Octomom Pitching High Interest OctoLoans

Sources tell TMZ, Octo recently signed a 5-figure deal to endorse a service called OctoLoan, which connects users to cash lenders -- offering financially desperate people access to as much as $1,000 instantly.

Problem is -- the loans are short-term ... and extremely high-interest ... often exceeding 600% APR ... which means they're usually NOT a good idea for people in dire straits (the target demo).