Payday Loans in Kinross, Michigan

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

Company nameAddressZip codePhone number
Waverly Emerald Eden E Cash Advance, LLC Virtual Suite 49424, Holland, MI 49424 +1 (866) 714 - 7084
Check Into Cash 1037 N Bagley St, Alpena, MI 49707 +1 (989) 356 - 4275
ChoiceOne Bank 3 N Main St, Yale, MI 48097 +1 (810) 387 - 3229
Check Into Cash 716 Chicago Dr, Holland, MI 49423 +1 (877) 244 - 8254
St Francis Credit Union 7681 S State St, Harbor Springs, MI 49740 +1 (231) 526 - 5980
MoneyGram 310 W Genesee Ave, Saginaw, MI 48602 +1 (989) 771 - 4901
Advance America 135 Chicago Dr Ste. 6, Jenison, MI 49428 +1 (616) 457 - 2137
Universal Jewelry & Loan, Inc. GUNS & AMMO, BUY/SELL/TRADE GUNS, GOLD, JEWELRY, DIAMONDS, CASH LOANS 24834 John R Rd, Hazel Park, MI 48030 +1 (248) 542 - 5921
Old National Bank 200 N Maple Rd, Saline, MI 48176 +1 (734) 470 - 5200
Hantz Financial Services - Marquette, Michigan 228 W Washington St, Marquette, MI 49855 +1 (906) 226 - 7730

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kinross, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Taylor, MI, Payday Loans in Troy, MI, Payday Loans in Warren, MI, Same Day Loans in Westland, MI, No Credit Check Loans in Wyoming, MI, Payday Loan for Ann Arbor, MI, Same Day Loans in Battle Creek, MI and Emergency Loan in Bay City, 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 Kinross, MI.

Beautiful sights of Kinross, MI

Are Payday Loans Legal In Kinross, 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)

Kinross, MI payday loan calculator

Payday Loans in Kinross, Michigan: Understanding the Basics

For individuals dealing with unexpected expenses or temporary financial shortfalls, payday loans can be a helpful solution to get quick cash. Payday loans are short-term loans that usually range from $100 to $1,000, with repayment due on your next payday, hence the name. While payday loans can be a lifesaver for those in need, it’s important to understand the specifics of payday loans in Kinross, Michigan.

Payday Loan Regulations in Kinross, Michigan

Payday loans are legal in Michigan, including Kinross, with certain regulations in place. According to Michigan state law, payday loans can be taken out for up to $600, with fees not exceeding 15% of the loan amount. The maximum loan term is 31 days, and borrowers are allowed to have only one outstanding payday loan at a time. Furthermore, lenders cannot charge customers extra fees when renewing or extending a payday loan.

It’s important to note that while payday loans are legal in Michigan, they should be used with caution. Payday loans often come with high interest rates and fees, which can quickly lead to a cycle of debt if not repaid on time. It’s essential to understand the full terms of the loan, including the repayment terms, before taking out a payday loan.

Payday Loan Application Process

The payday loan application process is typically straightforward and doesn’t require a lot of documentation. Applicants must be 18 years or older, have a valid identification card, and provide proof of income, such as a pay stub or bank statement. Some lenders may also ask for proof of employment or a bank account in good standing.

To apply for a payday loan in Kinross, Michigan, residents can use the online application platform of TheGuaranteedLoans website. As a connector service, TheGuaranteedLoans facilitates the connection between borrowers and potential lenders, making the process faster and more accessible.

Benefits of Payday Loans in Kinross, Michigan

  • Quick access to cash: Payday loans provide an immediate solution for unexpected expenses. The funds can be available the same day, making it an excellent option for those in need of fast cash.
  • No credit check: Payday loans are usually based on income rather than credit score. This can be a helpful option for those with poor or no credit history.
  • Ease of access: The online application process makes it easy for anyone to apply for a payday loan in Kinross, Michigan. No in-person visit is required, and the documentation required is minimal.
  • Flexibility: Payday loans can be used for any purpose, unlike other loans that have specific usage requirements.

Interesting Statistics about Payday Loans in Kinross, Michigan

  • As of 2019, 1.82 million payday loans were issued in Michigan, with an average loan amount of $375.
  • Michigan has one of the highest payday loan usage rates in the country, with 36% of residents using a payday loan in the past five years.
  • The cost of a payday loan in Michigan is significantly higher than the national average. On average, Michiganders pay $9.50 in fees per $100 borrowed, compared to the nationwide average of $5.50 per $100.

Apply Now for a Payday Loan in Kinross, Michigan

Are you in need of quick cash to cover unexpected expenses? Apply now for a payday loan in Kinross, Michigan, using the online application platform of TheGuaranteedLoans. We aim to facilitate the connection between you and a potential lender, making the process faster and accessible. Remember, payday loans are intended for short-term financial solutions and should be used with caution. Ensure you understand the full terms of the loan before signing the contract.

F.A.Q.

Are payday loans legal in Kinross, Michigan?

Yes, payday loans are legal in Kinross, 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 Kinross, 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.