Payday Loans in East Leroy, Michigan

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

Company nameAddressZip codePhone number
Approved Cash Advance 1525 Michigan Ave W 31, Battle Creek, MI 49037 +1 (269) 964 - 7257
SuperCash 1701 North Dort Hwy, Flint, MI 48506 +1 (810) 767 - 7777
LAFCU 1720 W M 21, Owosso, MI 48867 +1 (989) 725 - 7158
Walmart Money Center 1105 S Huron St, Cheboygan, MI 49721 +1 (231) 627 - 2769
Instant Cash Traverse City 1117 W South Airport Rd suite a, Traverse City, MI 49686 +1 (231) 922 - 0003
ELGA Credit Union Davison 8415 Davison Rd, Davison, MI 48423 +1 (810) 715 - 3542
LPL Financial 8011 Miller Rd, Swartz Creek, MI 48473 +1 (810) 630 - 6225
Chemical Bank 807 N McEwan St, Clare, MI 48617 +1 (989) 386 - 3411
Wolverine State Credit Union 201 N State St, Oscoda, MI 48750 +1 (800) 655 - 6508
MSU Federal Credit Union 1133 S Cedar St, Mason, MI 48854 +1 (517) 333 - 2424

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in East Leroy, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Westland, MI, Payday Loans in Wyoming, MI, Payday Loans in Ann Arbor, MI, Payday Loans in Battle Creek, MI, Payday Loans in Bay City, MI, Payday Loans in Bedford, MI, Payday Loans in Dearborn, MI and Payday Loans in Dearborn Heights, 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 East Leroy, MI.

Are Payday Loans Legal In East Leroy, 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)

East Leroy, MI payday loan calculator

Payday Loans in East Leroy, Michigan

Payday loans can be an effective solution for those undergoing financial difficulty. In East Leroy, Michigan, payday loans are legal and can provide much-needed relief for those struggling to pay bills or facing unexpected expenses.

What are payday loans? They are a type of short-term loan that is typically due on the borrower’s next payday. These loans are often used for small dollar amounts, ranging from $100 to $1,000, and can be obtained quickly and without extensive credit checks.

How do payday loans work in East Leroy, Michigan?

In Michigan, payday loans are governed by the Deferred Presentment Service Transactions Act. This law sets forth various requirements lenders must follow to protect borrowers. To apply for a payday loan in East Leroy, Michigan, borrowers must provide proof of income, a valid ID, and a current bank account.

Once approved, borrowers can receive the loan amount in cash or as a direct deposit. The borrower must then repay the loan in full, including fees and interest, by the due date. If the borrower is unable to repay the loan, they may rollover the loan for an additional fee or choose to enter into a repayment plan with the lender.

What are the benefits of payday loans?

  • Quick access to cash
  • No extensive credit checks
  • Flexibility in loan amounts
  • Regulated by state laws to protect borrowers

What are the risks of payday loans?

  • High fees and interest rates
  • Potential for debt cycle trap
  • Not a long-term solution for financial difficulties

How to Apply for a Payday Loan in East Leroy, Michigan

At TheGuaranteedLoans, we are a connector service who can help match you with lenders in East Leroy, Michigan who can provide payday loans. Keep in mind that we are not a direct lender, but rather a facilitator to help connect you with potential lenders.

If you are interested in applying for a payday loan with our help, simply visit our website and fill out the online application form. After you provide your information, we will review your application and match you with a lender who can provide you with a loan offer.

Remember, while payday loans can provide short-term relief, they are not a solution for long-term financial difficulties. Be sure to budget and plan accordingly to avoid falling into a debt cycle trap.

Interesting Facts and Statistics about Payday Loans in East Leroy, Michigan

  • In Michigan, payday loans are limited to $600 per loan, and a borrower can only have two outstanding loans at any given time.
  • The average payday loan in Michigan has a term of about 14 days, with an average annual percentage rate (APR) of 369%.
  • According to the Michigan Department of Insurance and Financial Services, there were over 650,000 payday loans taken out in the state in 2019, totaling over $259 million in loan volume.
  • In Michigan, the Deferred Presentment Service Transactions Act requires lenders to provide a repayment plan to borrowers who request it.

Conclusion

Payday loans can be a helpful solution for those facing unexpected expenses or financial difficulties. However, they come with risks and potential to fall into a debt cycle trap. When using payday loans, it’s important to borrow responsibly and plan accordingly to avoid additional debt.

If you need help finding a payday loan lender in East Leroy, Michigan, visit TheGuaranteedLoans.com and fill out our online application form. Remember to only borrow what you need and consider other financial options before committing to a payday loan.

Apply now with TheGuaranteedLoans and get the cash you need to manage your finances.

F.A.Q.

What is the maximum interest rate that a payday lender can charge in East Leroy, Michigan?

in East Leroy, Michigan, the maximum interest rate that a payday lender can charge is 15% per $100 borrowed. This means that for a loan of $100, the maximum interest charged would be $15.

What are some alternatives to payday loans in East Leroy, Michigan?

There are several alternatives to payday loans in East Leroy, Michigan, including borrowing from friends or family, using a credit card or line of credit, or seeking assistance from a non-profit organization or government agency. Some employers also offer short-term, low-interest loans to their employees as a way to help them through difficult financial times.