Some of our critics have proposed capping interest rates for Payday Loans or a Cash Advance, but doing so would greatly impede our ability to operate. If we charged lower fees, we would not generate enough income to pay for basic business expenses, such as rent, utilities and wages. If we were to charge an APR of 36 percent, as some of our critics have suggested, that would mean customers pay a fee of $1.38 per $100 borrowed. No business — not a credit union, not a bank — can lend money for 10 cents a day for a two-week loan term without being subsidized. Such rate-cap models overlook the significant cost of operating a regulated business, and would be an effective ban on Cash Advances. Our customers recognize that the price of the one-time fee is appropriate for a short-term loan, relative to other options.