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Payday loans
Payday loans — know the cost before you sign.
A short-term loan repaid on your next payday. You see the flat-dollar fee, the due date and the exact amount leaving your account — before you sign anything.
Key facts
Before you apply for a payday loan, read these four points carefully.
Single repayment
The full amount — principal plus fee — collected in one go on your next payday.
Flat-dollar cost
The APR annualises a short-term fee. Assess the actual dollar total — not the percentage.
Rollover risk
Extending your due date adds fees each time. Only borrow what you can repay without rolling over.
State licensing
Payday loans are regulated by state law. Micropath Finance only lends where licensed — confirm before applying.
How a payday loan works
You borrow a set amount — typically a few hundred dollars — and repay the full balance plus a flat fee in a single payment on your next payday. We confirm the exact amount, fee, due date and collection method before you accept. There is no ambiguity about what leaves your account or when.
The APR looks high — here is why
The APR on a payday loan can appear very large — often several hundred percent. This is not an error. APR annualises a short-term cost over a full year, which inflates the percentage for any loan measured in weeks rather than years. The number that matters is the flat-dollar fee: what leaves your account on the due date. We show you both figures before you sign.
One rule before you accept: run the repayment numbers
The full repayment — amount borrowed plus fee — is collected in a single debit on one date. Before you sign, check that this amount fits within your next pay deposit after covering rent, utilities, groceries and other essentials. If it is tight, contact us before signing. Borrowing more than your budget can absorb leads to repeat borrowing and compounding cost.
What happens if repayment cannot be collected
Contact us before your due date if you expect your account to be short. Your agreement sets out the late fee, any grace period and next steps. Early communication gives us the best chance to work with you on a solution before fees compound.
State licensing and availability
Payday loans are regulated by state law. We only offer this product in states where we are licensed. Confirm availability for your state when you apply — not all states permit payday lending.
Keep in mind. Payday loans are short-term, high-cost credit. Only borrow what you can repay in full on your next payday. Micropath Finance discloses the full cost before you sign — review every figure before accepting.
Understanding the numbers
Why the APR looks high — and what actually matters.
APR (Annual Percentage Rate) annualises a short-term fee into a yearly rate. A $15 fee on a two-week $300 loan works out to 391% APR — not because the loan costs hundreds of percent more than you borrowed, but because any 14-day cost looks enormous stretched over 365 days.
The table shows how the APR changes across common state fee caps of $10–$20 per $100. The figure that matters most is the flat-dollar total: the exact amount leaving your account on the due date. Micropath Finance shows you both before you sign.
Full guide to APR & feesFee rateFlat fee on $300Total dueAPR (14-day term)
$10 / $100$30$330261%
$15 / $100$45$345391%
$20 / $100$60$360521%
APR calculated as (fee ÷ principal) × (365 ÷ 14) × 100. Fee rates shown reflect common state caps of $10–$20 per $100 borrowed. Your exact fee and APR are disclosed in your Micropath Finance offer before you sign.
What to check
Six things to read before you sign.
Payday loans have a short repayment window. These six items tell you the true cost and every scenario you need to plan for.
Read the full guide- 01The exact flat-dollar fee — not just the APR percentage
- 02The total amount due on the repayment date
- 03The precise due date — usually your next payday
- 04The collection method — typically an ACH debit from your account
- 05What happens if a payment fails — late fee, grace period and next steps
- 06Whether your state permits payday loans and rollover terms
Loan terms at a glance
What to expect from a Micropath Finance payday loan.
Repayment structureSingle payment on your next payday
Loan termTypically 1–4 weeks
Cost figure to reviewFlat-dollar fee — disclosed before you sign
APRAnnualised — high by design; use flat-dollar cost to compare
Collection methodPre-authorised ACH debit — confirmed in your agreement
DecisionMicropath Finance — a direct lender, not a broker
Exact fees and terms depend on your individual application and state of residence. Micropath Finance presents the full offer before you sign — nothing is agreed until you accept.
How it works
Four steps from request to funds.
Fast decision
Micropath Finance reviews your request and gives you a clear decision — typically quickly after submission.
Check the full cost
You see the flat fee, total due, due date and collection method. Nothing is final until you sign.
Receive your funds
Once signed, funds are sent to your nominated account — typically the next business day.
Why Micropath Finance
A direct lender. Full cost upfront. No surprises.
Micropath Finance is not a broker or a marketplace. When you apply, you deal with us directly — we set the fee, make the decision and fund any loan we approve.
Before you sign, we show you the exact dollar amount leaving your account, the due date, the collection method and what happens if anything goes wrong.
About Micropath FinanceConsider your options
Is a payday loan the right fit?
Personal loans
Larger amounts repaid over monthly installments — lower total cost for bigger needs.
Paycheck advance
Access a portion of your expected pay ahead of payday with a clear single repayment.
Short-term loans
Installment structure over a defined term — spreads the repayment over multiple payments.
Emergency loans
Fast-access funds for urgent costs with clear terms and a disclosed repayment schedule.
When you're ready
Apply for a payday loan — know the cost first.
Micropath Finance will show you the full cost — flat fee, due date and total amount due — before you commit to anything.
Common questions
Frequently asked questions
How much can I borrow with a payday loan?
Payday loan amounts vary by state law. Most states set a maximum per loan. We confirm the available amount in your offer before you accept.
What will the fee actually be in dollars?
Fees on payday loans are typically expressed as a dollar amount per $100 borrowed — common state caps range from $10 to $20 per $100. On a $300 loan at $15 per $100, the fee is $45. Your offer shows the exact fee in dollars before you sign.
Why does the APR look so high?
APR annualises a short-term fee over 365 days, which inflates the percentage for any short-duration loan. A $45 fee on a two-week $300 loan equals roughly 391% APR — but the cost to you is $45. Focus on the flat-dollar total: can you repay the full amount on your next payday and still cover your essential expenses?
What happens if I cannot repay on time?
Contact us before your due date. Your agreement sets out the late fee and grace period. Acting early is always better — it gives us the best chance to find a solution before additional charges apply.
What is a rollover and should I take one?
A rollover extends your repayment date in exchange for an additional fee. Each rollover adds cost and delays repayment — a $300 loan rolled over multiple times can cost significantly more than the original fee. Contact us before your due date to discuss alternatives rather than defaulting to a rollover.
Is a payday loan available in my state?
Payday lending is regulated by state law. Some states prohibit the product entirely. We only lend where we are licensed. Confirm availability when you apply.