Rates And Fees
How much will the loan cost?
If you are matched with a lender for a loan, they will present you with the exact fees. As a matching service we do not have information as to the exact APR charged for the loan. APR’s vary from Lender to Lender and are based on factors such as the State you live in, duration of the loan, amount borrowed, and other specific lender criteria. Typical APR’s range from 200% to 1,500% depending on how the APR is calculated and the duration of the loan, loan origination fees, late payment fees and other non-payment fees. The typical cost of this loan equates to about $25 to $30 per 100 borrowed for this two to three week loan. The APR rate is calculated assuming you keep this loan outstanding for an entire year. These loans are not designed to be outstanding for long periods of time. If you are looking for a longer term loan, please consult your financial institution.
When you are matched with a lender that agrees to present you with an offer to lend, they will present you with a loan contract proposal. We encourage you to read your loan contract carefully and completely before you agree to the terms of the loan. Most lenders will also talk with you directly to explain the product and various fees so that you are well informed before you agree to complete the loan. If you do not like the terms of the loan presented to you, we encourage you to call and talk with your lender before you make a final decision to sign your loan documents.
We ask that you please note that Snug-loans.com is not a direct lender and is not able to make any decisions on credit or credit worthiness. Snug-loans.com is a free service. This is good for you because it allows you to find the information you need quickly, easily, and free of charge. Our lenders are required by the Truth in Lending Act to disclose all loan fees, interest rates and any other costs you will incur if you accept their terms.
Please read your loan document carefully as it will dictate all your exact APR and other details. Remember, you are under no obligation to accept these terms. If you don’t agree with them, don’t accept them. If you do agree to the terms, the lender will inform you how to e-sign for the loan. Again, there is no obligation up until that point in time. You may quit the process at any time with no fear of penalties or fees of any kind. Once you accept the terms, the funds will be deposited in your account!
Our Lenders’ Interest Rates
Please note that fees and interest rates are determined solely by your individual lender. They are determined according to the information you submit on our form. Snug-loans.com has no say in any of these rates and fees. As the consumer experience is important to us, if you are dissatisfied in any way during the process, simply decline.
In some cases the Interest Rates charged by our lenders will be higher than traditional loans issued by banks or other traditional credit institutions. This is because our lenders often lend funds to less creditworthy individuals. Banks and credit institutions requirements are more complicated and not available as quickly as a payday or cash advance loan. With our lenders, you receive your cash within one business day after you are approved and sign the documents. You will never be charged anything at all by Snug-loans.com.
State APR and Regulations
Each state has different rules and regulations in regards to short term financial lending. If you have questions, you may see yours below.
Alabama Louisiana Rhode Island Alaska Michigan South Carolina California Minnesota South Dakota Colorado Mississippi Tennessee Delaware Missouri Texas Florida Montana Utah Hawaii Nebraska Virginia Idaho Nevada Washington Illinois New Mexico Wisconsin Indiana North Dakota Wyoming Iowa Ohio Kansas Oklahoma Kentucky Oregon
Late Payment Policy
All of our lenders have their own policies when dealing with late payments. These policies, which could potentially include late charges, will be detailed in the loan document if you are approved before you accept the loan. As mentioned, please read and understand all of these terms before signing. If you are unable to make a payment as required, contact the lender immediately. They may be willing to discuss your problem and work with you. This doesn’t mean that additional fees will not apply.
FAILURE TO PAY
Generally Additional Fees and Charges will apply should you fail to make your loan payment. All lenders in Snug-loans.com are fair and reasonable when it comes to their collection practices. Should you encounter an instance where this doesn’t occur, let us know and we’ll work to correct it. At the same time, refusal or failure to pay may result in legal action against you to collect your loan amount, interest and cost of collections.
Loan Renewal Policy
These policies depend, primarily, on the state you live in. In states where rollovers or extensions are allowed, interest rates and late fees typically are added to the original loan amount which can result in a substantial increase in the amount you are required to pay back. Please read your documents carefully as you will be expected to understand these conditions after you accept your loan.
How And When Do I Repay The Loan?
One of the benefits of a payday loan is that you don’t have to deal with payments, coupons or even a due date. With a cash advance, you promise to pay back the loan with your next paycheck. The amount is deducted directly from your account by the lender.
Please Note: Snug-loans.com is in No Way a Financial Institution or a Lender. We have no ability to make cash advances or credit lending decisions. Snug-loans.com is here to match you with a lender that will assist in your financial needs. Completing this form does not guarantee you will be approved for a loan. Additionally, not all lenders provide up to $1000 in loans. Cash wire transfer time may vary with each lender.