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Consumers looking for an emergency loan of $100 - $1500 without the hassles of a credit check or mounds of paperwork, turn to payday lenders who are willing to take the risk on a short term loan. Typically these loans are for a period of four to ninety days. Payday lenders agree to deposit the $100 - $1500 loan into the borrower's checking or savings account, usually the same or the next day following loan approval. The borrower agrees to let the lender debit his/her account on specific future dates (almost always the date the borrower receives their income) for a specific minimum amount (usually just the fee). Borrower gets the emergency funds when he/she needs them without hassles, and lenders receive their fee (typically $10 - $30 per $100 borrowed each 14 days ) for giving the short term loan. These loans should be paid off as quickly as possible. When stretched out over several pay-periods or more, the fees can really add up. A borrower applies for a payday loan by providing very basic information to the loan source. Typically the list looks like this: (i) The borrower's name, address, phone numbers, and email address; (ii) some yes/no questions like: do you receive at least $500 per month income? Do you have a checking or savings account?; and (iii) information to confirm the borrower's identity (to comply with the USA PATRIOT Act) such as date of birth and social security number. Lastly, the loan source will need the bank routing number and the account number for the account into which the money should be deposited. This is also the account the lender will use to debit the money from later. How much is the cost or fee? 1500Loans.com does not charge a fee to consumers for using our services. There is no fee charged to apply by the loan source either. Only in the event that you actually receive a loan from a lender will you incur a fee or interest charge. That amount should be disclosed to you by your lender prior to obligating yourself to a loan, so you will know your fee structure/APR before you obligate yourself to a loan. For Example: These examples are based on a minimum 14 day loan term, regardless of early loan payoff. We estimate that the finance charges offered through the loan sources displayed on this website range from $10 per $100 borrowed each 14 days (two weeks) up to $30 per $100 borrowed each 14 days (two weeks). The corresponding Annual Percentage Rate range for this estimated range would be between 260.71% and 782.14%. Get Matches Now How much is the minimum payment? You will know your minimum payment before you accept your loan terms. Our site will match you up with several potential loan source choices. You then may choose to review them and select which one(s) you wish to apply with. Your actual minimum number of payments, and other repayment terms should be disclosed to you by your lender prior to obligating yourself to a loan. Generally these minimum payments coincide with your pay dates and allow you to pay more than the minimum without a penalty. How long it takes to pay the loan off is largely up to you and whether you choose to make the minimum payments, or pay more than the minimum.

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