The loan business opened on Robert Street. He may not be allowed to be there. – Star tribune

West St. Paul voted in 2012 to limit the place where alternative financial institutions can be located.

Such businesses are not allowed by Robert Street, where Loanmax opened. They are allowed south from there, provided they receive permission from the city and are at least 800 feet from other alternative financial establishments, pawnshops, “use of adults”, business with body art, bingo shops, used goods and Discount shops.

“We are just trying to balance,” said Council member Jim Englin when the city restricts the business. “We don’t want to see Robert Street becoming the check capital of the subway area.”

Alternative financial companies, including loan title enterprises, are controversial and many cities have moved to limit their presence.

A 2015 study of the Charity Trusts of the Charity Trusts have found a less widely used title loans, but similar in the structure of payment loans, often involving high interest rates.