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Small Dollar |
Large Dollar |
|
|
Employer Commitment |
No employer cost or liability |
No employer cost or liability |
|
Credit Score |
No credit check required |
Credit check required |
|
Loan Amount |
$1,000 - $5,000 |
$5,000 - $100,000 |
|
Repayment |
12 - month terms (not to exceed 8% of gross pay) |
2-7 year term |
|
APR |
19.99%* |
As low as 3.99%** for prime borrowers, based on market rates (APR based on credit check) |
|
Credibility |
Repayment reported to 3 credit bureaus*** |
Repayment reported to 3 credit bureaus*** |
|
Additions |
Borrowers receive 6 free credit counseling sessions |
Borrowers receive 6 free credit counseling sessions |
*Loan example: On a $1,000 loan, an employee paid on a semi-monthly pay schedule would have approximately $46.50 deducted from each paycheck for a one year term. This results in approximately $116.00 in total finance charges with an Annual Percentage Rate of 19.99%. The number of payments, payment amounts, total finance charges, and APR will vary based on loan amount, payroll repayment periods, and the number of days the loan is outstanding prior to the first payment date.
**Rates vary by loan purpose, amount, term and credit. Rate Beat Program available with a .10 percentage points lower than the rate offered by a competing lender. Payment example: Monthly payments for a $10,000 loan at 3.99% APR with a term of 3 years would result in 36 monthly payments of $295.20.
***Non payments would also be reported