Will efforts by the federal government to shut down payday lenders also affect installment lenders? It’s an important question, and one that the government doesn’t have an answer for as of yet. Installment loans and payday loans are two very different products. They have different terms, different rates, different fees, and different ways of doing…
Should You Pay a Fee to Apply for a Loan?
Should You Ever Pay a Fee to Apply for an Installment Loan? In a nutshell – NO! That is a bit of an oversimplification, though. The world is filled with many different kinds of lenders, and each of them have different standards and practices. For example, if you are applying for a home loan, or…
How a Small Dollar Loan Can Start an Empire
Recently, Presidential candidate Donald Trump has been under fire for claiming he started his career with a small dollar loan of $1 million from his father. Some dispute the amount of the loan, while others simply think that a loan of that much money can’t possibly be considered “small.” In our book, a million bucks…