Q: When will the payments be due?
A: Generally, on your following payday or you may pay the finance charge and extend full payment until your next payday.
Q: How much can I borrow?
A: Up to $3000.00. (Contingent upon income level and various underwriting criteria.)
Q: When will I receive my Short Term Loan?
A: If all information is received by 1:00 p.m. and can be verified, you will generally receive your money on the next business day.
Q: When will I hear from you?
A: You will hear from us within one (1) business day or sooner upon receiving the necessary information. We will contact you with an offer or email you for missing information. We are closed on weekends and holidays.
Q: How will I know if I’m approved?
A: We will contact you with a Short Term offer. If denied, you will receive a notice by mail.
Q: Can I extend the Short Term Loan?
A: Yes, after 4 renewals you will be required to pay down a portion of your principle plus any finance charges.
Q: Once paid off, when can I get another Short Term?
A: You must wait three (3) business days. We may ask you to prove that the previous Short Term has been actually paid in full by providing us a bank statement showing proof of a non-pending payment.
Q: What is the cost of credit?
A: We charge two dollars of interest on every $100 borrowed. The interest is charged daily. The daily interest rate is 2%.
Q: Can I pay early
A: Yes, we do not charge a prepayment penalty, and if you do pay early, your interest will be adjusted so you are only charged for the days the loan is outstanding.
Q: If I don’t have enough on my payday to cover the balance, may I obtain an extension?
A: You may apply for an extension by phone or email, at least three (3) days prior to your scheduled due date. At a minimum, you will be required to pay the interest due on the due date, and we encourage you to pay some toward reducing your principal loan balance at the time of an extension. If you do pay extra toward principal, you will reduce the amount of interest you would otherwise pay.
Q: May I cancel this loan if I decide against it?
A: Yes, if you notify us by 5:00 pm the next business day, you may rescind your loan, and we’ll simply withdraw from your account the amount we deposited into your account