borocash is not a payday loan.
• A payday loan is meant to hold you over before you get paid but then takes your entire paycheck, making you dependent on their services and driving you further into debt.
• On average, payday loans charge 300% more than what you borrowed in interest. Boro’s goal is not to trap you into a cycle of debt. In fact, Boro wants to support students in their financial success with a limited amount of cash you can borrow and pay back in small, monthly payments.
• Our monthly interest payments are low and once you’ve paid off your borocash, you choose if you want to recharge your account.
Michigan Regulatory Loan License (RL-0020249), effective February 12, 2016,issued by Department of Insurance and Financial Services.Contact info: Office of Consumer Finance, 530 W. Allegan Street, 7th Fl., Lansing, MI 48933-1521