Legal Status: Legal
Citation: Nev. Rev. Stat. 604A.010 et seq.
Nevada State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, ChecknGo.com, QLoot.com, SpeedyCash.com
Maximum Loan Amount: 25% of expected gross monthly income
Loan Term: Max: 35 days; up to 90 days allowed if the initial agreement provides for installment payments and is not subject to extension
Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %)
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account); court costs; reasonable attorney's fees; service of process costs
Criminal Action: Prohibited (Unless customer acted with criminal intent)
Regulator: Nevada Financial Institutions Division
Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
Regulatory Contact: Supervisory Examiner
Nevada Financial Institutions Division
Deferred Deposit Loans
The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.
|Borrowed Amount||Loan Period||Monthly Payments||Total Payable Amount|
* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.