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RESPONSIBLE LENDING

RespsonibleLoan.com is here to solve a problem, not create new ones. Not even one.

We want to help customers and potential customers with emergency cash problems they may have. Our goal is for you to leave this loan fully paid, and in better financial shape, than when you took the loan.

If you do need a short term loan between now and then, we hope you use our cash advance product. Here’s a brief overview of the loan which we hope will allow you to make a better decision:

  • We provide short term loans whose terms may be five days to a month.
  • We expect you to repay your loan on time or before they’re due since we pro-rate interest.
  • We don’t allow rollovers or the ability to repay a loan and take out a new one on the very same day.

These basics may differ from many pay day lenders. The reason is simple. We want to put you in control of your cash flow,  not make this loan a burden or the start of a continuous string of   borrowing.

ResponsibleLoan.com is here for those times when you need quick emergency cash.

Flexible loan terms

Before you apply tell us how much money you want to borrow and for how many days. We want to empower you to make the best cash advance decision for your situation - not ours. The amount you apply for and the length of loans for bad credit impact the cost of the loan too, so you can tweak the loan to fit your situation and improve your chances of entering a better credit market.

Short-term Loan

We ask that you settle your ResponsibleLoan.com loan quickly. In return, you can then use us again the next time you need short term loan. Our product is built to make money on you paying us back on time, it is not based on continued rollovers. ResponsibleLoan.com doesn't roll your balance from month to month and no further Cash Advances are made possible until your existing loan is repaid and settled with our banks.

Transparent service

We are responsible and also reasonable. We calculate the total amount repayable before you apply. We’ll walk you through the payment plan during a short phone conversation.  We want you to understand the cost of credit and APR of this loan before you apply. We include the interest and the full cost to ensure you have all the information you need to make a cash advance decision, and just as important we never change the rate we charge.

Credit check

We know you may not have the best credit. We don’t require it. Because of this and because of the cost associated with credit checks, we don’t perform them. We have built a sophisticated scoring strategy that reviews your application data, banking history and other criteria we may pull from non-credit bureau entities and make a decision on your loan. This is faster and often fairer.

Along with a review of your checking account and pay stubs, we are able to make sure we only lend to people who we believe are able to pay us back.

We have no interest in creating a cycle of debt for a customer who already has too many pay day loans open right now or is using this loan in a non-responsible manner. As we develop a relationship with you and gain each others trust, it is possible that we will offer increased loan amounts.

Cost

Short term loans are an expensive form of credit. We strongly encourage you to make sure you have exhausted friends, family, negotiating with creditors and other prime sources of credit before applying for a loan for bad credit. Our loans are calculated using 365% APR. We pro-rate all of our loans, so you only pay for the amount and time you keep the loan outstanding.

What we expect from you

Applying for and getting a short term loan is not a decision that should be made without weighing all your options and determining if this is the right financial move for you. Accepting our loan agreement becomes a legal binding document enforceable in a court of law. We are committed to keeping our promise, but expect you to do the same. We want a happy and healthy relationship with you so we explain our fees and pricing very clearly. You need to be comfortable that you can repay us as planned.

We strongly encourage you to make sure you have explored and exhausted every other option. Have you talked to friends, family, negotiated with creditors and other prime sources of credit before applying for a loan for bad credit?

Our loans are calculated using 365% APR. We pro-rate all of our loans, so you only pay for the amount and time you keep the loan outstanding. In other words, if you pay off your loan five days before it is due, you save five days of interest payment.