The issue with low APRs on high risk short term debt for consumers that need it is that it generally makes it expensive to issue the debt almost regardless of t

The issue with low APRs on high risk short term debt for consumers that need it is that it generally makes it expensive to issue the debt almost regardless of the risk of the person. Hypothetically if you need a $700 payday advance today, paid back in 2 weeks when you are paid, a credit card level (25% apr) would be an extremely small amount of money paid to the servicer (like 7 dollars total).