MicroLoan Express

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1 (877) 311-7496

CALL US AT:

(843) 656-9160

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Payday Loan Rates & Terms

Payday loans range in size from $50 to $550. The average loan term is about two weeks and the legal maximum interest rate that can be charged in South Carolina is 15%, so the finance charge is $15 for every $100 borrowed, plus a single $0.40 transaction fee regardless of loan size. For example, the payoff on a $100 payday loan will be;

Loan Amount: $100.00
Finance Charge $15.00
Veritec Transaction Fee $0.40
APR: 401.50%
Total Amount
Due:
$115.40

The example above assumes a 14-day loan term and is a typical loan offered to qualified applicants. Other loan amounts and terms may be available to our customers. Checks may be issued instead of cash.

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