Annual percentage rate (APR)
The APR on the amount borrowed from the lender is 28 to 32%.With a transaction fee of $ 0.50, the total interest rate can reach 34.4%.
For example, a loan of $500 including all the fees and interest will result in a reimbursement of about $750.
Our loyal customers can renew after a grace period to give them time to complete a previous loan before the beginning of payment cycles of their new loan.
Pay off your loan over a period of 90 to 120 days depending on your payroll frequency.
You can repay your loan faster by making higher payments if you so choose. You would then save on interest.
Missed payments and credit rating
Any missed payment will be postponed to the end of your contract. This will have no impact on your credit score at our business. If you need to postpone a payment, you must call 48 hours in advance and it will be added to the end of your contract by one of our agents. Loans repaid properly show good will and make the renewal of your loan hassle-free.
Our company uses responsible collection practices. If you fail to make your payments, our collection agents may terminate your payment plan and use different methods to recover the money owed. Payments that are terminated will accumulate interest on the outstanding balance of your loan. The borrower is responsible for all legal fees required to obtain the balance due. The uncollected debts are prosecuted to the fullest extent of the law.
Responsible Loan Policy
All applications are subject to a screening process in order to ensure that the borrower has sufficient income to repay the loan. This includes but is not limited to: checking that your monthly salary is sufficient to repay the loan and qualifies for such a loan; that you do not have an excessive amount of insufficient funds for expenses in your bank account; that you do not have an excessive amount of pre-authorized payments charged to your bank account that can interfere with your ability to pay your loan on time. If you encounter any of these criteria, your loan application will be denied.
Please borrow responsibly. We offer a way to help you during difficult times. However, the interest rate is higher than the rate of local banks. These loans should only be taken out when you do not have other options for financial assistance, and should be used as seldom as possible. If contracted responsibly, this loan can prove to be the right solution for you. However, getting together a large number of short-term loans could lead to serious financial problems and debt impossible to bear.