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Achieving Excellence About Great Plains Lending They do note, however that âA $500 loan from Magnum Cash Advance set-up for 4 bi-weekly installment payments will have an approximate APR of 604.06%.â Thatâs one of the higher APRs youâll see for this sort of loan, and nearly double the 391% average usually seen in the payday loan industry. It should serve as a flashing, red light: stay away.
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