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4 4 reviews

102 E Sheridan St, Ely, MN 55731, USA
+1 (218) 365-6121

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Feedback about Frandsen Bank & Trust?

Here you grapple with the reviews of our customers.

Minimum application form, only an ID was needed. Very quick reviewing. The first loan was given with a limit of $500 at fair rate, so far it has been returned on schedule, it can be either extended or repaid ahead of schedule.

Maximillian Wintheiser

I have a problem with paying back a loan at another banking institution. It is inconvenient to borrow from relativies. Therefore, I decided to contact Frandsen Bank & Trust. They really helped.

Terrell Schuppe I

I recommend Frandsen Bank & Trust to everyone, I am applying for the second time. Everything is great!

Enid Moen

A good payday lender. The service quickly reviewed the application and credited the funds to my bank account.

Prof. Dusty Moore

Only an ID is needed to apply. Was on a working trip and needed cash, it turns out that you can credit your personal bank card safely, and most importantly, quickly. Recommend!

Steve Strosin

Pay Attention

Above there are details about a definite lending company. Below every user may grapple with the essence of payday loans.

Payday Loans in Ely, Iowa

A short-term loan is considered as a payday loan. This is a kind of a financial product issued for 2,3 weeks. Accessible loan amounts are from $100-$1,000.

This financial product in Ely, Iowa is issued simply and quickly. The interest percentage is defined considering the category of the borrower: the more loans are successfully repaid, the more reasonable terms will be guaranteed to you.


337% *

Max Loan


Min Term

Not Specified

Max Term

31 days

How will Frandsen Bank & Trust help issue a payday loan in Ely, Iowa?

  • 24/7 operation. Such Internet services allow you to receive funds at any time. Funds are taken out day and night. The transfer will be sent to a card, so a personal visit to the office is not required.
  • No paperwork. The list of required certificates is minimal. In most cases, an ID is needed. You do not need to provide a certificate of income.
  • Online application. The application is filled in and reviewed much faster than in banks. Money is deposited within 24 hours after receiving approval.
  • High approval rate. When it relates to small amounts, a positive answer comes up 98%.
  • Availability. Banks impose more stringent requirements on their borrowers. Age restrictions and bad credit will become barriers to taking out a loan. Payday lenders are more loyal to customers. The presence of minor delays and a bad credit does not guarantee denial.

What data to fill out in the application? - General Info

To leave an application, every client should enter the following data:

Loan Amount, Loan Purpose, Email Address
First Name, Last Name, Date Of Birth, Primary Phone Number, Driver's License Number, Your SSN
Zip Code, Street Address
How often do you get paid?, Next Paydate, Type of Account, How do you get paid?
Your Income Source, Are you in the military?, Your Employer Name, Your Monthly Net Income, Your Employer Phone Number
If you have $10,000+ in unsecured debt and would like one of our partners to contact you?, What`s your approximate credit rating?
Select your Bank, Select your Bank’s State, ABA/Routing Number, Account Number

Then you have to press a Submit button and recieve an offer.

Why people take out payday loans?


Utility Bills


Healthcare Bills




Car Repair



What data to fill out in the application? - General Info

Bad credit history if one of causes to reject the loan. Payday lenders do not consider this factor the only one to take out a loan in Ely, Iowa. They assess many other factors before issuing a cash advance. One of them is solvency. This is a way to enhance your credit score.

The following common points will be estimated before applying for a payday loan:

  • be at least 18 years old;
  • be a U.S. citizen;
  • be employed and have a reliable source of income;
  • have a checking account;
  • have a valid email address and phone number.

Rate Your Credit Score

Low Rate


Lower than Average


  • No way to issue a loan
  • No ability to rent a room
Average Rate


High Rate


  • 80% of loan approval
  • Apply for all loan types
Great Score


Perfect Score


  • 95% of loan approval
  • Apply for all loans incl. mortgage

Rate your APR

If you need to find out the APR of the payday loan, you are welcome to apply the calculator. It will specify the cost of the payday loan.

APR Calculator

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Security Bank & Trust Co

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Pine Island Bank

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U.S. Bank ATM - Lakeville

20191 Iberia Ave, Lakeville, MN 55044, USA

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U.S. Bank Branch

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+1 (952) 361-2929


Investors Choice Financial Services Inc.

2648 Broadway Ave, Slayton, MN 56172, USA

+1 (507) 836-8844


Home Federal Savings Bank

50 14th Ave E # 100, Sartell, MN 56377, USA

+1 (320) 654-4020


American National Bank of MN

1325 Highway 10 W, US-10, Detroit Lakes, MN 56501, USA

+1 (218) 847-1383


First National Bank-Coleraine

1220 US-169, Grand Rapids, MN 55744, USA

+1 (218) 327-1101