Rates and Fees
Terms of your loan will vary based on the amount of the loan and the period of time to repay. Other factors may include the state you live in, your credit score, and your repayment history. Please contact your lender directly for questions regarding your loan.
Example Ranges (High Interest Loan):
| Advance Amount: | $100.00 |
| Total Days with Balance: | 7 |
|
Total Finance Charge:
*Assuming all payments are made as scheduled |
$6.90 |
| Minimum Payment Due: | $8.90 |
| Pay in Full Amount: | $106.90 |
| Annual Fee: | None |
| Cash Advance Fee: | None |
| Late Fee: | None |
| APR** for Cash Advances: | 360% |
**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. APR’s for other state-licensed and tribal lenders may range from 360% to 841.4532% depending on the duration of the loan and the loan origination fees. It's important to review the lender disclosures, rates, and applicable fees where applicable.
| Advance Amount: | $100.00 |
| Total Days with Balance: | 14 |
|
Total Finance Charge:
*Assuming all payments are made as scheduled |
$13.81 |
| Minimum Payment Due: | $15.81 |
| Pay in Full Amount: | $113.81 |
| Annual Fee: | None |
| Cash Advance Fee: | None |
| Late Fee: | None |
| APR** for Cash Advances: | 360% |
**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. APR’s for other state-licensed and tribal lenders may range from 360% to 841.4532% depending on the duration of the loan and the loan origination fees. It's important to review the lender disclosures, rates, and applicable fees where applicable.
| Advance Amount: | $100.00 |
| Total Days with Balance: | 30 |
|
Total Finance Charge:
*Assuming all payments are made as scheduled |
$29.59 |
| Minimum Payment Due: | $31.59 |
| Pay in Full Amount: | $129.59 |
| Annual Fee: | None |
| Cash Advance Fee: | None |
| Late Fee: | None |
| APR** for Cash Advances: | 360% |
**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. APR’s for other state-licensed and tribal lenders may range from 360% to 841.4532% depending on the duration of the loan and the loan origination fees. It's important to review the lender disclosures, rates, and applicable fees where applicable.
Example Ranges (Installment Loan):
| Loan Amount: | $1,000 |
| Lending Period: | 6 - 24 months* |
| Payment Frequency: | Ranges between once or twice a month |
| Annual Percentage Rate (APR): | 35.99%* (APR's vary based on lender, loan amount and individual based criteria) |
*Annual percentage rate (APR) will vary based on your repayment history, lending period, credit score, and other factors. Below is a representation of an APR you could typically see for an installment loan amount of $1,000.
| Loan Amount | Loan Term | Fee / Interest | APR% | |
| Example | $1,000 | 24 months | $417.01 | 35.99% |
Submitting your loan request form on Elf Lending is absolutely free. Our website offers an infomediary service that will attempt to connect you with independent, third party lenders who may secure a loan for you. We are not lenders and do not broker loans or make credit decisions. Although we are not lenders, we encourage consumers to research the rules and regulations regarding short-term loans, specifically the Truth in Lending Act, which requires lenders to fully disclose all loan fees and interest rates that borrowers may incur. All loan fees and interest rate information should be disclosed to you by your lender at the time of approval.
Lender's Disclosure of Loan Terms
When you are connected with a third party lender on our website, the lender will provide you with documents that contain all rate and fee information regarding the loan being offered to you. It is important that you thoroughly review the rate and fee information provided to you by your lender prior to agreeing to the terms of any loan. You are under no obligation at any time to accept these loan terms if you determine they are unsuitable. If you wish to proceed with the loan process after deciding that the loan terms provided by the lender in the loan contract are acceptable, then you may electronically sign the lender's acceptance page and simply wait for your funds. It is important to remember that the loan interest rates, fees, and loan terms are determined solely by your lender. Because Elf Lending is not a lender, we have no control or knowledge of the loan details between you and your lender.
Late Payment
Short term lenders may have different policies regarding late payments. Please ensure that you thoroughly review the late payment policy detailed in the loan documents and loan contract your lender provides before electronically signing and thereby agreeing to the loan terms. It is important to note that all lenders must abide by applicable federal and state laws and regulations regarding late payment fees. You are encouraged to research and review the applicable laws regarding short term loans and late payments in the state which you reside.
Non-Payment
In the event that you are unable to repay your loan, your lender may impose additional fees or charges. Our website uses commercially reasonable efforts to only work with a network of reputable lenders who are committed to using fair and reasonable debt collection practices. All lenders must abide by applicable federal and state laws and regulations regarding collections of past due accounts. We encourage consumers to not accept any loans that they cannot repay.
Loan Renewal
Lenders may have different terms and policies regarding loan renewal options and it is important for you to thoroughly read your lender's loan renewal terms before signing and accepting a loan. Where rollovers or repayment extensions are granted, interest rates, along with any Late Fee:s and additional charges that may be imposed, can substantially increase the dollar amount to the end cost of your loan. You are encouraged to review and understand your lender's terms regarding loan renewal options before signing the loan contract.