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Loan cost and terms: Short Term Loans

Short and sweet: We are a decidedly small, privately owned company dedicated to helping customers break the circle of debt that many short term loans create. Period.

We’ll tell you the price, terms and structure of our products, as well as any fees associated with them. We are here to help at the time of the loan, and want you to be one hundred percent happy with your experience at the end of your short term loan.

  1. Our maximum short term loan amount is $250 for new customers.
  2. Our maximum short term loan amount is $500.00 for returning customers.
  3. These loan amounts are not available in all states.
  4. Loans are from 2 - 30 days as allowed by state law.
  5. Our APR (Annual Percentage Rate) is 365% - Roughly $1 per day per $100.
  6. No bounced check, past due fees or any other penalty fees.
  7. No pre-payment penalties. Only pay for the days you keep the loan open. We pro-rate all loans.
  8. Payment plan option: This is available to customers who are unable to make their payment in full. The payment plan takes the total amount due (Principal + Interest) and divides it over 4 pay periods, we do not charge a fee for this plan but do continue to charge interest on the amount of principal outstanding. See below for a payment plan example: This is based on a customer who is paid every 14 days.
  9. Insert the phrase "GiveMe5" in your application when we ask the reason for taking out this loan - If approved and verified, we will send along five dollars with your first loan funds.

Payment plan information:

This is not fine print meant to fool or mislead you. We want you to fully understand this plan and use it where it will benefit you best:

  1. Only request a payment plan if you can’t make the pay in full payment that was initially agreed upon.
  2. Requesting a payment plan does increase the cost of credit, but is most beneficial in allowing lower payments over a longer period of time.
  3. Payment plan dates are determined by your pay frequency.

The foundation of ResponsibleLoan.com’s business is common sense and the true spirit of providing a helpful, indispensible, easy to use product. Therefore we encourage you to use short term loans responsibly, as they are a high cost of credit loan. Choose a loan amount and payment date that allows you to pay off your loan quickly, comfortably and easily within your present monthly budget.

Not all states are serviced by ResponsibleLoan.com.