APR INFORMATION

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.
RESPONSIBLE BORROWING

We strive to connect consumers with a long-term financial solution and adhere to the OLA Responsible Lending Policy. Short-term credit should not be used as a long-term financial solution. New monthly credit payments should only be utilized when you're spending is less than your monthly income. The additional credit also should not take away from the amount of money you've committed to saving. If you abuse your borrowing rights, you can damage your personal finances, and incur additional fees. Avoid creating a cycle of debt by following responsible borrowing practices and seek credit counseling if you need help managing your credit difficulties.
IF YOU CAN'T REPAY YOUR LOAN

If an unforseen circumstance occurs and you can't repay your loan as agreed, your lender may charge you late fees, report your payment history to a credit-reporting agency, or provide an extension or loan renewal option. This may negatively impact your credit score or allow your account to fall into collection. Loan renewals or refinancing options may include additional fees.

Collection Practices: In the event of non-payment, your loan account may be sent to collection agencies. Collection practices vary by lender and will be provided in your loan agreement.

Fees, Interest and other Implications: Missed or late payments may result in additional fees and higher interest rates. Please review the financial implications of late and non-payment carefully with your lender before taking out a loan.

Credit Score Impact: Missed or late payments may be reported to credit bureaus and may negatively affect your credit and lower your credit score. Review your lender's credit reporting policies before signing for your loan.

Loan Renewal Policies: For missed, partial, or late payments, loan renewals and extensions may be offered by your lender. The loan renewals may be automatic, and typically include renewal fees. Renewal restrictions are subject to state laws and your lender's repayment policies.

We are not a lender, and only your loan provider can offer specific repayment options and details if you can't repay your loan on time. You can ask your lender for non-payment implications at any point during the loan process.