Fair to Bad Credit Loans in SD

We Find Lenders Who Lend To Bad Credit Borrowers

We Find Lenders Inc. Fair To Bad Credit Loans Logo

Home > How To Apply > South Dakota

Last updated December 9th 2018

Commentary is for informational purposes only. See legal disclaimers here.

Money Trouble in South Dakota?

It's hard when your credit is bad right? We can help, and in about 10 seconds you're going to see how.

Enter your zip and credit score to get started...we got you!

South Dakota Applicants
See How We Can Help You Get Funded!

South Dakota Usury and Regulations

Summary of South Dakota Usury Law(s) / Quote: "Legal: 12% / Contract: Any rate unless specifically limited by code / Judgment: 10% / Corporate: Any rate unless limited by code"

(WeFindLenders.com endeavors to include the most up to date legal data for South Dakota, but no guarantee or warranty of any kind is expressed or implied as to the accuracy of said data. This data is not intended to be legal advice. For legal help speak with a lawyer in South Dakota, and/or contact the South Dakota State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)

South Dakota Usury Law Information: As per South Dakota Statute 54-3-1.1

Legal Maximum Interest Rates: Quote: "Absent agreement, 15 % (§54-3-4)"

Judgment Interest Rates: Quote: "12 % (§54-3-5.1)"


Legal Exceptions: Quote: "Real estate mortgages; Uniform Credit Code security agreements; revolving charge accounts (§54-11-5); regulated lenders §(54-3-13)"

South Dakota Lenders By City

Sioux Falls SD / Rapid City SD / Aberdeen SD / Brookings SD / Watertown SD / Mitchell SD

Complaints to:

South Dakota Department of Banks / South Dakota Complaint Process / South Dakota Complaint Form (PDF)

Physical Address: South Dakota Department of Labor and Regulation Division of Banking / 1601 North Harrison Avenue, Suite #1, Pierre, SD / Phone: 605.5773.3421 Fax: 866.326.7504

South Dakota Lender Service List

South Dakota Bad Credit Lenders Map - Initial Static Image

Click or tap map image above for interactive version.
Lenders
contact us for listing removal or amendment.


Sioux Falls Federal CU
700 E 14th St Sioux Falls
SD 57104 - 605.334.2471
www.siouxfallsfcu.org

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Service First Federal Credit Union
3901 E 10th St, Sioux Falls
SD 57103 - 605.336.1047
www.servicefirstfcu.org

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Black Hills Federal Credit Union
5028 S Marion Rd, Sioux Falls
SD 57106 - www.bhfcu.com
605.937.4600

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Dacotah Federal Credit Union
2990 SD-44, Rapid City
SD 57703 - 605.791.1424
www.dacotahfcu.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Med 5 Federal Credit Union
2300 W Main St, Rapid City
SD 57702 - www.med5fcu.org
605.342.7776

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Highmark Federal Credit Union
725 5th St, Rapid City
SD 57701 - 605.716.4444
www.highmarkfcu.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Dacotah Federal Credit Union
501 St Onge St, Rapid City
SD 57702 - www.dacotahfcu.com
605.348.1961

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Aberdeen Federal Credit Union
2324 8th Ave NE, Aberdeen
SD 57401 - 605.225.2488
www.aberdeenfcu.org

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Healthcare Plus FCU
2, Avera St Luke's Hospital
305 S St - te St, Aberdeen
SD 57401 - www.hcpfcu.coop
605.725.0886

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Dakotaland Federal Credit Union
1601 8th Ave NE Aberdeen
SD 57401 - www.dakotalandfcu.com
605.225.7711

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Bad Credit Loan Form for South Dakota

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Bad Credit Loan Example In SD

Dan needs $1500 to pay for an airline ticket, a wedding gift and hotel fees for his brother’s wedding. He desperately wants to attend the weeding and must find a way to fly to the city where his brother will be married.

It is a destination wedding and he really wants to attend. After all he is going to be the best man.

He has really bad credit and does not have any savings that he can put towards this trip. He needs a bad credit loan or someone to lend him the money until he can pay it back.

His brother knows that he does not have a lot of money.

He does not want to tell his brother that he is so desperate for cash. He has suffered a number of financial setbacks in the past 12 months. The first problem was that a tornado wiped out his double wide trailer.

He was not carrying insurance to save money and so he lost everything. He also lost his job at the same time. The business where he worked was wiped out.

He was able to find work doing cleanup and repairs for people in the area. He is still employed, but it will probably come to an end shortly.

He lost everything and also could not pay his bills which dropped his credit score into the bad credit category. Now he is having trouble finding someone to lend him money.

If only he had paid for home insurance and if only he had saved some cash for emergencies. He needs this loan to attend his brother’s wedding and have a good time for a change after a really difficult year.

A $1500 loan with a one year term and 8.5% interest rate for Dan would cost him the following per month:

• Loan Amount (principal) = $1500
• Interest Rate = 8.5%
• Term Length =1 year
• Monthly Payment = $130.83
• Total Paid Back = $1569.96
• Total Interest = $69.96

Dan certainly is having a bad time of it. He lost his home, his job and his credit score. Hopefully for him this is the end of the bad times and he can look forward to better times.

The good news is that he is living with a buddy rent free. He contributes to the utilities and food of course. His living expenses are very low.

He is making enough money to repay his debts and is making good progress reducing the debts he had before the tornado came through.

Although he missed a couple of payments, he has caught up with them and is in good standing with his bank. Because he is demonstrating a willingness to deal with his responsibilities there is a good chance that a lender will lend him the money he needs. This will be a personal loan since he does not have anything to offer as collateral.

If he wants to improve his credit score he must continue on the path he is on and repay this loan in full. It is only for a one year term and the payments per month are just over $130.

With his income and free rent he should be able to manage this loan easily. He will have fun at his brother’s wedding.

If you live in the State of South Dakota and you're struggling to get a loan approval with a bad credit rating we hope our website helps you in some way.

Sincerely,

Chris Somerset

Chris Somerset is the daughter of Lance Somerset who founded the We Find Lenders Pool. She contributes to WeFindLenders.com whenever she's not having fun with her three children and her husband Ron.

Debt Consolidation Loans in SD

Last 5 debt service loans approved in the State of South Dakota. Source: WFL Lender Pool. Updated Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.

$10000 $70000 $35000 $40000 $15000

10.04% 8.66% 11.10% 6.66% 15.58%

SC Debt Consolidation Providers

South Dakota Debt Consolidation Loan Providers - Initial Static Image

Click or tap map image above for interactive version.
Lenders
contact us for listing removal or amendment.


Debt Hero Sioux Falls
(Debt Consolidation Counselors)
5201 N Granite Ln Sioux Falls
SD 57107 - 605.370.5063

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

A American Debt Consolidation
Rapid City, SD 57701
605.348.2106

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Dakotaland Federal Credit Union
2423 6th St
Brookings SD 57006
www.dakotalandfcu.com
605.697.5922

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Dakota Land FCU
99 Caspian Ave, Volga
SD 57071 - 605.627.5880
www.dakotalandfcu.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Simply Service FCU
1111 Lazelle St, Sturgis
SD 57785 - 605.347.5935
simplyservicefcu.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Northern Hills FCU
1080 Main St, Sturgis
SD 57785 - 605.347.4527
www.northernhillsfcu.org

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Avanti Federal Credit Union
1620 4th St NE, Watertown
SD 57201 - www.avantifcu.net
605.882.2357

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Sioux Valley Co-Op Federal CU
316 E Kemp Ave, Watertown
SD 57201 - 605.882.2706
www.siouxvalleyco-opfcu.com

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Glacial Lakes Edctnl Empl FCU
138 N Lake Dr, Watertown
SD 57201 - www.gleefcu.com
605.882.6933

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Watertown Educational Employee
920 2nd Ave SE, Watertown
SD 57201 - www.gleefcu.com
605.882.6933

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

SD Debt Consolidation Application Form

South Dakota Application Form
Bad Credit Debt Consolidation Loans (?)
 

About Consolidation Loans In SD

When you're considering a consolidation you need to make sure you're on a solid footing with plan for your financial future. If you go ahead and get a loan to pay off multiple loans and you don't have good budget, you're most likely to continue to overspend and find yourself in even more debt going forward.

You should take inventory of your exact monthly spending and compare that with your monthly income. Only then can you get on your way to solvency. Tip: when you're creating your monthly budget be sure to record EVERY outgoing dollar.

Consolidation Loan in South Dakota

David is looking for a loan to help him move closer to his parents and also to consolidate his credit card bills.

He tried working in the southwest, but felt that he just did not blend in with the locals. He really enjoys the South Dakota lifestyle and wants to move back home.

He has a job waiting and plans to give notice at his current place of employment at the end of the week providing that he can be approved for the $5000 loan he is seeking.

He needs $3500 to pay off his credit card debt and he feels that he needs another $1500 to cover his moving expenses which also includes breaking the lease he has on his current apartment.

He will be moving back in with his parents for a few months until he can find a place to live. He wants to be closer to them, but not living with them.

He is going to rent a U-Haul trailer to bring his possessions home with him and plans to pull it with his small truck. He is going to have to leave some things behind, so he will either donate them or give them to some friends that he made while he was living in the southwest.

He has a job waiting for him and he has a good credit rating, although if he does not clear the credit card debt, his credit score could drop somewhat. He wants to repay the loan over a two year period.

A $5000 loan with a 2 year term 8.75% interest rate for David would cost him the following per month:

• Loan Amount (principal) = $5000
• Interest Rate = 8.75%
• Term Length = 2 year
• Monthly Payment = $227.85
• Total Paid Back = $5468.41
• Total Interest = $468.41

This is an unusual situation to deal with. Lenders look for many different indicators to evaluate risk before they will approve a loan.

These indicators include credit score, current debt, employment income, time on job, time at current residence etc.

Although David’s credit score is ok, he is moving to a brand new job in another state and will be starting as soon as he can get there.

He will be living with his parents until he can find a place. All of this appears very unstable to lenders and therefore high risk from their perspective.

They want to make sure that when they approve a debt consolidation loan, they are going to be repaid.

There are a couple of solutions to David’s issues. If David’s new employer is willing to provide a letter stating the job offer he has, the date he will start and the salary he will receive, it will help mitigate some of the perceived risk.

Also if David’s father would be willing to co-sign the loan, it would reduce the risk perception even further assuming that his father has a good credit score and meets all of the criteria for a borrower.

David’s father must be prepared to accept the risk and be willing to guarantee the loan if David for some reason cannot or will not repay the loan.

His father would have to repay the loan on David’s behalf. More to come before his loan can be finalized.

If you live in the State of South Dakota and you're trying to get approved for a debt consolidation loan, we hope our website helps you find a good lender regardless of your credit rating.

Sincerely,

Andy Somerset

Andy Somerset is the son of Lance Somerset who founded the We Find Lenders Pool. He writes for WeFindLenders.com whenever he's not working hard on his degree in finance.

Credit Counseling Services In SD

South Dakota Credit Counseling Providers - Initial Static Image

Click or tap map image above for interactive version.
Counselors
contact us for listing removal or amendment.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Consumer Credit Counseling
2310 N Maple Ave Rapid City
SD 57701 - www.cccsbh.com
605.348.4550

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Pioneer Credit Counseling
1644 Concourse Dr, Rapid City
SD 57703 - www.pioneercredit.com
605.348.1608

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Allen Credit & Debt Counseling
20003 387th Ave, Wolsey
SD 57384 - www.acdcas.com
888.415.8173

- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

WFL Loan Product Menu

  • Bad credit scores below FICO 650
  • 200+ lenders review your pre-application(s)
  • Applying does not worsen your credit score
  • Interest rates starting as low as 9% (cs)
  • Collateral not always required
  • Funding between 24 hours and 5 days
  • Terms from 6 months to 10 years
  • Borrow between $500 and $50,000
  • Loans for people with 650+ credit scores
  • 500+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Fast approvals and fast funding
  • Line of credit approvals with reasonable APR
  • Borrow between $500 and $150,000
  • Lenders who provide bad credit consolidation
  • Debt settlement or debt relief services
  • 300+ lenders can review your application
  • Interest rates starting as low as 7% (cs)
  • Seamless approval and funding process
  • Debt relief counseling available
  • Borrow form $5000 - $150,000

Loan Calculator / Estimation Only

- - - - - - - - - - - - - - - - - - - - - Enter
  Loan Amount
  Interest rate
  Term In Yrs
- - - - - - - - - - - - - - - - - - - - - Results
  Mo. Payment
  $$ To Lender
  $$ of Interest

 

Important Information

FAQ / Privacy / Terms / Contact / Site Map

Disclaimer / Security / FICO Impact / Credits

About the WFL Lender Pool / Our Team

Ad Disclosure / APR & Fees / Collection

Default Implications / Service Areas

 

Back to Top

©2018 We Find Lenders Inc. All Rights Reserved