This stands for
Annual Percentage
Rate and is the
yearly rate charged
to a consumer to
borrow or finance
money. The APR is
normally expressed
as a percentage.
Cash
Advance (Paycheck
Loan):
An
amount of money
borrowed until payday.
Also see our frequently
asked questions.
Due
Date (Or Payback
Date):
This
is when the loan
amount you have
borrowed is due
for repayment. In
some cases these
loan amounts can
be extended creating
what is referred
to as a "rollover".
Keep in mind rolling
over loan amounts
will result in extra
financing charges.
Typically $50 per
rollover depending
on the loan amount.
Finance
Charges (Borrowing
Cost):
In
United States law,
a finance charge
is any fee representing
the cost of credit,
or the cost of borrowing.
It includes not
only interest but
other charges as
well, such as financial
transaction fees.
Details regarding
the federal definition
of finance charge
are found in the
Truth-in-Lending
Act and Regulation
Z, promulgated by
the Federal Reserve
Board.
Interest
Rate (Fee On Borrowed
Capital):
Interest is a fee,
paid on borrowed
capital. Assets
lent include money,
shares, consumer
goods through hire
purchase, major
assets such as aircraft,
and even entire
factories in finance
lease arrangements.
The interest is
calculated upon
the value of the
assets in the same
manner as upon money.
Interest can be
thought of as "rent
on money".
For example, if
you want to borrow
money from the bank,
there is a certain
rate you have to
pay according to
how much you want
loaned to you.
Issuer
(Company Providing
The Loan):
A legal entity that
develops, registers
and sells securities
for the purpose
of financing its
operations. Issuers
may be domestic
or foreign governments,
corporations or
investment trusts.
Issuers are legally
responsible for
the obligations
of the issue and
for reporting financial
conditions, material
developments and
any other operational
activities as required
by the regulations
of their jurisdictions.
The most common
types of securities
issued are common
and preferred stocks,
bonds, notes, debentures,
bills and derivatives.
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