Not all applicants will qualify for our loan products or for the lowest interest rate for a particular loan product. Pricing and the amount qualified for will vary, depending on the business and the owner’s situation.
Below is a representative example of a business seeking $10,000 for a loan for their business.
|Loan Amount||Origination Fee (Deducted from Proceeds)||Borrower Proceeds|
|$10,000||$500 - $1,000||$9,000 - $9,500|
Payments on the loan are made on a monthly basis with terms ranging from 2 to 10 years. The amount you will pay is based on various factors such as the business owner’s credit worthiness and the term of the loan.
|Overall Score of Applicant||Loan Amount $50,000 - $100,000|
|Interest Rate||Starting payments at**||Max Loan Term|
** Monthly payments based on a loan amount $50,000
|Overall Score of Applicant||Loan Amount $3,500 - $75,000|
|Interest Rate||Starting payments at*||Max Loan Term|
|Very Poor||149%||$462.45||24 mo|
* Monthly payments based on a loan amount $3,500.00. Minimum loan amount will vary by states.
Yes. Repaying your loan early can save you on your interest expense, so we recommend you pay off the loan as soon as possible. Many customers also make partial repayments if they can’t afford to pay off the loan entirely. We have no hidden fees for early repayment and you will save money as we only charge interest for the days that you borrow. If you would like to make prepayments or pay the loan off early, call us at (877) 525-2274 and one our agents will gladly assist you. For payment options, please refer to our FAQ.
|Origination Fee||10% of $15,000 = $1,500|
|Total Funds Wired||$13,500|
|Terms of the Loan||120 Months|
|Minimum Monthly Payments||$498.23|
|Scenario 1||Scenario 2||Scenario 3|
|Pay off in 10 days||
Pay off in 6 months
(equal payments of $2,791.95)
|Pay Minimum Monthly Payments for Full Term of Loan|
|Time to Pay Off||10 days||6 months||120 months|
Total Financing Costs
Total Financing Costs
(as % of Funds Wired)
(we suggest you pay off early, even though you can keep the loan for 120 months)
We only let customers have one loan at a time, so you will have to repay your loan before we give you another loan. By repaying your loan responsibly you will qualify for lower origination fees on additional loans and may qualify for a lower rate and a higher borrowing limit. In addition, you may be building your credit.
|Amount of 2nd Loan (if qualified)||$30,000|
|Origination Fee||5% = $1,500 (compared to 10%)|
|Total Funds Wired to You||$28,500 (Origination fee deducted from total amount)|