The maximum amount that may be borrowed via a single payday lender by a citizen of Michigan is $600. On the other hand, you can take out two loans from every two different lenders. A maximum of thirty-one days’ interest may be charged on loans. You should expect to spend between 15% and 11% on financing and interest fees for every $100 you borrow. This fee might range anywhere from the minimum to the maximum. It is against the law to engage in criminal behavior against a borrower.