Payday Loans in Rhodes, Michigan

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Barri Agent 1630 Lawndale St, Detroit, MI 48209
Approved Mortgages 5820 N Canton Center Rd # 125, Canton, MI 48187 +1 (734) 455 - 2219
Approved Cash 4026 S Westnedge Ave Suite E Suite E, Kalamazoo, MI 49008 +1 (269) 344 - 8401
Huron Community Bank 423 E Main St, Harrisville, MI 48740 +1 (989) 724 - 6719
Cash Na Flash 803 Riverview Dr, Kalamazoo, MI 49048 +1 (269) 903 - 2255
S O O Co-Op Credit Union 6946 M-221, Brimley, MI 49715 +1 (906) 632 - 5309
Huntington Bank 1111 W North St, Jackson, MI 49202 +1 (517) 841 - 5256
Access 2 Cash 301 S Cedar St, Kalkaska, MI 49646 +1 (231) 258 - 6868
Huntington Bank 24935 W Warren Ave, Dearborn Heights, MI 48127 +1 (313) 724 - 0100
Advanced Payday 451 E St Joseph St, Coloma, MI 49038 +1 (269) 468 - 7688

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Rhodes, MI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Warren, MI, Payday Loans in Westland, MI, Payday Loans in Wyoming, MI, Payday Loans in Ann Arbor, MI, Payday Loans in Battle Creek, MI, Guaranteed Loans in Bay City, MI, Payday Loans in Bedford, MI and 24-Hour Loan in Dearborn, 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 Rhodes, MI.

Are Payday Loans Legal In Rhodes, 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)

Rhodes, MI payday loan calculator

Payday loans are a type of short-term loan that helps borrowers get fast cash to cover emergency expenses. These loans are popular in Rhodes, Michigan, where they provide residents with quick access to cash. Michigan state law permits payday lenders to operate in the state, with certain regulations that aim to protect consumers.

How Do Payday Loans Work?

Payday loans are designed to be a short-term fix for those who have an unexpected expense or need cash before their next paycheck. The borrower writes a postdated check to the lender for the amount of the loan, plus interest and any fees. The lender then gives the borrower the cash, and they keep the postdated check until the borrower’s next payday.

Interest rates on payday loans can be high, often reaching an annual percentage rate (APR) of 400% or more. This makes them a costly option for borrowers who cannot repay the loan in full by the due date. However, many people who use payday loans find them to be a convenient way to get quick cash when they need it the most.

Applying for a Payday Loan in Rhodes, Michigan

Applying for a payday loan in Rhodes, Michigan is a straightforward process. Borrowers can choose to apply in-person at a payday loan store or online through a lender’s website. In either case, the borrower will need to provide basic personal and financial information, such as their name, address, employment status, and bank account details.

The lender will then use this information to determine whether or not the borrower is eligible for a loan and how much they can borrow. Borrowers should keep in mind that payday loans typically come with high fees and interest rates, so they should only borrow what they need and can afford to repay.

Pros and Cons of Payday Loans

While payday loans can be a convenient way to get fast cash when you need it, they also come with significant risks and drawbacks. Some of the pros and cons of payday loans include:

Pros:

  • Quick access to cash
  • No credit check required
  • Easy application process

Cons:

  • High fees and interest rates
  • Short repayment terms
  • Risk of getting trapped in a cycle of debt

Borrowers should carefully consider the pros and cons of payday loans before borrowing money. They should also explore other options, such as borrowing from friends or family, using a credit card, or applying for a personal loan from a bank or credit union.

Interesting Facts and Statistics

  • Michigan has some of the strictest payday lending laws in the country, designed to protect consumers from predatory lending practices.
  • The average payday loan borrower takes out eight loans per year, with an average loan amount of $375.
  • The payday loan industry is estimated to be worth over $46 billion in the United States.
  • More than 80% of payday loans are rolled over or renewed within two weeks of the original loan.

Apply Now

If you need fast cash and are considering a payday loan in Rhodes, Michigan, TheGuaranteedLoans can help connect you with potential lenders. Our free service allows you to submit an online application and receive offers from lenders in our network. Remember, we are a connector service, not a direct lender, and we encourage all borrowers to carefully review the terms and conditions of any loan before accepting it. Apply now to get started!

F.A.Q.

Are payday loans legal in Rhodes, Michigan?

Yes, payday loans are legal in Rhodes, Michigan. However, there are certain regulations in place that lenders must follow in order to offer these loans. These regulations include limits on the amount that can be borrowed, as well as the fees and interest rates that lenders can charge.

What are the requirements for obtaining a payday loan in Rhodes, Michigan?

In order to obtain a payday loan in Rhodes, Michigan, borrowers must be at least 18 years old, have a valid ID, and have a steady source of income. Additionally, borrowers must provide the lender with proof of income and a valid bank account.