Legal Status
Legal
Citation
R.I. Stat. Ann. 19-14.4-1
Loan Terms
Maximum Loan Amount: $500
Loan Term: At least 13 days
Maximum Finance Rate and Fees: 10% of amount advanced
Finance Charge for 14-day $100 Loan: $10.00
APR for 14-day $100 Loan: 261%
Debt Limits
Maximum Number of Outstanding Loans at One Time: $500 per lender, max of 3 separate loans. R.I. Gen. Laws § 19-14.4-5.1
Rollovers Permitted: 1 Permitted per loan. R.I. Gen. Laws § 19-14.4-5.1