Fast Loans from 
$50 to $700
 

Underwriting Requirements for New Loans

To qualify for a new loan, all applicants must meet each of the following requirements:

1) Must maintain an account with a physical, local bank
(Online-only or “neo banks” are not accepted, including but not limited to: Chime, SoFi, Capital One, Discover, Dave, Cash App, and similar institutions.)

2) Must have the bank’s mobile app installed on their phone and be able to access it in-store at the service window

3) Must demonstrate at least 60 days of recurring direct deposits from the same employer or source, with a consistent deposit frequency

4) Must have no activity within the past 90 days from any:
     a) Online payday lender
     b) Cash advance provider
     c) Short-term lending institution
     (Regardless of loan or advance amount)

 5) Bank account must display:
      a) Routing number
      b) Account number

6) Account balance must not be more than negative $50 at the time of underwriting

Initial Loan Limits & Conditions

Once underwriting requirements are satisfied, the following loan conditions apply: 
1- First loan repayment must be made via ACH debit (Cash payment not permitted for the first loan)
2- Three (3) business days cooling off for another loan
3- Each loan increases $50 after each paid loan

Loan Terms
1- First loan maximum: $100
2- First five (5) loan checks must be cashed at Dollar Smart1- Loan terms range from 2 to 16 days
2- Due on next direct deposit (pay) date
3- $3 fee per day for loans extending beyond 16 days
Term is calculated by:
1- Loan origination to due date.

Additional Loan Limit Adjustments
Each returned or failed payment results in a $100 reduction to the borrower’s loan limit