Find Payday Loans in South Dakota
Check cash advance loans are authorized under South Dakota’s small loans laws; however the industry is very leniently regulated with few rules and restrictions controlling payday lending. South Dakota’s legislation allows payday advance companies to issue up to $500 in loan funds and borrowers are allowed to extend or rollover their loan a maximum of 4 times. Otherwise, the small loan law of the state does not specify a maximum or minimum loan period or a limit on rates and fees attached to payday loans. Cash advance companies can charge any rates or fees that consumers are willing to accept. Finally, payday companies are required by law to clearly outline all elements of the loan contract, including but not limited to, a breakdown of all rates and fees attached to the loan principal, the loan term and repayment date, and the short-term nature of the payday loan.