Fees and Terms for Loans in Colorado
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Offering Six-Month Loans
Loan specifics:
- Loan amount: $100-$500, in $100 increments
- Length of loan: 180-210 days (six months)
- Origination fee: 20% for the first $300, plus 7.5% of any amount loaned in excess of $300 up to $500
- Interest: 45% simple interest on the loan amount
- Monthly maintenance fee: $7.50 for each $100 of the original loan amount (up to a maximum of $30 per month) for five of the six months
- Payment schedule: Monthly or bi-weekly payments are established based on pay cycle
Example of a $300 Loan:
* The Annual Percentage Rate (“APR”) is the cost of your loan expressed as a yearly rate. The above APRs are based upon the representative loan examples and repayment schedules provided. The actual APR for your loan may be higher or lower, depending on the amount you borrow and the repayment schedule.
** Total repayments are assuming payments are made on scheduled due dates and as agreed to in the contract.
Certain limitations apply. Subject to approval. Checks may be issued instead of cash.
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