Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Dallas, TX, payday loans are regulated by both state law and specific city ordinances. Lenders often operate as Credit Access Businesses (CABs), charging both interest and service fees. Under Dallas City Ordinance Section 28-164, a payday loan cannot exceed 20% of the borrower's gross monthly income. For installment loans, the limit is 20% of the borrower's gross monthly income for the first payment. It is critical to review the specific fee schedule provided by your matched lender before signing.
Annual Percentage Rate (APR)
200% - 600%+ (Varies significantly by lender and Credit Access Business fees)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $500 | 14 Days | 410% | Interst: $1.81 + CAB Fee: $75.00 | $576.81 |
| $1,000 | 30 Days | 390% | Interest: $7.40 + CAB Fee: $150.00 | $1,157.40 |
| $200 | 14 Days | 450% | Interest: $0.72 + CAB Fee: $30.00 | $230.72 |
REPRESENTATIVE EXAMPLE: A $500 loan for 14 days with a total finance charge of $76.81 would result in an APR of approximately 400%. This is for illustrative purposes only. Actual rates, fees, and terms are determined solely by the lender and are based on your creditworthiness and state/city regulations.
State-Specific Information — Texas
Maximum Loan Amount: 20% of borrower's gross monthly income (Dallas Ordinance)
Rate Cap: No state-wide cap; limited by City of Dallas ordinances on principal reduction and income percentage
Regulations: Dallas City Ordinance 28-164; Texas Finance Code Chapter 393 (Credit Access Businesses).
Licensing: Lenders must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).