Users of this website may use for free our online form, search facility, and connecting service. There is no charge and no limit to the number of times you can fill in and submit the form nor any cost for contacting or not contacting the lender with whom you are connected.
As your contact is private and unknown to us, we are unable to provide any specific loan rates or fees offered by the lender with whom we partner. However, all your loan information, such as charges, payment schedules and terms and interest rate, are clearly defined in every loan agreement.
Every lender has their rates and fees that apply to your loan, and that comply with the laws and regulations in your state. OnlineLoansYouNeed ensures that you deal with lenders who do business within federal and state laws.
OnlineLoansYouNeed.com provides a lot of information, resources, and links related to the lending industry and in particular online lending. This will help you understand short-term loans and personal lending and address issues that may arise.
To ensure you get the most relevant information, OnlineLoansYouNeed.com has supplied documents, articles, resources, and links that will help you understand the process of applying for short term cash loans. Included in the information provided are average rates and fees that are applied to short-term loans, the regulations in different states, and responsible borrowing tips.
The OnlineLoansYouNeed.com website contains general information about online personal loans that will include average rates, possible fees that might be charged, the way these loans work, and a list of regulations for different states.
The APR, Annual Percentage Rate, is the interest you will pay on your loan over a year. Short term cash APRs range from 200% to 2,290% depending on how the rate is calculated. This rate is higher than average consumer credit, but the loans are designed to be repaid in a short period, so the actual interest rate you would pay is comparable to bank overdrafts and dishonored checks.
The table below shows the charges applied to a $100 loan that has been extended for two weeks. This will show more clearly how interest calculations are made.
|Product Type (single repayment)||Charge||APR|
|NSF + Bounced Check||$45.00||1,173.21%|
|Short Term Loan||$10.00||260.71%|
All the lenders that work within the OnlineLoansYouNeed.com network comply with federal laws and state regulations that apply to the online personal lending industry and short-term loans. States regulate some things that apply to these forms of lending:
The states listed below show their maximum loan amounts and the regulations they have in place. State regulations are subject to change, and the list provides only general information applicable to each state. Official government website links have been provided at the bottom of the page to enable you to check current regulations in each state.
|State||Loan Amount||Additional Provisions|
|Alabama||$500||Finance charges may not exceed more than 17.5% of the total loan amount.|
|Alaska||$500||Finance charges may not exceed more than 15% of the total loan amount, and lenders can charge a discretionary $5 origination fee.|
|California||$300||Finance charges may not exceed 15% of the total loan amount.|
|Colorado||$500||Lenders are permitted to charge a $30 maintenance fee for each month that the loan is unpaid. The APR associated with loans may not exceed 45%. Finance charges may not exceed 20% on the first $300 of the loan and 7.5% on amounts between $301 and $500.|
|Delaware||$500||There are no further regulations in Delaware.|
|Florida||$500||Lenders may charge a reasonable verification fee at their discretion. Finance charges may not exceed 10% of the total loan amount.|
|Hawaii||$600||Finance charges may not exceed more than 15% of the total loan amount.|
|Idaho||$1000||There are no further regulations in Idaho.|
|Illinois||$1000 or 25% of Gross Monthly Income||Finance charges may not exceed 15.5% of the total loan amount.|
|Indiana||$50 Minimum or $500 Maximum||Finance charges may not exceed 15% of the first $200, 13% on amounts between $251 and $400, and 10% on amounts between $401 and $500.|
|Iowa||$500||Finance charges may not exceed 15% for the first $100 of the loan and 10% on the remaining amount of the loan.|
|Kansas||$500||An administrative fee may be charged at the lender’s discretion. Finance charges may not exceed 15% of the total loan amount.|
|Kentucky||$500||No more than two loans are permitted at any given time, and these loans may not exceed the state maximum. Finance charges may not exceed more than 15% of the total loan amount.|
|Louisiana||$350||Finance charges may not exceed 16.75% of the total loan amount.|
|Maine||–||There are no loan limits or state regulations in Maine.|
|Michigan||$600||Finance charges may not exceed 15% of the first $100, 14% for the next $100, 13% for the third $100, 12% for the fourth $100 and 11% for the fifth and sixth $100. Administrative fees are also allowable.|
|Minnesota||$350||Finance charges may not exceed 5.5% on the first $100, 7% for amounts between $101 and $250, and 6% on amounts between $251 and $350. Administrative fees are also allowable.|
|Mississippi||$400||Finance charges may not exceed 18% of the total loan amount.|
|Missouri||$500||Any finance charges or interest is allowable as long as the total fees do not exceed 75% of the total amount of the loan.|
|Montana||$50 Minimum and $500 Maximum||Finance charges cannot exceed 36% of the total loan amount.|
|Nebraska||$500||Finance charges cannot exceed 15% of the total loan amount.|
|Nevada||No More than 25% of Gross Monthly Income||There are no additional regulations in Nevada.|
|New Hampshire||$500||Finance charges may not exceed 6% of the total loan amount.|
|North Dakota||$500||Finance charges cannot exceed 20% of the loan amount.|
|Ohio||$500||Finance charges may not exceed 28% of the total loan amount.|
|Oklahoma||$500||Finance charges cannot exceed 15% on the first $300 and no more than 10% on any remaining loan amount.|
|Oregon||No More than 25% of Gross Monthly Income||Origination fees of up to $30 are allowable. Finance charges may not exceed 36% of the total loan amount.|
|Rhode Island||$500||Finance charges cannot exceed 15% of the face value shown on the provided check.|
|South Carolina||$550||Finance charges cannot exceed 15% of the total loan amount.|
|South Dakota||$500||No additional regulations in South Dakota.|
|Tennessee||$500||Finance charges may not exceed 15% of the total loan amount.|
|Utah||–||No minimum loan amounts or regulations in Utah.|
|Virginia||$500||Verification and origination fees are allowable. Finance charges may not exceed 15% of the total loan amount.|
|Wisconsin||–||No loan limits or regulations in Wisconsin.|
|Wyoming||No Maximum||Finance charges may not exceed $30 or 20% of the principal balance, whichever is less.|
This link is to the official website where you can get all the necessary information about your state’s regulations.
The status and terms of online personal loans are regulated differently in states. You can find detailed information in this report about maximum loan amounts, loan fees and additional terms in each state.
Please Note: We are unable to provide you with specific details of any particular loan offer or deal. Your lender will always be able to provide you with all the necessary information about your loan. Before signing your loan agreement, it is strongly recommended that you look at all the information provided about rates and fees, mainly your APR, fees for payment defaults such as late and non-payments, other loan charges, penalties and terms applicable to your loan offer.
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OnlineLoansYouNeed is not a lender and therefore is not part of any decision making associated with lending or offering loans.We are an online service that connects borrowers and lenders. We do not charge any fees for this service. The user has the right to review the terms and condition before accepting any loan product or service offered. OnlineLoansYouNeed does not endorse any particular lender. We don’t store or access information about fees and charges associated with any loan offers. Not all states allow short-term loans, so the potential borrower needs to check that information. OnlineLoansYouNeed cannot guarantee that a user of our website will be approved for any loan product, nor can we ensure that you will be connected with a lender, or if they will provide you with a loan as per your online form request. Loan products can vary in their terms and conditions and can depend on numerous factors. These may include but not be limited to your state of residence and your credit standing as well as the terms applied by individual lenders.