Payday Loans in Jenison, Michigan
Life happens, and we usually end up in a situation where we must cover some unexpected bills. Think about submitting an application for a cash advance loan in Jenison, Michigan, to see if you qualify.
The application process is swift and simple. To be qualified, loan borrowers have to satisfy a couple of simple criteria.
What is a Paycheck Advance Loan? What Can It Cover?
A cash advance loan is where the borrower will be extended a petite sum of money on a short-term basis. This is deemed to be an unsecured loan as no collateral is required.
When unforeseen bills present themselves, like late rent or utility payments, auto repairs, health or vet bills, and so on, people commonly rely upon paycheck advance loans.
Paycheck Advance Loan Requirements In Jenison, MI
In Jenison, MI, cash advance loan borrowers need to meet several requirements to be eligible for a loan.
The borrower must:
- Provide proof that they are a resident of Jenison, Michigan
- Must be 18 years old
- Have a steady income that they can provide proof of being at least $1,000/month
- Provide current contact information such as phone number and email address
- Give their SSN
If a borrower does not abide by the above rules, they will automatically be denied a payday advance loan. Ensure that you have the documents needed when requesting a loan.
Laws and Regulations Regarding Payday Loans in Jenison, Michigan
The State of Michigan has ruled cash advance lending legal. Still, they have set the following rules and laws for the paycheck advance lending industry:
- An individual money lender cannot offer a loan for more than $600. Borrowers are not allowed to take out greater than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In Michigan, borrowers may not rollover their loans.
- The fees and charges vary for each lender. The service costs charged by lenders on a cash advance loan are not considered interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually agreed upon. APR can range up to 369%.
Will Payday Lenders in Jenison, Michigan, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, still, even if you possess no credit or less than stellar credit, you might still be eligible for a loan given that you can prove that you are able to pay back the loan. Lenders are usually unbothered by your credit if you have proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will have no impact on your credit score. This is simply to get a look at your credit history and basic information.
A hard credit check, alternatively, requires your explicit consent. These credit inquiries are done for a variety of purposes, including mortgages, credit card applications, and more.
You may still qualify for a payday advance loan with imperfect credit in Jenison, MI, provided that you have proof of repayment.
So, when you apply, whether it is in person or online, make sure that you have your income information easily accessible and any other documents proving that you can pay back the loan. The more proof you provide, the better chance you are to be approved.
When Will I Receive My Funds in Jenison, Michigan?
When you receive your cash truly relies on the lender as some lenders provide same-day payday advance loans, which means you will get your paycheck advance loan on the same day you submit your application, as long as you get an approval.
Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your cash until Monday.
If you're looking for a same-day cash advance loan in Jenison, MI, you will need to make sure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that time. However, you should submit an application earlier than that if able, as it will increase the likelihood that you see your money on the day that you apply.
One more consideration that you should be aware of is even if the lender grants your loan request and posts the loan to your checking account, occasionally the bank won't release that funds immediately. It's vital that you let your bank know that you plan to get a payday advance loan, so they might make an exception in releasing the loan earlier.
Overall, it's wise to prepare ahead of time to get money on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Working With Us
If you have poor credit or no credit and are looking to get a cash advance loan, think about applying through us, as you most likely have a better chance of approval.
We work with over one hundred different lenders who offer their services online. Most of the time you will see your loan on the following business day so ensure that you plan accordingly.
However, you can always find the closest cash advance loan store to you and apply in person to strengthen the chances of getting your loan on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may ask for proof of address, so bring a utility bill to the store too.
To locate the nearest cash advance loan store, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Jenison, MI
Below you will find a list of payday loan companies offering their services in Jenison, Michigan. If you can't find a lender near your location in Jenison, consider applying in a nearby city in Michigan. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Jenison, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.