Community Short-Term Loans is a Detroit-based payday lender offering quick cash advances of $100–$2,500 with flexible repayment options and 24/7 availability.
Data compiled from public sources · Rating from CreditDoc methodology
Community Short-Term Loans operates as a payday loan provider headquartered in Detroit, Michigan at 18570 Grand River Ave, Ste 100. The company is accessible around the clock, seven days a week, positioning itself as an immediate cash solution for consumers facing emergency financial needs.
The company offers payday loans ranging from $100 to $2,500, marketed as a simple online application process with fast funding. According to customer testimonials on their profile, the loan application can be completed in approximately one hour. They provide borrowers with two repayment options: repayment on the next payday or deferral to the following payday with an additional fee, giving some flexibility in repayment timing.
Community Short-Term Loans differentiates itself through round-the-clock accessibility and a streamlined online application process. The company emphasizes data security in their marketing materials and provides multiple contact channels including phone (+1 313-334-3372), email (support@mbvt.com), and their website. Their alternative domain (communitybcinc.com) suggests corporate backing or multiple operating entities.
As a traditional payday lender, this company operates in a high-cost lending segment. While testimonials indicate fast processing, payday loans typically carry significant fees and interest rates that can exceed 400% APR on an annualized basis. Borrowers should carefully consider whether the speed and convenience justify the substantial cost of short-term debt, and explore lower-cost alternatives like credit union PALs (36% APR cap) or employer advances before committing.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. Community Short-Term Loans is a registered company, headquartered in Detroit, MI.
Results vary by individual situation. Contact the provider to discuss expected timelines for your specific needs.
CreditDoc Diagnosis
Community Short-Term Loans is best for workers facing urgent cash shortfalls who can repay within one pay cycle and understand payday loan costs. The critical caveat: payday loans are extremely expensive, often exceeding 400% APR. Before applying, explore credit union PALs (capped at 36% APR), employer advances, or borrowing from family — substantially cheaper alternatives exist.
Credex Auto Title Loans provides fast cash loans secured by vehicle equity in South Florida, with approval based on car value rather than credit score.
Best for: Borrowers with poor or limited credit history needing emergency cash, Vehicle owners with substantial equity seeking fast funding without credit evaluation
Halvorsen Team is a Jacksonville-based mortgage lender offering home purchase, refinance, and renovation loans across Florida, Georgia, and West Virginia with a focus on fast closings and personalized service.
Best for: Florida, Georgia, or West Virginia homebuyers seeking referral-based mortgage services with emphasis on responsive, personalized attention, Borrowers with complex mortgage situations (reverse mortgages, pre-foreclosure, multi-party complications) who need loan officers willing to advocate beyond standard duties
Private Lending Group Inc. is a hard money lender offering short-term and long-term real estate investment loans with 7-day closings, no tax return requirements, and flexible credit criteria.
Best for: Real estate investors seeking rehab or short-term project financing with tight timelines, Borrowers with damaged credit or minimal documentation rejected by traditional lenders
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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