Find the right lender — and know how much it might cost to borrow.
When you’re searching for a short-term loan in Bismarck, you’ll want to know more than just the address of a nearby lender. Learn how the regulations of North Dakota impact payday lending in your city and what you can do to apply.
Our top pick: Jora Installment Loans
- Quick application process
- Bad credit OK
- Financial resources
Our top pick: Jora Installment Loans
- Min. Loan Amount: $500
- Max. Loan Amount: $2,600
- Turnaround Time: 1 to 2 business days
- Loan Term: Varies
- Requirements: Active checking account, regular source of income, email address
Can I get a payday loan in Bismarck, North Dakota?
Yes, payday loans are available in Bismarck and are regulated under 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. Loan terms may be no more than 60 days, and a lender is permitted to charge a financing up to 20% of the loan amount as well as a database fee. And if you don’t have enough in your account to repay your loan, a lender may charge a $20 non-sufficient funds (NSF) fee.
Short-term lenders available in Bismarck
How do I apply?
Most lenders will have different eligibility criteria you’ll need to meet, but in general, you’ll have to have a steady source of income, be a US citizen or permanent resident and be at least 18 years old. If you meet the basic eligibility criteria set forth by the lender, you can typically complete the application process within a few minutes.
- Compare lenders in the table above to find one that suits your needs.
- Click on the Go to Site button.
- Start filling out the application with your personal information.
- Provide access to your checking account if applying online.
- Submit your application and wait for approval
It may take anywhere from a few minutes to a few days to receive a response from a lender. If you’re approved, read over your loan documents carefully before signing.
Where to find short-term loan locations in Bismarck
Short-term loan locations near me in Bismarck, ND
- 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
Must read: Be cautious of high fees
Although there is a cap on the financing fee a lender is permitted to charge, it won’t save you much. 20% of a loan of $100 is $20 — which means that if you borrow $500 from a lender, you’ll be paying back $600. And while a payday loan can last as long as 60 days, in many cases, a lender will likely set your due date within a couple weeks after you borrow.
This means you may have trouble repaying your loan, especially if you decide to take out more than one at a time. It may be worthwhile to look into some short-term loan alternatives before you commit to a loan.
Bottom line
North Dakota regulates payday loans to keep residents of Bismarck — as well as other cities throughout the state — safe from extremely high APRs. However, you’ll still have to pay up to 20% of your loan amount in the form of financing fees. Still, there are a number of licensed lenders out there that may be able to offer you a competitive rate.
If you’re looking for a lender, it pays to compare all your payday loan options and to familiarize yourself with North Dakota laws before committing to a loan.
