September 28, 2007, Newsletter Issue #83: Loan Minimum Amounts

Tip of the Week

The average short-term loan is $2,300. If you need a small short-term loan, payday lenders will offer payday loans with amounts as low as $100, but they will charge you huge fees in comparison to the amount you are borrowing and they may require you to fork over the title to your car as collateral. If you are a member of a credit union, here's some great advice on Short Term Loans that you should check into: According to the Credit Union National Association, more than half of its member credit unions will make loans for amounts less than $500 based on a limited credit check alone.

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