Payday Loans in Arcadia, Michigan

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No payday loan companies in Arcadia, MI. Consider companies in other cities:

Company nameAddressZip codePhone number
Cash Connection 10800 Grand River Ave, Detroit, MI 48204 +1 (313) 491 - 8400
Huntington Bank 19100 Hall Rd, Charter Twp of Clinton, MI 48038 +1 (586) 416 - 4400
Lake Trust Credit Union 17350 Robbins Rd, Grand Haven, MI 49417 +1 (888) 267 - 7200
Advance America 30780 Hoover Rd, Warren, MI 48093 +1 (586) 582 - 0380
Great Lakes Federal Credit Union 415 Washington Ave, Bay City, MI 48708 +1 (989) 893 - 2831
Flagstar Bank 1001 N Main St, Rochester, MI 48307 +1 (248) 652 - 9792
Home Loan Specialists 36139 Schoolcraft, Livonia, MI 48150 +1 (734) 524 - 0400
Bank of America with Drive-thru services 395 Briarwood Cir, Ann Arbor, MI 48108 +1 (734) 747 - 7638
KeyBank 100 W Michigan Ave, Saline, MI 48176 +1 (734) 944 - 4962
First Bank, Upper Michigan 2800 Ludington St, Escanaba, MI 49829 +1 (906) 786 - 3355

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Arcadia, MI, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Battle Creek, MI, 24-Hour Loan in Bay City, MI, Payday Loans in Bedford, MI, Payday Loans in Dearborn, MI, Bad Credit Loans in Dearborn Heights, MI, Payday Loans in Detroit, MI, Payday Loans in East Lansing, MI and Payday Loan Companies in Eastpointe, MI. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Arcadia, MI.

Beautiful sights of Arcadia, MI

Payday Loans Available in Arcadia, MI By The Following ZIP Codes:

49613

Are Payday Loans Legal In Arcadia, Michigan?

Loan Rates and Fees, Laws and Regulations in Michigan.

Michigan Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)369
Maximum Loan Amount$600
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges15%-11% (depending on the number of $100 transactions)

Arcadia, MI payday loan calculator

Introduction:

If you’re considering taking out a payday loan in Arcadia, Michigan, it’s important to understand the laws and regulations surrounding these loans in Michigan. Payday loans provide a fast and convenient solution for those who need extra cash to cover unexpected expenses, but they can also lead to a cycle of debt if not managed properly. In this article, we’ll explore everything you need to know about payday loans in Arcadia, Michigan.

The Basics of Payday Loans in Michigan:

Payday loans are legal in Michigan and regulated by the Michigan Department of Insurance and Financial Services. These loans are designed to provide short-term financial assistance to individuals who need to cover unexpected expenses between paychecks. The maximum amount you can borrow with a payday loan in Michigan is $600, and the loan term cannot exceed 31 days.

The Application Process:

Applying for a payday loan in Arcadia, Michigan is typically a quick and easy process. Many lenders offer online applications, allowing you to apply from the comfort of your own home. The application will typically require your personal information, including your name, address, Social Security number, and employment information. Once you submit your application, the lender will review your information and determine whether or not you qualify for a loan.

Interest Rates and Fees:

Payday loans in Michigan are subject to certain regulations designed to protect consumers from predatory lending practices. The interest rate for a payday loan in Michigan cannot exceed 15% of the first $100 borrowed, 14% of the second $100 borrowed, and 13% of the third $100 borrowed. In addition, lenders can charge a maximum of $15 in fees per $100 borrowed. These fees and interest rates can add up quickly, so it’s important to carefully review the terms of your loan before accepting.

Repayment:

Payday loans in Michigan are generally due on your next payday, which is typically within 14 to 31 days of taking out the loan. If you’re unable to repay the loan on time, you may be eligible for a repayment plan that allows you to pay back the loan over a longer period of time. However, this option may come with additional fees and interest.

The Risks of Payday Loans:

While payday loans can provide a quick and convenient solution for those who need extra cash, these loans can also be risky. The high interest rates and fees associated with payday loans can make it difficult to repay the loan on time, leading to a cycle of debt. If you’re considering a payday loan, be sure to carefully review the terms of the loan and consider whether you can realistically afford to repay the loan.

Facts and Statistics about Payday Loans in Arcadia Michigan:

  • Michigan has the highest payday loan APR cap in the nation at 390%.
  • According to the Center for Responsible Lending, the average payday borrower in Michigan takes out 10 loans per year and spends 199 days in debt.
  • As of 2019, there were 542 payday loan storefronts in Michigan, many of which are located in low-income areas.

Apply Now:

If you’re in need of a payday loan in Arcadia, Michigan, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is quick and easy, and we can help match you with lenders who may be able to provide you with the funds you need. Remember, TheGuaranteedLoans is not a direct lender, but a connector service that can help facilitate your connection with potential lenders.

Conclusion:

Payday loans in Arcadia, Michigan have their benefits and drawbacks. While they can provide a quick solution for those who need extra cash, they can also lead to a cycle of debt if not managed properly. If you’re considering taking out a payday loan, be sure to carefully review the terms of the loan, and consider whether you can realistically afford to repay the loan. With the right knowledge and careful consideration, a payday loan could be a helpful financial tool.

F.A.Q.

What is the repayment period for payday loans in Arcadia, Michigan?

The repayment period for payday loans in Arcadia, Michigan is typically 14 days.

Can I have multiple payday loans at once in Arcadia, Michigan?

in Arcadia, Michigan, borrowers are not allowed to have more than one payday loan outstanding at any given time.