Minnesota Payday Loans

Like many other states, Minnesota recognizes the need for cash advance options. While payday loans are allowed, consumers are protected from shoddy practices and their own lack of knowledge through Minnesota regulations. All payday loan agreements must be thorough in explaining the loan and what it means in real terms. Borrowers are entitled to know the trade name of the payday lender, like a company in Minneapolis, and receive a clear explanation of a borrower's payment responsibilities. All paperwork on payday advances must include the name, telephone number and address of the lender, along with the amount issued, transaction date and term limit of the loan. The act of loan splitting - dividing a loan into small parts and charging interest twice - is prohibited by Minnesota law. Criminal proceedings are not allowed against people that default, but private action is allowed.

Maximum Principal

Borrowers can ask for up to $350 for a cash advance.

Length of Loan

Loan terms are set at 30 days.


No extensions or rollovers of payday loans are allowed.


Minnesota is different from other states because it determines allowable fees based on the amount that is borrowed. Loans that range from $1 to $50 have a maximum fee of $5.50; loans between $51 and $100 have a maximum fee of $5 plus 10 percent; loans between $101 and $250 face a maximum $5 plus 7 percent fee; and loans exceeding $251 are subject to a $5 plus 6 percent fee.


A two-week loan taken out for $100 has an APR of 390 percent.

Cash-N Pawn
3391 Coon Rapids Boulevard Northwest
Minneapolis, MN 55433
Checkcare Systems
4570 West 77th Street Suite 320
Minneapolis, MN 55435
Twin City Co-Ops Federal Credit Union
2025 Larpenteur Avenue West
Saint Paul, MN 55113
Cash N Pawn
1519 University Avenue West
Saint Paul, MN 55104
8650 Lyndale Avenue South
Minneapolis, MN 55420
Cash-N Pawn - Corporate Office
201 57th Avenue Northeast
Minneapolis, MN 55432
Cash-N Pawn - Corporate Office
490 University Avenue West
Saint Paul, MN 55103
Cash Flow Management Inc
1940 Greeley Street South
Stillwater, MN 55082
TCF Bank - Branch Offices, Lakeville
17269 Kenyon Avenue West
Minneapolis, MN 55401
eBizLoan, Inc.
4207 Excelsior Boulevard
Minneapolis, MN 55416

Minnesota Loan Statistics

Pay Schedule
Average Loan Average Age Weekly Bi-Weekly Monthly Twice Per Month Home Owner Renter