Interest Rates
Understanding Your Short-Term Installment Loan
Little Lake Lending is committed to equipping our customers with all the relevant details necessary for making the right choices about their loans. This entails providing information on payment amounts, payment deadlines, Annual Percentage Rate (APR), and any fees that may be applicable for late payments or returned items. All these details are clearly stated in your loan agreement.
We strongly advise that you take the time to thoroughly review your loan documents before signing to ensure you completely understand the loan terms. Your loan agreement is accessible at any time by logging in to your account. If you have any questions or concerns, our customer service representatives are always available at 844-600-9737.
How Can I Lower the Total Cost of My Loan?
Reducing The Cost of Your Loan
Our Penalty-Free Early Payoff
At Little Lake Lending, we understand that unforeseen circumstances can occur at any time, and we are here to offer support. To minimize the costs associated with your loan, we recommend borrowing only the amount you require and repaying it promptly. We do not impose any penalty fees for early repayments. To make a payment towards your principal balance or pay off your loan, please log in to your account online or contact us at 844-600-9737 at least three days prior to your intended payment date. This will enable us to process your payment promptly and accurately.
- Ensure timely repayment of the loan to avoid incurring late fees
- Borrow only the necessary minimum amount to reduce overall costs
- Utilize your Big Fish Reward points to offset your loan balance
- Make extra payments to your principal to decrease interest charges
- Pay off your entire balance early to save on interest fees
- Qualify for better rates as a returning customer
Interest Rates on Loans
Interest rate is the percentage of the principal of a loan a lender charges a borrower to make the loan. Finance charges are a broader measure of the cost of borrowing that include both interest and any applicable fees. Annual percentage rate, or APR, expresses the finance charges on a loan as a yearly rate. Finance charges are based on a consumer’s creditworthiness. A consumer’s creditworthiness is determined by several factors, including credit and payment history, income, employment, existing debt, and types of debt. The APR for your loan will be determined by the amount you choose to borrow and the length of time you choose to keep your loan outstanding. You can reduce the total cost of your loan by paying off your loan prior to your last due date on your payment schedule or by making additional payments on or between your payment due dates.
The copy of your loan details, finance charges and APR will be fully disclosed to you in your loan agreement upon approval of your loan. Contact us today to see if you qualify for one of our loans. We can assist you and present a range of loan options for which you may qualify.* Our company adheres to all federal laws and regulations that apply to short-term and online personal lending industries.
Our company does not discriminate against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of an applicant’s income derives from any public assistance program, or because an applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Please note: This is an expensive form of borrowing, and it is not intended to be a long-term financial solution. These loans are designed to assist you in meeting your short-term financial needs and are not intended to be a long-term financial solution.
*All loans are subject to credit approval.
