Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, payday loans are generally offered through a Credit Access Business (CAB) model. Instead of just paying interest to a lender, you pay a CAB fee to the business that arranges the loan, plus interest to the third-party lender. Because of this structure, the Annual Percentage Rate (APR) for payday loans in El Paso can be significantly higher than traditional bank loans. Under El Paso city ordinances, your maximum loan amount cannot exceed 20% of your gross monthly income. Lenders are required by Texas law to provide a comprehensive disclosure of all fees and the true APR before you sign any loan agreement. Carefully review these documents so you understand the exact cost of your loan.
Annual Percentage Rate (APR)
200% - 450%+
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $200 | 14 Days | 410.00% | $45.00 | $245.00 |
| $400 | 14 Days | 410.00% | $90.00 | $490.00 |
| $600 | 14 Days | 410.00% | $135.00 | $735.00 |
Representative example only. The actual rates, fees, and terms you are offered may vary based on your lender, your specific financial situation, and state regulations. We are not a lender and do not dictate these fees.
State-Specific Information — Texas
Maximum Loan Amount: Up to 20% of the borrower's gross monthly income, per El Paso city ordinance.
Rate Cap: Texas does not have a strict statewide APR cap for payday loans structured through Credit Access Businesses (CABs), meaning APRs often range from 200% to over 400%. However, CABs must disclose all fees clearly.
Regulations: In addition to Texas state regulations, El Paso city ordinance limits rollovers to three times, requiring a 25% principal reduction with each installment.
Licensing: Lenders and Credit Access Businesses operating in Texas must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).