Omni Military Loans Yadkin Rd, Fayetteville

Hi D. Snutz, Thank you for taking the time to share your feedback about the APR. Omni Financial is dedicated to responsible lending and helping our family of customers every step of the way. We also appreciate your compliment on our staff who truly are great, between all our staff there are decades of experience and expertise in providing you loans that best meet your unique lifestyles and circumstance. We are always happy to hear positive feedback about our employees. We have noted your feedback about the APR on your loan. This is a concern that is sometimes shared by others also. In the small loan lending business, the interest rates appear high, in view of the fact that the loans are short term in nature and the dollar amounts are generally small. Therefore, APRs are less meaningful in our small loan lending arena. Consider this example: a 34.5% APR Consumer Finance Company loan versus a 14.95% APR Bank Loan results is a mere difference of only seven dollars a month or 22c a day. This example is based on a $900 loan taken out for a 9 month term. Consumer Loan Companies like us serve the people who legislators want to discourage from turning to the higher cost alternative such as check cashers, pawn and payday lenders. Naturally our rates are higher than Banks or Credit Unions, but that’s because our risks and costs are higher. But our interest rates are still very competitive. We hope the above is helpful, thank you again for choosing Omni. Your Omni Financial Team