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There are no financial implications for nonpayment. If no payment is made, the loan simply defaults. Collection practices include sending a text message or email reminding the client payment is due. There is no impact to a client's credit score for late or non-payment.  Loans are renewed when an interest payment is made. Monthly interest rate does no exceed 4.5%. There are no additional fees or penalties when renewing a loan. No loans offered are under 90 days. Early prepayment options that are available are not associated with any fees or cost. The loan is not required to be repaid within 90 days. The minimum repayment period is 1 day, and maximum is 10 years. 

An example: borrower takes a $100 loan, repays $113.5 in 90 days plus a one time storage fee of $4.00.  Total $117.5 

Loan is fulfilled