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Installment Loans in Texas

Summary

Type of Loan

Installment

Loan Amount

$150 – $1,000

Loan Term

Up to 6 Months

Prepayment Allowed

Yes

Wisconsin

For detailed information on the annual percentage rate (APR) and all other applicable terms to your loan governed in the state of Texas, please refer to your loan agreement.

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Texas Fee Schedule

In Texas, Cypress Creek Financial West, LLC (“we,” “us” and “our”) is a credit services organization and credit access business but is not the lender. All loans are made by an unaffiliated third-party lender (“Lender”).  If we obtain a loan for you, we will charge you a “CSO Fee” for our assistance in finding you the loan and our related credit services, and Lender will charge you interest and other fees as outlined below.

Bi-Weekly Payments

Finance Charges: For bi-weekly payment schedules, we charge a CSO Fee that is determined as follow: (1) we first multiply the Amount Financed by the number of installment periods in your loan; and (2) we then multiply that result by 0.22.  Lender separately charges interest at a rate of 9.95% per annum on the outstanding principal balance of your loan (which will include the CSO Fee).  On each payment you will pay portions of interest and principal (which includes the CAB Fee).  The following examples demonstrate how finance charges are imposed on bi-weekly loans.

LOAN AMOUNT LENDER INTEREST TOTAL CAB FEES AMOUNT DUE
FOR PAYMENTS 1-10
AMOUNT DUE
FOR PAYMENT 11
TOTAL OF PAYMENTS TERM* APR**
$300.00 $25.15 $726.00 $95.53 $95.85 $1051.15 159 Days 700.550%
$500.00 $41.89 $1210.00 $159.24 $159.49 $1751.89 159 Days 700.640%
$750.00 $62.86 $1815.00 $238.87 $239.16 $2627.86 159 Days 700.660%

Semi-Monthly Payments

Finance Charges: For semi-monthly payment schedules, we charge a CSO Fee that is determined as follow: (1) we first multiply the Amount Financed by the number of installment periods in your loan; and (2) we then multiply that result by 0.22.  Lender separately charges interest at a rate of 9.95% per annum on the outstanding principal balance of your loan (which will include the CSO Fee).  On each payment you will pay portions of interest and principal (which includes the CAB Fee). The following examples demonstrate how finance charges are imposed on semi-monthly loans.e calculate the CSO Fee by Lender charges interest at a rate of 9.95% per annum on the outstanding principal balance of your loan which will include the CSO Fee.  On each payment you will pay portions of interest and principal (which includes the CAB Fee). The following examples demonstrate how finance charges are imposed on semi-monthly loans.

LOAN AMOUNT LENDER INTEREST TOTAL CAB FEES AMOUNT DUE
FOR PAYMENTS 1-10
AMOUNT DUE
FOR PAYMENT 11
TOTAL OF PAYMENTS TERM* APR**
$300.00 $26.69 $726.00 $95.68 $95.89 $1052.69 169 Days 681.570%
$500.00 $44.49 $1210.00 $159.47 $159.79 $1754.49 169 Days 681.580%
$750.00 $63.73 $1815.00 $239.22 $239.53 $2631.73 169 Days 681.620%

Monthly Payments

Finance Charges: For monthly payment schedules, we charge a CSO Fee that is determined as follow: (1) we first multiply the Amount Financed by the number of installment periods in your loan; and (2) we then multiply that result by 0.34.  Lender separately charges interest at a rate of 9.95% per annum on the outstanding principal balance of your loan (which will include the CSO Fee).  On each payment you will pay portions of interest and principal (which includes the CAB Fee).  The following examples demonstrate how finance charges are imposed on monthly loans.

LOAN AMOUNT LENDER INTEREST TOTAL CAB FEES AMOUNT DUE
FOR PAYMENTS 1-4
AMOUNT DUE
FOR PAYMENT 5
TOTAL OF PAYMENTS TERM* APR**
$300.00 $18.89 $510.00 $165.84 $165.53 $828.89 144 Days 630.970%
$500.00 $31.48 $850.00 $276.35 $276.08 $1381.48 144 Days 630.860%
$750.00 $43.26 $1275.00 $414.51 $414.19 $2072.23 144 Days 630.840%

* Term:  The maximum loan term is [180] days but will vary depending on the frequency with which you receive income.
** Annual Percentage Rate: The Annual Percentage Rate (APR) is the cost of your loan expressed as a yearly rate. Your cost of credit will increase if the actual loan term is shorter than this example and will decrease if your loan term is longer.
Late Fee/Returned Payment Fee: The information provided above is based upon a borrower making on-time payments.  If a payment is late by more than ten days or if any payment is returned unpaid, you may also be charged a late fee of the greater of 5% of the payment amount or $7.50 or a returned payment fee of $30.00.
OCCC Notice: This business is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax: (512) 936-7610. Website: occc.texas.gov. Email: consumer.complaints§occc.texas.gov.

State License

Cypress Creek Financial West, LLC is registered with the Texas Secretary of State as a Credit Services Organization (“CSO”) and licensed by the Texas Office of Consumer Credit Commissioner as a Credit Access Business (“CAB”). Click below to view the Texas licenses.

TX- CSO 2021-2022

TX_OCCC_License

Questions or complaints should be directed to Texas’ regulatory agency. Click here for contact information.

Consumer Disclosures

The following links contain disclosures as required by the Office of the Consumer Credit Commissioner (OCCC) for all residents applying for an Installment Loan. These disclosures outline all of the estimated costs associated with Installment Loans of the following amounts:

$300 Installment Loan 5 Monthly Installments

$300 Installment Loan 11 Bi-Weekly Installments

$500 Installment Loan 5 Monthly Installments

$500 Installment Loan 11 Bi-Weekly Installments

$750 Installment Loan 5 Monthly Installments

$750 Installment Loan 11 Bi-Weekly Installments

Consumer Credit Notice

This business is licensed and examined under Texas law by the Office Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin Texas 78705. Phone: (800)538-1579. Fax: (512)936-7610. Website: occc.texas.gov. Email: [email protected]

An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.

Have additional questions regarding the Installment Loan product in Texas?

Check out our FAQs page or call our customer service team at 800-986-3017. You can also text us at 63591 or email [email protected] We will be more than happy to assist you.