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partner Sure Cash Finance
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 $55.39 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 is charged a $400 establishment fee and is charged at 48% APR weekly payment of $125.46 and the interest, fees and charges totalling $773.83, and has total pay back amount of $3,277.83. a comparison rate of 98% applies to this example*
For both SACC and MACC examples, different amounts, different loan start dates and/or first payment date and terms will result in different total payback amounts. The above examples is if all payments are made on time and excludes any unascertainable fees and charges.
