BARTEAU, S.J.
Plaintiff-Appellant Payday Today, Inc. appeals a portion of the trial court’s judgment in Payday’s suit against Defendant-Appellant Anne Defreeuw. We affirm.
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On June 5, 2004, Defreeuw applied for a $200.00 loan from Payday. The stated term of the loan was for fourteen days and the finance charge was $25.00.
Defreeuw presented security to Payday in the form of a postdated check in the amount of $225.00 to cover the principal and the finance charge. Defreeuw did not pay off the loan within fourteen days, and when her check was presented by Payday, it was returned by Defreeuw’s bank stamped “closed account.”
Payday sued Defreeuw in small claims court for fraud and requested treble damages in the amount of $675.00, attorney fees in the amount of $500.00, and a one-time statutory fee in the amount of $20.00, totaling $1,195.00 plus court costs in the amount of $46.00. In the alternative, Payday also requested damages in the amount of $2,100.00 to represent the 325.89% interest it believed it was charging over the 84 bi-weekly periods when the loan was unpaid.
At the hearing on this matter, Payday presented evidence in support of its argument that Defreeuw committed fraud by falsely asserting that she had no outstanding payday loans and by closing her account before Payday could cash her check. Defreeuw did not dispute the first assertion, but she did argue she had no intent to defraud Payday at the time she submitted the post-dated check.1 The trial court ordered Defreeuw to pay the $1,195.00 plus court costs because she “provided false information on her loan application when she failed to disclose to [Payday] other outstanding payday loans.”2 Appellants’ App. at 2. However, the court did not order the payment of the interest accrued at the 325.89% rate. Payday now appeals.
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Again, we note that Payday contends that the trial court erred in not awarding the $2,100.00 that represents the 325.89% interest rate applied to the $200 loan made to Defreeuw. In responding to this contention, we initially note that the “Small Loans” statute under which Payday asserts its protection from usury laws, conflicts with both statutory law as developed throughout American jurisprudential history and the common law as stated in Livingston. Accordingly, the statute must be strictly construed. . . .
At the time Payday made a loan to Defreeuw, finance charges on a $200.00 loan were limited to the $25.00 charged by Payday. Ind. Code § 24-4.5-7-201. The statute made no reference to continuing to assess this original finance charge every two weeks until the loan is paid. Upon the bank’s dishonoring of Defreeuw’s check, Payday was allowed to charge a fee not to exceed $20.00. Ind. Code § 24-4.5-7-202(1). The Small Loans Act stated that finance charges made on small loans were exempt from both Ind. Code § 24-4.5-3-508, which limited a loan finance charge for supervised loans to 36%, and Ind. Code § 35-45-7, which stated that a person committed loansharking when he contracted to receive an APR exceeding 72%. See Ind. Code § 24-4.5-7-411.
Although Payday makes no cogent argument pertaining to the Small Loans Act, we assume that Payday believes that the Small Loans Act frees it from both the usury and loansharking statutes and is license to ignore the historically moral and practical foundations for usury statutes and charge any amount of interest that the so-called payday loan “free market” will bear. In this case, Payday believes that rate to be based upon the transformation of its initial two-week 15% finance charge into an APR of 325.89%. We disagree.
Credit crises are, in large part, the result of poor borrowing choices, limited loan availability, and unconscionable interest charges. In view of these public policy considerations, we do not believe our legislature intended to free lenders to assess the unconscionable interest rate sought by Payday against Defreeuw.
The question then, is how high the APR on a payday loan can rise. The Small Loans Act tells us only that it may exceed 36% and that the charging of greater than 72% will not result in the prosecution of the lender. The Act does not explicitly cap the APR on the loan, but given that it is in derogation of both statutory and common law as recently expressed in Livingston, we cannot say that it authorizes what can only be described as an astronomical deviation from established law.
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When interpreting an unambiguous contract, we give effect to the intentions of the parties as expressed in the four corners of the document. Art Country Squire, LLC v. Inland Mortgage Corp., 745 N.E.2d 885, 889 (Ind. Ct. App. 2001). Clear, plain, unambiguous terms are conclusive of that intent. Id. We will neither construe clear and unambiguous provisions nor add provisions not agreed upon by the parties. Id. The meaning of a contract is to be determined from an examination of all of its provisions, not from a consideration of individual words, phrases, or even paragraphs read alone. Id.
The contract between Payday and Defreeuw contains a straightforward section entitled “Promise To Pay,” which states:
For value received, the undersigned (“BORROWER”) promises to pay to the order of PAYDAY TODAY, INC. at the address for such LENDER shown above, one payment in the amount of $225.00 on or before Saturday, June 19, 2004, together with the other charges and fee set forth on the REVERSE SIDE of this Agreement (to the extent applicable), all without relief from valuation or appraisement laws. (If more than one person shall be designated as BORROWER, then the term BORROWER shall refer to each such person, jointly and severally).
Appellant’s App. at 27.
The “Promise to Pay” is unambiguous, and it does not require Defreeuw to pay any annualized interest rate. The listing of the A.P.R. required by the Truth in Lending Act merely informs Defreeuw that the finance charge she agreed to pay, if annualized, would represent an A.P.R. of an enormous amount. It does not alter or add to the unambiguous “Promise to Pay” section of the contract. Stated simply, if Payday wants to collect interest, it must include that interest as part of the agreement between itself and the payday borrower. Because Payday failed to do so, it cannot recover any interest. Understandably, Payday characterizes this result as a windfall to its borrowers. We note, however, that it is a “windfall” created by the language of Payday’s contract.
Payday waived its claimed right to recover for breach of contract when it pled such recovery as an alternative to its recovery for fraud. Waiver notwithstanding, Payday cannot recover under the Small Loans Act or under its contract with Defreeuw. Accordingly, the small claims court did not err when it allowed only recovery of damages for fraud.
Affirmed.
VAIDIK, J., and BRADFORD, J., concur.