Payday Loans in Saginaw, Michigan

Events happen, and we usually find ourselves in a place where we have to pay for some unexpected expenses. Think about applying for a paycheck advance loan in Saginaw, Michigan, to see if you qualify.

The application process is fast and simple. To be qualified, you have to meet a couple of straightforward criteria.

What is a Payday Loan? What Can It Pay For?

A payday loan is where the borrower will get a petite sum of money on a short-term agreement. This is considered an unsecured personal loan because no collateral is expected.

When unforeseen costs come up, such as late rent or utility bills, vehicle costs, health or vet expenditures, and so on, people frequently turn to cash advance loans.

Payday Loan Criteria In Saginaw, MI

In Saginaw, MI, cash advance loan borrowers need to meet a few criteria to qualify for a loan.

The borrower is required to:

• Show proof that they are a resident of Saginaw, MI
• Must be at least 18
• Have an income that they can prove that's at least $1,000/month
• Provide up-to-date contact information including cell phone number and email address
• Provide their social security number

If a borrower does not satisfy the above rules, they will immediately be denied a cash advance loan. Make sure you possess the documentation required when applying.

Laws and Regulations Concerning Payday Advance Loans in Saginaw, Michigan

The State of Michigan has deemed cash advance lending legal. Still, they have created the below rules and laws for the payday advance lending market:

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

Will Payday Lenders in Saginaw, Michigan, Run Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we partner with will do a credit check on you, still, even if you have no credit or poor credit, you might still be approved for a loan as long as you can prove that you are able to pay back the loan. Lenders are usually unbothered by your credit history if you have proof of income and a strategy to pay back the loan.

Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is solely to get an idea of your credit history and basic information.

A hard credit inquiry, on the other hand, must have your explicit consent. These credit inquiries are utilized for various purposes, such as mortgages, credit cards, and more.

You can still be approved for a payday loan with poor credit in Saginaw, MI, if you have proof of repayment.

So, when you request a loan, albeit in person or online, ensure that you have your income information available and any other documents showing that you can repay the loan. The more evidence you show, the more likely you are to be approved.

When Will I Get My Deposit in Saginaw, MI?

When you receive your money actually depends on your lender as some lenders provide same-day paycheck advance loans, which means you will get your payday loan on the same day you request a loan, as long as you're approved.

Much of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. So, if you apply on a Friday, you may not receive your loan until Monday.

If you're looking for a same-day paycheck advance loan in Saginaw, Michigan, you will need to be sure that you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should submit an application 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 even if the lender grants your loan request and posts the credit to your bank account, occasionally the bank won't release that credit right away. 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 deposit earlier.

On the whole, it's wise to prepare in advance to get your funds on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.

Think About Borrowing From Us

If you have underwhelming credit or no credit and are needing to get a payday loan, consider applying with us, as you usually have a better chance of approval.

We partner with more than one hundred different lenders who offer their services online. Most of the time you will see your loan on the following business day so make sure that you plan accordingly.

However, you can always locate the closest paycheck advance loan storefront to you and apply in person to increase the chances of receiving your loan 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 require proof of address, so bring a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Saginaw, MI

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