Need for high-interest pay day loans soars in Minnesota. Loan information for Minnesota supplied by Minnesota Department of Commerce.

Need for high-interest pay day loans soars in Minnesota. Loan information for Minnesota supplied by Minnesota Department of Commerce.

Minnesotans are looking at loans that are high-interest other solutions outside of the main-stream bank system, controversial enterprises that run via a loophole to dodge state limitations.

This informative article had been written and reported by Jeff Hargarten, Kevin Burbach, Calvin Swanson, Cali Owings and Shayna Chapel. The content ended up being monitored by MinnPost journalist Sharon Schmickle, manufactured in partnership with pupils during the University of Minnesota class of Journalism and Mass correspondence, and it is the very first in a few periodic articles funded by a grant through the Northwest region Foundation.Continue reading