Payday Loans in Saint Louis, Michigan

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

Company nameAddressZip codePhone number
Better Than Pawn 6089 W Houghton Lake Dr, Houghton Lake, MI 48629 +1 (989) 202 - 4080
Owner Builder Loans, LLC 2035 Hogback Rd, Ann Arbor, MI 48105 +1 (734) 677 - 3000
United Check Cashing 25313 Van Dyke, Center Line, MI 48015 +1 (586) 755 - 2220
Fast Cash 110 N Dexter St, Ionia, MI 48846 +1 (616) 527 - 7267
Huntington Bank 2591 E M 21, Corunna, MI 48817 +1 (989) 743 - 1131
Michigan First Credit Union Inside Walmart 5110 Times Square Pl, Okemos, MI 48864 +1 (800) 664 - 3828
Allied Cash Advance 2061 M-139, Benton Harbor, MI 49022 +1 (269) 926 - 4596
Check & Cash USA LLC 511 E Houghton Ave, West Branch, MI 48661 +1 (989) 343 - 2400
Chase Bank 101 W Savidge St, Spring Lake, MI 49456 +1 (616) 842 - 1445
Huntington Mortgage Group 221 W Webster Ave 301, Muskegon, MI 49440 +1 (231) 725 - 0310

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Saint Louis, MI

Are Payday Loans Legal In Saint Louis, 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)

Saint Louis, MI payday loan calculator

Payday Loans in Saint Louis, Michigan

Payday loans are a type of short-term loan that can help to cover expenses until payday arrives. Many people in Saint Louis, Michigan, use this type of loan to make ends meet and pay for unexpected expenses. In this article, we’ll provide you with all the information you need to know about payday loans in Saint Louis, Michigan and help you understand how they work, the benefits and risks involved, and how to apply.

What are Payday Loans in Saint Louis, Michigan?

Payday loans are a type of cash advance loan that enables individuals to receive funds based on their employment income. They are available to people who need assistance meeting their financial needs until their next paycheck arrives. In other words, they are designed to be a short-term lending solution for quick access to cash.

In Saint Louis, Michigan, payday loans are legal under state law. This means that individuals can acquire a payday loan for a fee. This fee is a percentage of the amount borrowed, usually ranging from $15 to $30 per $100 borrowed. Interest rates on payday loans can be higher than other types of credit, so it is critical to understand the total cost before applying.

Benefits of Payday Loans in Saint Louis, Michigan

Payday loans offer several benefits for people in Saint Louis, Michigan, including:

  • Quick access to cash: Payday lenders typically offer fast approval and funding, allowing borrowers to receive funds within hours or at most, by the next day.
  • No credit check required: Individuals with poor credit or no credit history can still qualify for payday loans in Saint Louis, Michigan since the main requirement for approval is an income sufficient enough to repay the loan.
  • Convenient application process: Payday loans don’t require extensive paperwork, and most lenders offer online loan applications. This provides convenience and flexibility as borrowers can complete the application from the comfort of their own home or office.

Risks of Payday Loans in Saint Louis, Michigan

Despite the benefits of payday loans in Saint Louis, Michigan, there are also risks involved. It is essential to consider these risks before applying for a payday loan:

  • High fees and interest rates: Payday loans often have higher fees and interest rates than other types of credit. This means that if borrowers can’t repay the loan on time, they may face significant debt and financial difficulties.
  • Roll-over costs: If the borrower cannot repay the loan on time, they may incur additional fees in the form of roll-over charges or penalties. This can lead to additional financial hardship and debt.
  • Debt cycle: If the borrower relies on payday loans to meet their financial needs, they may find themselves trapped in a cycle of debt, due to the fees and interest rates associated with these loans.

How to Apply for a Payday Loan in Saint Louis, Michigan

To be eligible for a payday loan in Saint Louis, Michigan, individuals must have a valid ID, a bank account, and proof of income. They must also be over the age of 18 and a legal resident of the United States. The application process typically involves:

  1. Completing the application form: Applicants must fill out the payday loan application form, which may require personal information such as name, address, phone number, and employment information.
  2. Submitting the application: Once the application form is complete, it can be submitted either online or in person at a payday loan office.
  3. Receiving the funds: If approved, the loan amount will be deposited directly into the borrower’s bank account, allowing access to the cash needed.

Interesting Facts and Statistics about Payday Loans in Saint Louis, Michigan

  • In the state of Michigan, payday lending is legal and regulated under the Deferred Presentment Service Transactions Act.
  • In 2019, Michigan payday lenders extended 235,000 loans totaling $996 million, resulting in $123 million in fees and profits.
  • Payday loan fees in Michigan are capped at 15% for the first $100 borrowed, 14% for the second $100 borrowed, 13% for the third $100 borrowed, 12% for the fourth $100 borrowed, and 11% for the fifth and sixth $100 borrowed.

Apply Now for a Payday Loan through TheGuaranteedLoans

TheGuaranteedLoans is a leading connector service that helps to connect individuals seeking payday loans with trusted lenders. Our online platform offers a convenient and easy way to apply for payday loans in Saint Louis, Michigan, with an extensive network of lenders who can provide quick, reliable funding.

Applying for a payday loan through TheGuaranteedLoans is easy, quick, and secure. Simply fill out our online application form, and we’ll connect you with a lender who can provide you with the funds you need to make ends meet until your next payday arrives. As a connector service, we emphasize that we are not a direct lender. Therefore the terms and conditions of your loan, including the loan amount and repayment length, will be specified by your lender.

Conclusion

Payday loans in Saint Louis, Michigan, offer a solution to those who require short-term assistance in emergencies. However, it is crucial to understand the risks and benefits before applying for one. By considering all factors, individuals can make informed decisions and use payday loans to their advantage.

F.A.Q.

Can I be charged late fees for not repaying my payday loan in Saint Louis, Michigan on time?

Yes, you may be charged late fees if you are unable to repay your payday loan in Saint Louis, Michigan on time. These fees are typically a percentage of the unpaid balance and are capped at a certain amount by state law.

Can a payday lender in Saint Louis, Michigan garnish my wages if I default on my loan?

Yes, a payday lender in Saint Louis, Michigan can garnish your wages if you default on your loan. However, the amount garnished cannot exceed 25% of your disposable income or the amount by which your disposable income exceeds 30 times the federal minimum hourly wage, whichever is less.