Loan Costs
loans cost
How much does the loan cost?
Here is a general breakdown of the fees:
1
Small Cash Loan
If the principal amount you borrow is between $300 – $2,000 you’ll pay: • Establishment fee: 20% of the principal amount • Monthly loan fee: 4% of the principal a month
2
Medium Cash Loan
If the principal amount you borrow is between $2,001 – $5,000 you’ll pay: • Establishment fee: $400 • Interest Rate : 48% APR
3
Here are some loan examples:
$1000 loan example: A loan of $1,000 for a 6 month (26 weeks) term has a weekly payment of $53.39 and the fees and charges totalling $440, and has total pay back amount of $1440.*
$2500 loan example: A loan for $2500 for a 6 month (26 weeks) term has a weekly payment of $125.46 and the interest, fees and charges totalling $773.83, and has total pay back amount of $3,277.83.*
