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Fee Schedule & Consumer Disclosures

Approved Money Center, LLC is a Credit Services Organization (“CSO”) and a Credit Access Business that assists consumers in obtaining Deferred Presentment Transactions (aka, Payday Loans) and Auto Title Loans through 3rd party lending organizations. A fee will be charged by the CSO for arranging the loan and interest will be a charged by the lender at rate not to exceed 10% per annum. The information below is based on a customer paying on time. Other fees a customer might have to pay are 1) late fees of the greater of 5% of the payment amount or $7.50 if the customer is in default 10 days or more and 2) a dishonored item charge of $30 if an ACH debit is not paid by your bank. Defaulting on an Auto Title Loan may result in the repossession and sale of your vehicle. You will be responsible for all costs associated with the repossession and sale of the vehicle. A title lien application fee will be charged to you for an Auto Title Loan in the amount of $28, $33 or $38, depending on the location of the Department of Motor Vehicles. Examples of our loan products are:

Payday Loan – 14 Day Term
Loan Amount Lender Interest CSO Fee Total Finance Charge APR
$300.00 $1.15 $69.00 $70.15 609.64%
$500.00 $1.92 $115.00 $116.92 609.65%
$700.00 $2.68 $161.00 $163.68 609.62%
Payday Loan – 30 Day Term
Loan Amount Lender Interest CSO Fee Total Finance Charge APR
$300.00 $2.47 $123.00 $125.47 508.85%
$500.00 $4.11 $205.00 $209.11 508.83%
$700.00 $5.75 $287.00 $292.75 508.83%
Installment Payday Loan – 140 Day Term – 10 Payments
Loan Amount Lender Interest CSO Fee Total Finance Charge APR
$300.00 $6.30 $630 $636.30 746.42%
$500.00 $10.50 $1,050 $1,060.50 746.42%
$700.00 $14.70 $1,470 $1,484.70 746.42%
Installment Payday Loan – 120 Day Term – 4 Payments
Loan Amount Lender Interest CSO Fee Total Finance Charge APR
$300 $6.23 $492 $498.23 657.97%
$500 $10.39 $820 $830.39 657.95%
$700 $14.54 $1,148 $1,162.54 657.96%
Auto Title Loan – 30 Day Term
Loan Amount Lender Interest CSO Fee Total Finance Charge APR
$500 $4.07 $130.00 $134.07 326.24%
$1,500 $12.21 $390.00 $402.21 326.24.07%
$2,500 $20.35 $650.00 $670.35 326.24%

 
Approved Money Center is licensed and examined by the State of Texas – Office of Consumer Credit Commissioner. Call the Consumer Credit Hotline or write for credit information or assistance with credit problems.

Office of Consumer Credit Commissioner
2601 N. Lamar Blvd.
Austin, TX 78705-4207
1-800-538-1579
Consumer.complaints@occc.state.tx.us
www.occc.state.tx.us

IMPORTANT NOTICE

An advance of money obtained through a Payday Loan or Auto Title Loan is not intended to meet long-term financial needs. A Payday Loan or Auto Title Loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.

Fees and Disclosures

Fees/Disclosures