Sample Table of Loan Rates and Terms

SAMPLE INSTALLMENT SCHEDULE SAMPLE LOAN TERMS:
$300 loan amount, 30% periodic service fee, 10% principal reduction payments starting on payment 5
Payment Number Beginning Principal ($) Finance Charge ($) Payment Due ($) Ending Principal ($)
1 300 90 90 300
2 300 90 90 300
3 300 90 90 300
4 300 90 90 300
5 300 90 120 270
6 270 81 111 240
7 240 72 102 210
8 210 63 93 180
9 180 54 84 150
10 150 45 75 120
11 120 36 66 90
12 90 27 57 60
13 60 18 48 30
14 30 9 39 0

* Most short-term loans require repayment within 14 days or on your next pay date. Loan extensions, also called “renewals” or “rollovers” often entail payment of the Finance Cost as a minimum payment and will incur an additional Finance Cost in exchange for another loan term.

 

** APR is the cost of borrowing money for an entire calendar year. Short-term loans are never intended to be used for this period of time; and we encourage other loan products to meet your financial needs.

 

*** Simple interest is calculated only on the current principal amount of the loan and is not compounded over multiple time periods.

 

**** A Short-Term Consumer Loan is designed to help consumer borrowers meet their short-term financial emergencies and is not intended to meet their long-term financial needs.