The Best Payday Loans in Amboy, MN
Our research team has identified the top 3 payday loan lenders in Amboybased on experience, customer reviews, approval rates, and transparent lending practices.
Top Payday Loan Lenders in Amboy
Carefully selected based on experience, customer satisfaction, and transparent lending practices
Advance America
Advance America
Advance America is one of the nation's largest and most established payday lending companies with a strong presence in southern Minnesota. Their Mankato location serves Amboy residents with reliable short-term loan options, transparent terms, and multiple in-person service options. They offer both storefront and online application processes with decades of experience serving Minnesota communities.
Loan Types:
Check Into Cash
Check Into Cash
Check Into Cash operates a convenient Mankato location that serves the Amboy area with various short-term lending solutions. With nearly 30 years in business, they provide competitive rates, flexible repayment options, and both in-store and online application processes. Their established reputation and multiple loan products make them a reliable choice for Blue Earth County residents.
Loan Types:
Minnesota Money Center
Minnesota Money Center
Minnesota Money Center serves southern Minnesota communities including Amboy from their New Ulm location. As a regional specialist, they understand local financial needs and offer personalized service with transparent lending practices. They provide same-day funding options, multiple financial services, and have built a strong reputation for customer service in the region over the past decade.
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Frequently Asked Questions
Common questions about payday loans in Amboy, Minnesota
What are the eligibility requirements for a payday loan in Amboy, MN?
To qualify for a payday loan in Amboy, you must be at least 18 years old, have a valid Minnesota driver's license or state ID, provide proof of steady income (typically $800-$1,000 monthly minimum), have an active checking account, and show proof of residency in Blue Earth County. Most Amboy lenders require your most recent pay stub and a voided check from your checking account. Unlike some states, Minnesota lenders cannot require a post-dated check as collateral.
What are the maximum fees and interest rates for payday loans in Amboy?
Minnesota state law strictly regulates payday loan costs in Amboy. Lenders can charge a maximum fee of $10.50 per $100 borrowed up to $350, and $8 per $100 for amounts over $350. The maximum loan amount is $350, and the annual percentage rate (APR) typically ranges from 200% to 300%. These rates are significantly lower than in many other states due to Minnesota's consumer protection laws.
How long do I have to repay a payday loan in Amboy, and what happens if I can't pay on time?
Minnesota law requires a minimum repayment period of 30 days for payday loans in Amboy. If you cannot repay on time, you may request an extended payment plan at no additional cost - lenders are legally required to offer this option. However, rolling over loans is prohibited in Minnesota, so you cannot simply extend the same loan with additional fees. Late payments may result in collection activities and damage to your credit score.
Are there any local alternatives to payday loans for Amboy residents?
Yes, Amboy residents have several alternatives to consider before taking a payday loan. Local options include credit counseling through Minnesota non-profits, emergency assistance programs through Blue Earth County Social Services, and small loan programs through local credit unions like United Prairie Bank. Many Amboy churches and community organizations also offer emergency financial assistance for qualifying residents facing temporary hardships.
What documentation do I need to apply for a payday loan in Amboy?
When applying for a payday loan in Amboy, you'll typically need your Minnesota driver's license or state ID, your most recent pay stub or other proof of income (such as Social Security or disability statements), your bank account and routing numbers, and a recent utility bill to verify your Amboy address. Some lenders may also require your Social Security number for identity verification purposes, though credit checks are typically minimal for payday loans in Minnesota.
Nearby Cities
Looking for payday loan lenders in nearby areas? Check out these cities near Amboy:
How We Rate Amboy Lenders
Our comprehensive 5-star rating system evaluates lenders across multiple criteria to help you find the best payday loan provider in Amboy.
Experience & Reliability
Years in business, approval rates, and specialization in short-term lending.
Customer Reviews & Satisfaction
Verified customer feedback, testimonials, and overall satisfaction ratings.
Terms & Transparency
Clear terms, competitive rates, and transparent lending practices.
Need a Payday Loan in Amboy?
Contact one of our top-rated lenders today for quick approval and competitive rates on your short-term loan needs.