Payday Loans in Sylvan Beach, Michigan

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

Company nameAddressZip codePhone number
Dow Chemical Employees' Credit Union 600 E Lyon Rd, Midland, MI 48640 +1 (989) 835 - 7794
Old National Bank 200 N Maple Rd, Saline, MI 48176 +1 (734) 470 - 5200
Grand River & Greenfield Check Cashing Detroit 15631 Grand River Ave, Detroit, MI 48227 +1 (313) 836 - 5200
Check `n Go 17032 Fort St, Riverview, MI 48193 +1 (734) 284 - 1555
Check Into Cash 749 East 9 Mile Road, Ferndale, MI 48220 +1 (248) 548 - 7598
Allied Cash Advance 301 Maplewood St Suite 1B, Greenville, MI 48838 +1 (616) 225 - 9122
Family Financial Credit Union 4075 W Polk Rd, Hart, MI 49420 +1 (231) 873 - 5998
Chemical Bank 375 N Willowbrook Rd, Coldwater, MI 49036 +1 (517) 278 - 4566
Comerica Bank 4555 Dowling, Montague, MI 49437 +1 (231) 893 - 1495
Raymond James & Associates 685 M-32 300, Gaylord, MI 49735 +1 (989) 731 - 2652

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Sylvan Beach, MI, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Macomb, MI, 24-Hour Loan in Madison Heights, MI, Online Loans in Midland, MI, Payday Loans in Muskegon, MI, Payday Loans in Novi, MI, Payday Loans in Pontiac, MI, Bad Credit Loans in Portage, MI and Payday Loans in Roseville, 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 Sylvan Beach, MI.

Are Payday Loans Legal In Sylvan Beach, 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)

Sylvan Beach, MI payday loan calculator

What are Payday Loans in Sylvan Beach, Michigan?

Payday loans are short-term loans that are typically due on your next payday. These loans are intended to help borrowers cover unexpected expenses or bills that they may not be able to pay otherwise. Payday loans are known for their easy and fast application process, with most lenders offering loans on the same day or within a few business days.

In Michigan, payday loans are legal, but there are certain regulations that lenders must follow to ensure that borrowers are protected from predatory practices. Borrowers can take out a maximum loan of $600, and lenders can charge up to 15% interest on the loan amount.

How to Apply for a Payday Loan in Sylvan Beach, Michigan

Applying for a payday loan in Sylvan Beach, Michigan is a straightforward process. You can apply in person at a loan store or online through a lender’s website. The application process typically involves the following steps:

  • Fill out the loan application with your personal and financial information.
  • Provide proof of income and employment, such as a pay stub or bank statement.
  • Provide a post-dated check or ACH authorization for the loan amount plus fees.
  • Wait for the lender to approve your application and disburse the funds to you.

It’s important to note that each lender may have different requirements and application processes, so it’s essential to research and compare different lenders before choosing one. It’s also crucial to ensure that you can afford the loan repayment before signing the loan agreement.

The Pros and Cons of Payday Loans in Sylvan Beach, Michigan

As with any financial product, payday loans have their advantages and disadvantages. Here are some of the pros and cons of payday loans to keep in mind:

Pros:

  • Fast and convenient application process
  • No collateral is needed
  • Can be a useful short-term solution for unexpected expenses or bills

Cons:

  • High interest rates and fees
  • Can lead to a cycle of debt if not repaid on time
  • May not be a suitable solution for long-term financial problems

If you’re considering a payday loan in Sylvan Beach, Michigan, it’s crucial to weigh the pros and cons carefully and ensure that a payday loan is the right choice for your financial situation.

Interesting Facts About Payday Loans in Sylvan Beach, Michigan

  • In Michigan, payday lenders cannot charge more than 15% interest on a loan.
  • The payday lending industry in Michigan is worth over $100 million per year.
  • In 2019, over 320,000 payday loans were taken out in Michigan, averaging around $450 per loan.
  • Payday lenders in Michigan require borrowers to have a steady source of income, such as a job or government benefits.

Apply Now for a Payday Loan from TheGuaranteedLoans

If you’re considering a payday loan in Sylvan Beach, Michigan, TheGuaranteedLoans can help. We are a loan connector service that works with a network of reputable lenders to connect borrowers with potential lenders.

Applying for a payday loan through TheGuaranteedLoans is easy and secure. Simply fill out our online form with your personal and financial information and wait for a lender to contact you.

It’s essential to note that as a loan connector service, we do not make credit decisions or provide loans directly. Instead, we facilitate the connection between borrowers and lenders to ensure that borrowers can find the right loan product for their needs.

Apply now for a payday loan through TheGuaranteedLoans and get the financial assistance you need today.

F.A.Q.

Can I be charged late fees for not repaying my payday loan in Sylvan Beach, Michigan on time?

Yes, you may be charged late fees if you are unable to repay your payday loan in Sylvan Beach, Michigan on time. These fees are typically a percentage of the unpaid balance and are capped at a certain amount by state law.

Can a payday lender in Sylvan Beach, Michigan garnish my wages if I default on my loan?

Yes, a payday lender in Sylvan Beach, Michigan can garnish your wages if you default on your loan. However, the amount garnished cannot exceed 25% of your disposable income or the amount by which your disposable income exceeds 30 times the federal minimum hourly wage, whichever is less.