We have gathered most frequently asked questions on this page. You are likely to find answers to your questions too, but if you don’t find the answer, or there is something you need help with, do not hesitate to contact us. We will reply as soon as possible, usually within 24 hours. These FAQs are about our services and loans in general and do not include any information regarding specific loans. If you have questions about a loan offer you received, contact the lender directly.
Short term loans explained
Short term loans are small loans from $100 to $1,000. These loans are meant to help in the event of financial emergencies and are much easier to get, than other types of credit. You can get a short-term loan fast, usually within 24 hours after sending an application. Payment terms might vary but are between 14 to 31 days. With installment loans borrowers can get up to $5,000 and a repayment period of 12 – 24 months!
Qualifications for payday and installment loans
You might get a short-term or installment loan, even if credit card companies or banks have rejected your loan applications. The most borrowers who apply for a loan through us will receive a loan offer from a provider who best matches their information. The general qualification requirements are:
- At least 18 years of age, or older;
- USA residence;
- Phone number and email address;
- An active bank account;
- Employed by the same employer for at least 90 consecutive days;
- Meet the minimum income terms.
How much can I borrow?
The total amount of your loan depends on several factors. Your financial situation, the lender and state laws will affect the amount. Usually, short-term payday loans are up to $1,000 and installment loans up to $5,000.
How will I get my money?
If you get a loan offer and accept it, your lender will process the loan agreement and send the money. The money will be deposited to your bank account on the following business day. At the same time, you will also receive a receipt of your signed loan agreement. Once the money is in your account, you are free to use it to cover the financial emergency.
I Have bad credit – will it affect getting a loan?
In some cases, the lenders will perform credit check when deciding if the applicant fulfills the needed qualifications. This does not mean you can’t get a loan, even if you have bad credit score. The credit score is not the major factor influencing the final decision whether your loan request will be approved or rejected. If you can meet the basic eligibility criteria, you will most likely get a cash advance loan. When you fill out our application, we will send your information to the lender that best suits your needs and details.
How long will it take to get a loan?
Usually, it takes one business day to get the loan, after sending the application. Filling in the form takes only a few minutes, and after submitting it, we will instantly send it to lenders, who might be interested in offering you a loan. We will send the request to lenders that can provide loans with your requirements and needs, and one of the lenders will send you a loan offer. Once you receive the offer, you will go through the details of the specific loan. You can still reject it at this point and have no obligations to take it. If you choose to proceed with the loan offer, you will sign the contract, and the lender will deposit the funds to your account on the same day after approval or on the next business day.
Do I need to fax information?
When you take a cash advance from a specific lender for the first time, you might need to fax some information. This is mainly to verify your bank statements or paycheck stubs. If you do not have a fax machine, you can find one in local public libraries or UPS stores. Using these fax machines might cost a small fee per faxed page.
How much does it cost to take a loan?
The state laws and the lender of your loan determine what costs are associated with your loan. Our service is entirely free, and we will never charge any fees for using our application. Once you have received your loan offer, read carefully the terms and conditions, to see rates and fees. Also check the late fees and interest that will apply, if you fail to pay back on time. Short term loans and installment loans have higher APRs than other types of loans, but because of the short payment plan, the rates are competitive.
Can I take multiple loans at the same time?
This depends mostly on the state regulations. If you are applying for a new loan, you will have to disclose information about other payday loans. This is a very bad idea and should never be considered if possible. Additionally, you should check your loan agreement for more details regarding multiple loans. But we urge you that taking multiple payday loans might ruin your finances.
How does the repayment work?
Your loan agreement will include all details of the repayment plan. The terms will vary depending on your lender as well as on your situation. You can set up automatic payments, and the lender will withdraw the amount of the loan plus interest, directly from your bank account on the due day. This will make sure you won´t forget the payment. If you have any problems with the repayment, contact your lender straight away. When you can’t pay back on time, you will have to pay additional fees and interest.
What if I can’t pay back in time?
If a new financial emergency arises and you know you won’t be able to repay the loan on time, you should contact your lender immediately. This can help you avoid potentially huge charges. State laws usually regulate the maximum amount that the lender can charge as a late fee. Be sure to check the state maximums for late payment fees. Some lenders might give you smaller penalty fees and interests if you notify them about payment problems and they can also give you extended time for repayment.
What if I can’t pay back my loan at all?
If you can’t or won’t pay back your loan, the lender will use any legal methods available to collect your debt. Most of the lenders will use in-house collection methods, but sometimes they might turn to collection agencies. The lenders in our network will not force any criminal actions against you even if you fail to repay. If you know you can’t repay the loan, inform your provider immediately, so you can avoid huge fees and minimize the damage.
Is my information safe?
Do I need to wait between applications?
Using our instant online application is completely free and it will connect you to lenders, who provide short-term online loans. Using our online form is easy and you can do it as many times as you would like. We do ask that you wait 72 hours between applications. If you have outstanding loans at the time of the application, include this information in the application form.
If you have questions regarding the loan you have taken or a loan offer you have received, you should contact the lender. You will get all the needed contact information with the loan offer.