Combatting predatory lending is our primary focus. We have created a product called the Helping Hand Loan™, an installment loan for up to $1,000 that helps consumers break the payday loan cycle. It features a maximum 1-year term, and we attempt to ensure that the monthly payment is no more than 5% of the borrower’s monthly gross income. The interest rate is capped at 36% APR.* This combination of a lower rate, longer term and smaller payment eliminates the need for countless rollovers, which is the primary reason why payday loans have become so predatory in nature.
*Annual Percentage Rate. Loan funding requires verification of application information. All loans subject to approval pursuant to standard underwriting criteria. Payment example: A $500 loan at 36% APR for 6 months would be $92.30 per month.