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PERSONAL (PAYDAY) LOAN INFO

A payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card (see cash advance). Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.
Some jurisdictions impose strict usury limits, limiting the nominal annual percentage rate (APR) that any lender, including payday lenders, can charge; some outlaw payday lending entirely; and some have very few restrictions on payday lenders. Due to the extremely short-term nature of payday loans, the difference between APR and effective annual rate (EAR) can be substantial, because EAR takes compounding into account. For a $15 charge on a $100 2-week payday loan, the APR is 26 × 15% = 390% but the EAR is 1.1526 - 1 × 100% = 3686%. Careful reporting of whether EAR or APR is quoted is necessary to make meaningful comparisons.

Source: Wikipedia

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Mortgage Terms
Terms used in residential lending.

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Important Info
THE OPERATOR OF THIS WEB SITE IS NOT A LENDER, does not broker loans to lenders and does not maintain any product offerings, loans or credit decisions.This web site does not constitute an offer or solicitation to lend. This site will provide third-party links to securely submit information you provide. Note: We do not collect or store any personal or sensitive information - please review our legal/privacy statement for further details to a lender. Providing your information on this web site will not guarantee that you will be approved for a product offering. The operator of this web site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. This service is not available in all states, and the states serviced by this web site may change from time to time and without prior notice. For details, questions and concerns regarding your application, please contact your lender directly. Any Cash advances applied for are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution.

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