Across the beautiful state of Michigan (and continuing on through the rest of the country), more and more people are finding it harder to make ends meet and are forced to live from paycheck to paycheck. This is the primary reasons for the recent popularity of cash advance and payday loans.

Cash advance loans are small (usually under $1000), single payment loans that are written for a very short period of time (under one month). They can come in handy in the unfortunate event of an unexpected financial emergency.

Let’s say that you realized the two rear tires on your rear-wheel drive car are bald. You know that it’s very unsafe to drive for you, your passengers, and anyone else driving on the same road as you. You won’t be receiving your paycheck until next Thursday, and that’s when you will have the extra money to pay for the new tires. What can you do?

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This is a prime example of a cash advance situation. By simply contacting a payday lender, you can have the money you need quickly without pulling your credit. Cash advance lenders utilize your paycheck instead of your credit report to decide how much of a loan you’re entitled to.

Michigan has some laws regarding the payday loan industry to protect all involved parties:

The loan period cannot exceed 31 days.
Assessed fees, in addition to a database verification fee, cannot be more than:
- 15% of the first $100 (or $15 for $100);
- 14% from $101 - $200 ($14 for the next $100);
- 13% from $201- $300 ($13 for the next $100);
- 12% from $301-$400 ($12 for the next $100); and
- 11% for $401-$600 ($11 for the next two $100 increments).
No rollovers allowed (refinancing one cash advance with another).
Only one loan may be out at a time with one lender; two loans total.

Apply for a Michigan Quick Cash Advance and get up to $600 NOW >>

* Cash-Advance-USA.org provides information and research on cash advances/payday loans. We are not a payday lender or broker, nor are we necessarily affiliated with the companies profiled on this site. Not all products and services are available in each state.