✓ Legal & RegulatedReviewed: Aug 2025
MichiganLoan Laws & Regulations
Official regulatory reference for borrowers and lenders in Michigan. Includes permitted loan types, APR caps, lender licensing requirements, borrower rights, and government source links.
Max Loan
$600
Typical APR
369% APR
Max Term
31 days
Legal Status
Legal & Regulated
Michigan Lending Regulator
The Michigan DIFS oversees consumer lending in Michigan, including licensing, enforcement, and consumer complaint resolution. Before borrowing from any lender, verify their license using the official regulator lookup tool linked above.
Regulatory Details
Detailed regulatory data for Michigan is sourced directly from the Michigan DIFS. For the most current requirements, visit: https://www.michigan.gov/difs
Current Overview
Michigan borrowers can access tiered loan amounts up to $600. Our lenders in Detroit, Grand Rapids, and beyond offer immediate decisions.
Legal Status: Legal & Regulated · APR Range: 369% APR · Max Amount: $600
Michigan Lending FAQ
Are payday loans legal in Michigan?▼
Yes. Payday loans are legal and regulated in Michigan under the oversight of the Michigan DIFS. Current APR range: 369% APR. Maximum loan: $600.
What is the maximum payday loan I can get in Michigan?▼
The maximum short-term loan amount in Michigan is $600. A $600 loan for 14 days in MI costs approximately $76 in total fees. Representative APR: 369%.
Who regulates payday lenders in Michigan?▼
The Michigan DIFS is the primary state regulator. You can verify any lender's license at https://www.michigan.gov/difs. Unlicensed lenders operating in Michigan are illegal — always verify before borrowing.
What are the alternatives to payday loans in Michigan?▼
Consider credit union PAL (Payday Alternative Loan) programs, licensed personal loan lenders, or non-profit credit counseling services in Michigan.