LoanSolo. com is unable to supply you with an exact APR (Annual Percentage Rate) that you will be charged if you are approved for a loan. APRs depend on multiple factors, including the lenders requirements and offers, your credit worthiness, your state of residence, and the type and term of the loan you request.
You will be given the details on the APR, loan fees, and other terms by your lender when you are redirected to your loan agreement during the loan request process. The APR on a short term loan can range from 200 to 2,290 depending on how the APR is calculated (nominal vs. effective), the duration of the loan, loan fees incurred, late payment fees, non-payment fees, loan renewal actions, and other factors.
Keep in mind that the APR range is not your finance charge and your finance charge will be disclosed later on. See a Representative Example. Borrow 200 for 14 days with a 30 to 60 lender fee. Your estimated APR is 391 to 782 Calculation: (lender fee loan amount) x (amount of days in a year duration of the loan) x 100 Low End of Quick loan pawn shop lucena city (30 200) (365 days 14 days) x 100 391.
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The loan interest rates are determined solely by your lender, with specific amounts determined based upon the information you submitted to the lender. Your lender provides the APR, loan fees, and other terms. For help in understanding and using our services, consumers may refer to the Questions section or Contact Us. The APR on a short-term loan can vary greatly depending on how the APR quick loan pawn shop lucena city calculated (nominal vs.
effective), the duration of the loan, loan fees incurred, late payment fees, non-payment fees, loan renewal actions, and other factors. Keep in mind that the APR range is not your finance charge and your finance charge will be disclosed later on, if applicable. See a See a Representative Example.
Otherwise, you would have to face rejection because of incorrect information. So make sure your contact information and documents are complete because if there is one detail missing, then the loan application is rejected. What to do if you have a bad credit history?If you are in urgent need of money and you are worried about getting a loan because you have bad credit, then you can set your worries aside.
Fortunately, most lenders do not perform a credit check when you apply for a loan. Your credit history, no matter how it is, will not affect your chances of being approved for payday loans from direct lender.
h2What are the drawbacks?Payday loans have high interest rates as they carry more risk for the lender.