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How are you different from "payday" lenders?
"Payday" lenders are generally lenders of last resort. In return for access to short-term credit (about 30 days) and loans that are typically of small nominal value, payday borrowers pay extremely high fees and interest rates.SocietyOne is not a payday lender. We look for creditworthy, quality borrowers who typically have established relationships with major banks. Our loans range up to 60 months, from $5,000 to $50,000, which does not fit with the definition of a payday loan. We think quality borrowers with good track records are not getting the best rate they deserve.