Cash advance companies determine their fees differently that traditional financing companies. Instead of being charged a rate, you will be charged a flat financing fee. Since cash advance companies structure their loans differently, they have to adjust how they determine fees. However, even cash advance companies determine their rates in their own way. So shop fees for the best payday loan.

Fees Instead Of Rates

Since payday loans are for such a short period, typically less than two weeks, financing companies structure the loan cost as a flat fee. There are no application costs or daily interest charges with most lenders.

But the federal government still requires cash advances