Although payday loans are short-term advances intended to be paid off quickly, various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage Rate (APR), or the cost of the credit advanced to you expressed as an annual rate. This requirement provides uniformity among various credit sources, so you can compare rates and make the choice that is right for you.

The following table provides examples of the cost to obtain a payday loan. The APRs are based on example loan terms of one payment ("Check Amount") due in 18, 14, and 7 days. The APR will increase if the actual loan term is shorter than these examples.

LOAN AMOUNT (Amount Financed)
LOAN TERM: 1 PAYMENT (# of Days)
LOAN FEE (Finance Charge)
CHECK AMOUNT (Total of Payments)
APR
$100.00
18
$30.00
$130.00
608.33%
$100.00
14
$30.00
$130.00
782.15%
$100.00
7
$30.00
$130.00
1564.29%
$200.00
18
$60.00
$260.00
608.33%
$200.00
14
$60.00
$260.00
782.15%
$200.00
7
$60.00
$260.00
1564.29%
$300.00
18
$90.00
$390.00
608.33%
$300.00
14
$90.00
$390.00
782.15%
$300.00
7
$90.00
$390.00
1564.29%
$400.00
18
$120.00
$520.00
608.33%
$400.00
14
$120.00
$520.00
782.15%
$400.00
7
$120.00
$520.00
1564.29%
$500.00
18
$150.00
$650.00
608.33%
$500.00
14
$150.00
$650.00
782.15%
$500.00
7
$150.00
$650.00
1564.29%