Rates and Fees
Our website offers a free service that allows you to submit a loan inquiry without any costs. We do not provide lending services directly to consumers, but we have an automated system that searches our vast network of lenders to match you with the ones that best fit your needs. If you agree to an offer, you can review the lender’s terms and submit your application to that specific lender.
When applying for a loan, the Rates and Fees you will encounter depend on several factors such as the lender, the state, the product type, and the associated risk level. It is your responsibility to carefully review and compare the Rates and Fees proposed by different lenders. Our website’s goal is to help you efficiently evaluate the information presented by lenders.
Full Disclosure of Terms
Once a lender approves your loan application, they will provide you with an e-signature page where you can review the loan fees and interest rates as required by the Truth in Lending Act. The lender’s documents should include all the rates and fees information relevant to the loan. Make sure to thoroughly review all the fees and rates before agreeing to the loan terms and e-signing the contract. You are under no obligation to accept the lender’s terms, but if you do, e-sign the page and await the transfer of your funds.
Understanding APR and Its Calculation
APR, or Annual Percentage Rate, is the annual cost of a loan, which includes fees and interest rates. It is calculated by dividing the total fees and interest paid over the loan term by the loan amount and the number of days in the loan term, then multiplying by 365. Lenders determine the loan fees and interest rates based on the information you provide, and they can vary among lenders. You are not obligated to proceed with a loan application if you find the terms unacceptable.
The Average APRs in Different States
Short-term loans are subject to federal and local regulations, resulting in varying costs across the USA. APRs also vary among lenders due to the additional fees included in the calculation. The table below presents the average APRs for short-term loans in different states.
| Ohio | 677% | Nebraska | 460% | Indiana | 382% |
| Texas | 662% | Kentucky | 460% | Michigan | 369% |
| Utah | 658% | Hawaii | 460% | Iowa | 337% |
| Nevada | 652% | California | 460% | Florida | 304% |
| Idaho | 652% | Alabama | 456% | Wyoming | 261% |
| Virginia | 601% | Missouri | 443% | Rhode Island | 261% |
| Wisconsin | 574% | Alaska | 435% | Maine | 217% |
| Mississippi | 521% | Illinois | 404% | Colorado | 214% |
| Delaware | 521% | Oklahoma | 395% | Minnesota | 200% |
| North Dakota | 487% | Washington | 391% | New Mexico | 175% |
| Tennessee | 460% | South Carolina | 391% | Oregon | 154% |
| Montana | 36% | Louisiana | 391% | Kansas | 391% |
| – | – | South Dakota | 36% | New Hampshire | 36% |
However, keep in mind that each lender might have its own pricing policy, and can offer higher or lower than average APRs. Thus, it is your responsibility to compare and analyze the offers you receive.
Fees and Charges
Aside from interest rates, payday loans can incur additional fees and charges that add to their cost. These include Late Payment Fees and Charges, Non-Payment Fees and Charges, and Loan Renewal Fees and Charges.
Late Payment Fees and Charges
Lenders have varying policies on late payments, but they must disclose this information to you during the loan process. Read the late payment conditions in the lender’s documents carefully. All lenders are obligated to follow applicable laws, rules, and regulations on late payment fees.
Non-Payment Fees and Charges
If you cannot repay your loan, you may be subject to additional fees or charges. Our website works only with reputable lenders who conduct fair and reasonable collection activities.
Loan Renewal Fees and Charges
Loan renewal conditions depend on state regulations, and some states allow rollovers and/or repayment extensions. These can incur fees and finance charges that significantly increase your loan’s end cost. Be aware of your state’s laws and regulations governing rollovers and extensions. Make sure you fully understand the terms in the lender agreement before e-signing the loan contract.
Our Lending Policy
Our website’s lending partners are expected to adhere to strict lending standards aligned with our core values and mission.The Federal Trade Commission and the Consumer Financial Protection Bureau regulate the industry and ensure fair treatment of consumers.