The day Holly graduated from college was also the last day at her internship which was Holly’s main source of income. Her internship was a success as the company did offer her a job, but it was May and Holly didn’t start her new job as a graphic designer until August. Holly began to search for a part-time job as she knew that she needed a quick financial solution to help pay for her day-to-day expenses.
With some experience in the restaurant industry, Holly was able to land a job as a waitress at a local diner. But it wasn’t enough. She had rent and a car payment due, as well as utility bills that were overdue. Holly was beginning to think that a payday loan might be her only option.
A friend of Holly’s quickly talked her out of a payday loan as the interest rate was much too high. Her friend recommended LendDirect and she explained to her a similar situation where she found an alternative to a payday loan through LendDirect.
A quick online search led Holly to a LendDirect branch located in Brampton. When she arrived, a Financial Service Representative explained to her that she was in the right place, which was exactly what Holly needed to hear.
LendDirect was able to offer Holly a much lower interest rate on a line of credit with fast cash advance options as an alternative to a payday loan. Here is a breakdown of Holly’s personal line of credit with LendDirect.
Bi-Monthly Statement
Approval Amount
(Credit Limit)
$5,000.00
Advance Amount
$2,000.00
Annual Interest Rate
46.93%
Estimated Payment
(with Loan Protection)
$88.62
