Payday Loans in Lakeville, Michigan

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

Company nameAddressZip codePhone number
Thrivent Financial-Lutherans 124 S Mears Ave, Whitehall, MI 49461 +1 (231) 894 - 8886
Approved Cash 2116 N Mitchell St, Cadillac, MI 49601 +1 (231) 779 - 5813
Liberty Tax and Loans 3022 South MLK Blvd, Ste a, Lansing, MI 48910 +1 (517) 394 - 8560
Honor Credit Union - Portage 2340 E Centre Ave, Portage, MI 49002 +1 (269) 441 - 4467
Frankenmuth Credit Union Main Branch 580 N Main St, Frankenmuth, MI 48734 +1 (989) 497 - 1600
Huntington Bank 100 E Main St, Gaylord, MI 49735 +1 (989) 731 - 7338
Flagstar Bank 16390 Silver Pkwy, Fenton, MI 48430 +1 (810) 714 - 2734
Frank Marinelli, NMLS 905667 5610 W Saginaw Hwy, Lansing, MI 48917 +1 (517) 327 - 5626
Pontiac Check Cashing 398 W Huron St, Pontiac, MI 48341 +1 (248) 309 - 3732
Huron Community Bank 327 W Traverse Bay State Rd, Lincoln, MI 48742 +1 (989) 736 - 6727

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lakeville, MI, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Madison Heights, MI, Short-term Loans in Midland, MI, Payday Loan Without a Credit Check in Muskegon, MI, Emergency Loan in Novi, MI, Payday Loan Without a Credit Check in Pontiac, MI, Quick Loan in Portage, MI, Payday Loans in Roseville, MI and Payday Loan Companies in Royal Oak, 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 Lakeville, MI.

Beautiful sights of Lakeville, MI

Are Payday Loans Legal In Lakeville, 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)

Lakeville, MI payday loan calculator

Payday Loans in Lakeville, Michigan: Everything You Need to Know

Payday loans can be a valuable resource for those in need of quick cash to cover unexpected expenses or emergencies. While they can provide temporary relief, it’s important to understand the potential risks and drawbacks involved with these types of loans.

What are Payday Loans?

A payday loan is a short-term loan given to individuals who need immediate cash. They are typically offered by lenders who specialize in this type of loan and require a post-dated check as collateral. The borrower then receives the cash, and on the due date, the lender cashes the check to recover the funds.

In Michigan, payday loans are legal and regulated by state law. Lenders in Michigan can loan up to $600 and charge a maximum fee of 15% of the total loan amount. Michigan law also requires that lenders verify a borrower’s income and establish a repayment plan before providing a loan.

Applying for a Payday Loan in Lakeville, Michigan

If you’re considering applying for a payday loan in Lakeville, there are several things you should know. First and foremost, it’s important to find a reputable and trustworthy lender. TheGuaranteedLoans can connect you with potential lenders and facilitate the application process for you.

It’s also important to carefully read and understand the terms and conditions of the loan. This includes the interest rate, fees, and due date. Make sure you fully understand the repayment terms before signing any paperwork.

Benefits of Payday Loans

  • Quick access to cash: Payday loans can provide quick access to cash when you need it most. This is especially helpful in emergency situations.
  • No credit check required: Unlike traditional loans, payday loans don’t require a credit check. This means they are available to those with bad credit or no credit at all.
  • Simplified application process: The application process for a payday loan is typically quick and easy. This can be especially beneficial if you need cash quickly.

Drawbacks of Payday Loans

  • High interest rates: Payday loans often come with very high interest rates compared to other types of loans. This can make them very expensive.
  • Potential for debt cycle: Because payday loans are typically due within a few weeks, it can be difficult to repay the loan on time. This can lead to rolling over the loan and incurring additional fees, which can start a cycle of debt.
  • Scams and frauds: Unfortunately, not all payday lenders operate ethically. Some may engage in scams or fraudulent activities, such as charging excessive fees or unauthorized withdrawals from a borrower’s bank account. Be sure to research lenders thoroughly before committing to a loan.

Interesting Facts and Statistics about Payday Loans in Lakeville, Michigan

  • Payday loans in Michigan generate over $103 million in fees annually (Detroit Free Press).
  • 63% of payday loan borrowers in Michigan make less than $40,000 per year (MLive).
  • In 2019, Michigan lawmakers passed a bill allowing payday lenders to offer loans of up to $1,000 with repayment terms of up to two years (Detroit Free Press).

Apply Now with TheGuaranteedLoans

Ready to apply for a payday loan in Lakeville, Michigan? TheGuaranteedLoans can help connect you with potential lenders and make the application process easier for you. Remember, we are a connector service, not a direct lender.

To get started, simply fill out our online application and wait for a decision. If you’re approved, you could receive your cash as soon as the next business day.

Be sure to carefully review the terms and conditions of the loan before signing anything. If you have any questions or concerns, don’t hesitate to contact us. We’re here to help!

F.A.Q.

Can I file a complaint against a payday lender in Lakeville, Michigan?

Yes, you can file a complaint against a payday lender in Lakeville, Michigan if you believe they have violated the state's payday loan regulations. You can contact the Michigan Department of Insurance and Financial Services to file a complaint.

Are there any alternatives to payday loans in Lakeville, Michigan?

Yes, there are alternatives to payday loans in Lakeville, Michigan, such as borrowing from friends or family, applying for a small personal loan from a bank or credit union, or seeking assistance from social services programs. It is important to consider all options before taking out a payday loan.