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Letter to the Editor: Payday Lenders Are Unfairly Represented

Sometimes hardworking Alabamians – teachers, police officers, salespeople – struggle to make ends meet between paychecks. They use payday loans for things like unexpected medical expenses or home and auto repairs.
In his recent commentary, Neal Berte is confused about what a cash advance costs, but our customers know that the answer is straightforward: $17.50 to borrow $100 until your next payday. Customers appreciate our simple, flat fee that does not compound interest.

Berte lists the prices of items bought with our services by applying one year’s worth of interest to the item, even though our loans have a term of 10-31 days. His deceptive calculations don’t reflect the cost of a payday loan, but rather the cost of taking out (on average) 26 consecutive loans.

Customers appreciate the reliability and transparency of our services. We provide important protections to help our customers make informed decisions and become responsible borrowers. They choose to use our services after carefully weighing all their options and determining that it will cost them less to take out a payday loan than it will to miss a bill payment or rely on an unregulated loan.

I am proud to provide Alabamians with access to credit during tough financial times.

Kara Stansell,
Advance America


  1. I’ve never been to one but what I’ve heard is not good. But…. if there’s an emergency and you need quick cash, this would be an option. People seem to forget that they choose if they do or don’t go to these places. You know the interest rate before you go. Convenience stores cost more than grocery stores but people choose to go to them because it’s “convenient”.

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