Payday Loans in Painesdale, Michigan

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

Company nameAddressZip codePhone number
Homestead Savings Bank 415 S Superior St, Albion, MI 49224 +1 (517) 629 - 5588
Dort Financial Credit Union 9050 Holly Rd, Grand Blanc, MI 48439 +1 (810) 767 - 8390
MSU Federal Credit Union 16861 Marsh Rd, Haslett, MI 48840 +1 (517) 333 - 2424
New American Funding 41050 W 11 Mile Rd, Novi, MI 48375 +1 (248) 215 - 0573
Fifth Third Bank & ATM 120 N St Joseph St, Suttons Bay, MI 49682 +1 (231) 271 - 3031
Shelby State Bank 1710 US-31, Manistee, MI 49660 +1 (231) 398 - 9723
4Front Credit Union 1960 US-31 South, Manistee, MI 49660 +1 (800) 765 - 0110
Macatawa Bank 2261 84th St SW, Byron Center, MI 49315 +1 (877) 820 - 2265
Preferred Auto Advantage 125 N Beacon Blvd 1501, Grand Haven, MI 49417 +1 (616) 935 - 9600
Allied Cash Advance 1044 28th St SW Unit 7E, Grand Rapids, MI 49509 +1 (616) 532 - 1745

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Painesdale, MI, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Southfield, MI, Payday Loans in Sterling Heights, MI, Payday Loans in Taylor, MI, Payday Loans in Troy, MI, Payday Loans in Warren, MI, No Credit Check Loans in Westland, MI, Payday Loan Without a Credit Check in Wyoming, MI and Online Loans in Ann Arbor, 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 Painesdale, MI.

Are Payday Loans Legal In Painesdale, 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)

Painesdale, MI payday loan calculator

Payday loans have become increasingly popular in Painesdale, Michigan, as they offer a quick and convenient source of cash for those in urgent need. Although some people consider them a last resort, a payday loan is a legitimate way of dealing with sudden bills, emergencies, or other unforeseen expenses.

What is a Payday Loan?

A payday loan is a short-term loan that allows borrowers to access up to $600 within one or two business days. This type of loan is ideal for people who need urgent cash but do not have access to traditional bank loans due to poor credit scores or no credit history.

It is important to know that payday loans come at a higher interest rate compared to traditional loans; however, there are no hidden fees or penalties. This means that you will know exactly how much you owe and when you need to pay it back. Moreover, the state of Michigan has strict laws and regulations that payday lenders need to follow.

How to Get a Payday Loan in Painesdale, Michigan

To apply for a payday loan, you need to:

  • Be at least 18 years old;
  • Be a US citizen or resident;
  • Have a valid ID and Social Security Number;
  • Have a checking account;
  • Provide proof of income, such as a pay stub or bank statement;

If you meet these criteria, you can apply for a payday loan online or in person. You will need to fill out an application form that includes your personal and financial information. You may also be required to provide supporting documents such as proof of residency or employment.

Once your loan is approved, you will receive the money directly into your checking account. You will then need to repay the loan on your next payday or within a maximum of 31 days. If you are unable to repay the loan on time, you can request an extension or a payment plan.

Interest Rates and Fees

The interest rates and fees on payday loans in Painesdale, Michigan are regulated by the state’s laws and regulations. The maximum interest rate allowed is 15% for the first $100, 14% for the second $100, 13% for the third $100, 12% for the fourth $100, and 11% for the fifth and sixth $100. The maximum loan amount is $600.

In addition to interest rates, you may also be charged a loan origination fee, a late payment fee, or a non-sufficient funds fee.

Apply Now

If you are considering applying for a payday loan, TheGuaranteedLoans is here to help. We are a connector service that can help you find a lender who can provide you with the cash you need. We work with a network of trusted lenders who abide by all state and federal laws and regulations.

Our online application process is quick, easy, and secure. To get started, simply fill out our online application form with your personal and financial details. We will match you with potential lenders who meet your specific needs and requirements. If you are approved for a loan, the money will be deposited directly into your checking account.

Remember, payday loans are a legitimate and convenient way to deal with sudden expenses or emergencies. However, they should not be considered a long-term solution to financial problems. If you are struggling with debt, it is important to seek professional advice and assistance.

Interesting Facts about Payday Loans in Painesdale, Michigan

  • In 2018, there were 6,568 payday loans issued in Painesdale, Michigan, with a total loan amount of $2,453,800.
  • 83% of payday loan borrowers in Michigan use them for recurring expenses, such as rent, utilities, and groceries.
  • The average APR for a payday loan in Michigan is 369%.
  • Michigan is one of 37 states that allow payday lending, but some cities and counties have enacted local ordinances regulating them.

Remember, applying for a payday loan should be considered only when you have exhausted all other options and you are confident that you can repay the loan on time.

F.A.Q.

Can I be arrested for not repaying my payday loan in Painesdale, Michigan?

No, you cannot be arrested for not repaying your payday loan in Painesdale, Michigan. However, the lender may choose to pursue legal action against you to recover the unpaid balance.

Is it illegal to take out a payday loan in Painesdale, Michigan if I am already in debt?

No, it is not illegal to take out a payday loan in Painesdale, Michigan if you are already in debt. However, it is important to carefully consider whether you will be able to repay the loan and avoid further financial difficulties.