Personal Loans
Easy Money EMG works harder to Say YES! To get you the funds you need.
Line of Credit
Similar to a credit card, it gives you the ability to access funds when you need them. You can take an advance against your credit line, pay down, and borrow more as you need it, up to your credit limit.
Online Line of Credit Questions:
How much money can I borrow?
Residents may be eligible to receive a credit line up to $5,000.
How much does an advance cost?
The Easy Money Line of Credit accrues interest daily, but your minimum payment will be based on the greater of: all unpaid Interest Charges that have accrued as of the Closing Date of the Billing Cycle, plus ten percent (10%) of the outstanding Advance principal balances up to $1,000.00 or five percent (5%) of the outstanding Advance principal balances in excess of $1,000.00 or more; or (ii) $50.00. Remember, by paying on time or paying more than the minimum balance, you can save money and have more credit available when you need it.
When will my loan be due?
We want to make this convenient for you. You can choose to schedule automatic payments on your statement due date or can choose to have your statement’s minimum payment divided and presented on your pay dates. Choosing the pay date option makes it generally easier to manage your budget.
How can I get more cash?
As long as your Easy Money EMG online Line of Credit is active, you will be able to take advances up to your credit limit at anytime. When you pay down your advances, you immediately get access to more funds.
Easy Money EMG
Itemization of Charges – Revolving Credit
Interest Rates and Interest Charges |
|
|---|---|
Annual Percentage Rate (APR) for Advances |
For balances up to $5,000, between 179.00% and 701.5625%, depending on your creditworthiness. |
Paying Interest |
We will begin charging interest on advances on the transaction date. |
Fees |
|
|---|---|
Set-up and Maintenance Fees |
|
|
Account Set-up Fee Annual Fee |
$9.95 (one-time fee) $24.95 |
Transaction Fees |
|
| Advance Fee | Either 10% or $1 of each Advance, whichever is greater. |
Penalty Fees |
|
|
Late Payment
|
$30 |
Other Fees |
|
|
Credit Limit Increase Fee Paper Statement Delivery Fee |
$4.95 each time we agree, at your request, to increase the credit limit. $9.95 for each paper statement we print and mail to you, if you cancel or |
Interest Charges for Advances
Your Account is subject to Interest Charges (periodic rate Finance Charges). The Interest Charges for Advances are based on the Annual Percentage Rate(s) and corresponding Daily Periodic Rate(s) we include in your Account Opening Disclosures. We figure the Interest Charges on your Account by applying the Daily Periodic Rate to the “Daily Balance” of unpaid Advances in your Account for each day in the Billing Cycle. To get the “Daily Balance,” we take the beginning balance of your Account each day, add any new Advances, and subtract any unpaid Interest Charges, Fees and Other Charges, and any payments or credits. This gives us the “Daily Balance.” Then, we multiply the Daily Balance for each day by the Daily Periodic Rate to obtain the “Daily Interest Charge” for the day, rounding the Daily Interest Charge to the nearest whole cent. At the end of each Billing Cycle, we add together the Daily Interest Charges for each day in the Billing Cycle to determine the total Interest Charges due for your Account during the Billing Cycle.
Exclusively in Louisiana
Large Consumer Loans
We are proud to have been the originator of the $500 consumer loan in the State of Louisiana. We appropriately call this a Large Consumer Loan or “LCL”. This loan is typically larger than a personal loan and it has a 31-day term, giving customers more money and more time to repay.
LCLs are often used to help with:
- Medical care or expenses
- Car repairs
- Critical household maintenance
- Educational needs
| Max amount: | $500.00 |
|---|---|
| Term: | up to 31 days |
| Fees: | $95.00 Total = $595.00 |
| Minute Money: | $9.95 In-store $4.95 Online |
Product Fee Schedule – Large Consumer Loans
| Financed Amount | $400.00 | $450.00 | $500.00 |
|---|---|---|---|
| Finance Charge | $25.00 | $25.00 | $25.00 |
| Doc Fee | $20.00 | $20.00 | $20.00 |
| Origination Fee | $30.00 | $40.00 | $50.00 |
| Total Fee | $75.00 | $85.00 | $95.00 |
| Annual Percentage Rate | 220.77% | 222.40% | 223.71% |
| Total Amount Due | $475.00 | $535.00 | $595.00 |
*Example assumes exact period terms for Weekly, Bi-Weekly, Semi-Monthly and Monthly pay cycles. The finance charge includes fees charged.
*Examples listed MAY have an OPTIONAL fee assessment for Minute Money tm services of $9.95. See associate for details.
*Examples listed MAY have an OPTIONAL fee assessment for Wire Transfer services of $9.95. See associate for details.
*Examples are assumed based on exact on time payments. Finance charges will differ from examples if payments are made before the scheduled due date or after the scheduled due date.
Personal Loans
Personal loans are typically small, very short-term lending solutions geared towards virtually any adult borrower with verifiable income, irrespective of income source or credit standing.
Personal Loans are often used to help with:
- Medical care or expenses
- Car repairs
- Critical household maintenance
- Educational needs
| Max amount: | $325.00 |
|---|---|
| Term: | up to 30 days |
| Required: |
|
| Fees: | $100.00 Total = $600.00, 2 Checks. Largest check $325.00 loan is $380.00 |
| Minute Money: | FREE (a $9.95 value) Provide your debit/check card info to get IMMEDIATE access to your funds. No wait! |
Product Fee Schedule – Personal Loans(14 Days)
| Financed Amount | $100.00 | $150.00 | $200.00 | $225.00 | $250.00 | $300.00 | $325.00 |
|---|---|---|---|---|---|---|---|
| Finance Charge | $20.00 | $30.00 | $40.00 | $45.00 | $45.00 | $45.00 | $45.00 |
| Doc Fee | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 |
| Total Fee | $30.00 | $40.00 | $50.00 | $55.00 | $55.00 | $55.00 | $55.00 |
| Annual Percentage Rate | 782.14% | 695.24% | 651.79% | 637.30% | 573.57% | 477.98% | 441.20% |
| Total Amount Due | $130.00 | $190.00 | $250.00 | $280.00 | $305.00 | $355.00 | $380.00 |
ATTENTION: A Short Term Personal Loan is a financial solution that provides an alternative to returned checks or paying late fees. Short Term Personal loans are used to cover short‐term financial situations ‐ they are not a long‐term financial solution. If a consumer is unable to repay their deferred presentment transaction when due, the consumer may enter into one extended payment plan for their deferred presentment transaction annually if he/she notifies the licensee as required by Paragraph (B)(1) of the Louisiana Revised Statues of Chapter 2 for the Louisiana Consumer Credit Law before the payment is due of his/her inability to make payment. You may contact the Office Of Financial Institution at 1‐888‐525‐9414.
*Example assumes exact period terms for Weekly, Bi-Weekly, Semi-Monthly and Monthly pay cycles. The finance charge includes fees charged.
*Examples listed MAY have an OPTIONAL fee assessment for Minute Money tm services of $9.95. See associate for details.
*Examples listed MAY have an OPTIONAL fee assessment for Wire Transfer services of $9.95. See associate for details.
*Examples are assumed based on exact on time payments. Finance charges will differ from examples if payments are made before the scheduled due date or after the scheduled due date.