Payday Loans in Lansing, Michigan

Things happen, and we usually wind up in a situation where we must cover some unforeseen expenses. Consider applying for a payday loan in Lansing, MI, to see if you are eligible.

The loan process is fast and effortless. To qualify, you must satisfy a few straightforward conditions.

What is a Paycheck Advance Loan? What Can It Pay For?

A payday loan is where the borrower will receive a petite amount of cash on a short-term contract. This is thought of as an unsecured loan as no collateral is needed.

When surprise bills come up, like missed rent or utility fees, car fixes, medical or vet payments, and so on, people often rely upon payday advance loans.

Payday Advance Loan Requirements In Lansing, Michigan

In Lansing, Michigan, payday loan borrowers are required to meet a few criteria to be eligible for a loan.

The borrower has to:

• Provide proof that they live in Lansing, Michigan
• Must be 18 or older
• Receive an income that they can prove that's at least $1,000 per month
• Provide active contact details including cell phone number and email address
• Provide their SSN

If a borrower does not abide by the above criteria, they will immediately be denied a payday loan. Ensure that you can provide the documentation required when submitting your application.

Laws and Rules Concerning Payday Loans in Lansing, MI

Michigan has deemed paycheck advance lending legal. Although, they have set the below rules and regulations for the cash advance lending market:

• An individual money lender cannot offer a loan in excess of $600. Borrowers cannot have more than two outstanding 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 the State of Michigan, borrowers cannot rollover their loans.
• The fees and charges vary for each lender. The service costs charged by the lender on each loan or transaction do not fall under interest. The service fees apply to every $100 loaned and can vary between 11-15%.
• An interest rate must be mutually settled upon. APR can be as much as 369%.

Will Payday Lenders in Lansing, MI, Complete Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we work with will run a credit check on you, but, even if you possess no credit or dismal credit, you may still be approved for a loan provided you can show that you can repay the loan. Lenders are usually unconcerned about your credit history if you provide proof of income and a strategy to repay the loan.

Lenders will use a soft credit pull, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit check, alternatively, needs your explicit consent. These credit checks are used for a plethora of purposes, including mortgages, credit card applications, and more.

You might still be approved for a payday advance loan with imperfect credit in Lansing, Michigan, if you have proof of repayment.

Therefore, when you apply, whether it is in person or online, double check that you have your income information at hand and any other documents verifying that you can pay back the loan. The more proof you provide, the more likely your loan application will be approved.

When Will I Receive My Loan in Lansing, Michigan?

When you see your money actually depends on the lender as some lenders offer same-day payday advance loans, which means you will see your cash advance loan on the same day you submit your application, as long as you're approved.

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

If you're needing a same-day payday advance loan in Lansing, MI, you will need to be sure that you're applying by 10:30 am. All same-day payments going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will boost the likelihood that you get your cash on the same day that you apply.

One other factor that you should understand is despite if the lender approves your application and posts the deposit to your checking account, sometimes the bank won't release that credit at that time. It's paramount that you let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the money earlier.

Overall, it's wise to prepare in advance to get your loan on the following business day. That way, you're not surprised if you cannot receive it on the same day.

Think About Borrowing From Us

If you possess poor credit or no credit and are wanting to get a cash advance loan, think about applying through us, as you frequently have a better chance of approval.

We work with over one hundred different lenders who offer their services online. Often you will get your money on the following business day so ensure that you plan correctly.

However, you can always find the closest payday loan store to you and apply in person to strengthen the chances of seeing your money on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Occasionally, lenders may request proof of address, so bring a utility bill to the store as well.

To locate the nearest cash advance loan storefront, please navigate to the list below and search for your city.

Payday Loan Direct Lender Companies in Lansing, MI

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