Payday Loans in Norton Shores, Michigan
Things happen, and we often wind up in a place where we have to cover some unexpected bills. Think about submitting an application for a payday advance loan in Norton Shores, MI, to see if you qualify.
The loan process is quick and painless. To be qualified, loan borrowers have to meet a couple of simple criteria.
What is a Paycheck Advance Loan? What Can It Be Put Towards?
A paycheck advance loan is where the borrower will receive a petite amount of funds on a short-term agreement. This is considered an unsecured loan because no collateral is required.
When unexpected expenses come up, such as past due rent or utility fees, car costs, health or vet fees, and so forth, people often seek out payday advance loans.
Cash Advance Loan Criteria In Norton Shores, Michigan
In Norton Shores, Michigan, payday loan borrowers must meet several requirements to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Norton Shores, Michigan
- Must be 18 years old
- Have a steady income that they can prove that's at least $1,000 per month
- Give active contact details like cell phone number and email address
- Provide their social security number
If a borrower does not satisfy the above requirements, they will immediately be denied a payday loan. Ensure that you can provide the documentation needed when requesting a loan.
Laws and Rules Concerning Paycheck Advance Loans in Norton Shores, MI
The State of Michigan has deemed paycheck advance lending legal. Still, they have put forth the below rules and laws for the payday advance lending market:
- A single money lender cannot offer a loan in excess of $600. Borrowers cannot take out greater than two outstanding loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the maximum loan term length is 31 days. In the State of Michigan, borrowers may not rollover their loans.
- The fees and charges vary for each money lender. The service costs charged by the lender on a payday loan are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Norton Shores, MI, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will perform a credit check on you, still, even if you have no credit or poor credit, you may still be approved for a loan given that you can prove that you can repay the loan. Lenders are typically unconcerned about your credit history if you offer proof of income and a strategy to pay back the loan.
Lenders will perform a soft credit inquiry, which will not impact your credit score. This is only to get a feel of your credit history and general information.
A hard credit check, alternatively, requires your permission. These credit checks are done for a variety of purposes, including mortgages, credit card applications, and more.
You may still be approved for a cash advance loan with imperfect credit in Norton Shores, Michigan, if you have proof of repayment.
Therefore, when you apply, whether it is in person or online, ensure that you have your income information available and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely your loan request will be granted.
When Will I Get My Money in Norton Shores, Michigan?
When you receive your money really depends on the lender as some lenders advertise same-day paycheck advance loans, which means you will receive your payday advance loan on the same day you submit your application, as long as you receive an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Therefore, if you apply on a Friday, you might not receive your cash until Monday.
If you're needing a same-day paycheck advance loan in Norton Shores, MI, you will need to ensure you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will increase the likelihood that you get your money on the day that you apply.
One more consideration that you should be aware of is even if the lender approves your application and posts the deposit to your bank, occasionally the bank won't release that funds immediately. It's important to let your bank know that you plan to get a cash advance loan, so they could possibly make an exception in releasing the funds earlier.
On the whole, it's best to prepare in advance to receive cash on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From Us
If you have less than great credit or no credit and are needing to get a paycheck advance loan, consider applying with us, as you usually have a better chance of approval.
We work with hundreds of different lenders who provide their services online. Often you will see your money on the next business day so ensure that you plan correctly.
However, you can always find the nearest paycheck advance loan storefront to you and apply in person to strengthen the chances of receiving your cash on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest payday advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Norton Shores, MI
Below you will find a list of payday loan companies offering their services in Norton Shores, Michigan. If you can't find a lender near your location in Norton Shores, 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 Norton Shores, 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.