Starting a business can be an exciting, yet intimidating prospect. There are so many factors to consider, such as the cost of getting started and the financial resources needed. But what if you don't have those resources? Is it possible to start a business with a payday loan ? Read on to find out! Types of Interest Rates There are two types of interest rates when it comes to payday loans: the Annual Percentage Rate (APR) and the Finance Charge. The APR is the cost of borrowing money for one year, including all fees and interest charges. For instance, if you borrow $100 at an APR of 10%, you would owe $110 at the end of the year. The Finance Charge is the fee charged for taking out a payday loan, which is typically a percentage of the loan amount. For example, if you take out a $100 loan with a finance charge of $15, you would owe $115 in total. How to Get a Payday Loan If you're thinking about starting a business, you may be wondering if it's possible to get a payday loan ...