> the structure of these loans is almost exactly the same as a payday loan, even if the APR is dramatically less. I don’t think this is the case. Payday loans

> the structure of these loans is almost exactly the same as a payday loan, even if the APR is dramatically less. I don’t think this is the case. Payday loans compound interest, don’t they? You end up owing more money the longer you take to pay them off. With this, you only ever have to pay back the advance and fixed fee no matter how long it takes.