How much money can I lend to my customers? How long are the customer loan terms? How fast can my customer get approved for a loan? After loan is approved, how fast can I receive funding? How can my customer qualify for a loan? What documents are my customers required to supply? What are the interest rates charged to my customers? Is the interest rate variable or fixed? How long is the interest free loan period? What are the upfront loan fees? Is a down payment required? How does my customer make monthly payments? Does the loan include a prepayment penalty clause?

How much money can I lend to my customers?

Lending starts at a minimum of $1,000.00 and caps out at $30,000.00 depending on the FICO score of the customer.

How long are the customer loan terms?

Loan terms start at 12 months and can extend up to 84 months. If the customer pays of the loan within the first year, they will not incur interest charges stemming from the loan. If the customer pays off the loan before the initial period term, there will not be a pre payment penalty.

How fast can my customer get approved for a loan?

All loan applications will be submitted through an online portal. Once an application is submitted online the pre approval is usually retrieved within one or two minutes. Applicants with good credit usually get pre approved immediately. Once pre approval is submitted, additional customer documentation will be required to properly submit the loan application.

After loan is approved, how fast can I receive funding?

When your customer loan application has been approved and docs are submitted, verified and customer has taken delivery of the product, merchant will be funded by ACH within 24 – 48 hours.

How can my customer qualify for a loan?

Your customer must be gainfully employed for 12 consecutive months and earn at least $1,500.00 per month. They must not have any bankruptcies, judgments or liens within the last 12 months and must be at least 18 years of age with a FICO score of at least 550 or greater.

What documents are my customers required to supply?

-Drivers License or Legal US Identification -Two paystubs or tax returns for self employed customers -Photo copy of utility bill

What are the interest rates charged to my customers?

Interest rates start at 7.99 for good credit customers and go up to 17.99 depending on credit.

Is the interest rate variable or fixed?

We provide fixed interest rates for all customer loans.

How long is the interest free loan period?

If the customer pays off the loan within the first year there will be no interest charges applied to the loan and no pre payment penalties for early loan payoff.

What are the upfront loan fees?

There are no fees charged for applying for and accepting the customer loan agreement.

Is a down payment required?

Your customer is not required to provide a down payment.

How does my customer make monthly payments?

Monthly customer loan payments will be debited electronically, once monthly by automated clearing house (ACH) from the customers’ checking account.

Does the loan include a prepayment penalty clause?

No, there is not penalty for loan prepayment.

Call For More Information: 1 (888) 249-0605