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Current Payday Lenders in Minnesota – Terms, Rates, Legislation

Payday loans can be a fast and easy way to get money in an emergency, but you need to known the laws surrounding this industry. Here’s what you need to know before applying.

The list of payday loan lenders in Minnesota

ACE Cash Express

Since 1968, ACE Cash Express has been a reliable financial services provider, offering small-dollar loans, check cashing, prepaid debit cards, and other financial products.

  • Phone: 1-866-223-2274
  • Address: 300 E John Carpenter Fwy Ste 900, Irving, Texas, 75062, United States
  • Website:

Cash Central

Cash Central is a direct online lender that offers a fast application and same-day funding process. The company offers online payday and short-term installment loans in most of the states of USA, including Minnesota. Cash Central offers payday loans up to $800 and installment loans up to $5,000.

  • Address: 2601 North Lamar Boulevard, Austin, Texas 78705-4207
  • Phone: 1-800-460-4305
  • Website:

Open Cash Advance

With Open Cash Advance, you can apply for a payday loan up to $500. They also offer installment loans up to $5,000. The lender makes the entire lending process quick, simple, and secure. You can expect to get a loan in as little as one working day. Even those with bad credit may get approved for a payday loan with this lender.

  • Address: 30 N GOULD ST, STE R, Sheridan, WY 82801
  • Website:


Maybeloan is an online loan connection platform. You can apply for small-dollar payday loans, installment loans, cash advance loans, personal loans and home loans. You can borrow funds regardless of your credit score.

  • Address: 901 Travis St, Houston, TX, USA
  • Website:
  • Email:

Payday America

Payday America has been providing people with short-term loan for over 10 years. The company currently operates 15 stores throughout Minnesota. Their stores offer payday loans with no credit check, fast payday loans, and more.

  • Phone: 952-277-4135
  • Address: 1682 Robert Street S Suite 2, West St Paul, MN 55118
  • Website:

MyFastCash is an online platform that works by connecting potential borrowers to direct and trusted lenders across the United States. The company works with multiple lenders to make up a network that can help you find the best loan for your unique needs.

  • Website


CashAdvance is an online platform that helpss you to get a payday loan online. All you need to do is to fill out a short online form. Then the system will refer you to the right lender from their extensive network of legit lenders in your state. has been in the lending business since 1997. You can borrow anywhere from $100 to $1,000.

  • Address 278 East 1875 South Roosevelt, UT 84066
  • Website
  • Phone number (800) 380-2274
  • Email


CashNetUSA is one of US most popular online lenders and a reliable option for consumers looking for speedy loans to cover emergency expenses. Since 2004, the company has served over 3 million customers. Their loan types and terms range depending on the state.

  • Address PO Box 206739. Dallas, TX 75320-6739
  • Website
  • Phone number 1-888-801-9075
  • Email


MoneyMutual is a loan connection service that offers Americans simple, quick and secure access to legit lenders. You just need to fill out a simple application form, which takes about five minutes. The approval is typically instant, but the funds are often transferred within 24 business hours.

  • Address 2510 E. Sunset Rd., Ste 6, #85, Las Vegas, NV 89120
  • Website
  • Phone number (844)-276-2063
  • Email

Snappy Payday Loans

Snappy Payday Loans is an online matching platform that connects potential borrowers to well-known and reliable payday lenders, allowing them access short-term loans they need.

  • Address: 398 Dania Beach Blvd #468 Dania Beach, FL 33004
  • Phone: (844) 390-0450
  • Email:
  • Website:

Instant Loans USA

Instant Loans USA is another popular loan referral service that matches users with the right lender. They cooperate with over 300 direct lenders that are ready to lend you up to $35,000 within 24 hours without any waiting, paperwork, faxing, collateral, guarantor, etc. Their customers get the cash they need today without any damage to their credit scores!

  • Address 1125 E Broadway, #545 Glendale, CA 91205
  • Website
  • Phone number (888) 775-0859

Are payday loan legal in Minnesota?

Yes. Payday loans in Minnesota are legal and governed by Minnesota Statutes 47.60 et seq., which requires all payday loan providers to be registered and comply with the payday lending laws described below.

Minnesota payday loan legislation was introduced in 1995. Those laws have not changed significantly, since that time.

In the state, payday loans are officially known as “consumer small loans” and “consumer short-term loans”. Actually, these are two different loan types that are governed by different laws.

  • Minnesota Statutes Section 47.60 (as of 1995) governs consumer small loans not exceeding $350.
  • Minnesota Statutes Section 47.601 (as of 2009) governs consumer short-term loans up to $1,000.

All lenders operating in MT should obtain a license from the Minnesota Commerce Department to issue loans. There are three different types of licenses issued by this Department:

  • consumer small loan loans,
  • industrial loan and thrift,
  • and regulated lenders.

Payday loans are offered under the first two licenses. Nowadays, there are over 100 licensed lenders in Minnesota. 32 licensed lenders offer consumer small loan up to $350.

Besides, lenders issuing payday loans in MT do not need to have a physical location in the state, yet, they must have a license.

Minnesota payday loan regulations

Legal Status Legal
Interest Rate (APR) 200%
Minimum Loan Amount Not determined
Maximum Loan Amoun $350
Minimum Loan Term Not determined
Maximum Loan Term 30 days
Rollovers Not allowed
Finance Charges less than $50 = $5.5;
$50 – $100 = 10% + $5;
$100 – $250 = 7% (min $10) + $5;
$250 – $350 =6% (min $17.5) + $5
Statute of Limitations 6 years
Database Loan Tracking No

Rates and fees

The amount your lender will charge you in interest varies based on the amount you borrow.

  • $50 or less: $5.50
  • $50.01 to $100: 10% plus $5 administrative fee
  • $100.01 to $250: 7% (minimum of $10) plus $5 administrative fee
  • $250.01 to $350: 6% (minimum of $17.50) plus $5 administrative fee
  • Default: 2.75% per month on the remaining loan amount

Keep in mind that real APR for payday loans in Minnesota can be as high as 200%.

Loan amount in Minnesota

  • Lenders in MT cannot issue payday loans over $350.
  • Borrowers may take out as many loans as they want at a time, with no limitations.

The maximum term for a payday loan in Minnesota

  • Payday loans in MT can be issued for a period of not exceeding 30 days.
  • Rollovers or extensions are not allowed in the state.
  • Borrowers are not allowed to take out a loan from another lender in order to pay off the previous debt.

How to qualify for a payday loan

Every state has individual laws and regulations regarding the payday lending industry. Before you apply, you must get acquainted with these laws.

Common eligibility criteria you must meet include:

  1. You must be at least 18 years.
  2. You must be a permanent resident of Minnesota.
  3. You should have a personal, active, and valid email and phone number.
  4. You must not be bankrupt.
  5. You should earn at least $1,000 monthly.

If you meet all these requirements, you may feel free to apply for a payday loan.

Consumer information

  • A lender can charge only one NSF fee per loan.
  • Any criminal actions against borrowers are not allowed.
  • Today, lenders are not required to check a person’s ability to afford a loan. Be careful, analyze your current financial situation, and make sure you can repay your loan on time. Otherwise, it is easy to get into a debt trap.

Where can I get a payday loan in Minnesota?

Payday loans are available all across the state of Minnesota, including the following cities:

  • Alexandria
  • Anoka
  • Bemidji
  • Blue Earth
  • Brainerd
  • Burnsville
  • Cambridge
  • Cass Lake
  • Champlin
  • Chanhassen
  • Cloquet
  • Columbia Hts
  • Cottage Grove
  • Detroit Lakes
  • Dilworth
  • Dodge Center
  • Duluth
  • Eden Prairie
  • Elk River
  • Excelsior
  • Forest Lake
  • Glyndon
  • Grand Rapids
  • Hastings
  • Hibbing
  • Hopkins
  • Inver Grove
  • Lakeville
  • Little Falls
  • Madison Lake
  • Mankato
  • Maple Plain
  • Marshall
  • Minneapolis
  • Minnetonka
  • Monticello
  • Moorhead
  • New Hope
  • Newport
  • Northfield
  • Onamia
  • Osseo
  • Park Rapids
  • Prior Lake
  • Redwood Falls
  • Rochester
  • Rockford
  • Roseau
  • Rosemount
  • Saint Cloud
  • Saint James
  • Saint Paul
  • Savage
  • Shakopee
  • Stillwater
  • Tower
  • Virginia
  • Waite Park
  • Warroad
  • West Saint Paul
  • Willmar


Minnesota Department of Commerce

Address: 85 7th Pl E #280, Golden Rule Building, St Paul, MN 55101
Phone: 651-539-1600 or 800-657-3602 (toll free)
Fax: 651-539-0105