✓ Legal & RegulatedReviewed: Aug 2025
MinnesotaLoan Laws & Regulations
Official regulatory reference for borrowers and lenders in Minnesota. Includes permitted loan types, APR caps, lender licensing requirements, borrower rights, and government source links.
Max Loan
$350
Typical APR
200% APR
Max Term
30 days
Legal Status
Legal
Minnesota Lending Regulator
The Minnesota Dept of Commerce oversees consumer lending in Minnesota, including licensing, enforcement, and consumer complaint resolution. Before borrowing from any lender, verify their license using the official regulator lookup tool linked above.
Regulatory Details
Detailed regulatory data for Minnesota is sourced directly from the Minnesota Dept of Commerce. For the most current requirements, visit: https://mn.gov/commerce/
Current Overview
Minnesota payday loans up to $350 for Minneapolis-St. Paul and statewide residents. Regulated lending with fast same-day approval.
Legal Status: Legal · APR Range: 200% APR · Max Amount: $350
Minnesota Lending FAQ
Are payday loans legal in Minnesota?▼
Yes. Payday loans are legal and regulated in Minnesota under the oversight of the Minnesota Dept of Commerce. Current APR range: 200% APR. Maximum loan: $350.
What is the maximum payday loan I can get in Minnesota?▼
The maximum short-term loan amount in Minnesota is $350. A $350 loan for 14 days in MN costs approximately $27 in fees. APR: 200%.
Who regulates payday lenders in Minnesota?▼
The Minnesota Dept of Commerce is the primary state regulator. You can verify any lender's license at https://mn.gov/commerce/. Unlicensed lenders operating in Minnesota are illegal — always verify before borrowing.
What are the alternatives to payday loans in Minnesota?▼
Consider credit union PAL (Payday Alternative Loan) programs, licensed personal loan lenders, or non-profit credit counseling services in Minnesota.