Best Online Payday Loans In Minnesota

Finding reputable online payday loans in Minnesota can be challenging, as payday loans are subject to various scams.

It is important to find licensed lenders in Minnesota, as every state is different with limits. In some states, payday loans are illegal. However, in Minnesota, payday loans are legal, so you can get the cash you need in a hurry. The funds are subject to state laws and regulations, though.

If you’re in a tough situation and need emergency funding, it’s possible to get online personal loans in Minnesota, including payday loans. While short-term financing is convenient, as some companies can give you money the same day or the next day, they are risky.

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The 5 Best Online Payday Loans in Minnesota

High APRs and fees plague payday loans and other loans, making them unattractive for many. However, emergencies require immediate funding, and payday loans may be a last resort.

That’s why we’ve created this guide to help you find online payday loans in Minnesota with reviews to help you make your decision.


Payday America Loans Minnesota

Payday America is a local payday service in Minnesota with online and in-store services. What stands out about this company is its loyalty to Minnesota residents and involvement in the community. For instance, they launched Kids Feeding Kids in 2006 and dedicated themselves to helping law enforcement locally.

You can apply on their website for an online payday loan up to $350. They are a direct lender in Minnesota, with in-person 12 locations.

When applying, you will need a valid Minnesota ID, 1099 or SSN, two consecutive pay stubs, and 30-day banking history. They will provide you with an account or use an active checking account for loans. A prepaid debit card is given to those who do not have a bank account.

Oddly enough, you will need two personal references. It is unclear why references are necessary, which other companies do not ask. However, they offer same-day approval.

They do not provide a list of APRs or fees, stating that they are subject to change and depend on the loan and pay period.

The reviews for Payday America are glowing from locals, both in-store and online. Because the store caters to Minnesota residents only, they provide stellar customer service with the option of visiting in-store for additional assistance.

On the NLMS, which verifies financial service providers, Payday America shows an active license in Minnesota, proving the company is legitimate.

Overall, Payday America looks like a solid option for an online payday loan in Minnesota despite additional requirements and unclear rates. However, it may be a trustworthy source to obtain a payday loan. It is a direct lender and caters to Minnesota residents, providing one-on-one assistance that may not be available with other companies.


Cash Central Minnesota Personal Loans

Cash Central is an online financial services company connected to Community Choice Financial, founded in 2011. They currently offer online installment loans in Minnesota, including payday loans.

You can receive an online payday loan in Minnesota of up to $350. They are transparent on their website, allowing users to view scenarios involving loan amount, duration, fees, and APR.

For instance, if you wanted to take out a $350 loan with a 30-day term may have an APR of 90.38% with a $26 fee. Changing the period from 30-days to 10-days increases the APR to 271.14%, with 5-days having a high 542.29% APR. They also allow you to choose between 4 to 30 days—much more than other companies.

Cash Central’s transparency allows you to plan your finances accordingly and if you can pay back the loan on time in total. They state their calculator shows the most likely scenarios, and figures are subject to change based on your qualifications.

Applying online is simple, and they state you can receive a deposit the next business day. You can also track your loan online through their customer portal to keep up with payments. 

The reviews for Cash Central are mixed, with most complaints regarding customer service. The company is based solely online, which can make it difficult to reach out to someone. Positives involved users stating they received their loan quickly, but when it was time to pay and customers had questions, issues began to arise.

Ultimately, Cash Central may be a decent option if you want to plan out a financial schedule, as they have their rates and fees upfront.

3. CashNetUSA

Minnesota Cashnet USA PayDay Loans

CashNetUSA is an online lender founded in 2004 that offers online installment loans in Minnesota, including payday loans and line of credit products.

The company is part of Enova International that trades on the New York Stock Exchange, which is part of other financial services such as NetCredit, Headway Capital, and others.

You can apply for an online payday loan up to $350. CashNetUSA is transparent with its fee schedule and APR. For instance, they reveal they charge a $5 administrative fee, including:

  • Additional 6% if loan is greater than $250
  • Additional 7% if loan greater than $100 up to $250
  • Additional 10% for loan amounts equal to $100

They also offer loan terms between 8 to 30 days.

CashNetUSA provides scenarios to help those plan ahead, which is not something many companies offer. For example, a loan amount of $250 is subject to 109.50% APR for 30 days, but it increases to 328.50% for ten days. Exploring with the calculator also reveals that the lower the principal amount, the higher the APR.

Their application process is simple, with few qualifications, such as:

  • 18 or older
  • Verifiable source of income
  • Active checking account
  • U.S. citizen or permanent resident

After you fill out their application, you will receive a lending decision. If approved, you can receive funds the next business day. Then, you repay on your given date.

CashNetUSA provides their business license for Minnesota, stating they are licensed and legitimate. They receive high ratings and praise on Consumer Affairs, with customers satisfied with their service.

In case of an emergency, a payday loan from CashNetUSA may be a solid option, as they provide their APRs and fee schedule. However, like most payday loans, they are high risk and entice you to take the highest amount offered.


Minnesota Ace Cash Express Payday Loans

Ace Cash Express, also known as Ace Cash Express Inc., is a financial services provider that offers online short-term loans in Minnesota and other states. The company has been in business since 1968 with over 950 locations. They have several stores in Minnesota in the following cities:

  • Bloomington
  • Minneapolis
  • St. Paul
  • Richfield
  • Columbia Heights
  • St. Louis Park
  • New Hope
  • Brooklyn Center

Ace Cash Express has several options both in-store and online. For their in-store services, they provide:

  • ACE Flare Account
  • Payday Loans
  • ACE Elite Visa Prepaid Debit Card
  • Tax Services
  • Bill Payments
  • Money Orders
  • Business Services
  • Money Transfers
  • Check Cashing
  • ATM

Their online services are more compact, providing payday loans, prepaid debit cards, and ACE Flare accounts.

Ace Cash Express provides online payday loans up to $500. Applying online is simple by filling out an application. You must have the typical qualifications, such as a valid I.D., proof of income, and an active checking account. However, You must not be an active member of the military or be on the verge of bankruptcy.

An interesting aspect about Ace Cash Express is that they give you 72 hours to accept or decline the loan. A chance to decline the offer can help you find alternatives or avoid going into further debt.

Unfortunately, the APRs and fees from Ace Cash Express are some of the highest in the industry. Because of this risk, Ace Cash Express should be the last option if you need an emergency loan.  

There are mixed reviews online with Ace Cash Express, depending on location, in-store experience, and online. In Minnesota, various physical locations have 4.2 stars or more, citing their customer service in-store may be helpful.

Overall, payday loans from Ace Cash Express should be considered if there are no other options available.


MoneyMutual Minnesota Personal Payday Loans

Money Mutual is an online service based in Las Vegas, Nevada, that connects borrowers and lenders. Because it is essentially a marketplace, the rates and fees are unknown until you connect with a potential lender.

Other services provided by Money Mutual are installment loans, cash advance, and personal loans. You can get an online payday loan up to $350.

You apply online for the amount you want, fill out an application, and you will be connected with potential lenders. From there, you may receive the money in 24 hours or more. There is no guarantee that the lender you connect with will fit your budget, as different lenders provide different rates and fees.

The qualifications are more strict than other companies, as they require you to have an income of $800 monthly.

Since 2014, Money Mutual has been the subject of controversy, including in Minnesota. One resident filed a complaint stating the company participates in shady practices, with advertising that entices Minnesotans to continue payday loans, which may be considered predatory. The company remains a source for those looking for loans through a marketplace when there is no other option.

The reviews for Money Mutual are also mixed despite an A+ rating on BBB. 

Other companies are more upfront with their fee schedule, payment timelines, and APR that keeps people flexible with their finances. However, this is not viable on Money Mutual, and you may end up paying more than other competitors.

In all, Money Mutual is an option for those who are not on a tight budget and not pressed for time due to the unknown variables. This company is also more suitable for online installment loans in Minnesota than payday loans as payday loans have more restrictions.

Frequently Asked Questions

Here are the answers to some of the most common questions.

Yes, Minnesota is a state that currently allows online personal loans with certain restrictions. All companies must be regulated by Minnesota law and follow their financial laws.  

What Is the Maximum Payday Loan I Can Receive in Minnesota?

By Minnesota law, the maximum loan amount lenders can offer you is $350. The Attorney General of Minnesota states that if a lender offers you more than $350, you should decline because the online lender may be breaking the law.  

What Is the Maximum Loan Term for a Payday Loan in Minnesota?

The maximum loan term on payday loans in Minnesota is 30 days. You can pay your loan before your payment schedule with no penalty. Most lenders allow you to handle your entire transaction online, including the repayment.

Why Are Payday Loans Risky?

Payday loans can be risky because of their high APR and fees. The APR may be 10 to 20 times higher than a credit card or a bank loan. Also, you must pay them on time or be subject to penalties and more fees. If you want to obtain a payday loan because of an emergency, you must ensure you can pay the loan on time. If you can’t, it could ruin your credit and your financial future.

What Are the Advantages to a Payday Loan?

There are advantages to a payday loan, such as instant cash to pay your rent, bills, and emergencies. Also, there are fewer requirements than bank loans, and they do not check your credit. They are easier to access without hurdles, either online or in-store. Payday loans are unsecured loans, meaning there will be no collateral damage or seizing your property for delinquency.

What Are the Disadvantages of a Payday Loan?

Payday loan disadvantages are the high APR and fees, as you will pay more than your principal. In some states, payday loans are banned to prevent people from entering a debt cycle. Since the Great Recession, payday loans have been seen as predatory, subjecting them to state lawsuits.

What Is the Difference Between a Marketplace and Direct Lender?

A marketplace or online resource connects you with lenders. A direct lender is a source that will give you a loan. Direct lenders tend to be easier to work with, as there is no 3rd party. Online marketplaces can provide you more options, finding the right lender for you.

How Do I Know a Lender Is Legitimate in Minnesota?

There are several ways to determine the legitimacy of a lender, such as looking them up on NLMS for an active license. Some companies upload a PDF of their certificate to show they are a real business.

Are There Limits to Fees for Payday Loans in Minnesota?

Yes, besides a maximum amount of $350, there are caps on the fees, such as:

  • $5.5 fee on $50 or less
  • 10% + $5 on $50.1 – $100
  • 7% (min. $10) + $5 fee on $100.01 – $250
  • 6% (min. $17.50) + $5 fee on $250.01 – $350


Online payday loans in Minnesota are subject to strict regulation since the state worries their residents will fall into internet scams. Luckily, some companies present themselves as viable options for those who need emergency funding.

Payday loans and other online installment loans in Minnesota are also subject to high APRs and fees, making it tough to pay, especially on a tight budget. That’s why it’s important to know the APR rates and fees up front, which some businesses provide.

Companies with in-person services and assistance are also great options, even though the application and approval are all online. Having extra help in a time of need can improve your experience, as it may be unnerving to receive high-risk payday loans.

Overall, emergency funding cannot wait, and payday options are a last resort. Choose the company right for you based on speed, customer service, and any other factors that may impact your decision.

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