Cash Payday Loan - Frequently Asked Questions
Q: What is the cost of credit?
A: Typical loan terms are for 14-days, at the rate of 860.36% APR, the finance charge would be $99 for $300 borrowed. Please see our FEE SCHEDULE for the APRs of loans with other terms.
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 calling us, at least 24 hours 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 4:00 pm MST the next business day, you may rescind your payday loan, and we'll simply withdraw from your account the amount we deposited into your account.
Q: When will the loan be due?
A: Generally, 14 days after your loan funds, or you may pay the finance charge and extend the loan further.
Q: How much can I borrow?
A: Up to $300.00. (Contingent upon income level and various underwriting criteria.)
Q: When will I receive my loan?
A: If all information is received by 1:00 p.m MST. 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 a loan 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 loan offer. If denied, you will receive a notice by email.
Q: Can I extend the loan?
A: Yes, after 6 extensions you will be required to pay down a portion of your loan plus any finance charges.
Q: Once paid off, when can I get another loan?
A: Yes. We may ask you to prove that the previous loan has been actually paid in full by providing us a bank statement showing proof of a non-pending payment.
Q: What is the fastest way to process my application?
A: Complete the application, print it, and fax it with your most recent bank statement (within 30 days), voided check, and most recent pay stub...all at once.