Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, payday loans are typically facilitated through Credit Access Businesses (CABs). These entities charge a service fee in addition to the interest charged by the third-party lender. Under Texas law, there is no state-mandated cap on the fees a CAB can charge, which often results in high APRs. We encourage all Humble residents to review the 'Consumer Disclosure' provided by lenders, which outlines the total cost of credit. Loans are intended for short-term financial needs and should not be used as long-term solutions.
Annual Percentage Rate (APR)
200% - 600% (Varies by lender and CAB fees)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $500 | 14 Days | 390% | $75 CAB Fee + $2.15 Interest | $577.15 |
| $1,000 | 30 Days | 410% | $200 CAB Fee + $8.22 Interest | $1,208.22 |
| $300 | 14 Days | 450% | $45 CAB Fee + $1.29 Interest | $346.29 |
This is a representative example of typical Texas CAB loan costs. Actual APRs and fees vary significantly based on the lender you are connected with, your income, and the loan amount. Always read your specific loan agreement for exact figures.
State-Specific Information — Texas
Maximum Loan Amount: No statutory limit (typically limited by lender policy to 20-35% of monthly income).
Rate Cap: No statutory cap on fees; interest capped at 10% (fees provide the bulk of the cost).
Regulations: Texas Finance Code Chapter 393 (Credit Services Organizations/CABs)
Licensing: Lenders and CABs must be licensed by the Texas Office of Consumer Credit Commissioner.