"...Consecutive Small Loans: After an initial loan and five subsequent consecutive loans, the lender may not provide you with another small loan within seven (7) days after the due date of the fifth consecutive loans. You and the lender can agree to enter into a simple interest loan payable in more than four (4) installments. The Annual Percentage Rate (APR) on this loan cannot exceed 36% on loans with an amount financed up to $990 as per IC 24-4.5-3-508 effective July 1, 2004. The purpose of this provision is to help keep borrowers from being on a debt treadmill where they cannot payoff their loan..."