Legal Status: Permitted under small loan act or licensing law
Citation: S.D. Codified Laws 54-4-36 et seq.
State of South Dakota Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, ChecknGo.com, QLoot.com, SpeedyCash.com
Maximum Loan Amount: $500
Loan Term: Not Specified
Maximum Finance Rate and Fees:Not Specified
Finance Charge for 14-day $100 loan:No Limit
APR for 14-day $100 loan:No Limit
Collection Fees:Not Specified
Criminal Action:Not Specified
Regulator: South Dakota Division of Banking
Address: 1601 N. Harrison Ave., Suite 1
South Dakota Division of Banking
Entities Regulated by Division of Banking
Consumer Services – File a Complaint
Predatory Lending In South Dakota
The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.
|Borrowed Amount||Loan Period||Monthly Payments||Total Payable Amount|
* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.