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Minnesota Payday Loan

A payday loan is a short-term loan, usually used to take care of emergency expenses. It is generally repaid on or around the date of the borrower's next paycheck.

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Rates & Terms

Loan Amount

Up to $350

Loan Term

8 – 30 days

Fees

$5 administrative fee per loan, plus:

  • 10% of the loan for loan amounts equal to $100
  • 7% of the loan for loan amounts greater than $100, up to $250
  • 6% of the loan for loan amounts greater than $250

Actual loan terms may vary based on applicant's qualifications. Your loan will be due on your next payday that falls between 8 to 30 days away. If your pay dates fall outside of this range, your loan will be due in 14 days. If you are paid by paper check, we will give you a grace period of one day to deposit your check.

How It Works

  1. Apply online in minutes.

  2. Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documents like paystubs or other proof of income.

  3. Apply early and receive funds as soon as the same business day, if approved.

  4. Repay on your scheduled due date. You are free to repay early at any time with no penalty.

Fee Schedule and Annual Percentage Rate

Your loan fees will be a flat, non-refundable fee of $5.00 per loan, plus 10% of the loan for loan amounts equal to $100, 7% of the loan for loan amounts greater than $100, up to $250, and 6% of the loan for loan amounts greater than $250. This translates to different annual percentage rates depending on your loan term. You can use the table below to see the cost and annual percentage rate of different amounts repaid over different periods.

CashNetUSA will charge a non-sufficient funds fee (NSF) of $30 one time per loan if you do not have enough funds in your account at the time your loan payment is due.

CONSUMER NOTICE REQUIRED BY THE STATE OF MINNESOTA

These loan charges are higher than otherwise permitted under Minnesota law. Minnesota law permits these higher charges only because short-term small loans might otherwise not be available to consumers. If you have another source of a loan, you may be able to benefit from a lower interest rate and other loan charges.

Repayment Period:

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $10.00 Percentage Fee

Finance Charge = $15.00

APR = 182.50%

$5.00 Administrative Fee + $10.00 Percentage Fee

Finance Charge = $15.00

APR = 391.07%

$5.00 Administrative Fee + $10.00 Percentage Fee

Finance Charge = $15.00

APR = 547.50%

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $10.50 Percentage Fee

Finance Charge = $15.50

APR = 125.72%

$5.00 Administrative Fee + $10.50 Percentage Fee

Finance Charge = $15.50

APR = 269.40%

$5.00 Administrative Fee + $10.50 Percentage Fee

Finance Charge = $15.50

APR = 377.17%

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $14.00 Percentage Fee

Finance Charge = $19.00

APR = 115.58%

$5.00 Administrative Fee + $14.00 Percentage Fee

Finance Charge = $19.00

APR = 247.68%

$5.00 Administrative Fee + $14.00 Percentage Fee

Finance Charge = $19.00

APR = 346.75%

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $17.50 Percentage Fee

Finance Charge = $22.50

APR = 109.50%

$5.00 Administrative Fee + $17.50 Percentage Fee

Finance Charge = $22.50

APR = 234.64%

$5.00 Administrative Fee + $17.50 Percentage Fee

Finance Charge = $22.50

APR = 328.50%

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $18.00 Percentage Fee

Finance Charge = $23.00

APR = 93.28%

$5.00 Administrative Fee + $18.00 Percentage Fee

Finance Charge = $23.00

APR = 199.88%

$5.00 Administrative Fee + $18.00 Percentage Fee

Finance Charge = $23.00

APR = 279.83%

30 Days

14 Days

10 Days

$5.00 Administrative Fee + $21.00 Percentage Fee

Finance Charge = $26.00

APR = 90.38%

$5.00 Administrative Fee + $21.00 Percentage Fee

Finance Charge = $26.00

APR = 193.67%

$5.00 Administrative Fee + $21.00 Percentage Fee

Finance Charge = $26.00

APR = 271.14%

Requirements to Apply for a CashNetUSA Loan

In order to be eligible for any CashNetUSA loan, you must meet our requirements:

18 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Governing Law

The loan agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

Terms Explained

Amount Financed

This is the loan amount.

Example: Jane Smith is approved for a $200 loan. This $200 is the amount financed.

Due Date

Your due date is the date on which you must repay your loan. You may repay early with no penalty.

Example: Based on her pay schedule, Jane's loan will be due when she gets her next paycheck in 15 days.

Loan Fees/Finance Charge

These terms refer to the dollar amount your loan will cost you, in addition to the amount financed.

Example: Because she borrowed $200, Jane's loan fee/finance charge will be $19.

Total of Payments

This is the sum of the amount financed and the finance charge. It is the total amount you must repay.

Example: Adding together her amount financed and finance charge, Jane’s total of payments comes to $219.

APR

APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate.