Important: Green Touch currently publishes general consumer information. We do not offer or broker loans, determine eligibility, collect applications, or guarantee funding.
What is a payday loan?
A payday loan is a short-term loan often due around the borrower’s next payday. Costs and availability vary by jurisdiction. Some states prohibit these loans or cap fees and interest.
Understand the cost
Look at the annual percentage rate (APR), finance charges and the amount due on the repayment date. Short repayment periods can make these loans expensive.
Before taking a payday loan
Consider a payment plan with creditors, assistance programs, a small credit-union loan or other lower-cost solutions. Only borrow what you can repay on time.