Payday loans are small dollar short-term cash advances used by people everyday to cover unexpected financial strains. Whether you’re in need of car or home repair, medical care or work related help, a Payday Loan from Gap is the solution you’ve been looking for.
Our Loan Amounts & Rates
- Amounts should be no greater than $1000.00
- Rates can be between 4-7% monthly
- Collateral is a “deuda de pago” for $5000.00 which is what the borrower signs as guarantee for the loan.
If the borrower is not compliant, our lawyer submits it to the courts right away. Embargoes are placed on all properties and collection, including interest and penalties, will be obtained in 4-6 months.
This works with a proven track record, and with the payments very small(6% on $1000.00 = $60.00/mo), almost anyone can come up with that. The idea is the credit card concept, that if you have 100 people paying $6000.00 a month or $72000.00 a year but 10% don’t pay…your risk is nominal and returns still exceptional.
Requirements needed to be provided to lender: Pay Slips, Photo ID, residential address, phone number & email. Gap Equity Loans will provide, for a small fee, monthly reporting on the billing of borrowers. Each Borrower will be given an I.D. number and will have to annotate it on the deposit, either wise it will be considered a non-payment. Payment review will be on the first and the 15th. We will bring in a book keeper and we have a lawyer on standby in case we have to submit a non-payment to the courts.
Click HERE to learn more about long term home equity loans
Please contact us if you have any questions - 8393-2085