Best Payday Loan Lenders in Michigan

Michigan payday loans are regulated by the Deferred Presentment Service Transaction Act enacted in 2005. Not much has changed since making The Great Lakes legislation one of the least updated in the US. We still made sure that that all the lenders on our list are state-licensed and that they respect the law, even though it might be a bit old-fashioned. There is no wrong choice, so browse at your leisure.

Best Payday Loans Providers in Michigan

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Instant Cash Advance Logo

Instant Cash Advance

Proudly serving thousands of satisfied customers for over 15 years!

Instant Cash Advance started doing business in Michigan in 1999. They had a single store in the state but have since expanded to over 20 locations, offering some of the best Michigan payday loans. This company is one of the few locally-owned brands that can still compete with industry giants.

Loan amount range: $25 to $600

Loan term: up to 30 days

APR: 155% to 406% based on the loan term and amount

Min. credit score: N/A

Fees: 11% to 15% of the principal amount (higher loans come with lower fees)

Approval time: Almost instant

Funds available in: Same or next business day

Number of Mississippi stores: 24

Online application: Yes

24/7 open: No

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check'n Go Logo

Check ‘n Go

Real solutions for real people

Check ’n go opened its doors to customers in 1994. Their first storefront was in Kentucky, and they’ve since expanded their business to over 20 states. This company offers quick payday loans, with interest rates that fall well within the industry average. With 26 years of experience and 1,000 stores across the US, you can’t go wrong with Check ‘n Go.

Available in: AL, CA, DE, FL, HI, ID, IL, IN, IA, KS, KY, ME, MI, MS, MO, NE, NV, ND, OH, OK, RI, SC, TN, TX, UT, WI, WY

Loan amount: $50-$1,500 (some states might have a lower cap)

Loan term: 10-35 days

APR: Depends on the loan term (214.68-661.80%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

CashNetUSA Logo

CashNetUSA

With CashNetUSA, money’s on the way!

If you’re looking for a well-established company with long traditions and excellent reviews, then look no further. CashNetUSA has been in business since 2004, and they’ve partnered with more than four million customers across 18 states. They offer one of the best-rated payday loans in the industry.

Available in: AL, AK, CA, FL, HI, ME, MI, MN, NV, ND, OH, OK, OR, SD, TN, TX, WY

Loan amount: $100-$1,500 for first-time customers (some states have a lower cap)

Loan term: 14-35 days

APR: Depends on the loan term (208-520%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same business day if approved

Online application: Yes

Michigan Payday Loan Laws

As noted above, payday loans in the Great Lake State are governed by the Deferred Presentment Service Transaction Act. Since this doesn’t tell us much, we’ve broken down the main requirements governing the payday loans Michigan offers to consumers in the state.

State Law

Requirements for Michigan Payday Loans

Bad Credit Payday Loans

Customers who meet all the requirements shouldn’t worry about their credit score if they need a payday loan in Michigan. None of the lenders on our list run a credit check.

Reviews of the Michigan Payday Loans

Advance America

Advance America takes the crown in terms of accessibility, with 118 storefronts spanning the entire state. It doesn’t end there. They offer online options to consumers in Michigan as wellThis company has been licensed by the Department of Insurance and Financial Services since 2015.

Pros

Cons

Lending Offer Overview

Advance America is a lending industry leader. Without a doubt, they’re experts in their field, ensuring customer satisfaction. Their short-term loans come with the following terms and conditions — customers can borrow between $100 and $600 in-store or online. The loan duration isn’t fixed, but it cannot exceed 31 days. A unique feature of their payday loans in Michigan is the APR, which depends on both the loan amount and its length. To put things into perspective, the interest rate ranges between 155% and 406%, where the lower end represents higher loans with a longer duration. The fees are also linked with the loan amount going from 11% to 15% of the principal amount. While rollovers are not allowed, Michigan consumers are entitled to an extended payment plan once every 12 months.

Other Features

When an emergency strikes, the last thing you want to do is wait, which is where the best Michigan payday loans come in. That’s why Advance America made their application smooth and straightforward. There are three ways in which you can apply — personally in a store, by phone, or online. This company offers near-instant approval times, making access a breeze. Advance America further stands out by supporting non-profit organizations and donating to local and national charities. Lastly, If you ever find yourself wanting to know more about their services, their expert customer support agents are there to help.

Instant Cash Advance

Michiganians who like supporting local businesses might prefer this lender. This company was born and bred in Michigan, and it has gained a significant presence throughout the state. You can obtain payday loans in Michigan with no credit check at one of their 24 storefronts. Instant Cash Advance has been licensed by the State of Michigan since 2011.

Pros

Cons

Lending Offer Overview

Instant Cash Advance follows all industry standards, and this is what their offer looks like. You can get as little as $25 or up to $600, which should cover most of one’s borrowing needs. The loan term they offer is 31 days. However, you can repay the loan earlier without incurring any additional finance charges. Speaking of fees, they depend on the amount you borrow and range from 11% to 15% of the principal amount. The APR is closely connected with both the fee and the loan term, varying between 155% and 406%. Michigan payday loans cannot be rolled over, although everyone can request an extension once in 12 months. The only downside to borrowing with Instant Cash Advance is that this vendor doesn’t offer online payday loans.

Other Features

This brand prides itself on its high standards of security and confidentiality. Customers can rest assured that all of their personal info is safe from prying eyes. Instant Cash Advance offers easily obtainable in-store payday loans in Michigan. You could be on your way, in as little as 20 minutes, from the moment you apply. Indeed the application process is that quick and straightforward. There are two repayment options, and they include a cash deposit or a money order.

Check into Cash

Check into Cash is another renowned lender with a well-established position in the industry. They have 17 storefronts in all the major cities. However, they don’t offer online payday loans in Michigan. This company co-founded CFSA (Community Financial Services Association of America), obliging them to uphold the best lending practices. The Michigan Department of Insurance and Financial Services has been renewing its license since 2015.

Pros

Cons

Lending Offer Overview

From the look of it, Check into Cash laid the foundation for payday loans in the US. They have some of the best payday loans Michigan has to offer. Their customers can expect the following — the loan term goes up to 31 days, whereas the interest rate starts at 286% and peaks at 521%. Borrowers can procure a loan between $50 and $600 in one of their 17 storefronts across the state. This company’s fees go from 11% to 15%, depending on the advanced amount. Loan rollovers are forbidden in Michigan. Still, customers are allowed to enter into an extended repayment plan. Bear in mind that extending a loan isn’t free, and it could cost you up to $17. When the loan reaches maturity, the total amount will be automatically deducted from your checking account, or you could repay by debit card.

Other Features

Check into Cash provides the highest level of security and confidentiality to each borrower. Their customers can easily acquire one of the top payday loans Michigan has to offer. All it takes is some essential personal information and about 10 minutes to fill out the application form. To make the whole process even more streamlined, you can take advantage of their user-friendly app to manage your funds on the go. Their expert and welcoming customer support agents are always there if you have additional questions or concerns.

Check ‘n Go

With 92 storefronts statewide, Check ‘n Go takes second place in terms of accessibility. Their services include in-store cash advances and top online payday loans Michigan has to offer. This lender has been licensed by The Michigan Department of Insurance and Financial Services since 2015.

Pros

Cons

Lending Offer Overview

Without a doubt, Check ‘n Go provides outstanding online and in-store Michigan payday loans. They follow all industry standards, and this is what they have to offer — the minimum loan term isn’t specified, but a loan’s duration cannot exceed 31 days. There is a slight difference in the amount you can borrow online and in-store. The former loan type goes from $100 to $600, while the latter ranges between $50 and $600. The APR is, like always, based on the loan’s length and amount — starting at 332% and capping out at 416%. Clients must pay the regular fee of 11%-15%, based on the principal amount. Rollovers are illegal in the Great Lakes State. Still, Michiganians can apply for an extended repayment plan.

Other Features

If you require swift access to some of the top payday loans online Michigan has in store, Check ‘n Go is the place to be. The application process is simple enough, and the form can be filled out in a matter of minutes. Both loan types come with some upsides and drawbacks, so you can always choose the one to meet your needs better. In-store loans are a preferable option for borrowers requiring near-instant access to cash, whereas online cash advances provide more convenience. Check ‘n Go has one of the best customer support agents in the industry who are just a phone call or an email away.

CashNetUSA

CashNetUSA is a state-licensed brand with decades worth of lending experience, meaning it offers premium Michigan payday loans online to consumers in the state. Throughout the years, they’ve assisted millions of hard-working Americans when the times got tough. However, the lack of storefronts could be a drawback for some borrowers. This lender has been licensed by The Michigan Department of Insurance and Financial Services since 2015.

Pros

Cons

Lending Offer Overview

CashNetUSA offers first-class online payday loans licensed in Michigan to everyone in need of fast access to cash. Customers should expect the loan to reach maturity within 31 days of borrowing the money. If you choose to pay by paper check, there will be a one-day grace period to deposit your check. The loan amount is nothing out of the ordinary, varying between $100 and $600. It should be evident by now that the APR depends on the loan’s duration and the borrowed amount. It can go from 150% to 712%. The finance charges are also linked with the loan amount ranging between 11% and 15% of the face value. It is important to emphasize that rollovers aren’t allowed in the state, although Michiganians can enter into an extended repayment plan if they fork out the appropriate fee.

Other Features

Customers can take advantage of some of the best payday loans online in Michigan with a same-day deposit provided that the request is authorized before 10:30 AM local time. The application itself is quick and easy, and the bulk of requests are granted instantly. Your FICO® score won’t be affected if you apply for one of these loans, as CashNetUSA uses alternative means of checking your credit score. This company wouldn’t be among the best payday loans providers out there if their offer wasn’t a cut above the rest. Customers are still allowed access to free financial courses and tools, even after they’ve paid off their loan.

Statistics for Michigan Payday Loans

It could be interesting to gain an insight into how payday loans work in your state. With that in mind, we prepared some of the most interesting stats covering payday loans in the Great Lakes State.

FAQ

How many payday loans can you have in Michigan?

Consumers in the Great Lakes State are allowed a maximum of two simultaneous cash advances, which should be from different lenders, meaning multiple payday loans in Michigan are not really an option.

In Michigan, what happens if you don’t pay your payday loans?

All borrowers should remember that criminal charges are out of the question. Payday lenders mustn’t threaten you with jail time if you fail to repay a Michigan payday loan. Civil lawsuits, on the other hand, are legal, and you could be subjected to wage garnishment or another way of debt collection.

Are online payday loans legal in Michigan?

Yes, you can get payday loans in Michigan online.

How can I find out if I have any outstanding payday loans in a Michigan database?

Payday lenders can access the database and check a customer has any outstanding payday loans. Keep in mind that they might charge you a fee for this service.

What happens if I have more than 3 payday loans in Michigan?

Having more than two payday loans at a time isn’t allowed in Michigan.

Conclusion

Payday loans are heavily regulated in The Great Lakes state, making it extremely safe to get a cash advance. Still, Michiganians should proceed with care and borrow only from the state-licensed lenders. Thankfully, all the lenders on our list offer legal and licensed Michigan payday loans.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

AdvanceAmerica

InstantCashAdvance

CheckIntoCash

Check ‘n Go

CashNetUSA

MichiganStateLaw

MichiganPaydayLoanStats

RuralPayDayLoans

OppLoans

MichiganDatabaseInfo