Payday Loans in Columbiaville, Michigan

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

Company nameAddressZip codePhone number
Superior Tax & Accounting Services LLC 47480 Paradise Rd, Houghton, MI 49931 +1 (906) 523 - 7012
Mercantile Bank of Michigan 806 N McEwan St, Clare, MI 48617 +1 (989) 386 - 7313
Flagstar Bank 50 S Howell St, Hillsdale, MI 49242 +1 (517) 439 - 9349
Check `n Go 2601 W Pierson Rd Unit 383, Flint, MI 48504 +1 (810) 787 - 2580
Huntington Bank 205 Commercial St, Dowagiac, MI 49047 +1 (269) 782 - 8651
Parkside Credit Union 36525 Plymouth Rd, Livonia, MI 48150 +1 (734) 525 - 0700
Advance America 19135 Telegraph Rd, Detroit, MI 48219 +1 (313) 794 - 7081
Honor Credit Union - Decatur 201 N Phelps St, Decatur, MI 49045 +1 (269) 983 - 6357
Instant Cash Three Rivers 137 N Main St, Three Rivers, MI 49093 +1 (269) 273 - 9100
Metro Cash Advance 42936 Hayes Rd, Charter Twp of Clinton, MI 48038 +1 (586) 412 - 8222

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Columbiaville, MI, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in Saginaw, MI, Payday Loan Companies in Saint Clair Shores, MI, Payday Loans in Southfield, MI, Quick Loan in Sterling Heights, MI, Payday Loan for Taylor, MI, 24-Hour Loan in Troy, MI, Guaranteed Loans in Warren, MI and No Credit Check Loans in Westland, 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 Columbiaville, MI.

Beautiful sights of Columbiaville, MI

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

48421

Are Payday Loans Legal In Columbiaville, 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)

Columbiaville, MI payday loan calculator

Everything You Need to Know About Payday Loans in Columbiaville, Michigan

Payday loans are a type of short-term loan that is typically due within two weeks or on your next payday. These loans are popular among those who need quick cash for unexpected expenses, such as car repairs or medical bills. While payday loans are legal in Michigan, there are certain regulations that lenders must follow to ensure borrowers are protected.

How Payday Loans Work?

The process of applying for a payday loan is relatively simple. Borrowers typically need to provide proof of income, such as a pay stub, and a valid ID to apply. Upon approval, the lender will provide the borrower with the loan amount and a due date for repayment.

The loan amount is typically a percentage of the borrower’s income, and the interest rates can be very high, often exceeding 400%. The high interest rates are one reason why payday loans have come under scrutiny in recent years, but they can still be an option for those in need of quick cash.

Regulations in Michigan

While payday loans are legal in Michigan, there are certain regulations that lenders must follow to protect borrowers. For example, the maximum loan amount is $600, and lenders may not charge more than 15% interest on the first $100 borrowed, 14% on the second $100, 13% on the third $100, 12% on the fourth $100, and 11% on the fifth and sixth $100. Additionally, lenders may not charge more than $15 in fees per $100 borrowed.

These regulations aim to protect borrowers from falling into a cycle of debt caused by high interest rates and excessive fees. If a borrower is unable to repay their loan on time, they may have the option to roll over the loan, but this will incur additional fees and increase the overall cost of the loan.

Benefits and Risks of Payday Loans

Payday loans can provide quick cash for unexpected expenses, but they come with high interest rates and fees. Borrowers should carefully consider the risks associated with payday loans before applying. One benefit of payday loans is that they can often be obtained quickly and without a credit check. This can be helpful for those who have poor credit or who are unable to obtain a traditional loan.

However, payday loans can also be a very expensive form of borrowing, and borrowers may find themselves in a cycle of debt if they are unable to repay the loan on time. It is important to carefully review the terms of the loan agreement and understand the costs associated with borrowing before signing.

Interesting Facts and Statistics About Payday Loans in Columbiaville, Michigan

  • More than 1.6 million payday loans were taken out in Michigan in 2019.
  • The average loan amount was $374, and the average interest rate was 369%.
  • Payday lenders in Michigan made more than $103 million in fees in 2019.

Apply Now

If you need quick cash to cover unexpected expenses, TheGuaranteedLoans can help connect you with potential lenders. Fill out our simple online application to get started. Please note that TheGuaranteedLoans is not a direct lender and does not make loan decisions. We are a connector service that will facilitate your connection with potential lenders.

Apply now and get the cash you need to cover those unexpected expenses!

F.A.Q.

Are payday loans legal in Columbiaville, Michigan?

Yes, payday loans are legal in Columbiaville, Michigan, but they are subject to certain regulations.

What is the maximum finance charge I can be charged for a payday loan in Columbiaville, Michigan?

The maximum finance charge for a payday loan in Columbiaville, Michigan is 15% of the loan amount.