Rates and Fees

Your Quick Guide to Cash Loan Charges

Now and then, everyone needs a financial boost between paychecks to help make ends meet. With bad credit loan from LoanUp.com, you can get the funds you need quickly and conveniently.

LoanUp.com does not offer direct cash loans. Instead, we connect you with our nationwide network of reliable lenders, who provide loans of $500 or more.

Cash Loan State Regulations
Maximal Loan: $500

The maximum interest rate is 17.5 percent of the total loan amount.

Maximal Loan: $500

The maximum finance fee is $15 for every one hundred dollars loaned, or 15 percent. Lenders can also charge a nonrefundable origination fee, up to five dollars total.

Maximal Loan: Pre-existing lending statutes in these states for cash loans may sunset (expire)
Maximal Loan: $400

No more than ten percent of the total amount of the loan can be charged as interest. Additional fees up to ten dollars can be charged.

Maximal Loan: $300

Lenders aren't permitted to charge finance fees of more than 15 percent, as regulated by legal provisions in the Code of Federal Regulation and the John Warner National Defense Authorization Act, both set in 2007.

Maximal Loan: $500

The highest allowable finance fees for cash loans are 20 percent on the first 300 dollars, and 7.5 percent on any additional funds. A total annual rate of 45 percent may be charged on cash loans. If loans are settled before the end of the lending term, lenders are obliged to refund a pro-rated portion of the annual percentage.

Thirty days after cash loans are approved, lenders can charge monthly maintenance fees of up to $7.50 for every hundred dollars loaned. This fee cannot total more than 30 dollars a month. Additional fees can be charged for loan renewals, as long as they don't exceed the 45 percent maximum annual percentage.

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: $500
Maximal Loan: The current law in the District of Columbia prohibits cash loans.
Maximal Loan: $500

There is a cap of 10 percent of the total amount of the loan on finance fees. Lenders may charge one-time verification fees.

Maximal Loan: The current law in the state of Georgia prohibits cash loans.
Maximal Loan: $600

The maximum finance fee amount is 15 percent of the total amount for cash loans.

Maximal Loan: $1,000

Idaho has no current limits set by law on finance fees for cash loans.

Maximal Loan: $1,000 or 25 percent of gross monthly income, whichever is the lower amount.

There is a maximum finance fee limit of 15.5 percent, or $15.50 for every 100 dollars, for cash loans. Both lender and borrower must agree on a payment schedule with at least 13 days and no more than a month between payments. Exceptions can be made for the initial payment.

The finance rate can only be applied until either the loan has been repaid in full, or until it reaches the maturity date. No further fees can be charged after the maturity date of the loan.

Maximal Loan: Between 50 and 550? dollars

The maximum finance fees are as follows: 15 percent for cash loans up to 250 dollars; 13 percent for loans from $251 up to $400, and 10 percent on cash loans between $401 and $550.

Maximal Loan: $500

Fees are based on loan amounts in $100 increments, with a maximum of 15 dollars for the first $100, and an additional ten dollars for each 100 dollars more.

Maximal Loan: $500

The maximum finance fees allowed are 15 percent of the cash loan amount, dropping to 3 percent at one month after the maturity date. Additional loan fees are prohibited, though returned check fees may be charged.

Maximal Loan: $500 total for all loans, with a maximum of 2 loans at any one time

The maximum allowable finance fees are 15 percent, or $15 for every 100 dollars of the cash loan amount.

Maximal Loan: $350

No more than 16.75 percent of the amount of the cash loan may be charged as a finance fee.

Maximal Loan: None

No restrictions

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: $600

Fees are based on loan amounts in $100 increments, and the maximum allowable fees are as follows: 15 percent for the first 100 dollars, 14 percent for the second $100, 13 percent for the third hundred, 12 percent for the fourth, and 11 percent for the fifth and sixth 100 dollars. Verification fees are also permitted to be charged.

Maximal Loan: $350

Variable fees apply for cash loans depending on the amount loaned, as follows: $5.50 for loans of 100 dollars or less. For cash loans between 101 dollars and 250 dollars, the maximum fee is 7 percent, plus an administration fee of 5 dollars. For cash loans from 251 dollars to 350 dollars, the maximum fee is 6 percent plus 5 dollars.

After the loan matures, the finance rate can't go over 2.75 percent, with a daily rate of 0.03 until the loan is paid in full.

Maximal Loan: $400

For cash loans, there is a maximum allowable finance fee of 18 percent of the total loan. In addition, lenders may collect indirect fees of not more than:

  • The greater of 5 dollars or 3 percent for a government-issued loan
  • The greater of 5 dollars or 10 percent of a personal check
  • The greater of 5 dollars or 5 percent of a money order
Maximal Loan: $500

For cash loans, finance fees and other charges are permitted up to a combined 75 percent of the loan amount. However, any fees charged must be agreed upon by both the lender and the borrower.

Maximal Loan: $50 – $300

The maximum finance fee for cash loans is 36 percent. An additional insufficiency fee may be applied.

Maximal Loan: $500

For every 100 dollars of the cash loan amount, a maximum fee of 15 dollars may be charged.

Maximal Loan: N/A

Cash loans in Nevada are governed by the stipulations of the 2007 National Defense Authorization Act.

Maximal Loan: $500

Cash loans, referred to in New Hampshire as salary loans, have a minimum rate of 6 percent and a maximum rate of 36 percent. Lenders are permitted to apply additional charges.

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: 25 percent of a borrower’s monthly income, before taxes

For each new loan, lenders may charge a processing fee of up to 50 dollars that is due during the term of the loan. In addition, finance fees of $15.59 for each 100 dollars of the loan amount may be charged.

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: Pre-existing lending statutes in these states for cash loans may sunset (expire).
Maximal Loan: $500

The maximum finance fee for cash loans is 20 percent of the total amount.

Maximal Loan: $500

The maximum finance fee for cash loans is 28 percent of the total amount.

Maximal Loan: $500, not including finance fees

The maximum finance fees are 15 dollars per 100 dollars of the loan amount for the first $300, and 10 dollars for each 100 dollars above that amount.

Maximal Loan: None

Origination fees of 10 dollars for each 100 dollars of the cash loan, up to a maximum of 30 dollars, may be charged. In addition, there is a maximum finance fee of 36 percent.

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: $500

The maximum finance fees and loan charges are:

  • 10 percent for cash loans
  • The greater of $5 or 3 percent of the total amount of a loan
  • 10 percent for personal checks
  • The greater of $5 or 5 percent for any check
Maximal Loan: $550, not including finance fees

The maximum finance fee for cash loans is 15 percent.

Maximal Loan: $500

No restrictions

Maximal Loan: Provisions in the Tex. Fin. Code Ann. p§342.30, Chapter 341, subchapter C? govern the maximum loan amounts

Provision in Tex. Fin. Code Ann. §342.251 govern the finance fees.

Maximal Loan: TBD
TBD
Maximal Loan: None
No restrictions
Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: $500
Finance fees for cash loans are a minimum of 3 percent, and a maximum of 20 percent. Lenders may charge a verification fee of not more than 5 dollars.
Maximal Loan: The lesser of $700 or 30% of the borrower’s monthly income before taxes

For the first $500 of the cash loan, the maximum finance fee is 15 percent. For loans that total more than 500 dollars, a finance fee of 10 percent may be charged. Lenders may not charge more than 10 percent for a single loan that totals more than $500.

Maximal Loan: These states currently have no regulations or lending provisions for cash loans.
Maximal Loan: None

There are no current restrictions on finance fees for cash loans. However, lenders can't charge additional fees for loans that are unpaid by the maturity date.

Maximal Loan: None

The maximum finance fees are 20 percent per month on the principal balance of the cash loan, or 30 dollars.

To start the cash loan process, simply fill out our free Cash Loan Application Form online. The application takes just a few minutes to complete. Once you submit the form, we’ll start matching you with lenders in our network who can meet your emergency fund needs. Please note that you must review all of your loan documents thoroughly, as each state has specific laws and regulations regarding cash loans. In addition, rates and fees will vary by lender, and according to your personal borrower information.

As a general guide, most of our lender’s fees range from $12 to $30 for each $100 loaned. However, you should carefully review each lender’s terms and conditions before committing to a loan.

If the loan terms offered by a lender are not satisfactory to you, you are not obligated to accept the offer. You will not be under contract for a loan unless you e-sign a lender’s agreement.

Cash Loans: The Basics

After you submit your online loan application through LoanUp.com, we’ll send your information securely for review to multiple lenders in our network. If your request is approved, our lenders will begin sending you loan offers, along with their terms and conditions. Lenders are required to disclose all interested rates and possible fees associated with loans through the Truth in Lending Act. Lenders’ fees are determined through state requirements and the lenders’ policies. Please note that LoanUp.com cannot quote loan rates and fees for our lenders.

Before accepting a loan offer with your valid e-signature, remember to thoroughly read the attached terms and conditions. When you accept a loan offer, the funds will be deposited automatically into your checking account.

Keep in mind that you are not obligated to accept any loan offers sent from our lenders. You may cancel your loan application process at any time, with no fees or penalties to you.

Implications of Late Payment

If your short term loan is not paid on time, there are several courses of action that can be taken by our lenders. You can find out your particular lender’s practices by visiting its website. You should read this information carefully before you electronically sign any loan agreement.

Implications of Non-Payment

When loans go unpaid, this can influence you in several different ways. You should always be sure to negotiate payment arrangements with your lender if you are unable to repay your loan as stated in the original agreement in order to avoid or reduce the following:

Financial Implications – While the fees for short term loans of up to $500 already amount to 15-40% for $100 borrowed, unpaid loans can have even higher charges. Also, the interest charged on loans of more than $500 can be higher. Additional charges for non-sufficient funds can be $20 or more and loans that are more than 15 days past due can be assessed additional charges of up to 10%.

Collections Practices – Our lenders reserve the right to contact you via telephone, text message and email in an attempt to collect the money they are owed. Generally, they will not sell your debt to collection agencies or sue you for the unpaid balance; they will instead offer debt settlement options. All lenders must adhere to the guidelines of the FDCPA, or Fair Debt Collection Practices Act, that was put into effect by the FTC. Additional information can be found at http://www.ftc.gov/os/statutes/fdcpa/fdcpact.shtm or through the lender directly.

Impact on Credit Score – Failure to repay short term loans can have a negative impact on your credit rating if your lender reports to any of the major consumer credit bureaus. This will remain reflected in your credit history until the amount of the loan is repaid in full. This may also hinder your ability to take out short term loans in the future.

Renewal Policy – Some lenders will require you to agree to automatic loan renewals if you cannot pay your loan on the initially scheduled date. This is in addition to other options you may have, including paying your loan in full or making arrangements to pay down the principle balance over time. Please review your documentation carefully for automatic loan renewal information. You should also understand that additional interest and finance fees will be charged if your loan is automatically renewed.

Disclosure of Fees Including the APR

The Annual Percentage Rate, or APR, associated with short term loans is usually between 260% and 1825%. Though this seems high, it is actually quite competitive. These percentages depict what you would pay over the course of an entire year. Since these loans are made to be paid back quickly, they are highly competitive and less expensive than bounced checks and overdraft fees.

Implications of Late Payment

If your short term loan is not paid on time, there are several courses of action that can be taken by our lenders. You can find out your particular lender's practices by visiting its website. You should read this information carefully before you electronically sign any loan agreement.

Implications of Non-Payment

When loans go unpaid, this can influence you in several different ways. You should always be sure to negotiate payment arrangements with your lender if you are unable to repay your loan as stated in the original agreement in order to avoid or reduce the following:

Financial Implications - While the fees for short term loans of up to $500 already amount to 15-40% for $100 borrowed, unpaid loans can have even higher charges. Also, the interest charged on loans of more than $500 can be higher. Additional charges for non-sufficient funds can be $20 or more and loans that are more than 15 days past due can be assessed additional charges of up to 10%.

Collections Practices - Our lenders reserve the right to contact you via telephone, text message and email in an attempt to collect the money they are owed. Generally, they will not sell your debt to collection agencies or sue you for the unpaid balance; they will instead offer debt settlement options. All lenders must adhere to the guidelines of the FDCPA, or Fair Debt Collection Practices Act, that was put into effect by the FTC. Additional information can be found at http://www.ftc.gov/os/statutes/fdcpa/fdcpact.shtm or through the lender directly.

Impact on Credit Score - Failure to repay short term loans can have a negative impact on your credit rating if your lender reports to any of the major consumer credit bureaus. This will remain reflected in your credit history until the amount of the loan is repaid in full. This may also hinder your ability to take out short term loans in the future.

Renewal Policy - Some lenders will require you to agree to automatic loan renewals if you cannot pay your loan on the initially scheduled date. This is in addition to other options you may have, including paying your loan in full or making arrangements to pay down the principle balance over time. Please review your documentation carefully for automatic loan renewal information. You should also understand that additional interest and finance fees will be charged if your loan is automatically renewed.

Disclosure of Fees Including the APR

The Annual Percentage Rate, or APR, associated with short term loans is usually between 260% and 1825%. Though this seems high, it is actually quite competitive. These percentages depict what you would pay over the course of an entire year. Since these loans are made to be paid back quickly, they are highly competitive and less expensive than bounced checks and overdraft fees.

APR Comparison Table

14 Days
How does the APR for a single payment small dollar loan compare to other options? Compare your options for the cost of $100 extension of credit for
Product Type (single repayment) Charge APR
NSF + Bounced Check $45.00 1,173.21%
Overdraft Fee $30.00 782.14%
Late Fee $20.00 521.43%
Small Dollar Loan $10.00 260.71%
2 Days
How does the APR of a small dollar loan compare to the consequences of being unable to obtain a small dollar loan? Consider the cost of a $100 extension of credit for
Product Type (single repayment) Charge APR
NSF + Bounced Check $45.00 8,212.50%
Overdraft Fee $30.00 5,475.00%
Late Fee $20.00 3,650.00%

APR Calculations

$100.00 Amount Financed, $120.00 Repaid 2 days after the borrowing

Interest earned on last day but not the first, so 2 days earning: Per Diem uncompounded Interest = 3,650.00% per 365 day year = APR

$100.00 Amount Financed, $130.00 Repaid 2 days after the borrowing

Interest earned on last day but not the first, so 2 days earning: Per Diem uncompounded Interest = 5,475.00% per 365 day year = APR

$100.00 Amount Financed, $145.00 Repaid 2 days after the borrowing

Interest earned on last day but not the first, so 2 days earning: Per Diem uncompounded Interest = 8,212.50% per 365 day year = APR

$100.00 Amount Financed, $110.00 Repaid 7 days after the borrowing

Interest earned on last day but not the first, so 7 days earning: Per Diem uncompounded Interest = 521.43% per 365 day year = APR

$100.00 Amount Financed, $110.00 Repaid 14 days after the borrowing

Interest earned on last day but not the first, so 14 days earning: Per Diem uncompounded Interest = 260.71% per 365 day year = APR

$100.00 Amount Financed, $120.00 Repaid 7 days after the borrowing

Interest earned on last day but not the first, so 7 days earning: Per Diem uncompounded Interest = 1,042.86% per 365 day year = APR

$100.00 Amount Financed, $120.00 Repaid 14 days after the borrowing

Interest earned on last day but not the first, so 14 days earning: Per Diem uncompounded Interest = 521.43% per 365 day year = APR

$100.00 Amount Financed, $130.00 Repaid 7 days after the borrowing

Interest earned on last day but not the first, so 7 days earning: Per Diem uncompounded Interest = 1,564.29% per 365 day year = APR

$100.00 Amount Financed, $130.00 Repaid 14 days after the borrowing

Interest earned on last day but not the first, so 14 days earning: Per Diem uncompounded Interest = 782.14% per 365 day year = APR

$100.00 Amount Financed, $135.00 Repaid 7 days after the borrowing

Interest earned on last day but not the first, so 7 days earning: Per Diem uncompounded Interest = 1,825.00% per 365 day year = APR

$100.00 Amount Financed, $135.00 Repaid 14 days after the borrowing

Interest earned on last day but not the first, so 14 days earning: Per Diem uncompounded Interest = 912.50% per 365 day year = APR

$100.00 Amount Financed, $145.00 Repaid 14 days after the borrowing

Interest earned on last day but not the first, so 14 days earning: Per Diem uncompounded Interest = 1,173.21% per 365 day year = APR