Emergency Loans

If you were to listen to the local press or local politician opining about payday loans you probably have a pretty negative image of what they are. However, have you ever stopped and thought about the people who speak out against payday loans?

Most of these people have comfortable jobs, fat salaries and money in the bank. What if you’re not that fortunate, who can you turn to if times get bad? 

Did you know that the payday industry has more rules and safeguards than any other type of lending institution that loans money to consumers?

By in large, payday loan lenders fair, honest and genuinely want to help their customers. They provide a service that banks, finance companies and credit cards will not provide. Unlike other lending institutions, payday loans are short term loans designed to help their clients make ends meet when unexpected expenses arise.

Payday loans are short-term “fixes” designed to be paid back within one or two pay periods, and most borrowers do. The average interest charged on a $1500 loan by “traditional” finance companies ranges anywhere from $350 - $500 once it is amortized out.