PAYDAY LOANS – HOW DOES IT WORK?
CashAdvance-2015.net is one of the nation’s largest networks of lenders to help you get the funds you need for your short-term needs. After you fill out the short and simple form on this website we work with our network of lenders to try and match you with the right lender for your payday loan at the best possible rates. If we are successful in matching you with a lender, you’ll see a page with a list of all the terms and conditions for the lender that we’ve determined is the best match for you. If you are unhappy with the terms of a loan from a lender you are under no obligation to continue on with the loan process. The best part is that we do not charge any fee to you for the use of our service.
What is the APR I can expect for a payday loan I may get from CashAdvance-2015.net?
CashAdvance-2015.net is not a lender and does not provide short-term loans, but refers consumers who need these loans to lenders who provide them. Because CashAdvance-2015.net does not provide consumers with loans directly, it is very difficult for us to provide you with an exact Annual Percentage Rate (APR) that you might expect to pay on a short-term loan. APR is meant to characterize both the interest rate and the fees associated with a loan for an entire year. The loan that you are likely to be offered by a referral from our site will be a short-term loan that should be repaid in a matter of weeks, so using an APR to describe the cost of the loan may seem misleading. That said, since APR is a well recognized standard for describing the cost of other types of loans, like mortgages, credit cards, or auto loans, we want to provide an APR for you to study that may help guide your assessment on whether a loan offered to you is the right fit. The APR may vary considerably between different loans and different consumers, and since CashAdvance-2015.net is not a lender we can only provide a range of possible APR’s that our consumers might see from our lenders. The typical fees charged by a lender in our network for a $100 loan with a 14 day term range from $15 to $35. These fees translate to an APR range of 200% to 2,500% for a 14 day loan, depending on how the APR is calculated (nominal vs. effective) during the duration of the loan, what loan fees are incurred, late payment fees, loan renewal actions, along with other factors. Please keep in mind that the APR is not your finance charge, which will be disclosed later on by the lender.
If I accept a loan from a lender in your network, when can I expect to receive my funds?
One of the benefits of a short-term loan is that you can have your cash fast. Since we work with numerous lenders we can’t say specifically the time it takes to process a loan and transfer or ACH the funds to a customer account as it varies from lender to lender. Typically, the whole process should be complete and you will have your funds as soon as the next business day after you have been approved.