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  Appalling APRs - ill-advised for anyone to take such loans, BUT. We are talking about relatively small amounts with the object of a short loan period, perhaps days rather than weeks. When you take a nominally small cash fee it can translate into a very high APR if not used in the manner intended. The problem here, of course, is that a minimum fee is needed to cover the processing costs. It simply shows that low, short term borrowing is not commercially viable for a lender with what would look like a reasonable APR while for the borrower such a loan that has a fee that covers the processing costs is also not a viable option if done on a regular basis or extends outside the intended term.
  
  In short - just stay away from them and learn to budget without having to get into a mess with these.

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