Kingsport, TN 423-247-1191 • Weber City, VA 276-386-9119



Loans made to one or more individuals having most of the traditional charges for the loan as simply interest. The interest amount charged is a function of a rate of interest multiplied by the amount of time you have the money before it is paid back multiplied by the amount of money not yet paid back.

All interest based loans have the interest precomputed for the correct term and amount of the loan and are disclosed to you when reviewing the loan documents at closing. This way your balance due will already include all of the finance charge needed to carry the loan to the end of the loan term. When you pay, for example, one hundred dollars, your loan balance will come down one hundred dollars.