What Is a Short-Term Loan? Types, Real Costs, and Cheaper Options
See every type of short-term loan, real APR ranges for each, and which ones cost least before you borrow.
By Derrick Washington
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Borrow Smarter
Reporting, analysis, and plain-language explainers on payday loans, state rules, credit scores, and the lower-cost alternatives most borrowers never hear about.
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See exactly how a payday loan works, from application to the fee you\
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Payday Loan APR Explained: Why "$15 per $100" Is a 391% Loan
Payday loan APR explained in plain math: a $15 per $100 fee is a 391% APR. See the formula, why federal law shows it, and what it means if you roll over.
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