Payday loans are short-term loans designed to help you pay for immediate expenses. The loan balance is due in full on your next payday.
If you need cash in a pinch1 and you have a steady source of income, a payday loan could be an option for you. Payday loans can help you cover overdue utility bills, unexpected car repairs, and other emergency expenses.
To apply for a payday loan online, all you need to do is fill out a simple online application and sign a few forms online. This easy process only takes a few minutes. If you are approved, you could pick up the money in-store or have the payday loan deposited into your bank account the next business day.2 On your next payday your account will be automatically debited for the amount you owe.
You can also apply for a payday loan at certain ACE store locations. Just use the store locator to find a store near you and apply in person. If you are approved, you can walk out with funds in hand.2
Payday loans are available both online and in-store in Minnesota. Minimum and maximum loan amounts are as follows:
Online: $100 - $500
In-Store: $100 - $500
If approved, the amount you may borrow will depend upon your income and standard underwriting criteria.1
If approved by 6:00 PM Central Time on Monday – Friday for weekday applications, and by 2:00 PM Central Time on Sunday for weekend applications, you will generally receive the funds the next business day.2
For verification purposes, we may need to contact you by telephone before your loan is approved. Applications received on a weekend or holiday may be verified the next business day due to bank closures.
If you are approved, you will immediately receive your approved loan amount in cash.2
Your payday loan will be due on your next payday (loan duration is state-specific). You will be informed of the due date if your loan is approved.
The amount you owe will be debited from your bank account on the day your loan is due.
You should pay off your loan in the store where the loan was originated with cash on or before the due date. You will not be penalized for making an early payment.
In Minnesota you may be able to refinance your loan up to three times (subject to approval). Click on the FAQs to find out more about the refinance process. You may also be eligible for a payment plan. Call us at (866) 355-6815 to discuss payment plan options.
In Minnesota you may be able to refinance your loan up to four times (subject to approval). You may also be eligible for a payment plan. Contact your store for details.
Every loan comes with a 72-hour satisfaction guarantee. So if you change your mind about your loan, just return the principal within 72 hours and pay nothing more.
In Ohio and Virginia, you have until 5:00 PM Central Time on the third business day after receiving your funds to cancel your loan. For example, if you take out a loan on Monday, you have until 5:00 PM Central Time on Thursday to cancel your loan.
Our credit decision on your application may be based in whole or in part on information obtained from a consumer reporting agency, including, but not limited to, TransUnion, LexisNexis, and/or FactorTrust, Inc. However, inquiries by us will not affect your FICO® score.