Rates & Fees

The rates and fees associated with your short term cash loan will ultimately be determined by your lender, but there are many similarities throughout the entire cash loan industry. It is the goal of SunsetLoans to provide a guarantee that you will deal with only those lenders who agree to follow Federal and state lending guidelines. We also provide plenty of resources and information to help you deal with any issues that may arise with the lender you select.

Cash Loan Basics

SunsetLoans has worked hard to provide you with articles, resources and other information that is designed to help you have the best experience possible when it comes to obtaining short term cash loans. This includes information about the rates and fees associated with loans, scams that you should familiarize yourself with, and the best ways to use cash loans responsibly. We have provided links to the Federal Trade Commission and the Consumer Financial Protection Bureau. These agencies exist to help regulate the cash loan industry, prevent unfair debt collection procedures and ensure that you are not discriminated against when it comes to obtaining a short term cash loan.

Implications of Late Payment

If you are unable to repay your loan on time, you are urged to contact your lender as soon as possible. Late payment fees are set by the lender according to your state’s regulations, and each lender has its own policy on how to handle late payments. Short term loan lenders may take several courses of action in case of late payment. It is advised that you review all of the documentation you receive from your lender before signing the loan agreement in order to get an understanding of what will happen if your payment is late.

Implications of Non-Payment

Disclosure of Fees Including the APR

The APR is the annual percentage rate for a loan and represents the loan cost as related to the repayment timing and the amount of loan taken out. The APR for short term loans ranges from 260.71% to 1,825.00%. Though the APR for short term loans is higher than traditional loan APRs it is still less than interest rates charged for bounced checks or overdraft fees. Please see the table below to compare your options for $100 loan extension for 2 weeks.

Product Type (single repayment) Charge APR
NSF + Bounced Check $45.00 1,173.21%
Overdraft Fee $30.00 782.14%
Late Fee $20.00 521.43%
Small Dollar Loan $10.00 260.71%

State Regulations

Every lender in our network is required to adhere to Federal law and state regulations as they apply to short term cash loans. States typically govern whether or not short term loans are allowed, the maximum amount that may be loaned and the amount of finance charges and interest that a lender can charge. Some states set limits on the number of loans that may be outstanding at any given point in time as well as the number of extensions that are available to consumers. Listed here are the states, the maximum loan amounts, and the regulations as they apply.

We are confident that our friendly and knowledgeable customer service staff, secure website, and lightening-fast response time, will leave you highly satisfied with your experience at SunsetLoans.