FINANCE
One 'Fast Loan' Has a 28% APR Cap
Others legally exceed 400% APR.
The 400% Payday Loan Mechanism
Profit comes from renewal fees, not the principal. The full cost is designed to appear after the first 14-day term.
The Federal Credit Union Alternative
Payday Alternative Loans (PALs) are federally regulated. Interest is capped at 28% and fees at $20 to prevent debt cycles.
Analyze All Fast Loan Options
The full report compares APR, fees, and approval criteria for personal loans, PALs, and cash.
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