Installment Loans:
Finance Charges:
You will pay 40% per month of the principal balance with a payment due every two weeks.
Below are examples that demonstrate how finance charges are imposed on our loans. In the first example, the customer takes out a $100 loan and will be required to pay 6 payments of $27.61 every two weeks. The second example, the customer takes out a loan for $500, the customer makes 5 payments of $138.04 every two weeks and a final payment of $138.10.
|
ADVANCE AMOUNT (Amount Finance) |
FINANCE CHARGE (cost of loan) |
TOTAL PAYMENT |
APR* (loan term 80 days) |
|
$100.00 |
$65.66 |
165.66 |
478.71% |
|
$500 |
$328.30 |
828.3 |
478.68% |
CUSTOMERS ARE ENCOURAGED TO PAY MORE THAN THE MINIMUM PAYMENT AMOUNT TO REDUCE INTEREST COSTS
A CASH ADVANCE CAH BE EXPENSIVE. CASH ADVANCES ARE NOT RECOMMENDED AS A LONG TERM FINANCIAL SOLUTION.