APR Explained

An annual percentage rate (APR) is the annual rate charged for borrowing and is expressed as a percentage that represents the actual yearly cost of funds over the term of a payday loan. APR is the combination of the nominal interest rate and any other costs or fees involved in procuring the loan.

The APR on cash advance can range from 200% to 2,290% depending on: how the APR is calculated (nominal vs. effective), the duration of the loan, loan fees incurred, late payment fees, non-payment fees, loan renewal actions, and other factors. Keep in mind that the APR range is not your finance charge and your finance charge will be disclosed later on, if applicable. Alternatively, See a Representative Example.

LendingWing.com is not a lender and does not provide short-term loans but refers consumers to lenders who may provide such loans. For this reason, we are unable to supply you with an exact APR that you will be charged if you are approved for a cash advance. APRs vary according to the information supplied by you in your payday loan request and your lender. You will be given the APR, loan fees, and other terms by your lender when you are redirected to your loan agreement in the loan request process.

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The operator of this website is not a lender, loan broker or agent for any lender or loan broker. We are an advertising network service to independent, participating lenders and other advertising networks that may be able to provide amounts between $100 and $1,000. Not all lenders provide up to $1,000 and there is no guarantee that your request will be accepted by an independent, participating lender. This service does not constitute an offer or solicitation for loan products which are prohibited by any state law. This is not a solicitation for a particular loan. We do not endorse or charge you for any service or product. Any compensation we receive is paid by participating lenders or advertising networks and only for the advertising services provided. The offer you receive is based on the compensation we are paid and is not necessarily the offer with the best rates or terms.

This service and offer are void where prohibited. We do not control and are not responsible for the actions of any lender or advertising network. We do not have access to the full terms of your loan. For details, questions or concerns regarding your loan, please contact your lender directly. Only your lender can provide you with information about your specific loan terms, their current rates and charges, renewal, payments and the implications for non-payment or late payments. The information submitted by you on this website will be shared with one or more participating lenders or advertising networks. You are under no obligation to use our service to initiate contact with a lender, apply for credit or any loan product, or accept a loan from a participating lender. Cash transfer times and repayment terms vary between lenders. Repayment terms may be regulated by state and local laws. These disclosures are provided to you for information purposes only and should not be considered legal advice.

Some states have laws limiting the APR that a lender can charge you. APRs may range from 200% and 1386%. Loans from a state that has no limiting laws or loans from a lender not governed by state laws may have an even higher APR. The Annual Percentage Rate is the rate at which your loan accrues interest and is based upon the amount, cost and term of your loan, repayment amounts and timing of payments. Lenders are legally required to show you the APR and other terms of your loan before you execute a loan agreement.

Residents of some states may not be eligible for some or all short-term, small-dollar loans. Residents of Arkansas, New York, Vermont and West Virginia are not eligible to utilize this website or service. The states serviced by this website may change from time to time, without notice.

We do not make any credit decisions. Independent, participating lenders that you may be connected to may perform credit checks with credit reporting bureaus, obtain credit reports, or otherwise verify your Social Security Number. Typically, lenders may conduct a credit check through alternative credit bureaus to determine creditworthiness, credit standing and/or credit capacity. By submitting your information, you agree to allow lenders to verify your information and check your credit.

Loans provided by independent, participating lenders in our network are designed to be repaid within a short amount of time. Short-term loans are not a solution for long-term debt and credit difficulties. Only borrow an amount that can be repaid on the date of your next pay period. Consider seeking professional advice regarding your financial needs, risks and alternatives to short-term loans. Non-payment of your loan could result in collection activities. Late payments of loans may result in additional fees or collection activities, or both. Each lender has its own terms and conditions, and its own renewal policy. Please familiarize yourself with your lender’s policies for further information.