If you’re looking for a short-term loan in Bismark, our guide will help.
No matter what you have to use the money for, a short-term loan can be the solution you need if you don’t qualify for other forms of credit. The process is usually quick, but you’ll want to know the laws of North Dakota before you apply to avoid disreputable lenders and illegal loan terms.
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
- Minimum loan amount: $500
- Maximum loan amount: $5,000
- Turnaround time: 1 business day
- Loan term: 9 to 36 months
- Must have direct deposit and meet minimum income requirements
What are the short-term loan laws in Bismarck, ND?
Short-term lenders that provide payday loans to residents of Bismarck have to abide by the rules and regulations in the North Dakota Century Code 13-08-01 et. seq. The same laws apply to both storefront and online lenders.
You can borrow up to $500 provided your loan term is 60 days or less. When you repay, you’ll have to pay back your principal amount along with a 20% financing fee and a databasing fee.
Here are some lends you can check out when looking for a short-term loan
Here are some short-term loan features
- Bad credit is OK. When you apply for a short-term loan, you won’t have to worry about your credit history. Lenders will consider you even if you have bad credit, and most make their decision based off your current financial situation, not your past debts.
- More choices online. If you search for a payday loan online, you’ll have more lenders to choose from. If you’re not sure where to start, try a service that connects you with lenders.
- Quick process. Payday lenders that operate out of storefronts can give you access to approved funds almost immediately. With online applications, most lenders can transfer funds in your bank account as soon as the next business day.
Costly car repairsMartin had already spent his paycheck on his bills when his car broke down. Since he wouldn’t be getting paid again for another two weeks and he needed his car to get to work, Martin knew he would need to borrow some money. His credit isn’t the best, so he settled on an online short-term lender that could deposit the loan amount directly into his account.
He borrowed the $400 he needed for the repairs with a two-week term. The lender charged him 20% as a financing fee and an additional databasing fee of $15, bringing the total he needed to repay up to $495.
Martin was able to get his car repaired and make it to work, and on his next paycheck, he had just enough to avoid rolling over his loan and getting charged an additional 20% fee.
Here’s how you can apply for a short-term loan
If you meet the basic eligibility criteria set forth by the lender, you can complete the application process within a few minutes.
- Compare lenders in the table above to find one that suits you
- Click on the Go to Site button
- Start filling out the application with your personal information
- Online applicants will need to provide access to their checking account
- Submit your application and wait for approval
Short-term loans near you in Bismarck, ND
Where you can find a lender in Bismarck
- Americash. 208 W Front Ave, Bismarck, ND 58504
- Direct Check. 702 5th Ave SE #2, Devils Lake, ND 58301
- Money Lenders. 913 Burlington Dr #4, Bismarck, ND 58504
Why are there so few stores in Bismarck?With the rise of the internet and online lenders, there’s less need for physical storefronts. Although you can get your money on the same day when you visit a store, the easier process of applying online and having the loan transferred directly into your account means that there aren’t as many stores being run.
In addition, shopping online makes it easier to compare lenders and find one that gives you the best loan offer.