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Minnesota Payday Loans

When you have troubles stretching your money from paycheck to paycheck, it may be helpful to use the services we provide to get a little extra money. Loans Payday wants to get everyone access to the money they need when they need it, by giving Minnesota payday loans. The application process we use here at Loans Payday is painless and takes only a couple of minutes. In less than twenty-four hours those funds will appear in your bank account, ready for you to use. It does not get any easier to get access to a Minnesota payday loan.

Payday Loan Lending Laws in Minnesota

Minnesota payday loans are legal and binding as per the laws of the state. The state places a limit on the amount of money an individual can borrow, which is $350. For every $100 that is loaned, the lending company can charge interest rates and fees of $15. For a 14 day loan this equals out to an APR or Annual Percentage Rate of 390%. The maximum term of a payday loan in Minnesota is 30 days, which is similar to what you would find in other states. There are currently 55 different lenders offering Minnesota payday loans for those living in the state.

Do you live in Minnesota and need money right away? Maybe an unexpected bill popped up or you need money to pay off a visit to the emergency room or a doctor's appointment? Do you have any bills that need paying right away, but you just don't have the extra money? Even if you do not live in Minnesota you may need a little extra money to pay your bills. We provide assistance to people living in every part of the United States, not just those in Minnesota. Anyone who qualifies can apply for a Minnesota payday loan to get the money they need now to help them until their next paycheck comes. Our company believes in professionalism and we want you to be professional as well, which require paying your bills on time. Using our fast and reliable system is a great way to ensure that you pay your bills on time, without earning any late fees. We are here to help you when you need it.

A Minnesota payday loan is available for those who need money immediately. The money can be used for anything you desire; including solving those financial problems that you otherwise could not pay. We give you the money you need now, to use in any way you see fit so you can solve your problems immediately. We consider this a temporary loan because a Minnesota payday loan must be paid back when you receive your next paycheck.

The real mission of our company is to give our customers the best service possible because our customers deserve it. We are dedicated to meeting this mission statement every single day. We believe in making the process of borrowing money as easy and simple as possible to limit the hassles you might otherwise face. We accept applications filed over our website and even encourage it! This completely electronic way of doing business reduces problems even more. What are you waiting for? Fill out an application today at

We provide extraordinary services and products for all people living in the US and those living in Minnesota. We believe that every applicant should be our main priority and to meet that goal we use confidential and security enabled servers to protect all the information you give us. We guarantee that our service is secure and that our application process is easy. We also guarantee that you will see your money as fast as possible. To see what we have to offer and to apply for a Minnesota payday loan, visit our website today at:

When looking at the payday loan laws in Minnesota, you may notice that the laws seem a lot like those in Kansas. The company that approves the loan is guaranteed to get their money back, along with some extra to pay for their services. A Minnesota payday loan of $50 or less will have a fee of $5.50. A ten percent fee is used on any loans of $50 to $100, on top of the original fee. On loans of $100 to $250 the amount is 7 percent plus the original fee. Any loan of at least $250 gets an administration fee of $5 and a six percent rate on the loan.

A maximum limit of 30 days is imposed on all Minnesota payday loans that occur in Kansas and Minnesota as regulated by the laws in those states. Once the term has passed, the interest rates are allowed to increase at a rate of 2.75 percent for each month that passes, granted that the loan is not paid. Kansas allows lenders to charge and additional fee if the borrower does not have the money to pay back the original loan.

The process of loan splitting is illegal in Minnesota. This is where a company split is the loan into two parts and charges interest on both loans.

Under Minnesota state law, a lender must meet certain requirements to give loans and to operate in the state. The loan agreement itself is subjected to the following regulations according to the law of the state. They must include:

  • The Department of Commerce's name, phone number, and address.
  • The provider of the loan's trade name.
  • The date the loan was given.
  • The amount of the loan.
  • The length of the Minnesota payday loan.
  • The day the loan is supposed to be paid back.
  • A clear written description of the obligations the borrower must meet in terms of paying back the loan.

There is something that people should remember when looking at Minnesota payday loans. The check the borrower writes must be less than the amount of the loan and any fees or interest rates charged on the loan.

Unemployment Statistics in Minnesota

Minnesota had an unemployment rate of 5% in January of 2006. Over 146 thousand residents of the state were unemployed and without jobs. Though the number is high, it is actually slightly smaller than it had been the previous year when the unemployment rate was 5.2%. For the last ten years the unemployment rate in Minnesota was between 2.1% and 5.7%, fairly stable.