no credit check loans in Michigan
no credit check loans in Michigan

Online Payday Loans in Michigan

  • Get up to $600 Quickly
  • Direct Payday Lenders Only
  • Fair Michigan Terms and Rates
  • Online Application Process
  • Fast Loan Approval
  • Bad Credit OK
  • No Credit Check

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Payday Loans in Michigan – What They Are and How They Work

A payday loan is a short-term loan that Michigan residents can access online or at storefront locations. You would pay back an emergency loan on your next payday, usually in two weeks or one month. To apply, you need to submit a loan request, sign the loan agreement, and get the money you need.

The application process is more straightforward than traditional loans, which take longer and have more complex procedures. The average time to get the deposit from your payday lender is one business day. Michigan authorities enforce a $600 limit on payday loans. That will be the maximum amount of money you can take from one payday lender as a customer.

Payday cash loans are also known as deferred deposit advances or deferred presentment service transactions. State laws regulate the amounts, interest rates, and terms. Payday lenders use a shared loan database to check whether an applicant has any outstanding debts.

Why Consider an Online Payday Loan in Michigan?

Payday lending is a popular industry in Michigan due to high demand. Residents find it convenient to receive fast emergency loans when they are facing economic challenges. Payday loans are usually used for unexpected situations. For example, when your car breaks down, but the cost of repairing it exceeds what you can afford.

Cash advance loans are also helpful when you have an unexpected medical bill to cover, rent to pay, or emergency purchases to make. If you need a couple of hundred dollars to pay for groceries, you wouldn’t be the only American getting a short-term loan to put food on the table.

Whatever the reason, a payday lender will not typically go too much into details. With an online application, you have all the chances to get approved, receive your funds within one business day, and solve your emergency. Take note that these loans are for short-term emergencies and not recommended for long-term financial goals.

Michigan Online Cash Advances Rates and Terms

Michigan authorities have imposed a $600 limit on payday cash advances that borrowers can take from one lender. While the law does not specify a minimum loan term, borrowers have 31 days maximum to pay off their debt. Most lenders set up the terms of either 14 or 31 days. Rollovers are not allowed on the state territory. However, two outstanding loans at a time may be allowed, as long as they are from different lenders.

A lender is allowed by law to charge a $28.66 insufficient funds fee if there are not enough funds in the borrower’s account on the due date. If a customer is aware that they cannot repay the loan on time, their direct lender may help them set up an installment payback plan. The service comes at an additional fee.

How to Qualify for a Michigan Payday Loan

To qualify for a Michigan payday loan, you need to meet the basic requirements set up as industry standards by law, as well as any conditions your lender may have.These are the main requirements for applying for a payday cash advance loan:

  • Be 18 years of age or older and have a state-issued ID to prove it;
  • Have a recurring income that can be verified (paycheck, social or disability benefits, alimony, proof of passive income);
  • Be an American citizen or a permanent resident;
  • Have an active bank account (a checking account will work best);
  • Have a valid phone number and email address.

Your lender may ask you for additional information or perform verification of the details provided. For that reason, it’s essential to include only accurate information on your loan agreement.

Payday Loans Near Me in Michigan

The payday lending industry is popular enough in Michigan to find both online and in-store options available. Most consumers prefer to apply through a website. Direct lenders accept scanned documents and e-signatures for a 100% online loan application. A borrower needs a personal computer, a tablet, or a smartphone and internet access to submit an application and finalize the loan process.

If you would rather apply at a storefront location, feel free to visit any local stores. A branch manager will make sure you get all the information you need on the spot. It makes sense to apply at a store rather than online if you have one and your neighborhood, for example, and you happen to be available during their working hours.

Where to Apply for Payday Loans in Michigan

The payday lending industry is popular enough in Michigan to find both online and in-store options available. Most consumers prefer to apply through a website. Direct lenders accept scanned documents and e-signatures for a 100% online loan application.

If you would rather apply at a storefront location, feel free to visit any local stores. A branch manager will make sure you get all the information you need on the spot. It makes sense to apply at a store rather than online if you have one in your neighborhood. You can easily find a payday loan in-store location by completing a simple search on the Internet.

Get payday loans online in Michigan

Michigan Payday Loans Application Process

The application process for a Michigan payday loan is straightforward, and it doesn’t take long. All you need to do is follow 4 simple steps:

  • Complete the application form on our website, then submit it.

  • Wait for a reply. A direct lender needs around 15 minutes to process a loan request and decide whether they can lend to you. If approved, you will get a direct offer via email.

  • Read and sign the loan agreement. We strongly recommend you read the loan contract attentively. Make sure you understand your loan terms and conditions before finalizing the application by signing the loan agreement.

  • Receive your money. Once they have your signature, the direct lender will deposit the funds in your bank account within one business day.

1F Cash Advance advises you to practice responsible borrowing and pay off your debt on time to avoid additional fees. Only take a short-term loan when you are facing a financial emergency and don’t use it for long-term financial issues. Go through the state rules and regulations before applying for a loan to ensure your loan terms are fair.

Why Choose Us?

1F Cash Advance specializes in providing a secure connection for borrowers applying for payday loans through our platform. Our main benefits are:

  • Accessibility. All eligible applicants are free to apply for a payday loan from any convenient place, 24/7.
  • Security. Your data is safe when applying through our website. We do not share your details with anyone other than reliable direct payday lenders.
  • Reliable lenders. We only work with top industry direct lenders authorized to operate in Michigan.
  • Fast approval. Our customers often get almost instant approval on their loan requests on business days. The average time for a lender to process an application is around 15 minutes.
  • Speedy deposit. When applying with us, customers typically receive their money in one business day. Same-day loans and 1-hour deposits are also common.
  • Bad credit OK. You don’t need to have a good credit score to apply for a payday loan with us. Direct lenders don’t typically perform hard credit checks through the three main credit bureaus. So applying for a payday loan does not negatively impact your credit score.
  • Transparent contracts. The top lenders we operate with include fair lending terms and rates in their loan agreements.

Michigan In-Store Payday Loans

Are you looking for an emergency loan? Is your internet down when you desperately need money? Luckily, you can always visit one of our in-store locations to seek help. Our friendly team will provide you with immediate assistance so that you can make an informed decision. Getting a loan with us is safe and straightforward. Fill out the application form to get an offer.

Payday loans in Michigan
Cash advance in Michigan
1F Cash Advance payday loans Michigan

1F Cash Advance Payday Loans Store Location in Bloomfield Twp, Michigan

Branch name: 1F Cash Advance Michigan

Address: 41000 Woodward Ave, Suite 355, Bloomfield Hills, MI 48304

Phone: (248) 970-1967

Email: [email protected]

Branch Manager: Denise Hedin

Hours:
Monday – Friday: 8:00 am to 10:00 pm
Saturday: 9:00 am to 6:00 pm
Sunday: Closed

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Find an In-Store Location Near Me

Are you still looking up “in-store locations near me”? Visit our office in Michigan and get quick assistance. Not in Michigan? No worries! Check out our storefront locations in Colorado, Florida, Illinois, Missouri, Nebraska, Wisconsin, Wyoming, Iowa, Nevada.

Our Products and Services

Payday Cash Advances

Cash advances are easy, short-term loans that you repay with your next paycheck. With their help, almost everyone who meets the general requirements can access an emergency loan. Use it to pay the bills before they are overdue, buy food, fix your car. Whatever financial issue you’re struggling with, we got your back.

Bad Credit Installment Loans

We recommend bad credit installment loans with guaranteed approval to customers who need more money at once. Take a few minutes to apply and get your funds within one business day! No questions asked; you are free to use your emergency cash as you see fit. Repay it in convenient monthly installments.

Title Loans

Use your car, RV, or truck as a pledge to access a title loan at a lower interest rate. Our lenders can provide you with up to 50% of your vehicle’s price, with the funds needing to be repaid in 2 to 4 weeks. You can still use your car within the whole loan lifetime and after it’s due, provided that you repay the money on time.

Check Cashing

Looking for check cashing services? We may be able to help you out. Visit our in-store locations. Most of them have a check-cashing desk that will help you get your cash within minutes. We value your time.

How Much Am I Paying for a Payday Loan?

Michigan state law caps service fees at a certain percentage of the amount you borrow. A lender can charge up to 15% on the first $100 you obtain. Thereafter, fees for each additional $100 are reduced by 1 percent point, with the minimum set at 11%. Below is the table with payday loan cost examples:

Payday Loan Amount Service Fee Limits
$100 $15 (15%)
$200 $29 (14%)
$300 $42 (13%)
$400 $54 (12%)
$500 $65 (11%)
$600 $76 (11%)

FAQs - Michigan Payday Loans

Can I have two payday loans at a time in Michigan?

Michigan state laws allow a borrower to have two outstanding payday loans at a time, provided they are from different lenders. However, a direct lender may deny your application if they consider that you will not be able to handle another loan.

How can I find a nearby cash advance in Lake, MI?

Use our online service for a payday loan to get a reply from direct lenders in Lake, Michigan. We are trusted by borrowers from nearby locations, such as Muskegon, Saginaw, Jackson, Wayne, Calhoun, Genesee, Bay, Allegan, St. Clair, Ingham, Berrien, Kent, Ottawa, Kalamazoo, Monroe, and others.

Can I extend the term of an online payday loan in Michigan?

Michigan laws do not allow customers to rollover their loans. However, you can contact your direct lender for advice if you realize that you cannot pay off your debt on time. A payday lender can give you a few more time to repay you loan but may not charge a fee for extension or increase the amount of your debt.

How fast can I access a payday loan amount in my bank account?

It depends on your lender’s cut-off times. Most lenders make direct deposits within one business day. Some of them can also offer same-day funding options for applicants who get approved before noon on a weekday.

Can I apply for a payday cash advance if I have no credit history or a bad credit score?

You can apply for a short-term loan with no credit history or a less-than-perfect credit score. Direct lenders don't typically do a hard credit check. A bad credit score is not usually a reason for them to deny your loan request. If you qualify based on the main requirements, you have guaranteed approval.

Does getting a payday loan affect my credit score?

In most cases, payday loans don’t take a toll on your credit score as long as you repay them timely. Our lenders don’t make hard credit inquiries, so opening a loan won’t be displayed in your credit report.

Does 1F Cash Advance have a license to operate in the state of Michigan?

1F Cash Advance only works with licensed direct lenders authorized to operate in Michigan.

How will I pay off my cash advance in Michigan?

Your direct lender will ask for your consent to automatically withdraw the funds on the due date when signing the loan agreement. That is a convenient way of repaying your debt on time.

What will be the consequences of not repaying Michigan online payday loans on time?

If you fail to repay the loan on schedule, the lender will report your late payments to major credit bureaus. This will lead to credit score damage. Additionally, the lender will charge late fees that will accrue daily, making your loan even more expensive. If you struggle to pay off the money on time, contact your loan provider and ask for a payment plan.

Latoria Williams

Written by: Latoria Williams

Updated: May 3, 2024