Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, most short-term lenders operate as Credit Access Businesses (CABs). This means you will typically pay a state-regulated interest rate plus a service fee charged by the CAB for finding and servicing the loan. In Waco, local ordinances also limit the size of loans based on your monthly income to help prevent cycles of debt. Always review the 'Truth in Lending' disclosure provided by your matched lender for specific APR and fee breakdowns.
Annual Percentage Rate (APR)
200% - 600% (Includes interest and Credit Access Business fees)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $500 | 14 Days | 410% | $12.50 Interest + $110 Fee | $622.50 |
| $1,000 | 30 Days | 390% | $25.00 Interest + $215 Fee | $1,240.00 |
| $200 | 14 Days | 450% | $5.00 Interest + $45 Fee | $250.00 |
Representative Example: A $500 loan with a 14-day term and a total APR of 410% would result in a total repayment of $622.50. This includes the principal, state-mandated interest, and CAB service fees. Actual rates vary by lender, loan amount, and term.
State-Specific Information — Texas
Maximum Loan Amount: Based on 20% of gross monthly income in Waco
Rate Cap: No statutory cap; CAB fees vary
Regulations: Texas Finance Code Chapter 393; Waco City Ordinance 2015-467
Licensing: Texas OCCC Licensed Credit Access Business Partners