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Payday Loans in South Dakota

Dave Ramsey believes that behavior in personal finance is what leads us to become wealthy. At first glance, it sounds quite good as you are the CEO of your finance. However, at the same time, you realize that financial difficulties are kind of inevitable things steamed almost from everything. Fortunately, these days getting extra cash on the side is much easier and quicker than you can imagine. You may browse keywords like payday loans in South Dakota or cash loans near me to discover one of the best options to obtain fast cash. 

Payday Loans in South Dakota Explained

Payday loans are a type of short-term lending payable when the borrower's next paycheck arrives. A borrower is required to submit a post-dated check for the principal amount plus all applicable charges. The lender agrees to cash the check until you get your next paycheck, usually within two to four weeks. 

Payday Loan Requirements 

When you are cash-strapped, payday loans in South Dakota may be your option to ease financial stress and help you make it until your next paycheck. However, before you fill out your credit request, check the eligibility requirements to make sure you comply with them. The Consumer Financial Protection Bureau (CFPB) states that most payday lenders require applicants to meet the following criteria to qualify for a loan. You must: 

  1. be at least 18 years old
  2. be a permanent resident or citizen of the U.S.
  3. have a regular income source 
  4. have an active bank account (either checking or savings)  

Is a Payday Loan Right for You? 

Many people consider payday loans an expensive method of borrowing extra cash that can inflict more harm than benefit. However, cash loans are a quick-fix solution for those in financial crisis looking for extra money to stretch their budget until the next payday. Instead, considering other choices such as credit cards or pawn shops, it's always worth examining payday loans online in South Dakota. 

Bad Credit Payday Loans

Bad credit loans are intended for those with less-than-perfect credit history. These loans usually have higher interest rates and stricter requirements, which helps lenders lower the risk of borrowers' nonpayment. Despite a bad rep of money-draining traps, payday loans for bad credit may still be available to take out, even if you have a bad or no credit score to meet your urgent cash needs. Remember that improving your credit score is always possible if you take steps to guarantee your financial responsibilities in the future.  

Advantages of Bad Credit Loans 

  1. Bad credit payday loans are generally available online. The money may be in your bank account in as little as 15 minutes and help your make both ends meet quickly and securely. 
  2. Bad credit loans may help you improve your credit over time, demonstrating that you are a responsible borrower. 
  3. Although there is no such thing as guaranteed approval, if you have a bad or no credit history, you may have better chances of getting a bad credit cash loan than its traditional alternative. 


As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.

Regulations of Payday Loans in South Dakota
Status     Legal
Annual Percentage Rate (APR)     36%
Minimum Loan Amount     N/A
Maximum Loan Amount     $500
Minimum Loan Term     N/A
Maximum Loan Term     N/A
Number of Rollovers Allowed     4
Finance Charges     $1.39 for a $100 loan given for 2 weeks
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

According to the Initiated Measure 21 enacted on Nov. 16, 2016, and S.D. Codified Laws 54-4-36 et seq., payday lenders can operate in the state, however, they have to abide by the state restrictions.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
Check the list of current licensees (payday lenders are among them).

[ Updated on 14-Oct-2021, 23:10 ]

We've been in the industry for more than six years.