We are not a lender and do not provide short term loans. We provide a loan finding service by connecting Consumers looking for loans with lenders who may provide such loans. Only your lender can provide you with information about your specific loan terms including APR, fees, charges, and repayment period. Ask your lender for their current rates, fees, charges, and policies for non-payment.
The Annual Percentage Rate, or APR, refers to the total cost of a loan on a yearly basis. It takes into consideration the interest rate, the costs and fees associated with the loan as well as the repayment terms. If a lender had no fees whatsoever other than the interest charged on the loan, the APR and the interest rate would be the same. Because APR is an annual calculation, it appears very high when applied to short-term loans that are intended to be repaid over a number of weeks or a few months.
Representative APRs associated with short-term loans from lenders participating in our network typically range from 260.71% to 1825.00%. APRs vary according to the information supplied in your loan request and each lender’s policies, rates, and terms.
Lenders are required by law to disclose the APR to consumers before a consumer loan can be issued. All financial terms of your loan, including APR, fees, charges, and repayment period, will be provided to you by your lender and may vary by lender, state, and your individual creditworthiness.
Good News! Borrowers may qualify for installment loans and personal loans at lesser rates than short-term loans. Most consumers who have applied through our service have only qualified for a short-term loan product.
Penalties Based on Late Payments or Non-Payment
Late payment or non-payment of loans may result in additional fees or collection activities, or both. Each lender has their own terms and conditions and you should review your lender’s policies for further information. Lenders understand that unforeseen circumstances may come up. Unexpected life changes such as unemployment or illness can make meeting payment schedules extremely challenging. Your lender may be able to work with you through this difficult time. Contact your lender regarding your situation; they may be able to work with you to create a new repayment schedule or an option to “renew” or “refinance” your loan. Every lender has their own renewal or refinancing policy, and these policies differ from lender to lender. You should review your lender’s renewal policy.