Dollar Loan Center Offering Short-Term Loans In South Dakota Again
SIOUX FALLS, S.D. – Dollar Loan Center is once again offering short term loans in Sioux Falls and Rapid City. The company is offering loans of $250 through $1,000 at a 36-percent interest rate.
Borrowers have one week to pay back the money back before getting a late fee. The company stopped offering new loans in November after voters approved the 36-percent interest rate cap known as initiated measure 21.
One month later, owner Chuck Brennan put the Dollar Loan Center buildings in Sioux Falls up for sale.
Brennan also said the interest rate cap was the reason he put Badlands Motor Speedway up for sale and pulled his funding for the Rock & Roll Academy Charity.