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Compare your short-term loan options in Pierre, South Dakota

You won't find many, thanks to the state's strict interest rate cap.


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Editor's choice: OppLoans Installment Loans

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  • Easy online application
  • Quick approval
  • Long repayment terms
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Online lenders and storefronts advertise payday loans as a quick option when you need cash and don’t have the best credit. But with South Dakota’s relatively low APR cap, many short-term lenders shy away from lending in the state.

How does South Dakota law affect payday loans in Pierre, SD?

Short-term lenders in Pierre are governed by South Dakota Codified Laws 54-4-36 et seq. Out-of-state lenders that provide online loans to residents of Pierre also have to adhere to the same set of laws. This means no matter which lender you choose, you won’t be able to borrow more than $500 at an APR of 36% or less.

Loan terms aren’t specified by state law, so you’ll have to read your contract and discuss it with your lender to learn when your loan will need to be repaid.

Must read: Why are there so few short-term lenders in South Dakota?

Payday lenders are known for charging interest rates well into the hundreds of percents. Because South Dakota prevents lenders from doing this, many choose not to conduct business in the state. You should consider other options if you aren’t able to find a lender that meets your needs.

Compare short-term loans available in Pierre, SD

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
CreditLend connection service
Varies by lender
Regular source of income, checking account, not currently involved in bankruptcy or bankruptcy relief
Find a line of credit — even if you don't have a perfect score.
 Check Into Cash Installment Loans
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
Fast5kLoans Short-term Loans Connection Service
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Possible Finance Mobile Installment Loans
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.
Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

Compare up to 4 providers

How to apply for a payday loan in Pierre

Depending on your lender, you may be able to apply online or in store. In general, you’ll need to have a regular source of income, be a US citizen or permanent resident and be at least 18 years old.

No matter where you go, most lenders have a similar application process.

  1. Visit the lender’s store or browse the table above to get started.
  2. Fill out the application with your personal information, including your Social Security number and bank account details.
  3. Provide proof of income, employment and residency. You may have to scan or fax this information.
  4. Submit your application and wait for an approval notice.

Every application is different, but provided you have all the information lenders needs close by, you should be able to finish it in a matter of minutes. Your lender may take a few minutes to process your application and get back to you. If approved, you may be able to pick up your funds at a branch location in Pierre or have the money transfered into your bank account.

Short-term loans in Pierre, South Dakota

Short-term loan locations in Pierre

  • EZ Payday Advance. 1217 E Wells Ave, Pierre, SD 57501
  • Direct Check. 633 E Sioux Ave, Pierre, SD 57501
  • Money Station. 1009 E Wells Ave, Pierre, SD 57501

What are my other short-term loan options in Pierre?

Fortunately for your wallet, all short-term loans in South Dakota have their interest rates capped at 36%. When exploring your other options, make sure your lender isn’t charging more than this.

  • Installment loans. Installment loans are similar to payday loans, but you’ll have longer to repay. Since South Dakota doesn’t specify a term, some lenders offering payday loans in Pierre might also offer installment loans with terms lasting multiple months, making it easier to pay back what you owe.
  • Auto title loans. Title loans are legal in South Dakota. Lenders must abide by the 36% interest rate cap in addition to a term limit of just 30 days. However, this quick turnaround can be difficult for many borrowers, especially since you risk losing your vehicle if you default.

Bottom line

Because South Dakota has a strict cap on payday loan interest rates, it can be difficult to find short-term lenders in Pierre. That doesn’t mean you’re completely out of luck, though. Explore our guide to payday loan alternatives to find other options available.

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