Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, most payday loans are facilitated through Credit Access Businesses (CABs). Under Texas law, the actual interest rate charged by the third-party lender is capped at 10%. However, CABs charge significant fees for arranging and guaranteeing the loan. These fees are not capped by state law, which means the effective Annual Percentage Rate (APR) on a short-term payday loan in Bryan can be substantial, often exceeding 400%. We are a matching service, not a direct lender, so we do not dictate these fees. Your matched lender will provide a transparent loan agreement detailing the specific interest rate, CAB fees, and the total cost of your loan. It is critical to read these terms carefully before signing.
Annual Percentage Rate (APR)
APR varies heavily by lender and loan type. In Texas, CAB fees often result in effective APRs exceeding 400%.
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $300 | 14 Days | 450% | $60 | $360 |
| $500 | 14 Days | 425% | $95 | $595 |
| $1,000 | 30 Days | 250% | $200 | $1,200 |
Representative examples only. The specific APR, CAB fees, and terms you are offered will vary based on your lender, your creditworthiness, and state regulations. We are not a direct lender and do not charge you for our matching service.
State-Specific Information — Texas
Maximum Loan Amount: Not strictly capped by state law, but lenders commonly limit loans to $1,500 or 20% of the borrower's gross monthly income.
Rate Cap: No statewide APR cap; typical Texas payday loan APRs range from 400% to over 600% due to CAB fees.
Regulations: Texas does not cap payday loan fees, leading to high-cost loans structured via Credit Access Businesses (CABs). Borrowers are advised to use these loans solely for short-term emergencies.
Licensing: Lenders and Credit Access Businesses (CABs) must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).