- What is a short term loan?
A short term loan is an unsecured loan designed to help you pay for immediate expenses. They are considered short-term loans because the loan balance is typically due all at once on your following payday or over a small number of repayment periods.
- How does it work?
It’s easy to find a lender:
- Simply fill out the secure, two-minute online form.
- Once a lender decides to work with you, you will be redirected to the lender’s website to review and agree to the terms and conditions of your loan. The lender may contact you to verify your personal information and finalize the loan.
- Funds are typically deposited in your checking account the next business day.
- Does it cost anything to find a lender?
There is no cost to fill out a form and submit your information through the online marketplace. If a lender decides they would like to work with you, they will pay us a fee to acquire the lead information you submitted. As a marketplace, we do not receive any information which would allow us to evaluate or compare offers from potential lenders. Please carefully review any offer you receive from a lender to make sure it meets your needs and you understand the terms associated with the offer.
- How do I qualify?
To qualify for a loan, you must at least meet these basic requirements:
- You must be at least 18 years of age and a U.S. resident of a state serviced by a lender.
- You must have a recurring income source of at least $800 per month.
- You must have a valid checking account.
Other conditions may apply. Minimum requirements may vary from lender to lender.
- Is having bad or no credit OK?
Short-term lenders work with many people in various credit situations. If you have less than perfect credit, you may still be able to get the money you need. Not all lenders perform a traditional credit check with the three main credit bureaus, however, credit checks may be done through alternative providers. Request a free copy of your credit report.
- Do social security, pension, disability, and other kinds of benefits qualify as income?
If you’re collecting social security, pension, disability, or other kinds of benefits, a lender may find you eligible. If you receive at least $800 a month as well as meet other lender requirements, you may be able to get a loan. Other conditions may apply and will vary from lender to lender.
- Do you offer loans for non-residents or other countries?
Please remember that we are not a lender. Lenders, however, will only offer loan products to U.S. residents.
- What are the terms and details of my loan?
Please remember we are not a lender. If a lender is interested in working with you, you will be redirected to the lender’s website where you are presented terms and conditions of the loan. The loan terms, rates, APRs and fees are determined solely by the lender and vary from lender to lender.
- How do I know if I was approved?
We tell you! Once a lender decides to work with you, you will be redirected to that lender’s website.
Also, check your email to see if you have received an email from your lender. Don’t forget to check your “Junk” or “Spam” folders.
- How soon do I get my money?
Once you accept the loan offer from a lender, funds can be deposited in as little as 24 hours.* Please keep in mind, if you have been approved over the weekend or a holiday, funds are usually deposited on the next business day.
- Why was I denied?
Please remember we are not a lender and we do not make lending or credit decisions. Many factors are considered during the evaluation process and vary from lender to lender. However, a loan request may be denied based on debt to income ratio, history of late payments, defaulting on debts, or multiple active short-term loans. Additionally, short term loan products are not offered to residents of all states.
- What happens if I’m late on a payment, don’t pay the loan back, or default on the loan?
Contact your lender immediately to discuss payment arrangement options. We are not a lender, and the loan terms, rates, APRs and fees are determined solely by the lender and vary from lender to lender. Late payments could result in extra fees and being sent to collections. Make sure you understand all loan terms before agreeing to the loan.
- What if my identity was stolen or I was the victim of a scam?
If you received funds for a loan that you did not apply for, or feel that your personal information was used to obtain a loan, contact your bank and the lender immediately to reverse the deposit. Report the incident to your local police department and the following entities: The Internet Crime Complaint Center (IC3) and the Federal Trade Commission (FTC) at 1-877-438-4338.