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Payday Lenders

These companies offer small loans up to $350 for short terms of generally less than 30 days. A note is issued but repayment is usually required in the form of a post-dated check. These companies are also known as payday lenders.   A consumer small loan company (payday lender) making small loans to Minnesota residents must be licensed but does not have to have a physical location in Minnesota.   Loans made electronically via the Internet are covered under Minnesota Statute §47.60. Questions about this registration should be directed to 651-539-1600.


  • Complete the Consumer Small Loan Lender Filing Application form (.pdf)
  • $250 filing fee. The fee is nonrefundable. 
  • A filed Certificate of Authority from the Minnesota Secretary of State to transact business 
  • A filed Certificate of Assumed Name from the Minnesota Secretary of State if the DBA Name is different from full legal name of the business entity or does not include the full name of each partner. 
  • If a Partnership, a partnership agreement signed by all partners. 
  • Provide a biographical statement and complete list of owners, partners, officers, directors, stockholders (owning 10 percent or more of corporate stock or membership interest), or any employee with authority to exercise management or policy control over the company. 
  • The name and address of the registered agent authorized to accept service of process on behalf of the consumer small loan lender company. 
  • Provide a copy of the schedule of charges to be made and the method of computing those charges. 
  • Provide a copy of the loan contract the consumer will be required to sign. 
  • Provide a copy of the notice "Consumer Notice Required by the State of Minnesota". 
  • Provide a copy of the federal Truth in Lending Act disclosure 
  • Provide evidence of current workers' compensation insurance.


Change of Name on a License 

Name changes on the filing must be submitted in writing within 10 days of the change. Submit a letter to the Commerce Department explaining the change, list the current name and the proposed name, list the filing number, and attach a filed amended Certificate of Authority or Certificate of Assumed Name from the Minnesota Secretary of State.  A new license will be issued when proper documentation is received.

Change of Address on a License 

Any material changes to the information that was submitted with the initial filing must be made within ten (10) days of the change. A new license will be issued with the changed address.


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