What is a Michigan Payday Loan or MI Cash Advance?
A cash advance or payday loan gives you an unsecured, short-term cash advance until your payday. Customers choose payday advances to cover small, unexpected expenses while avoiding expensive late payment fees and bounced-check fees.
You can apply for a Michigan payday loan online today and have your advance electronically deposited to your checking or savings account.
What can a Michigan Payday Loan be used for?
You can use the loan for any purpose to purchase something, pay bills a small vacation, the decision is yours!
How much can I borrow?
Your first Michigan Payday loan is based upon the information you provide within your application. You can borrow any amount up to $1500. After successful repayment of your payday loan, we may raise your loan amount on any future loans.
How are fees established?
Our fees are very competitive and in compliance with any and all applicable State and Federal laws. Depending on the lender the fee can range from $25 to $30 per $100 borrowed. So if you borrow $300 the fee will be between $75.00 to $90.00.
What about qualifying?
Qualifying for a payday advance is easier than qualifying for traditional credit loans. We do not perform any credit checks. You must meet the following requirements though:
- earn at least $1,000 per month
- currently employed
- a current checking account with direct deposit
- be 18 years or older and a U.S citizen
How do I apply for a PayDay loan?
We have made the process simple and safe. All you need to do is just fill up the application form at our website and submit it online. The approval takes place immediately after you submit the application on any of the business days.
What do I have to fill in application form?
Simply enter your name and address, employment information, bank account information and picture identification in the payday loan application form.
Is my application and financial information secure?
Your privacy and security is vital to us. In that regard all of your information is processed securely and processed on a different web server than our own. We use a variety of security measures to maintain the safety of your personal information.
Do you charge an application fee?
We never charge an applicants a fee to qualify for a payday advance.
Does the online form obligate me to taking out a loan?
In simple terms No! When you fill out our online application, you are only stating that you wish to have our agents approve you and contact you to discuss your options. You may ask us any questions, and withdraw your request at this time.
Will my bad credit prevent me from applying for a payday advance?
We can assure you that bad credit will not prevent you from receiving any of our Michigan payday loan products.
I do not own my own home is this a problem?
We can accept your application and it makes no difference to our lenders.
Do I need to fax my details?
You do not need a fax machine to apply for a loan. All information is exchanged electronically and instantly.
Can I have more than one payday loan at the same time?
No. All other payday loans have to be repaid before another loan can be approved.
Do you contact current or former employers?
Our lenders operate a strict confidentiality policy. None of your personal information will be passed onto any third party without your prior agreement or unless required by law.
Do I need direct deposit?
We can only process your loan if your paycheck is direct deposited; it is the most secure way to offer loans as quickly as we do.
How long does it take to receive my payday loan?
Your application will be processed instantly, once it has been received. When approved, you will receive your loan on the next business day. Once you receive the loan, we will help you to schedule you repayment dates so that you won’t have to worry about bounced checks or missed deadlines.
How do I know that my loan has been approved?
You will receive an email once your loan has been approved. We do reserve the right to make adjustments to your loan approval until the time you receive the funds in your bank account based on new information regarding your loan application.
When will my loan be due?
Your due date will normally be due on your next payday that is between 8 and 25 days away. Every State has different rules and regulations.
What if I want to pay early?
Contact your lender if you want to pay your loan off early. If you pay off early, you may be entitled to a refund of part of your loan fee.
What if I can’t repay my loan on the due data?
If you cannot repay the full loan amount on the due date, you may be able to request a loan extension this will depend on your loan provider.
How often can I get a payday loan?
We can help you anytime you need extra cash between paychecks. We encourage all our clients to keep in mind that a payday loan is only a short-term solution to an urgent cash need, and to use these loans responsibly. Payday loans should not be used repeatedly to deal with continuing budgeting issues.
Can you help me get a payday loan in Michigan?
We have linked with a leading provider of payday loans in Michigan. Currently we offer loans in many different States including Michigan.
If your question is not covered here please contact us directly so we can help you further.