Payday loans are short-term loans, generally intended to provide borrowers with cash-in-pocket until their next payday. They are used by many people to cover their expenses. The problem with these companies is that the loans carry a very high interest rate. Therefore, many people end up in more debt than when they started. Payday loans are currently banned in 12 states throughout the country. Only six states do not have laws against capping the interest. Tech giant Google has taken a stand against payday loans, prohibiting lenders from taking out pay-per-click ads if their loans:
  1. Are due within 60 days
  2. Have an interest rate of above 36%
A Google spokesman said the ban was to protect the users from deceptive practices. The representative states that these loans result in payments that are unaffordable with high default rates. Opponents of payday loans are supportive of this ban, because they believe payday loans trap consumers in a cycle of debt. Google states that if you have no money and conduct search using their search engine, you will only be given fair and reasonable options. BMG Money is a lender based out of Miami, Florida – who happens to agree. A true “good guy” financing company, BMG Money offers emergency loans in an honest and reputable manner. Like many consumers, this company is sick and tired of payday loan companies taking advantage of people who are desperate for money. In fact, they have a referral program, Here, you can learn more about honest, income-based lending. BMG Money helps people eliminate the awful payday loan trap. This can save people thousands of dollars and change your life. They work with employees and their employers, to work out reasonable loans and offer financial literacy education to help you make the best decision long-term. If you would like more information about BMG Money, they can be reached at 800.316.8507, or check out While on the website, check out the Credit Education Program that gives you some advice on lending and credit. The course provides ways to decrease spending and increase income, and it discusses identity theft. It explains unsecured and secured loans and the cost of credit. You can also get access to your Free Annual Credit Report. It will give you information about how lenders evaluate borrowers, and you will learn how to correct errors on your credit report. The company is based out of Miami, Florida and is a truly innovative lender. By focusing on employer-based lending, they are actually able to help people in need. Existing customers are given a username and password, and always have 24/7 access to their online account.  BMG Money loans are fair, have fantastic reviews, and a team of people who are determined to change the way lending works. If you need options, turn to BMG Money.