On an assumed loan amount of $750 over 12 months. Rate of interest 292% (fixed). Representative 171%APR. Total repayment amount $1351.20 and total interest is $601.20. 12 monthly payment of $112.60.*
Apply Online For A Payday Loan In Michigan. We Can Help In Detroit, Traverse City and Grand Rapids. Instant Decision
If you're looking for a payday loan in Michigan then Capital Bean can help. Bad credit considered and we work with all credit histories. Get your loan the same day, next day or within 24 hours. Repayment terms from 1 to 60 months.
Simple Steps To Apply For A Payday Loan In Michigan
Use our 100% free online form to apply in less than 5 minutes.
You will receive an instant decision on screen from one of our lending partners who will offer the best rates.
You have already provided your bank account details so within 1 hour, the same day or the next business day you will get your funds.
Is A Michigan Payday Loan Right For Me?
Capital Bean helps you find payday loans to get through short-term financial challenges. If our panel approves your application of lenders, you could have the money in your bank within 1 hour, 24 hours, or the next business day. We offer instant decisions, flexible repayment options, and options for borrowers with poor credit.
You can easily apply for a loan using our online request form. However, it’s important to remember that payday loans should only be used for emergency expenses and should not be relied on as a long-term financial solution. Before taking out a payday loan, carefully read the lender’s terms and conditions to ensure that you can repay the loan on time. If you cannot make a repayment, you may have to pay additional interest, which could negatively impact your credit score.
Capital Bean Can Help You Find A Michigan Payday Loan
Capital Bean can provide a solution if you need cash before your next paycheck. From emergency medical care to unplanned car repairs or burst pipes, there are many reasons why you may require quick access to funds. Our online services are easy to use and can assist you in finding a payday loan throughout Michigan. Apply today and receive a decision in just a few minutes. Our payday advance service is top-rated among Detroit residents.
Is It Legal To Get A Payday Loan In Michigan?
Yes – it is legal to get a Michigan payday loan. In Michigan, individuals can borrow a maximum of $600 from one payday loan lender. However, they can also take out loans from multiple lenders, up to two. The loan term is limited to 31 days, and the interest and fees charged range from 11% to 15% based on the number of $100 transactions. Additionally, it is illegal to take any criminal actions against borrowers.
What Are The Rules For A Michigan Payday Loan?
In Michigan, a borrower is allowed to have two payday loans open at once, but not more than one loan with the same lender. The maximum amount that can be borrowed is $600.00. Payday lenders may charge a service fee and/or a database fee of $0.61. The table below shows how much a payday lender can charge per $100 and how it is calculated. It is important to note that payday loans are expensive forms of credit and should not be used to meet long-term financial goals.
The table below shows much much will be charged per $100 increment up to the maximum of $600.
|Service Fee||Amount in USD|
The table below shows how the fees are calculated if you borrow $100, $250 or $600.
|Loan Amount||Fee Calculated At||Fee Total|
|$250||$15 + $14 + $6.50||$35.50|
Where In Michigan Can I Get A Payday Loan?
We are an online loans comparison website and so we can work with you wherever you are in Michigan. Our process is 100% virtual, and so we can help you wherever you live. Our application process is incredibly quick which means that you can get your money in your account within an hour, or even the next business day.
Plainfield charter township
Gaines charter township
Port Huron city
Washington charter township
Plymouth charter township
Harrison charter township
Lyon charter township
Mount Morris township
Grand Rapids city
Ann Arbor city
Clinton charter township
Shelby charter township
St. Clair Shores
Royal Oak city
Ypsilanti charter township
Bloomfield charter township
Grand Blanc charter township
Holland charter township
Garfield charter township
Highland charter township
Grand Haven charter township
Fenton charter township
Huron charter township
Grosse Pointe Woods
DeWitt charter township and Brandon
Superior charter township
Lincoln charter township
Springfield charter township
Monroe charter township
Benton charter township
Bangor charter township
Sault Ste. Marie
Vienna charter township
Am I Eligible For An Online Payday Loan In Michigan?
There are a number of eligibility requirements for a Michigan payday loan. Many of these laws apply in other states too. To be eligible you must:
- Be a resident of USA
- Be 18 years or older
- Have steady earnings that you can prove with a paycheck
- Earn at least USD 800 per month.
- Have a cell phone where you can receive text messages
- A checking account to receive your money. Your account could be in Detroit, Dearborn or Grand Rapids – we work all across Michigan