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Cash Fast Loan

Cash Fast Loan

Cash Fast Loan

Cash Fast Loan

By: Admin | Date: November 12, 2011 | Categories:

Local payday lender stores and online cash advance websites offer personal loans. Most begin at $100 and loans are as high as $1500. The borrower has a short time until repayment is due, usually at their next pay date.

Who Offers a Fast Personal Loan?

Banks, credit unions, and other larger financial institutions do not, or cannot, make small loans under about $500, because they are unable to turn a profit. The government restricts the amount of interest they can charge. The payday and cash advance lenders have fewer restrictions. A common beginning interest rate for these lenders is around 456%, and can go over 2000%. While this sounds sky-high, the actual fee is just $15 to $25 for every $100 that is borrowed. On a small $100 loan, this is much less than a fee a bank would charge for an overdrawn check. If you are in danger of a check bouncing, getting a small payday loan can save you some money.


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