Amount to request
Enter the cash you need in hand and the lender's fee. The calculator grosses the amount up, then shows the payment and the APR the fee produces.
As a percent of the loan amount.
- Loan amount to request
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- Fee deducted
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- Monthly payment
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- APR with the fee
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Send lenders this amount
Tell us how much, for how long and what for. Lendarbor passes your request to lenders and loan brokers who may make you an offer; you decide whether any offer fits.
- 1 The amount, the term and the purpose.
- 2 Your name, phone and email, and your consent to be contacted.
- 3 A lender or loan broker may contact you with an offer, sometimes for a different amount or term. Nothing is decided until you sign.
You pay Lendarbor nothing. The lenders and loan brokers who contact you set their own rates, fees and loan sizes. How we make money.
The gross-up
A fee deducted from the proceeds means you receive the loan amount times (1 − fee rate). To receive a set amount, divide it by (1 − fee rate): $9,500 needed with a 5% fee means requesting $10,000, and the fee is $500.
Why the APR rises
You pay interest on the full loan but use less money, so the yearly cost of what you received is higher than the interest rate. At 14% interest over 36 months with a 5% fee, the payment on $10,000 is $341.78 and the APR works out to about 17.65%. Lenders must show that APR in the Truth in Lending disclosure before you sign. Covering fees in the loan amount explains when a fee-free offer at a higher rate costs less.