How We Operate
Borrowing money online with our service is fast, easy and safe.
You get started by filling the loan request form on our website. Make sure that you fill all the required fields with honest information and then submit your request. Loan limit ranges from $100 to $5,000. Before you submit request, make sure that you meet the following basic requirements:
- You should have worked for your current employer for at least 30 days
- You must be a permanent resident in your state or a US citizen
- Must have an active checking account registered in your name
- Must provide contact information including your telephone number and email address
- Your net income should be at least $1,000 per month
The inquiry process
Once you submit your request for funds by completing our request form, we match you with one of the lenders in our network. The lender may require further information from you to verify the details provided such as your employment status. We advise borrowers to provide honest information for positive feedback from lenders. It is not guaranteed that lenders will approve all requests. They make decisions based on the information provided. In addition, we cannot promise instant approval of loan requests because lenders take a few minutes to verify your details.
If your request is approved, your lender will give you an offer and outline the terms and conditions that apply to the loan.
You can either accept or reject the offer based on your evaluation of the terms. You can consult your legal adviser if you do not understand the terms to avoid mistakes. Loan terms and conditions are only binding after signing the loan contract. Do not accept any offer if you feel the fees and rates are too high. If you find the offer favorable, simply provide an e-signature on the loan contract as required by your lender. The lender will transfer the requested funds to your checking account. You can access the funds as soon as your bank completes the transfer transaction and credits your checking account.
Loan repayment and rates
The repayment plan depends on type of loan that you choose. A payday loan is due on your next payday, usually at the end of the month. This means that you will have just a few weeks to pay in full. An installment loan has a longer repayment period. Your lender will advise you on the amount to pay every month and the repayment period. Lenders charge different interest rates and fees for payday and installment loans. However, the cost is within provision of state laws. Laws on unsecured personal loans protect borrowers from unfair and exorbitant interest rates. It is advisable to read the loan terms in your state before you borrow money online. We partner with lenders who charge fair rates and fees within the law.
Visit our rates and fees page for more information about costs of unsecured loans.
Late payments and loan extensions
Your lender will advise you on the terms for late payments and extensions before you sign the loan contract. Lenders handle late payments differently but you will incur an additional cost on fines and penalties if you pay your loan or installment late. Your aim should be to borrow money that you can pay on time as agreed with your lender.
Provisions for loan extensions are rare for unsecured personal loans. Do not request for funds with an intention of negotiating for a flexible repayment plan. Most lenders have a fixed repayment policy because unsecured loans are associated with high risks. Consider your monthly expenses and income before requesting for funds to be sure that you can honor your obligation. It is advisable to automate your repayment so that you do not forget to pay on time.
Lenders have different policies on non-payment or loan default. We understand that sometimes unexpected circumstances may cause you to default on your loan. However, we have no control over the methods that lenders use to collect the amount owed. Our network includes lenders who use fair means and observe the law when demanding for payment. However, the law allows lenders to submit details of defaulted loans to credit bureaus. They can also seek help from collection agencies or file a lawsuit to collect their funds.
Borrowers may end up paying high costs for defaulted loans including penalties and legal fees. Avoid borrowing money if you have no intention or means of repaying the loan on time. It is advisable to use alternative means to raise cash like borrowing from friends or family instead of requesting for a loan that you cannot repay.