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RISE is a new payday loan company that has a new take on payday loans. It is a direct payday loan lender that offers larger amounts than most payday loan services, and its starting rates are lower than those of many services. It also implements a points system that rewards you for completing loans, making early payments and taking the financial courses the company offers.

While most payday loan companies offer up to $1, 000 for a payday loan, RISE offers up to $5, 000 to qualified applicants. While this is a good thing in some cases, it also increases the amount you must pay back, both in APR and principal. The APRs start around 360% and can drop to as low as 125% with the RISE reward system. For example, you receive 75 points for on-time payments, and when you reach 1, 000 points, you receive a 5% discount on your next loan. These APRs work out to between $2 and $14 per $100 borrowed on a 14-day loan, which is less than most services.

RISE approves your application instantly after you complete the online form. It requires basic personal information and your banking information. While you do not necessarily need to be employed to qualify, you need to provide proof of a valid and steady income. After approval, RISE deposits your money directly into your checking account the next day. Once you pay off your current loan, you can reapply in two to three days.

Your first payment with RISE is due after 14 days, which is common with cash advances meant to get you to your next payday, and subsequent payments are due every 14 days until you repay your loan. When payment is due, RISE can automatically deduct it from your checking account. If you need an extension, you can contact the company to see what you qualify for. There is no penalty for paying off your loan early; in fact, you receive reward points for early payments.

RISE has standard help and support options. You can read online about the loan process, rewards program and the FAQs. You can call customer support or contact the company via email form. However, when we emailed the company with general questions, we never received a response.

RISE is a new company that has a new approach to payday loans. It offers fast payday loans with larger amounts, lower APRs and an opportunity to decrease your rates over time with its rewards program. The terms for loan repayment are standard, with a 14-day maximum term, automatic deductions and the option to extend your loan if needed. The fact that we did not receive a response from RISE when we emailed customer service is disappointing, but this up-and-coming payday loan service is trying to change the way payday loans work, and that has potential.

Interesting facts

  • A loan shark is a person or body that offers unsecured loans at illegally high interest rates to individuals, often enforcing repayment by blackmail or threats of violence.
    Throughout history, usury laws made loan sharks commonplace. Many moneylenders skirted between legal and extra-legal activity. In the recent western world, loan sharks have...
  • In the United States, commercial finance is the function of offering loans to businesses. Commercial financing is generally offered by a bank or other lender. Most commercial banks offer commercial financing, and the loans are either secured by business assets or alternatively can be unsecured, where the lender relies of the cash flows of the...

Additional information


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