up paying more in interest than you borrowed.
  • Debt traps: Because payday loans are due on your next payday, they can be difficult to repay if you’re living paycheck to paycheck. You may find yourself taking out additional loans to repay your previous loan, leading to a cycle of debt.
  • Unscrupulous lenders: Not all payday lenders are reputable, and some may engage in aggressive or fraudulent practices. Be sure to research any lender you’re considering and read reviews from other borrowers.

Facts About Payday Loans in Wood, South Dakota

  • According to a report by the South Dakota Division of Banking, there were 503 licensed payday lenders operating in the state in 2018.
  • In 2016, South Dakota residents took out 239,000 payday loans with an average loan amount of $312 and an average repayment term of 14 days.
  • South Dakota has one of the lowest payday loan usage rates in the country, with only 5% of adults taking out a payday loan in the past five years, according to a nationwide Pew survey.

Apply Now

If you’re considering a payday loan in Wood, South Dakota, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, so we can help you find a loan that meets your needs and budget. To get started, simply fill out our online application and we’ll match you with lenders who may be able to help.

Remember, payday loans can be risky, so it’s important to borrow only what you need and can afford to repay. Be sure to read the terms and conditions of any loan agreement carefully, and don’t hesitate to ask questions if you’re unsure about any aspect of the loan.

F.A.Q.

Is it safe to apply for a payday loan online in Wood, South Dakota?

Yes, it is generally safe to apply for a payday loan online in Wood, South Dakota, as long as you choose a reputable lender and take steps to protect your personal information.

Can I take out a payday loan if I am on a fixed income in Wood, South Dakota?

Yes, you can take out a payday loan if you are on a fixed income in Wood, South Dakota, as long as you have a regular source of income and can afford to repay the loan.

Look for Short-Term Loans in Other Cities: