Rates & Fees
Submitting your inquiry for a loan at ShortEasyLoans.com incurs absolutely no cost.
ShortEasyLoans.com is not a lender and does not provide lending services directly
to consumers. Based on the information you submit, ShortEasyLoans.com searches its
database housing its vast network of lenders to pair you with the lender and loan
that may be suited to your needs so that you can submit an application directly
to the lender.
The Truth in Lending Act requires full disclosure of all loan fees and interest
rates that borrowers may incur. All fees and rate information should be disclosed
to you by your lender at the time of approval. Upon the conclusion of lender approval,
most lenders will direct you to an e-signature page. This page is provided to you
by the lender to which you were matched.
Full Disclosure of Terms
The lender provides documents that contain all fees and rate information pertaining
to the loan being offered to you by the lender. Please review the fee and rate information
provided to you by your lender at this time thoroughly and completely before agreeing
to the terms of the loan. You are under no obligation to accept these terms. If
you decide the loan terms detailed in the lender contract are acceptable and wish
to proceed with the loan process, e-sign the page and await transfer of your funds.
The loan fees and interest rates are determined solely by your lender, with specific
amounts determined based upon the information you submitted to the lender. ShortEasyLoans.com
has no control or knowledge of the loan details between you and your lender. You
are under no obligation to continue with the application process if you find a particular
lender’s loan terms unsuitable.
Late Payment Policy
Cash advance lenders have varying policies regarding late payments. Review the late
payment policy detailed in the loan documents provided to you by your lender before
appending your e-signature, and thereby agreeing to the loan terms. All lenders,
however, must abide by applicable laws, rules, and regulations regarding late payment
fees. Select your state from the list below to review the laws and regulations governing
late payments by a particular state.
Non-payment Policy
Additional fees or charges may apply to you in the event that you are unable to
repay your loan. ShortEasyLoans.com uses commercially reasonable efforts to work
only with reputable lenders dedicated to pursuing collections of past due accounts
with conduct that is fair and reasonable. Find your state in the list down below
to review the legal repercussions applicable to you in the case of non-payment.
Loan Renewal Policy
Loan renewal policies are largely governed by state regulatory legislation. In states
where rollovers, or repayment term extensions, are allowed, interest rates, along
with any late fees that may be assessed, can add a substantial dollar amount to
the end price of your loan. Find your state’s laws and regulations governing rollovers
and extensions from among the list down below. Read the lender’s terms in full regarding
loan renewal options before signing the loan contract.
State Rate & Fee Regulations
Find your state to review the applicable laws and regulations governing cash advance
loan rates and fees in your state:
State: | Max Loan Amount | Charges: |
---|---|---|
Alabama |
$500 |
This should not exceed 17.5% of the amount. Also $10 fee for every loan request |
Alaska |
$500 |
A lender is only allowed to charge what is known as a nonrefundable originating |
Arizona |
N/A |
Shouldn’t exceed the 36% of its annual fees. Repayment of past due fees is |
Arkansas |
N/A |
Around a 36% annual fee. This will depend on the Federal Reserve Discount Rate |
California |
$300 |
A business cannot go beyond a 15% deferred deposit transaction fee of an amount |
Colorado |
$500 |
The documentation fees is allowed a maximum of $75. $7.50 is the max maintenance |
Connecticut |
N/A |
The interest shouldn’t exceed 30.3%. Late fee is also applicable. |
Delaware |
$500 |
Cash advances of a total of $1000 is allowed at one time. The fee attached |
District of Columbia |
Loans which are Prohibited |
The law does not always change. However, keep checking back to ShortEasyLoans.com |
Florida |
$500 |
A deferred provider or even an affiliate is not allowed to charge fees over |
Georgia |
Loans prohibited |
The law does change. Please check back to ShortEasyLoans.com for up to date |
Hawaii |
$600 |
Fees shouldn’t be more than 15% of the amount. The lender is allowed 17.65% |
Idaho |
$1000 |
None |
Illinois |
Either 22.5% or $1000 of a person’s monthly gross income, depending |
Lender is not allowed to charge over $15.50 for every $100 with a yearly fee |
Indiana |
$500 / 20you’re your monthly gross income depending on which |
The lender can charge 15% finance charge on $250. Loans over $250 but less |
Iowa |
$500 |
On the first $100 loan the lender cannot charge over $15 in fees. Then there |
Kansas |
$500 |
Lenders can charge 15% on a cash loan. Another 15% can be charged in the way |
Kentucky |
$500 charge applied to all payday loans. |
The total amount in proceeds received from a customer from all differed deposits |
Louisiana |
$350 |
$5 is the originating fee. 16.75% or $45 depending on which is less is the |
Maine |
N/A |
For loans under $250 the interest fee is limited to just $15 but up to around |
Maryland |
N/A |
No licensed check cashing company is allowed to indirectly or directly charge |
Michigan |
$600 |
A lender is allowed to charge a service fee for every deferred presentment |
Minnesota |
$350 |
For a sum of up to and also including $50 there is a $5.50 charge added. Between |
Mississippi |
$400 |
Lenders are not allowed to charge indirectly or direct a fee or some other |
Missouri |
$500 |
The borrower could be charged an interest fee on an amount which is not paid |
Montana |
The minimum loan amount is $50 but the loan cannot exceed $300 |
A lender is not allowed to charge a fee for making a deferred deposit loan |
Nebraska |
$500 for every payday loan at any time. |
The lender is allowed to charge an amount of $15 for every $100 and $17.65 |
Nevada |
monthly gross income of 25% |
Lender is not permitted to make a loan of deferred deposit over 25% of the |
New Hampshire |
$500 |
A cash loan can only incur interest, charges or fees which are levied on the |
New Jersey |
Prohibited Loans |
The law does change every now and then. Keep checking back to stay up to date. |
New Mexico |
A charge of 25% of the gross monthly income which includes fees. |
$0.50 is charged as verification fee, the total amount charge is 15.5%. Lenders |
New York |
N/A |
Leders are not allowed to charge over $16 for every $100 on the first principal |
North Carolina |
N/A |
A check cashing company is not allowed to indirectly or directly charge and |
North Dakota |
$500 |
A lender needs to charge a service fee but not over 20% of the total amount |
Ohio |
$500 |
The interest is calculated according to the USC 1606 guidelines and will not |
Oklahoma |
$500 |
Lenders can charge an interest fee but it shouldn’t exceed $15 for each $100 |
Oregon |
A 30% rate from gross monthly income. |
Lenders are not allowed to renew or issue a loan over the rate of 36% annually. |
Pennsylvania |
N/A |
Getting a payday cash loan in Pennsylvania can be difficult. Right now |
Rhode Island |
For all payday loans $500 at any time. |
Lenders are not permitted to charge a check cashing fee over 15% of the |
South Carolina |
For all payday loans $500 at any time. |
Lenders are allowed to charge more fees in addition to their originating fees. |
South Dakota |
$500 |
There are no limits on the type and fee amount. |
Tennessee |
$500 usually for a maximum of 3 payday loans at the same time. |
Lenders are allowed to charge $15 as interest for every $100 and the finance |
Texas |
N/A |
$10 is the originating fee, $48 is the interest fee for every $100 plus there |
Utah |
N/A |
N/A |
Vermont |
$500 |
It shouldn’t be over 18% of the total year fees. |
Virginia |
$500 |
$5 is the verification fee, $36 is the interest fee for every $100, and an |
Washington |
$700 and It should be under 30% of the borrower’s gross income. |
Lenders are allowed to charge fees as the total amount over $15 for every $100 |
West Virginia |
N/A |
The law does change every now and then. Log back in to get the latest updates. |
Wisconsin |
35% or $1500 of gross income every month depending on which is less. |
|
Wyoming |
N/A |
Finance charges should not be over $30 or even 20% of the monthly principal |
There are some states that do not have any specific lending statutory provisions
pertaining to payday loans. And they do not require that lenders comply with the
interest rates offered by: Maryland, New Jersey, Connecticut, Massachusetts, West
Virginia, Vermont and Pennsylvania. North Carolina and Arizona are allowed preexisting
cash loans statues and laws to sunset.
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Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.
Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.