Payday Loans in Owendale, Michigan

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

Company nameAddressZip codePhone number
Lake Michigan Credit Union 12409 Stafford St, Ravenna, MI 49451 +1 (800) 242 - 9790
Alliance Catholic Credit Union 9300 Cooper St, Taylor, MI 48180 +1 (877) 950 - 2228
Mortgage One Inc. 1538 Plett Rd, Cadillac, MI 49601 +1 (231) 846 - 2000
Limestone Federal Credit Union 131 River St, Manistique, MI 49854 +1 (906) 341 - 5866
TCF Bank 125 Briarwood Cir, Ann Arbor, MI 48108 +1 (800) 823 - 2265
AutoZone Auto Parts 225 S Cedar St, Imlay City, MI 48444 +1 (810) 721 - 8888
Great Lakes First Federal Credit Union 2110 3rd Ave N, Escanaba, MI 49829 +1 (906) 786 - 4623
Dennis Brodeur - Raymond James 315 N Division St, Traverse City, MI 49684 +1 (231) 421 - 3602
Chase Bank 898 W Houghton Lake Dr, Prudenville, MI 48651 +1 (989) 366 - 5394
Embers Credit Union 9 W, M-35, Gwinn, MI 49841 +1 (906) 228 - 7080

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Owendale, MI, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Dearborn, MI, Guaranteed Loans in Dearborn Heights, MI, Same Day Loans in Detroit, MI, Payday Loans in East Lansing, MI, Payday Loan for Eastpointe, MI, Same Day Loans in Flint, MI, Payday Loans in Grand Rapids, MI and 24-Hour Loan in Holland, 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 Owendale, MI.

Beautiful sights of Owendale, MI

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

48754

Are Payday Loans Legal In Owendale, 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)

Owendale, MI payday loan calculator

Payday Loans in Owendale, Michigan: What You Need to Know

For many individuals in Owendale, Michigan, trying to make ends meet can be a daunting task. Financial challenges can arise unexpectedly, and in such cases, individuals often turn to payday loans as a quick solution. Payday loans are a type of short-term loan that is generally small and is usually repaid within a few pay periods.

Regulations on Payday Loans in Owendale, Michigan

If you’re considering taking out a payday loan in Owendale, Michigan, you should first be aware of the regulations in place that protect you as a borrower.

  • Payday loans in Michigan are legal and are regulated by the Department of Insurance and Financial Services.
  • Payday lenders in Michigan are required to obtain a license to operate
  • The maximum amount that can be borrowed is $600, and the maximum term is 31 days
  • The maximum finance charge that can be applied to a payday loan in Michigan is 15% on the first $100 of the loan amount, 14% on the second $100, 13% on the third $100, 12% on the fourth $100, and 11% on the fifth and sixth $100.
  • Michigan law also allows borrowers to cancel their payday loans within one business day without penalty.

It’s important to note that rollovers or renewals of payday loans are prohibited in Michigan. This means that borrowers cannot take out another payday loan to pay off an existing loan.

How to Get a Payday Loan in Owendale, Michigan

The process of getting a payday loan in Owendale, Michigan is relatively simple and straightforward. Here are the steps:

  • First, find a reputable lender in Owendale or work with a licensed online lender through a connector service like TheGuaranteedLoans
  • Submit an application, providing basic personal and financial information
  • Wait for the lender to review your application and make a decision (this usually takes a few minutes)
  • If approved, sign the loan agreement and receive your funds (often the same day)
  • Repay the loan amount and finance charges on the due date specified in the agreement

It’s important to review the loan contract carefully before signing it and to ask any questions you may have about the loan terms and conditions.

Facts and Statistics about Payday Loans in Owendale, Michigan

According to a survey conducted by the Michigan Department of Insurance and Financial Services, the average payday loan borrower in Michigan takes out eight loans per year, with each loan averaging $350 and typically carrying a 369% annual interest rate.

Furthermore, the same survey found that nearly half (46%) of Michigan payday loan borrowers received government assistance such as food stamps or unemployment benefits.

It’s important to be aware of the potential risks associated with payday loans and to only take out a loan if you are confident that you can repay it on time. Payday loans are not a long-term financial solution and should only be used in emergencies or as a last resort.

Apply Now

Are you in need of a payday loan in Owendale, Michigan? Apply now with TheGuaranteedLoans and connect with a network of licensed lenders who can provide you with the funds you need. As a connector service, we work with a variety of lenders and can help you find the right loan for your specific needs and circumstances.

Our online application process is quick and easy, and you can receive a decision in minutes. Apply now and take the first step towards financial peace of mind.

F.A.Q.

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

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

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

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