Payday Loans in Gaastra, Michigan

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

Company nameAddressZip codePhone number
Advance America 2390 S Wayne Rd, Westland, MI 48186 +1 (734) 595 - 9120
Consumers Credit Union 56109 S Main St, Mattawan, MI 49071 +1 (800) 991 - 2221
Approved Cash Gold Buyers 1001 US-223, Adrian, MI 49221 +1 (517) 264 - 5120
Justin Kidd, Movement Mortgage 10785 S Saginaw St suite c, Grand Blanc, MI 48439 +1 (810) 626 - 8353
First American Title Insurance Company 3065 W John Beers Rd, Stevensville, MI 49127 +1 (269) 429 - 9306
Fifth Third Bank & ATM 1 W Buffalo St, New Buffalo, MI 49117 +1 (269) 469 - 1004
Check `n Go 1200 S Main St, Adrian, MI 49221 +1 (517) 266 - 1900
Automotive Credit Corporation 26261 Evergreen Rd 300, Southfield, MI 48076 +1 (800) 810 - 1211
Frankenmuth Credit Union Richville Branch 9321 Sanilac Rd, Richville, MI 48758 +1 (989) 497 - 1600
Mercantile Bank of Michigan 230 Woodworth Ave, Alma, MI 48801 +1 (989) 463 - 3137

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gaastra, MI, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Lincoln Park, MI, Payday Loan Without a Credit Check in Livonia, MI, Payday Loans in Macomb, MI, Same Day Loans in Madison Heights, MI, Payday Loans in Midland, MI, Payday Loans in Muskegon, MI, 24-Hour Loan in Novi, MI and Short-term Loans in Pontiac, 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 Gaastra, MI.

Beautiful sights of Gaastra, MI

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

49927

Are Payday Loans Legal In Gaastra, 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)

Gaastra, MI payday loan calculator

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

If you’re facing a financial emergency, a payday loan might seem like a viable option. Payday loans are short-term loans designed to help borrowers cover unexpected expenses between paychecks. This type of loan is legal in Michigan, including in the small town of Gaastra.

How Do Payday Loans Work?

Payday loans are usually small-dollar loans that are repaid with the borrower’s next paycheck. To take out a payday loan, the borrower typically writes a post-dated check for the loan amount plus fees, or provides their bank account information for an electronic withdrawal.

The lender then gives the borrower cash in exchange for the check or electronic withdrawal. When the loan is due, usually within one to two weeks, the borrower can either pay it back or renew the loan with additional fees.

What Are the Requirements for Payday Loans in Gaastra, Michigan?

Michigan has specific requirements for payday loans, including in Gaastra. Borrowers must be at least 18 years old and have a steady source of income, such as a job or government benefits. The borrower must also provide proof of identity and residency in Michigan.

The loan amount is limited to $600, and lenders can charge up to 15% of the loan amount in fees. There are also limits on how many payday loans a borrower can take out within a certain time frame.

Benefits and Risks of Payday Loans

Payday loans can provide quick access to cash in emergencies, but they also come with risks. The high fees associated with payday loans can add up quickly and make it difficult for borrowers to repay the loan on time. A missed payment can result in additional fees and damage to the borrower’s credit score.

Additionally, payday loans can be a trap for borrowers who find themselves taking out multiple loans to cover basic expenses. This cycle of debt can result in a dangerous spiral of financial instability.

Interesting Facts and Statistics about Payday Loans in Gaastra, Michigan

  • In 2020, there were approximately 90 licensed payday lenders in Michigan.
  • The average payday loan amount in Michigan is $375.
  • Michigan’s payday lending industry generated $173 million in fees in 2020.

Apply Now with TheGuaranteedLoans

If you’re considering a payday loan in Gaastra, Michigan, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we’re not a direct lender, but we can facilitate the loan application process and help you find a lender that meets your needs.

Our online application is quick and easy, and it’s available 24/7. Simply fill out the application with your basic information and submit it online. If you’re approved, you could receive cash in your bank account within one business day.

Remember to use payday loans responsibly and only take out a loan if you’re confident that you can repay it on time. If you’re struggling with debt, consider seeking the advice of a financial professional to help you get back on track.

F.A.Q.

Are payday loans legal in Gaastra, Michigan?

Yes, payday loans are legal in Gaastra, Michigan, but they are subject to certain regulations to protect borrowers from predatory lending practices. Under Michigan law, payday lenders are required to be licensed by the state and are subject to certain restrictions on the interest rates and fees they can charge.

How much can I borrow with a payday loan in Gaastra, Michigan?

Under Michigan law, payday lenders are generally allowed to lend up to $600 to borrowers. However, some lenders may offer larger loans, depending on the borrower's income and credit history.