Payday loans, text message loans, telephone loans, online loans or short-term loans are different names for what is essentially the same product. Lenders that provide Arizona payday loans are growing. In 2005, there were around 650 cash advance locations. Now, it's more than triple that number. In fact, there are more online payday lenders in Arizona than there are McDonalds or Starbucks branches.The way fees and interest are charged on payday loans is also different. Many times, payday loans don't speak of interest or annual percentage rates at all. Instead, you're charged a flat fee. That means you might pay $50 in fees on a debt of $300 that you carried for just two weeks. If you convert that fee to APR, it's a 434% interest. That's well above the rates for most installment loans.
A secured home improvement loan is where you take a loan out against your home if you're a homeowner or you have a mortgage. This is known as a homeowner loan or a home equity loan. You borrow the money against the equity or value of your home.
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