Small dollar loan definition

Small dollar loan means a loan made pursuant to this chapter.
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Small dollar loan means a loan made to a consumer whereby the small dollar lender, for a fee, finance charge, or other consideration, does the following:
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Small dollar loan means a loan that meets the following criteria: (i) is made in an amount that does not exceed $2,500; (ii) must be repaid in installments; (iii) has no prepayment penalty; (iv) has payments that are reported to at least one of the consumer reporting agencies that compiles and maintain files on consumers on a nationwide basis; and (v) otherwise complies with the requirements of the Small Dollar Loan Program.
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Examples of Small dollar loan in a sentence

  • Small dollar loan customers are much more interested in knowing how much this credit will cost them than the loan’s interest rate if annualized.

  • Small dollar loan Thirty percent of American households do not have the financial resources to meet an emergency and 44% do not have resources to meet a three-month emergency.

Related to Small dollar loan

  • Euro-Dollar Loan means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Dollar Loan means a Loan denominated in Dollars.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Reference Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the Reference Rate.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • B/A Equivalent Loan shall have the meaning assigned to such term in Section 2.22(h).

  • Multicurrency Loan means a Loan denominated in Dollars or an Agreed Foreign Currency.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • ABR Loan means any Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Eurodollar Competitive Loan means any Competitive Loan bearing interest at a rate determined by reference to the LIBO Rate in accordance with the provisions of Article II.

  • Prime Rate Loan means a Loan that bears interest based on the Prime Rate.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Eurocurrency Loan means any Eurocurrency Term Loan or Eurocurrency Revolving Loan.