Payday Loans in Falmouth, Michigan

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

Company nameAddressZip codePhone number
Kruzel Insurance and Financial Services Agency 310 S Lake St 4, Boyne City, MI 49712 +1 (231) 582 - 4848
Chase Mortgage 701 Lake St, Roscommon, MI 48653 +1 (989) 275 - 5158
Instant Cash 1117 W South Airport Rd, Traverse City, MI 49686 +1 (231) 922 - 0003
CASE Credit Union 730 E Saginaw Hwy, Grand Ledge, MI 48837 +1 (517) 393 - 7710
Consumers Credit Union 12705 Riley St, Holland, MI 49424 +1 (800) 991 - 2221
LAFCU 12850 S, Old U.S. 27, Dewitt, MI 48820 +1 (517) 622 - 6600
West Shore Bank 4945 Main St, Onekama, MI 49675 +1 (231) 309 - 5150
CNB Mortgage Corporation 303 N Main St, Cheboygan, MI 49721 +1 (231) 627 - 7111
Westland Cash Advance USA 33688 Ford Rd, Westland, MI 48185 +1 (734) 421 - 2274
Michigan First Credit Union Inside Walmart 3999 Alpine Ave NW, Comstock Park, MI 49321 +1 (800) 664 - 3828

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Falmouth, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Southfield, MI, Payday Loan for Sterling Heights, MI, Guaranteed Loans in Taylor, MI, Payday Loans in Troy, MI, Payday Loans in Warren, MI, Guaranteed Loans in Westland, MI, Payday Loan Without a Credit Check in Wyoming, MI and Payday Loans in Ann Arbor, 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 Falmouth, MI.

Beautiful sights of Falmouth, MI

Are Payday Loans Legal In Falmouth, 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)

Falmouth, MI payday loan calculator

Payday loans are short-term loans that offer quick cash to individuals who need it. They are typically small amounts and are repayable in full on the borrower’s next payday. In Falmouth, Michigan, payday loans are legal. However, it is important to understand the terms and conditions before acquiring a payday loan. This article will discuss everything you need to know about payday loans in Falmouth, Michigan.

How Do Payday Loans Work in Falmouth, Michigan?

When someone in Falmouth, Michigan needs cash immediately, they can apply for a payday loan. To be eligible, you must be at least 18 years old and have a job or source of regular income. The borrower writes a post-dated check for the amount of the loan and a fee, which the lender holds until the borrower’s next payday. The loan can also be paid through automatic withdrawal from the borrower’s checking account.

When the borrower’s next payday comes, they can either pay the loan in full or borrow again by paying only the fee. However, if the borrower cannot pay the loan in full, they can extend the loan. This is called a rollover and comes with additional fees and interest charges.

Interest Rates and Fees

  • In Michigan, payday loan lenders can charge up to 15% on the first $100, up to 14% on the second $100, up to 13% on the third $100, up to 12% on the fourth $100, and up to 11% on the fifth and sixth $100.
  • There is a limit of $600 that can be borrowed at a time.
  • The fees, interest rates, and repayment terms are disclosed to the borrowers in writing before they sign the loan agreement.

It is important to note that late payment or non-payment of the loan can result in additional fees and charges, collection calls, and even legal action.

Benefits of Payday Loans in Falmouth, Michigan

Payday loans in Falmouth, Michigan offer quick cash to individuals who need it. They can assist in emergency situations or when unexpected expenses arise. Additionally, payday loans don’t require a credit check, which can be beneficial for those who have poor credit or no credit history.

Interesting Facts and Statistics About Payday Loans in Falmouth, Michigan

  • According to a report by the State of Michigan, the average payday loan borrower in Michigan takes out eight loans per year, with each loan being for $350.
  • The same report found that 62% of payday loan borrowers in Michigan have an annual income of less than $25,000.

Apply Now

If you are in need of quick cash and live in Falmouth, Michigan, TheGuaranteedLoans can help connect you with a potential payday loan lender. Fill out our online application, and we will facilitate the connection with a lender that matches your needs. It’s important to note that we are a connector service, not a direct lender, and we do not make credit decisions. Apply now to see if we can help you get the cash you need.

F.A.Q.

Can I renew or rollover my payday loan in Falmouth, Michigan?

No, payday loans in Falmouth, Michigan cannot be renewed or rolled over.

What happens if I can't pay back my payday loan in Falmouth, Michigan on time?

If you are unable to pay back your payday loan in Falmouth, Michigan on time, you may be charged additional fees and interest. You may also be subject to collection actions. It is important to contact your lender to discuss your options if you are unable to make a payment.