Small cash loans for 200, 300, 400, 500 and up to 1000 dollars are extremely common and sought after by online borrowers and applicants in the new Internet lending market, and we have not really focused on these kinds of small loans yet here at Californialoanfind.com. We have always recommended avoiding payday lenders and that is why we recommend getting a normal installment loan with normal payments over 12 months to 24 months (2 years).
In fact our editors have mostly filed applications away if they were below $1000 or $2000. So we are now going to start posting these applications at CLF.
One of the reasons we didn’t focus much attention on borrowers who are applying for small loans in the range of $200 – $1000 is because the APR charged by these lenders is usually astronomical.
The providers of small loans are usually charging rates between $10-$30 for every $100 they lend out online or from their store fronts, and the cost to their customers when they roll their loans over a month is insane frankly.
So we didn’t want really promote these lenders here. Unfortunately, we have to face the fact that these kinds of loans are going to be around long into the future, so we can at the very least track down, review, recommend the fairest small loans online. As per the norm here at CLF, we will include an application from a borrower who was looking for a small loan in the 200-500 dollar range, and we will include the costs of the loans calculating from one particular lender that we are close to recommending for this kind of product.
Small Loan Paid Back in 90-100 Months – 3 Mo. Installments
The other request that this borrower was looking for was that she needed to pay the cash back over a 90-100 day period. This is one of the reasons we directed her to this particular lender, because their specialty is providing small loans between $50-$1000 to consumers in most of the States. Our borrower lives in California of course, so this lender worked for her.
This lender allows their customers to pay back their loan over a 90-100 day period, and actually sometimes longer if the borrower rolls over, but you just don’t want to even go there because the fees start to spiral out of control. DON’T roll over please!
At the bottom of this post we outline the costs of the different loan amounts, and what each one of them costs for the full term of the advance. We use the same lender in this entire entry. We use the following advance amounts;
- $100 small loans
- $200 small loans
- $300 small loans
- $200 small loans
- $200 small loans
Small Loan for $200, $300, $400, $500 – Lender Comparisons and Brokering
We were looking for a lender that acts as a broker between applicants and lenders – one that had an up-to-date database that compared interest rates of the all the small loan providers, and gave our borrowers the lowest APR possible at the time of the application being processed. We will get into the details of the lender we used for this applicant below, but first let us get into the actual short-form request first. We will use a table format below for all of the borrower’s data.
This borrower lives in the suburb of Inglewood which is Los Angeles, and works for a small florist in the area. She’s a manager so she is making a decent living at a little over $2600 take home pay a month. Her DTI is reasonable, and her FICO score is not that bad either after checking with Experian, TransUnion, and Equifax. These credit bureaus are the the main three credit reporting agencies you need to be aware of. With that information know, she went ahead made this quick request for a small loan.
Small Cash Loan for $200, $300, $400, $500 – Installment Pay Back Over 90 Days
Here is the pre-app for the borrower and it has some details one why she wanted the loan and why she only needed a small amount deposited into her checking account. Keep in mind that she did not care if the lender used the Teletrack system because she has a clean record with lenders.
You want also understand your normal credit rating is not the only parameter that lender use when they are processing a rather small loan request such as the ones we’re discussing today.
They will usually use the Teletrack system first and then look at their conventional credit rating resources and make a qualification decision based on both sets of data.
Of of the biggest problems this small loan provider come across is there are unscrupulous borrowers that are trying to perpetuate a scam on them by never intending to pay back the loan – ever. This the reason why the APR on small cash loans is so high. The lenders are trying to limit their liability on their out-going debt load in comparison with their incoming repayment from customers. It’s not always the case that the lenders who deal in these loan products are the ones taking part in a predatory scam.
You have to be aware of what these small loans can cost in interest, and after reading this information and studying the tables you will know how much money you will be paying back on any small advance ranging between 100 and 1000 dollars. Our business to try and keep borrowers informed, and prepared for the interest they are going to be on the hook for when it comes time for repayment – you don’t want any surprises when it comes to your bank account(s) and you want to fully appreciate the fee structures of all the lenders you apply with.
So now that we have seen the application from the borrower, we want to look at what this particular lender charged her in the way of fees and interest on the loan. The lender in this case is 100dayloans.com and we are using the information and fee structure data from their site to figure the cost of this all out for the different possible small loans. This may change of course because we don’t have any real control of their web site – I’m sure you get that!
So this table here shows what you are actually likely to pay for a loan between $100-$500. The table below shows how much you would be paying in APR. Some fee structure as below, but you can see the actual annual percentage rates being applied on these small notes.
Can you see the pattern here? Like all of the lenders we review or point out at CLF, we want to see the actual detail in regards to the APR on the loan, and especially with these smaller loans. You can see that there are three key APR numbers to keep your eye on – 180%, 252%, and 312%.
Now these APR amounts can climb even as high as coming in at over 500%. You avoid this kind of interest by NEVER being late on repayment and making sure none of your checks ever bounce. We always recommend that you avoid taking out loans repeatedly unless you are very confident in your future earning projections.
This lender is actually a middle of the road company in regards to you costs on their small loan products – there are some companies that approve loans 100% online and they never charge less than $30 for every $100 borrowed, AND then you start ticking the interest UP from there! Once again though, a reminder is in order here. Online payday loan companies are targeted by scammers know as loan skippers who give false information and keep moving physically and electronically so avoid getting caught. This is why 100% online lenders charge such high rates.
Hope this helps you understand your options when getting a small loan, and we recommend using our installment loan option here on this page for $100 – $1000 on first loan (choice #3) – monthly payments for up to 2 years on these products.
Small Loan Application Example:
Applicant varying amount to be deposited into her checking or savings account.
Small Cash Loan Amount :: 200, 300, 400, 500 or up to one thousand if I can get approved for this.
Small Cash Loan Speed :: I need at least $500 dollars quickly, but I could use any amount really at this time.
What City/Town, State, and County do you live in? :: Los Angeles, California in Inglewood
Zip :: 90305
Active duty military personal? :: No
What is your employment industry and how long in this field – detail please? :: I have worked in various retail stores such as Home Depot and Lowes and now I work
for a small florist company L.A. – they sell organic florals and silk arrangements. I have been with the same employer for 4 years now and presently don’t have any
plans to leave this job. In other words, you will be certain to get this small advance paid back with interest on time.
Employment Position :: Store manager
When are you paid? :: Monthly – Last Thursday of each month
What would you consider your credit rating to be – excellent, great, good, fair, bad? :: Fair
How did you find us? :: Yahoo! search tool
Bank name :: Wells Fargo
Bank branch :: South Market Street
How are you paid? (eft, direct deposit, paper check) :: Paper check
Gross Amount Per Paycheck :: $2600
Do not include ABA or bank routing numbers here. This is for your personal security. Do not enter social security numbers here. Do you agree to have this application information published online with your PRIVATE info removed? :: You were more than welcome to go ahead with the application on CLF – of course I need to you to
redact any of my critically personal information.
Any extra information here please :: I need this small loan to be done really fast because it’s being used to pay for some clothing I need for my kids. They are so due for some new clothes and I promised them I would take them shopping this weekend. If I could get even $300-$500 dollars that would make it for me and my children.
These are not expensive clothes but rather just the basics. Luckily my daughter and two boys are not that caught up in designer labels or anything like that.
Note to Lender – Please add any information you are comfortable with sharing regarding this loan :: I checked my credit rating here at CLF using the link at the top of the page for getting your credit score delivered by email. I was surprised to find out that my credit rating was actually pretty good even after I missed one payment on my Wells Fargo credit card last summer.
Have you ever defaulted or bounced a check with a payday cash advance loan in the past? :: No – I would never completely walk away from my financial responsibilities. Back to top of page
Small Loan Fees – $100, $200, $300, $400, $500
These are the different fees that are associated with all five small loan amounts.
Loan Amount
Lowest Fee
Medium Fee
Medium Fee
$100
$15
$21
$26
$200
$30
$42
$52
$300
$45
$63
$78
$400
$60
$84
$104
$75
$105
$130
As you see above in the table these are the fees, and the table below shows the APR on all of these smaller loan amounts.
Small Loan APR (interest) – $100, $200, $300, $400, $500
APR (annual percentage rates) for the five loan request under $500
Small Loan Amount
$100
$200
$300
$400
$500
Lowest APR
180%
180%
180%
180%
180%
Medium APR
252%
252%
252%
252%
252%
Highest APR
312%
312%
312%
312%
312%
Lowest Repaid
$115
$230
$345
$460
$575
Medium Repaid
$121
$242
$363
$484
$605
Highest Repaid
$126
$252
$378
$504
$630