Fees

Expected Fees

$300 - $2,000

  • Establishment fee:
    20% of the principal amount
  • Monthly loan fee:
    4% of the principal a month

So if you borrow

$1500 you will pay $300 and $60 per month (Annual Percentage Rate (APR): 48% Comparison rate of 68% per year)

$2001 - $5,000

  • Establishment fee: $400
  • Annual Percentage Rate (APR): 47.6158% Comparison rate: 65.6597% p.a.

If you don't make a payment then the cost is $15 each time and daily default fee of $15 per day!

The short term lenders can not renew loans by rolling them over or by refinancing the loan, and therefore they don't charge renewal fees.