South Dakota is one state that imposes very few restrictions on payday loan practices. While the state only allows four rollovers on a loan, and a maximum pay day loan limit of $500., these are the only current restrictions. Pay day lenders in South Dakota can charge whatever interest rate and finance fees they wish. This gives lenders a considerable amount of leeway for the interest and fees they can charge. This is why it is a good idea for South Dakota residents to check with a number of different lenders before choosing a lender for their pay day loans.
South Dakota Pay Day Loan Laws
Maximum Loan Amount: $500.00
Maximum Interest Rate: no limit
Annual Percentage Rate: no limit
Minimum Payoff Time: none specified by law
Maximum Payoff Time: none specified by law
Extensions Allowed: South Dakota allows four rollovers to pay off pay day loans
Top 5 South Dakota Pay Day Loan Companies
1901 West 41st Street
Sioux Falls, SD
(605) 274-7444
www.dontbebroke.com
This company offers two options for applying for pay day loans. One option is to visit one of the many Dollar Loan Center stores located in South Dakota. The second option is to submit an online application. Unlike most other pay day loan stores, Dollar Loan Center does not require any collateral from their customers.
1215 East Wells Avenue
Pierre, SD
(605) 224-6500
ez-paydayadvance.com
EZ Payday Advance specializes in offering users the chance to get an immediate short-term loan with no credit checks. They allow borrowers to get up to $500 quickly either in person or via their official website. Due to the laws in South Dakota, the repayment times and interest rates can fluctuate greatly. This is heavily influenced by how much you make per month and whether or not you’ve used this service before.
3101 W 41st St # 111
Sioux Falls, SD
(605) 334-8087
reddcash.com
Red D Cash Has South Dakota locations you can visit to get a payday loan quickly and easily. This company is relatively small and only has a handful of stores located in the central portion of the United States. The official website has a very handy, printable table that lists all of their available loans for your state along with what you’ll be expected to pay back and when.
2204 South Minnesota Avenue # 100
Sioux Falls, SD
(605) 332-3232
myloanfactory.com
Loan Factory is a Sioux Falls, South Dakota locally owned and operated company that can get you a payday loan in as little as 10 minutes. You’ll have to visit this company and person to apply for the loan and you’ll need to bring a valid ID, proof of residency such as a utility bill, a few paycheck stubs, and a current blank check. This company can loan you up to the maximum amount allowed in the state if you qualify.
1412 West 41st Street
Sioux Falls, SD
(605) 339-8573
getezmoney.com
EZMoney Is a full-service personal finance company with locations across the United States. These stores offer check-cashing, Western Union, prepaid phone and debit cards, payday loans and in some states, installment loans. You will need to become a member with this company which is free but this will allow you to use all their services anytime you need to and even cash checks with no ID.