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Michigan Payday Loan

A payday loan is a short-term loan, usually used to take care of emergency expenses. It is generally repaid on or around the date of the borrower's next paycheck.

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Rates & Terms

Loan Amount

Up to $600

Loan Term

8 – 31 days

Fees

$0.61 flat fee per loan, plus:

  • $15 for the first $100
  • $14 per $100 for additional amount $101 – $200
  • $13 per $100 for additional amount $201 – $300
  • $12 per $100 for additional amount $301 – $400
  • $11 per $100 for additional amount $401 – $600

Actual loan terms may vary based on applicant's qualifications. Your loan will be due on your next payday that falls between 8 to 31 days away. If your pay dates fall outside of this range, your loan will be due in 14 days. If you are paid by paper check, we will give you a grace period of one day to deposit your check.

How It Works

  1. Apply online in minutes.

  2. Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documents like paystubs or other proof of income.

  3. Apply early and receive funds as soon as the same business day, if approved.

  4. Repay on your scheduled due date. You are free to repay early at any time with no penalty.

Fee Schedule and Annual Percentage Rate

Your loan fees will be a flat, non-refundable fee of $0.61 per loan, plus $15 for the first $100, $14 per $100 for the additional amount between $101 – $200, $13 per $100 for the additional amount between $201 – $300, $12 per $100 for the additional amount between $301 – $400 and $11 per $100 for the additional amount between $401 – $600. This translates to different annual percentage rates depending on your loan term. You can use the table below to see the cost and annual percentage rate of different amounts repaid over different periods.

CashNetUSA will charge a non-sufficient funds fee (NSF) of $25 one time per loan if you do not have enough funds in your account at the time your loan payment is due.

Repayment Period:

Finance Charge:

APR:

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61
$15.61

183.80%
189.92%
196.47%
203.49%
211.02%
219.14%
227.91%
237.40%
247.72%
258.98%
271.32%
284.88%
299.88%
316.54%
335.16%
356.10%
379.84%
406.98%
438.28%
474.80%
517.97%
569.77%
633.07%
712.21%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61
$22.61

177.48%
183.39%
189.72%
196.49%
203.77%
211.61%
220.07%
229.24%
239.21%
250.08%
261.99%
275.09%
289.57%
305.65%
323.63%
343.86%
366.78%
392.98%
423.21%
458.48%
500.16%
550.18%
611.31%
687.72%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61
$29.61

174.32%
180.13%
186.34%
192.99%
200.14%
207.84%
216.15%
225.16%
234.95%
245.63%
257.33%
270.19%
284.41%
300.21%
317.87%
337.74%
360.26%
385.99%
415.68%
450.32%
491.26%
540.38%
600.43%
675.48%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11
$36.11

170.07%
175.74%
181.80%
188.29%
195.26%
202.77%
210.88%
219.67%
229.22%
239.64%
251.05%
263.60%
277.48%
292.89%
310.12%
329.50%
351.47%
376.58%
405.54%
439.34%
479.28%
527.21%
585.78%
659.01%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61
$42.61

167.23%
172.81%
178.77%
185.15%
192.01%
199.39%
207.37%
216.01%
225.40%
235.65%
246.87%
259.21%
272.85%
288.01%
304.95%
324.01%
345.61%
370.30%
398.79%
432.02%
471.29%
518.42%
576.02%
648.03%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61
$48.61

163.53%
168.98%
174.80%
181.05%
187.75%
194.97%
202.77%
211.22%
220.41%
230.42%
241.40%
253.47%
266.81%
281.63%
298.20%
316.83%
337.96%
362.09%
389.95%
422.44%
460.85%
506.93%
563.26%
633.67%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61
$54.61

160.75%
166.11%
171.83%
177.97%
184.56%
191.66%
199.33%
207.63%
216.66%
226.51%
237.29%
249.16%
262.27%
276.84%
293.13%
311.45%
332.21%
355.94%
383.32%
415.26%
453.01%
498.32%
553.68%
622.90%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11
$60.11

157.28%
162.52%
168.12%
174.13%
180.58%
187.52%
195.02%
203.15%
211.98%
221.62%
232.17%
243.78%
256.61%
270.87%
286.80%
304.72%
325.04%
348.26%
375.05%
406.30%
443.24%
487.56%
541.73%
609.45%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61
$65.61

154.50%
159.65%
165.16%
171.05%
177.39%
184.21%
191.58%
199.56%
208.24%
217.71%
228.07%
239.48%
252.08%
266.09%
281.74%
299.35%
319.30%
342.11%
368.43%
399.13%
435.41%
478.95%
532.17%
598.69%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11
$71.11

152.23%
157.30%
162.73%
168.54%
174.78%
181.50%
188.76%
196.63%
205.18%
214.51%
224.72%
235.96%
248.37%
262.17%
277.60%
294.94%
314.61%
337.08%
363.01%
393.26%
429.01%
471.91%
524.35%
589.89%

31 Days
30 Days
29 Days
28 Days
27 Days
26 Days
25 Days
24 Days
23 Days
22 Days
21 Days
20 Days
19 Days
18 Days
17 Days
16 Days
15 Days
14 Days
13 Days
12 Days
11 Days
10 Days
9 Days
8 Days

$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61
$76.61

150.34%
155.35%
160.70%
166.44%
172.61%
179.25%
186.42%
194.19%
202.63%
211.84%
221.93%
233.02%
245.29%
258.91%
274.14%
291.28%
310.70%
332.89%
358.50%
388.37%
423.68%
466.04%
517.83%
582.56%

Requirements to Apply for a CashNetUSA Loan

In order to be eligible for any CashNetUSA loan, you must meet our requirements:

18 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Governing Law

The loan agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

CashNetUSA is licensed in Michigan by the Department of Insurance and Financial Services Office of Consumer Finance.

Michigan Disclosures

MCL 487.2153(6) Disclosure

Under Michigan law, you are entitled to receive the proceeds of this transaction in cash. If you request the proceeds in a check or money order, you may be charged additional check cashing or other processing fees by others for cashing the check or money order.

MCL 487.2151 Disclosures
  1. A deferred presentment service transaction is not intended to meet long-term financial needs. We can only defer cashing your check for up to 31 days.
  2. You should use this service only to meet short-term cash needs.
  3. State law prohibits us from entering into a transaction with you if you already have a deferred presentment service agreement in effect with us or have more than one deferred presentment service agreement in effect with any other person who provides this service.
  4. If you enter into a transaction with us, we must immediately give you a copy of your signed agreement.
  5. We will pay the proceeds of a transaction to you by check, by money order, or in cash, as you request.
  6. State law entitles you to the right to cancel an agreement and receive a refund of the fee. To do this, if you enter into a transaction today, you must notify us and return the money you receive by the time this office closes tomorrow or on our next business day if we are not open tomorrow.
  7. State law prohibits us from renewing an agreement for a fee. You have to pay any other agreement in full before obtaining additional money from us.
  8. State law prohibits us from using any criminal process to collect on an agreement.
  9. State law entitles you to information regarding filing a complaint against us if you believe that we have violated the law. If you feel we are acting unlawfully, you should call the Office of Financial and Insurance Services toll-free at 1-877-999-6442.
  10. If you are unable to pay your deferred presentment service transaction and have entered into 8 deferred presentment service transactions with any licensee in any 12-month period, state law entitles you to request a repayment of that transaction in installments. We are required to advise you of this option at the time it is available. If you elect this option, you must notify us, either orally or in writing, within 30 days after the maturity date of the deferred presentment transaction. The notice must be provided to us at our place of business. You may be charged an additional fee when the transaction is rescheduled in installments. You will be ineligible to enter into a deferred presentment service transaction with any licensee during the term of the repayment plan. If we refuse to provide this option under the stipulations above, you should contact the Office of Financial and Insurance Services toll-free at 1-877-999-6442.
MCL 487.2153(3)(a)
  1. After signing this agreement, if you believe that we have violated the law, you may do 1 of the following:
    1. Before the close of business on the day you sign the agreement, notify us in person of the violation. You must provide supporting documents or other evidence of the violation.
    2. At any time before signing a new deferred presentment service agreement with us, notify us in writing of the violation. Your written notice must state the violation and provide supporting documents or other evidence of the violation.
  2. We have 3 business days to determine if we agree that we have violated the law and let you know of that determination.
  3. If we agree that we have violated the law, we must return your check and you must return the cash received under the agreement. Additionally, for each violation, we must pay you restitution equal to 5 times the amount of the fee we charged you under the agreement but not less than $15.00 or more than the face amount of your check. You may also pursue an action for your actual damages against us.
  4. If we do not agree that we have violated the law, we may present your check for payment or enter your check into the check-clearing process on or after the maturity date. If your check is returned to us unpaid, we may take other legal steps to collect our money.
  5. If you still believe we violated the law, you may file a written complaint including supporting documents or other evidence with the Office of Financial and Insurance Services. The Office is required to investigate your complaint and has the authority to order us to pay you restitution if they agree that we violated the law. In addition, the Office can order us to pay civil fines or take away our right to do business. To do so, contact the Office of Financial and Insurance Services toll-free at 1-877-999-6442.
Fee Schedule

Your loan fees will be a flat, non-refundable fee of $0.61 per loan, plus $15 for the first $100, $14 per $100 for the additional amount between $101 – $200, $13 per $100 for the additional amount between $201 – $300, $12 per $100 for the additional amount between $301 – $400 and $11 per $100 for the additional amount between $401 – $600. CashNetUSA will charge a non-sufficient funds fee (NSF) of $25 one time per loan if you do not have enough funds in your account at the time your loan payment is due.

Terms Explained

Amount Financed

This is the loan amount.

Example: Jane Smith is approved for a $400 loan. This $400 is the amount financed.

Due Date

Your due date is the date on which you must repay your loan. You may repay early with no penalty.

Example: Based on her pay schedule, Jane's loan will be due when she gets her next paycheck in 15 days.

Loan Fees/Finance Charge

These terms refer to the dollar amount your loan will cost you, in addition to the amount financed.

Example: Because she borrowed $400, Jane's loan fee/finance charge will be $54.61.

Total of Payments

This is the sum of the amount financed and the finance charge. It is the total amount you must repay.

Example: Adding together her amount financed and finance charge, Jane’s total of payments comes to $454.61.

APR

APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate.