Small Loan Example
Loan Amount : 1500
17 x 120 = 2040
Repayments x Per Week = Total Repayment
Loan Length : 114 days.
For the above example the APR is 115.26%.
The Short term lending industry is highly regulated and Responsible Lending is a legal obligation for all the providers. Responsible Lending also makes good business sense as every Lender wishes to have loans repaid on time and without any hardship to the customer.
There are different names for short term loans: Quick Loans, Cash Loans, Personal Loans, Cash Advance Loans, Unsecured Loans, Quick Cash Loans, Bad Credit Loans.