From start to finish, its site is designed to guide you to the information you need in order to make an informed decision. There are not only research tools directly on the site, but lending specialists and customer service representatives ready to help guide you through the process of getting funding when you need it most.
GreenTrustLoans is not a direct lender. Instead, it’s a service that connects borrowers’ needs with short-term and payday lenders in its network.
When you complete an application with GreenTrustLoans, you enter your personal and financial details. If you qualify for a loan, GreenTrustLoans connects you with a lender that it thinks best fits your financial needs.
Once connected to a lender, you review the terms and conditions of your specific loan offer and receive your funds in as little as one business day.
GreenTrustLoans uses encryption to make sure your personal and financial information is secure on its website. It’s important to note that as a loan connection service, GreenTrustLoans may share your contact information with third-parties for marketing purposes.
Please borrow responsibly and only if you will be able to pay the money back. Before agreeing to a loan, please make sure you can make your loan payments in full and on time. We support the responsible use of loans and recognize that nobody knows your situation better than you.
When you apply for a payday loan, you’ll typically see the amount you want to borrow and the amount you need to repay — which could be anywhere from $10 to $30 for every $100 you borrow. So the lender may advertise that their fees are around 15% to 30%.
The lender is also required to clearly display the loan’s APR online so that you’re able to compare it to other types of credit that have repayment terms of a year or longer. Because payday loans come with such short repayment terms — usually between two weeks and a month — it can bring the APR up quite a bit.
For example, if you take out a loan of $100, pay a $15 fee and your repayment terms are two weeks, that results in an APR of around 390%.