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Current Payday Lenders in Michigan – Terms, Rates, Legislation

When you have emergency expenses and you receive your next paycheck in a few weeks, a payday loan could be very helpful. Payday loans are small-dollar, short-term loans that give you speedy access to cash when you need it. Read on to find out how the payday lending laws in Michigan work.

The list of payday loan lenders in Michigan

Check `n Go

Check ‘n Go is one of the most popular lenders that works in many states, including in Michigan. The lender has over 1,000 locations all across the United States and also issues loans online. It offers short-term payday loans, installment loans, cash advances, check cashing and more.

  • Website:
  • Phone number: (800) 561-2274
  • Address: 6576 Old Winter Garden Rd. Orlando FL

Check Into Cash

Check Into Cash is a national lender that offers  multiple short-term loan options. The company provides quick cash advances, online payday loans, and more.

  • Website:
  • Phone number: (423) 479-2400
  • Address: 5430 Dogwood Dr, Milton, FL 32570
  • Email:

First Federal

First Federal is a loan connection service that works by matching the potential borrower with the right lender from their extensive network of reputable lenders. With First Federal, you can get access to fast cash 24/7 even if you have bad credit. It offers small loans and instant funding. If approved, you should expect to have the funds in your checking account within 24 business hours or even the same day you apply.

  • Address: 8811 Greenfield Rd, Detroit, MI 48228
  • Website:
  • Phone number: +1 (888) 612-5903
  • Email:


NHCash is another trusted lender that offers online loans across the USA. There is no minimum credit requirement, and you may be able to receive a loan the same day you apply.

  • Address: 169 South River Road, Suite #19 Bedford, New Hampshire, 03110
  • Phone: 1-888-NHCASH0
  • Text: 1.888.642.2740
  • Fax: 1-855-871-1230
  • Email:
  • Website:


Capital Bean offers a loan connection service for Americans. The company offers a fast way and easy way to borrow money online in multiple states.

  • Website:
  • Phone number: 1-855-884-6520
  • Address: 7073 Cedarwood Dr. Los Angeles, CA 90006, United States
  • Email:

Advance America

Advance America is a lender that offers payday loans, installment loans, title loans and lines of credit. The lender has online and in-store services in 27 states and delivers the loans you qualify for within 24 hours.

  • Address: 4142 W 167th St Ste 6, Oak Forest, IL
  • Phone: 1 877 505 0701
  • Website:

Snappy Payday Loans

Snappy Payday Loans is an online marketplace matching potential borrowers with reputable payday lenders, allowing you access to the short-term loans you need.

  • Address: 398 Dania Beach Blvd #468 Dania Beach, FL 33004
  • Phone: (844) 390-0450
  • Email:
  • Website:


Pheabs is an online loan connection platform, helping borrowers across the United States find the right lender for their financial needs.

  • Phone: 1-(855)-884-6510
  • Address: 515 E Las Olas Boulevard, Suite 120, Fort Lauderdale, FL 33301
  • Email:
  • Website:

Payday Champion

Payday Champion is a well-known online lender that has been offering installment and payday loans for over 10 years. They also work with people having less than perfect credit scores. Their payday loans are mostly used to pay off an emergency.

  • Tel: +1 800-456-3496
  • Email:
  • Address: 412 Main St. #420. Houston, TX 77002
  • Website:


MayBeLoan is a popular and trusted online platform that helps consumers get various types of loans, including small-dollar payday loans.

  • Website:
  • Address: 901 Travis St, Houston, TX, USA
  • Email:


MoneyZap is a safe and secure platform to borrow cash online. The company cooperates only with reputable and licensed direct lenders. You could be approved instantly.

  • Phone: (601) 207-9833
  • Address: 2891 Terry Rd, Jackson, MS 39212, USA
  • Email:
  • Website:

Are payday loans legal in Michigan?

Payday loans are considered legal in the state of Michigan. Payday lending in the state has been regulated by the Deferred Presentment Transaction Act since 2005. The Act limits repayment terms, principal amounts, and finance charges for payday loans, but payday loans are still very expensive.

There are also certain limitations regarding payday lenders. They must comply with the law if they want to do business in the state.

For instance, the Deferred Presentment Transaction Act requires that a lender provided borrowers with a written contract to sign. The document should specify all the details, including fees, APRs, repayment terms and due dates. The contract should also disclose all consumer rights.

Loan terms, debt limits, and collection limits in Michigan

  • Is Payday Lending Legal? Yes
  • Maximum Loan Amount: $600
  • Minimum Loan Amount: Not determined
  • Maximum Loan Term: 31 days
  • Minimum Loan Term: Not determined
  • Interest Rate (APR): 369%
  • Rollovers: Not allowed
  • Number of Outstanding Loans Allowed: Two from different lenders
  • Finance Charges: 11-15%
  • Statute of Limitations: 6 years
  • Database Loan Tracking: Yes

Rates, fees, and other charge limits in Michigan

Michigan payday lenders are allowed to charge fees based on the loan amount. These charges can’t be over the following amounts:

  • 15% of the first $100 you borrow
  • 14% for the second $100 you borrow
  • 13% for the third $10 you borrow
  • 12% for the fourth $100 you borrow
  • 11% for the fifth and sixth $100 you borrow

Let’s say, say you borrow $600. Your payday lender is allowed to charge you no more than $76 total in service fees. If you take out two payday loans for $300, you shod expect to pay $42 for each loan.

A lender may also charge a small database verification fee, but it’s typically very small. Many lenders charge a $0.61 verification fee.

If you do not repay your payday loan by the due date, your lender can charge a $25 NSF fee.

Am I eligible for a payday loan in Michigan?

Before you apply for a payday loan, you should consider whether you meet the requirements set by most lenders. There are four key eligibility criteria you must comply with:

  1. You must be a U.S. resident.
  2. You must be at least 18 years of age.
  3. You need to have a permanent income and earn at least $800 per month.
  4. You must have an active and valid checking account in your name.

Maximum loan amount in Michigan

The maximum payday loan amount in the state is $600, regardless of whether you have a single loan or multiple. You can take out no more than 2 payday loans at a time, though they must be from different providers.

The maximum term for a payday loan in Michigan

The maximum loan term for payday loans in Michigan is 31 days. There’s no required minimum, but a two-week term is the standard anyway.

The Michigan payday loan laws also include provisions for a repayment plan if a borrower takes out eight or more payday loans in 12 months.

The borrower has to request it within 30 days of failing to pay their loan and pay a fee of $15, adjusted annually for inflation. The repayment plan must have three equal installments in line with the borrower’s paycheck dates.

What is the statute of limitations on a payday loan in Michigan?

Statutes of limitations are laws that specify how much time a person has to file a lawsuit against a company or an individual. In the case of payday loans, it’s the period of time that lenders have to sue borrowers for their unpaid debts.

The statute of limitations for payday loans in Michigan is six years.

Where in Michigan can payday lenders operate?

Payday lenders can issue loans from anywhere in the state of Michigan, both in-store or online. Cities include but are not limited to:

  • Ann Arbor
  • Adrian
  • Alpena
  • Auburn Hills
  • Battle Creek
  • Bay City
  • Benton Harbor
  • Davison
  • Dearbom
  • Detroit
  • Farmington Hills
  • Flint
  • Frankenmuth
  • Grand Haven
  • Grand Rapids
  • Kalamazoo
  • Lansing
  • Lapeer
  • Livonia
  • Ludington
  • Muskegon
  • Northville
  • Novi
  • Petoskey
  • Port Huron
  • Saginaw
  • Southfield
  • South Haven
  • Sterling Heights
  • Royal Oak
  • Traverse City
  • Warren
  • Westland

What can payday lenders do if borrowers cannot repay their loans?

If you are unable to pay off your payday loan on time, the lender can charge extra fees. For example, a lender can request an installment repayment plan and charge $15 for this service. You can also be charged a $25 insufficient funds fee if you default on your loan repayment.

If you take out a payday loan, you are obliged to make payments on time. If you violate the loan agreement, you could be subject to collection actions from the lender. So if you decide to apply for a payday loan, you must think twice about whether you can afford it.


Michigan Department of Insurance and Financial Services

  • Address: 530 W. Allegan Street, 7th Floor, Lansing, Michigan, 48933
  • Phone: 517-284-8819
  • Fax: 517-284-8837
  • Link to website: