Rates and Fees

Hugo Payday Loans is a direct lender. The Annual Percentage Rate (APR) we offer ranges from 5% to 36%, with repayment terms from 2 to 36 months, depending on the product, the borrower’s state of residence, and creditworthiness. Not all applicants will qualify for a loan or for the lowest advertised rate; the APR you receive is determined by Hugo Payday Loans based on the information you provide and our underwriting criteria (calculation consistent with the Truth In Lending Act, TILA).

Hugo Payday Loans strictly adheres to all applicable federal, state and local regulations and laws and is committed to fair credit practices within the industry.

Usually, this credit is associated with relatively high financial charges, rates and fees. For this reason, the industry is heavily regulated on federal, state and local levels. Moreover, the number or organizations, either governmental or non-governmental, which provide control over the agents in this industry and establish the best practices and regulative procedures, steadily grow and develop.

To apply for a loan, you must be 18 years or older. The APR you will be charged is set by Hugo Payday Loans based on the information you provide in your application and our underwriting criteria. We will always disclose the APR, finance charge, and repayment schedule in your loan agreement before you sign.

APR rates are based on how creditworthy you are, the rates are subject to change without notice which could result in the rate and amount you pay back varying.

Once your application has been approved, Hugo Payday Loans will provide you with all of the facts associated with the loan, including the APR, any associated finance charges, and all of the terms you will be agreeing to. We encourage you to read this information carefully so you can make an informed decision prior to accepting the loan offer.

As a direct lender, Hugo Payday Loans provides loan information, advice, and funding directly to qualified borrowers — there is no broker fee and no third-party referral involved.

Representative Examples (Qualified Customers) (**)

If you borrowed $2,000 over a 12 month period and the loan had a 3% arrangement fee ($60), your monthly repayments would be $189.12, with a total payback amount of $2269.44 which including the 3% fee paid from the loan amount, would have a total cost of $329.44. Representative 29.82% APR.

If you borrowed $5,000 over a 36 month period at a representative 18.23% APR with an 8% origination fee ($400), your monthly repayments would be approximately $181.36, with a total payback amount of $6,528.96, which would have a total cost of $1,528.96 including the fee. Representative 18.23% APR.

(**) – Representative APR examples are for illustration only. The lowest rates are available only to the most qualified applicants. Actual APR and repayment terms depend on your creditworthiness, state of residence, and the product you select.

Loan Terms

Hugo Payday Loans streamlines the loan process from start to finish. As the direct lender of your loan, we make the approval decision, set the rates and fees, and disclose the APR, nonpayment rules, and renewal policy directly in your loan agreement.

This website is the online lending platform of Hugo Payday Loans, designed to satisfy the short-term financial needs of qualified borrowers.

All details — such as fees, rates, APR, nonpayment rules, and renewal policy — are specified in your loan agreement with Hugo Payday Loans and depend on applicable state and federal law. We provide plenty of information to help you better understand what a loan is, how it works, and how to use it wisely.

Applying for a loan through our website is free. You are under no obligation to accept the offer we extend, and you may decline before signing if the terms do not suit you. Our goal is to meet our clients’ financial interests responsibly.

Once your application is approved, Hugo Payday Loans will make you an offer, including the fees and APR, as well as the terms of repayment and loan renewal options, if any. We encourage you to read the agreement carefully and weigh all pros and cons so you have the information you need to avoid an unpleasant financial situation.

Pay particular attention to non-payments that may result in additional fees, negative impact on your credit score, and even collection activities. In case you have no funds to repay the debt on a due date, immediately contact Hugo Payday Loans and discuss ways how to handle the situation.

Loan renewal may be offered by Hugo Payday Loans where permitted by state law. Renewal policy is disclosed in your loan agreement — review it carefully before accepting the offer.

If you need more information on your loan agreement, please contact Hugo Payday Loans directly — we are the lender of your loan and are ready to answer any questions you may have.

Disclosures described above are for information purposes only. Do not regard them as legal advice.