A loan program and process is structured to provide a significant
end-to-end cost savings while overcoming many, if not all, of the
drawbacks and regulatory obstacles present in the current payday loan
industry. The program, the end-to-end process, and the arrangement
thereof, permits a lender to offer short-term, small cash loans to
employees through an employer controlled payroll system. Access to the
employer controlled payroll system is achieved through an agreed upon
relationship between a coordinator, a lender, and the employer. As part
of the agreed upon relationship, the lender guarantees that all fees,
interest, and other ancillary costs over and above a principle amount of
the short-term, small cash loan will be kept at or below a predetermined
annual percentage rate (APR). In addition, the loan is repayable over a
number of payroll cycles such that each successive payday the principle
balance of the loan decreases.