Payday Loans in Benton Harbor, Michigan

Life happens, and we often end up in a situation where we have to pay for some surprise expenses. Consider applying for a payday advance loan in Benton Harbor, Michigan, to see if you qualify.

The application process is quick and effortless. To be qualified, borrowers have to satisfy a few simple criteria.

What is a Cash Advance Loan? What Can It Cover?

A payday loan is where the borrower will be extended a small amount of funds on a short-term agreement. This is considered an unsecured personal loan due to the fact that no collateral is expected.

When surprise expenses present themselves, such as missed rent or utility fees, car repairs, health or vet expenditures, and so forth, individuals usually turn to payday loans.

Payday Loan Requirements In Benton Harbor, Michigan

In Benton Harbor, MI, payday loan borrowers are required to meet a few criteria to be eligible for a loan.

The borrower must:

• Provide proof that they live in Benton Harbor, Michigan
• Must be at least 18
• Have a steady stream of income that they can provide proof of being at least $1,000 per month
• Give current contact details like phone number and email address
• Provide their SSN

If a borrower does not abide by the above criteria, they will immediately be denied a cash advance loan. Make sure you have the documentation needed when submitting your application.

Laws and Regulations Regarding Payday Advance Loans in Benton Harbor, MI

Michigan has ruled payday advance lending legal. Still, they have put forth the below rules and laws for the paycheck advance lending market:

• A single money lender cannot extend a loan in excess of $600. Borrowers are not allowed to have more than two unpaid loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In Michigan, borrowers may not rollover their loans.
• The fees and charges are different for each loan lender. The service costs charged by lenders on each loan or transaction do not fall under interest. The service fees apply to every $100 borrowed and can vary from 11% up to 15%.
• An interest rate is required to be mutually decided upon. APR can be as much as 369%.

Will Cash Advance Lenders in Benton Harbor, MI, Complete Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we partner with will complete a credit check on you, but, even if you possess no credit or less than optimal credit, you may still be eligible for a loan given that you can show that you can repay the loan. Lenders are usually unbothered by your credit history if you provide proof of income and a strategy to repay the loan.

Lenders will rely on a soft credit check, which will not impact your credit score. This is only to get a look at your credit history and general information.

A hard credit pull, on the other hand, needs your explicit consent. These credit checks are performed for a plethora of purposes, such as mortgages, credit card applications, and more.

You might still qualify for a payday advance loan with less than great credit in Benton Harbor, Michigan, as long as you have proof of repayment.

Therefore, when you request a loan, albeit in person or online, double check that you have your income information at hand and any other documents showing that you can repay the loan. The more evidence you have, the better chance your loan request will be granted.

When Will I Receive My Funds in Benton Harbor, MI?

When you get your deposit truly depends on the lender as some lenders offer same-day cash advance loans, which means you will receive your paycheck advance loan on the same day you submit your application, as long as you get an approval.

Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your money until Monday.

If you're needing a same-day payday loan in Benton Harbor, Michigan, you will need to be sure that you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will increase the likelihood that you receive your deposit on the day that you submit your application.

One other consideration that you should be aware of is even if the money lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that credit right away. It's vital that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the cash earlier.

Overall, it's best to prepare ahead of time to receive your deposit on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.

Consider Working With PaydayLoanRadar

If you have underwhelming credit or no credit and are needing to get a cash advance loan, think about applying through us, as you frequently have a higher chance of approval.

We partner with hundreds of different lenders who provide their services online. Most of the time you will get your funds on the following business day so ensure that you plan appropriately.

Although, you can always find the nearest payday advance loan storefront to you and apply in person to strengthen the chances of getting your funds on the same day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so bring a utility bill to the store as well.

To find the nearest payday loan storefront, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Benton Harbor, MI

Below you will find a list of payday loan companies offering their services in Benton Harbor, Michigan. If you can't find a lender near your location in Benton Harbor, consider applying in a nearby city in Michigan. Alternatively, you can apply online on our website and get a decision almost instantly.