Payday Loans in Sheridan, Michigan

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

Company nameAddressZip codePhone number
Range Bank 100 N Front St, Marquette, MI 49855 +1 (906) 226 - 4040
Aalto Jackie a CPA 200 5th St, Calumet, MI 49913 +1 (906) 337 - 2727
check n go, Check n Go Store Directory 2960 Center Ave, Essexville, MI 48732 +1 (989) 893 - 1932
Cooper-Standard 2799 E Miller Rd, Fairview, MI 48621 +1 (989) 848 - 2272
Huntington Bank 100 E Main St, Gaylord, MI 49735 +1 (989) 731 - 7338
GreenPath Financial Wellness, Ypsilanti, MI 5397 W Michigan Ave, Ypsilanti, MI 48197 +1 (800) 550 - 1961
Bay Port State Bank 1 S Caseville Rd, Pigeon, MI 48755 +1 (989) 453 - 2225
Advance America 1065 W South Airport Rd, Traverse City, MI 49686 +1 (231) 946 - 3409
Shelby State Bank 242 N Michigan Ave, Shelby, MI 49455 +1 (231) 861 - 2123
Chase Bank 7645 S State St, Harbor Springs, MI 49740 +1 (231) 526 - 6243

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Sheridan, MI, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Muskegon, MI, Payday Loans in Novi, MI, Emergency Loan in Pontiac, MI, Payday Loans in Portage, MI, Quick Loan in Roseville, MI, Bad Credit Loans in Royal Oak, MI, Payday Loan Without a Credit Check in Saginaw, MI and No Credit Check Loans in Saint Clair Shores, 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 Sheridan, MI.

Beautiful sights of Sheridan, MI

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

48884

Are Payday Loans Legal In Sheridan, 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)

Sheridan, MI payday loan calculator

Payday Loans in Sheridan, MI

Are you in need of quick cash to handle an unexpected expense or cover bills between paychecks? If so, a payday loan might be a solution worth considering. A payday loan allows you to access funds quickly so you can address your financial needs and repay the loan on your next payday. In this article, we will explore the world of payday loans in Sheridan, Michigan and what you need to know before applying.

What Are Payday Loans?

Payday loans, also known as cash advances, are small short-term loans that are typically repaid on the borrower’s next payday. These types of loans are ideal for individuals who need immediate financial assistance and don’t have access to other forms of credit.

The application process for payday loans is typically straightforward and simple. In most cases, all you need to do is fill out an application and provide proof of income. Approval can be quick, allowing you to access the funds you need within a short time-frame.

Payday Loans in Sheridan, MI: What You Need to Know

Payday loans are legal in Michigan, and here are some of the key regulations you need to be aware of when applying for a payday loan in Sheridan:

  • Payday loans can be up to $600 per loan.
  • Payday loans must have a minimum repayment term of 91 days and a maximum repayment term of 180 days.
  • The maximum finance charge for a payday loan in Michigan is 15% of the first $100 of the loan, 14% of the second $100, 13% of the third $100, 12% of the fourth $100, and 11% of the fifth and sixth $100.
  • Payday lenders are prohibited from giving borrowers more than one loan at a time.
  • The cooling-off period between loans is at least one day after the borrower has paid off the previous loan in full.

The Benefits of Payday Loans

Payday loans provide several benefits over other forms of credit. Here are a few of the key advantages:

  • Easy and quick application process
  • No credit check required
  • Access to funds within a short time-frame
  • Fewer requirements to qualify for a loan
  • Funding can be used for any purpose

The Risks of Payday Loans

While payday loans offer several benefits, they also come with risks. Here are some of the key risks associated with payday loans:

  • High-interest rates and fees
  • Short repayment terms
  • Potential for loan renewals and rollovers
  • Potential for debt cycles and financial hardship

Things to Consider When Applying for a Payday Loan

Before applying for a payday loan in Sheridan, Michigan, here are some things you should keep in mind:

  • Only borrow what you need. Payday loans should be used for emergencies and unexpected expenses, not for luxury purchases or non-essential expenses.
  • Understand the repayment terms. Make sure you understand the repayment schedule, including the due date and the total repayment amount, including fees and interest.
  • Compare lenders. Research and compare lenders to find the best offer with the lowest interest rates and fees.
  • Read the fine print. Make sure you understand all the terms and conditions of the loan agreement before signing anything.

Interesting Facts and Statistics About Payday Loans in Sheridan, MI

  • As of 2021, there are over 400 licensed payday lenders in Michigan.
  • The average payday loan in Michigan is $350, with an average interest rate of 369%.
  • The number of payday loans in Michigan has decreased by 70% since 2005.
  • The average borrower in Michigan takes out eight payday loans per year, with an average loan term of 14 days.

Apply Now

If you’re in need of a payday loan in Sheridan, Michigan, look no further than TheGuaranteedLoans. We are a connector service designed to help borrowers find the best loan offers for their financial needs.

Our online application process is quick and easy, and we partner with a wide range of lenders to give you access to the funds you need. Keep in mind that we are not a direct lender, and we do not perform credit checks. Instead, we work with lenders who are willing to lend to borrowers with poor credit or no credit.

Apply now and get the funds you need to handle your financial emergencies.

F.A.Q.

Can a payday lender in Sheridan, Michigan take me to court if I default on my loan?

Yes, a payday lender in Sheridan, Michigan can take you to court if you default on your loan. The lender may seek a judgment against you for the unpaid balance, which could result in additional legal fees and consequences. It is important to seek legal advice if you are facing this situation.

What are the requirements to qualify for a payday loan in Sheridan, Michigan?

To qualify for a payday loan in Sheridan, Michigan, you must be at least 18 years old, have a valid ID, a checking account, and a steady source of income.