North Dakota Cash Loan

Because of the current economic climate, people in North Dakota are finding it increasingly hard to live according to the cash flow of their regular paychecks. Shock expenses can suddenly appear at the most inconvenient of times, requiring ready cash to meet them. At times like these, North Dakotans can often find themselves drawn to the services of small cash loan companies to assist them before they next get paid.

A cash loan is a usually low-value (under $1,000 generally), one-off payment, short-term (to be paid off within a month) loan that is due in one payment. A personal check post dated to the date the loan must be repaid is usually the guarantee that companies require. This repayment includes the amount of the loan itself plus any added fees for the lender's services.

Imagine that the drainpipe on your house has been damaged by high winds and it needs to be fixed quickly, lest filthy water starts to run into your home. You don't have the cash right now to get it repaired, although you will have it in a week on Friday. As a resident of North Dakota, it's very easy to find a company that will grant you a short-term cash loan to cover the costs. You won't be subjected to any bureaucratic examination, and credit check is not required. Most companies only need evidence of your steady job and regular salary payments. Some lenders require your employer to deposit your paycheck into your checking account when the time comes round.

For the safety and security of its people, North Dakota has several laws designed to protect and serve those involved with cash loan transactions. There is a 60-day maximum payback term for all such loans; fees must not exceed 20% of the total amount of the loan (i.e., $20 per $100 borrowed), and this cannot be regarded as interest. One instance of paying back one loan with another is allowed (called rollover in the industry), and only one fee can be charged for a returned or bad check, no more than $20. This information must be provided to borrowers before they enter into a loan agreement.

North Dakota Cash Loan Cities
Devils LakeGrand ForksMinotWest Fargo
FargoJamestownValley City