Loan Options in North Dakota

North Dakota allows both payday loans and installment loans. Each product requires a separate license from the North Dakota Department of Financial Institutions (DFI). Payday loans operate under N.D.C.C. Chapter 13-08 as "deferred presentment service transactions," while installment loans fall under the state's money broker and consumer finance statutes.

Costs and terms differ significantly between these two products. Review the North Dakota payday loans and North Dakota installment loans pages for specifics, then check the rates and fees page for cost caps and disclosure rules licensed lenders must follow.

Confirm any lender's active license through the DFI before sharing personal information. If you'd rather avoid high-cost borrowing, explore alternatives available in North Dakota.

• Licensing requirement for payday lenders. Any company offering deferred presentment transactions in North Dakota must hold a DFI license. Unlicensed operators are breaking state law, so you can verify a lender is legitimate before applying through the DFI licensee search.
• Written disclosure before you sign. Licensed lenders must provide a written agreement that clearly states the finance charge, total repayment amount, and due date. You can compare costs and walk away if the terms don't work for you.
• Fee caps on payday transactions. State law limits what a licensed payday lender can charge per transaction. For specific dollar amounts and percentage caps, see the North Dakota rates and fees page.
• Complaint process through DFI. If a lender violates state lending rules, you can file a complaint directly with the Department of Financial Institutions at nd.gov/dfi. The DFI investigates complaints and can take enforcement action against licensed entities.

Before sharing personal information with any lender-especially online-review the LendUp scams and safety guide for red flags and verification steps.