This is the main reason why payday loans are so dangerous
Payday loans are expensive and charge very high fees which must be repaid within a short period of time. In fact, you could end up paying an effective APR over 400% if you take out a payday loan. Despite this disadvantage, many people use payday loans anyway. And there are valid reasons for this. Occasionally, […]
More startups and venture capitalists are banking on subprime lending alternatives – Crunchbase News
Fintech startups are increasingly looking into loans for more than a third of Americans with subprime credit scores. Their vision is to turn a negative connotation into one that not only helps short-term borrowers, but builds their credit and provides financial education. Subscribe to Daily Crunchbase The term “subprime” is generally applied to a borrower […]
The 5 main advantages of applying for a loan online
In this technologically advanced age, applying for loans online has become a common practice among people of all walks of life. The concomitant advantages of online loans make it an advantageous option over bank loans by far. The practice has become more prevalent recently as people have now increased their expenses and less savings for […]
How much do personal loans cost?
The Select editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. The best personal loans offer flexible repayment terms with lower interest rates than credit cards, which is why they have become […]
9 payday loan alternatives to save you exorbitant fees – Forbes Advisor
Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. If you need quick cash to cover an emergency or essential living expenses, you might be tempted to take out a payday loan. These loans are often easy to obtain – some […]
Russia’s payday loans hit record high in March
The Russians took out a record 2.35 million payday loans in March, according to data compiled by consumer credit rating agency Equifax Russia and reported by state media on Friday. As a sign of Russians’ growing reliance on small loans, Equifax said high-interest microloans increased 17% since February and 30% since March 2020. Microfinance companies […]