Payday Loans in Eastlake, Michigan

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

Company nameAddressZip codePhone number
Auto Body Credit Union 428 W Washington St, Ionia, MI 48846 +1 (616) 527 - 1260
Thumb Bank & Trust 6132 Cass City Rd, Cass City, MI 48726 +1 (989) 872 - 4311
Minnesota Title Agency 32500 Schoolcraft, Livonia, MI 48150 +1 (734) 421 - 4000
Superior National Bank & Trust 80 Mohawk St, Mohawk, MI 49950 +1 (906) 337 - 6807
Flagstar Bank 914 Charlevoix Dr 100, Grand Ledge, MI 48837 +1 (517) 622 - 4321
Security Credit Union 1675 N Lapeer Rd, Lapeer, MI 48446 +1 (810) 235 - 2322
Olmsted and Mulhall - Wedbush Securities 100 W Crosstown Pkwy, Kalamazoo, MI 49001 +1 (269) 342 - 0111
Huntington Bank 1350 W Lake Lansing Rd, East Lansing, MI 48823 +1 (517) 333 - 0613
Huntington Bank 8850 Shaver Rd, Portage, MI 49024 +1 (269) 569 - 8100
Liberty Tax and Loans 880 W Sherman Blvd Suite 1 Suite 1, Muskegon, MI 49441 +1 (231) 755 - 3130

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Eastlake, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Lansing, MI, Same Day Loans in Lincoln Park, MI, Payday Loans in Livonia, MI, No Credit Check Loans in Macomb, MI, Quick Loan in Madison Heights, MI, Payday Loan for Midland, MI, Payday Loans in Muskegon, MI and Payday Loans in Novi, 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 Eastlake, MI.

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

49626

Are Payday Loans Legal In Eastlake, 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)

Eastlake, MI payday loan calculator

Payday Loans in Eastlake, Michigan: An Easy Guide to Understanding

Payday loans are a popular form of short-term borrowing across America. In Michigan, payday loans are legal and can be obtained by residents in need of quick cash to meet unexpected expenses. The city of Eastlake is no exception, and many residents in the area have also turned to payday loans to bridge the gap between paychecks. In this guide, we will explore the ins and outs of payday loans in Eastlake, Michigan, including how they work, what to consider before taking out a loan, and how to apply.

What are Payday Loans?

Payday loans are short-term loans, designed to meet immediate financial needs. They are often used to pay for unexpected expenses or to cover your bills until your next paycheck arrives. Payday loans are typically due within two weeks, or on your next payday, which is how they got their name.

Payday loans are available at physical stores, as well as online. In Michigan, payday lenders must be licensed by the Michigan Department of Insurance and Financial Services (DIFS).

Payday Loans in Eastlake, Michigan

Eastlake, Michigan has several payday loan stores, and many online lenders also serve the area. Michigan law allows payday lenders to charge up to 15% of the loan amount in fees, with a maximum loan amount of $600. This means that the fees for a $100 payday loan in Michigan would be $15, and the borrower would receive $85.

Before taking out a payday loan in Eastlake, it is important to consider the high fees and interest rates associated with these loans. Payday loans should only be used for emergency expenses and should be paid back as soon as possible to avoid excessive fees.

Applying for a Payday Loan in Eastlake, Michigan

To apply for a payday loan in Eastlake, Michigan, you must be at least 18 years old and have a steady source of income. You will need to provide personal information, such as your name, address, and Social Security number. You will also need to provide proof of income, such as a pay stub or bank statement, to demonstrate your ability to repay the loan.

Once you have applied for a payday loan, the lender will typically make a decision within minutes. If you are approved for the loan, the funds will be deposited into your bank account within one business day.

Things to Consider Before Taking Out a Payday Loan in Eastlake, Michigan

  • High fees and interest rates: Payday loans can be expensive, and it is important to understand the fees and interest rates associated with them before applying.
  • Repayment term: Payday loans are typically due within two weeks. Make sure you can afford to repay the loan on time before taking it out.
  • Alternatives to payday loans: Consider other options, such as borrowing from family or friends, using a credit card, or seeking assistance from a local non-profit organization.

Facts and Statistics about Payday Loans in Eastlake, Michigan

  • The average payday loan amount in Michigan is $350.
  • Michigan law requires that payday lenders be licensed by the Michigan Department of Insurance and Financial Services (DIFS).
  • In 2019, Michigan payday lenders made more than 1.6 million loans, totaling more than $640 million.

Apply Now for a Payday Loan in Eastlake, Michigan

If you live in Eastlake, Michigan, and need quick cash to meet unexpected expenses, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we can simplify the loan application process and help you find the best lender for your needs. Please note that we are not a direct lender, and we do not make credit decisions. To apply now, simply fill out our online application form and get connected with potential lenders.

Remember, payday loans should only be used for emergency expenses and should be paid back as soon as possible to avoid excessive fees. Make sure you understand the fees and interest rates associated with payday loans before taking one out, and consider alternative options if possible.

F.A.Q.

Is there a limit to the number of payday loans I can take out in Eastlake, Michigan?

in Eastlake, Michigan, borrowers are limited to no more than two payday loans in a 90-day period.

Can I be sued for not repaying my payday loan in Eastlake, Michigan?

Yes, if you are unable to repay your payday loan in Eastlake, Michigan, the lender may choose to sue you for the unpaid balance.