FAQ | Lend-A-Dollar: Personal Loans, Lines of Credit, Cash Advance

Frequently Asked Questions

These are the questions most commonly asked by Lend A Dollar Account Holders.

When will the payments be due?

Generally, on your following payday or you may pay the finance charge and extend full payment until your next payday.

How much can I borrow?

Up to $1000.00. (Contingent upon income level and various underwriting criteria.)

When will I receive my Short Term Loan?

If all information is received by 1:00 p.m. and can be verified, you will generally receive your money on the next business day.

When will I hear from you? How will I know if I’m approved?

Our automated process will guide you through all the steps required to receive a loan. You will know the result immediately upon finishing your application. Not all applications are approved. Maximum loan amounts, and loan terms vary by state. Lending decision and funding timeframes are subject to system limitations. Some applications may require additional verification which may delay lending decisions.

Once paid off, when can I get another Short Term?

You must wait three (3) business days. We may ask you to prove that the previous Short Term has been actually paid in full by providing us a bank statement showing proof of a non-pending payment.

What is the cost of credit?

Please see Fee Schedule for total costs on a 154 day loan in which payments are made bi-weekly. Your loan fees may vary depending on the amount of the loan, term of the loan and the repayment schedule (including bank holidays) See your loan documents for total fees and cost of credit for your specific loan.

Can I pay early?

Yes you can prepay your loan without penalty. If you do pay early, your interest will be adjusted so you are only charged for the days the loan is outstanding. If you do pay early, then the minimum fee will be 28% of the original principal balance of the loan.

If I don’t have enough on my payday to cover the balance, may I obtain an extension?

You may apply for an extension using our online customer panel, by phone or email, at least three (3) days 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.

May I cancel this loan if I decide against it?

Yes, you may cancel the loan by notifying us by midnight on the 3rd day after the date the contract was signed and returning the loan proceeds.

Texas Customers: Lend A Dollar is a Credit Access Business in Texas doing business in accordance with Chapter 393 of the Texas Finance Code. Lend A Dollar does not make credit decisions and does not offer loans in Texas. Lend A Dollar arranges and services your loan for a fee. In Texas, loans are made by an unaffiliated third party lender, and all credit decisions will be made by the third party lender. The lender may perform a credit check or otherwise verify the information you provide. The lender may not offer loans up to the advertised amount and it may not provide you with the loan amount you requested. Loan amounts are determined by the lender based on individual creditworthiness. You are NOT required to accept the terms of the loan that a lender offers you. If you don’t agree with or don’t like the terms of the loan offered by the lender, do not electronically sign the loan documents.

For details, questions, or concerns regarding your loan please contact us directly. In some situations, faxing or emailing of documents may be required. Consumer Notice: An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges. Borrow Responsibly – Late or missed loan payments may result in additional finance charges and fees, your account falling into collections, and may negatively impact your credit history. Consumers experiencing credit difficulties should seek credit counseling or meet with a nonprofit financial counseling service in their community. Every loan, no matter how big or small, is a debt that must be repaid. If a loan is not paid when due it may result in: Additional finance charges and fees, The account falling into collections, Negatively impacting your credit history. It is important to understand the terms and conditions as well as the resulting obligations of your loan before signing the agreement. Please read the loan document carefully, review the financial implications of late and non-payment, and ask your Lender to explain anything you don’t fully understand. If you are having trouble making your loan payment, give your Lender a call. They may be able to work with you to refinance or extend your loan. The options available depend on your Lender’s policies, your state and local laws, and other factors. However, keep in mind that extending or refinancing your loan will result in additional finance charges and fees. Only your Lender can provide the specific repayment options and details if you can’t repay your loan on time. Responsible Borrowing: Florida Financial Management LLC strives to connect you with a long-term financial solution and adheres to the OLA Responsible Lending Policy. A short-term loan is an expensive form of credit intended for short-term financial needs only, and should not be used as a long-term financial solution. Before taking out a loan consider how it will affect your finances in the future. We recommend creating a realistic budget that includes the loan payment. If you don’t have enough money to pay all of your living expenses, debts, and the loan payment you should reconsider the loan because owing more than you can afford to repay can damage your credit for years to come. Please follow these responsible borrowing practices: Consider all your options, Borrow only what you can afford to repay, Provide complete and accurate information to the Lender, Read the terms and conditions carefully, Ask questions if you don’t understand something, Budget for repayment, Avoid over-borrowing. Consumer Advisory: Our lender partners will never ask for advance payment.

* - Actual cost might vary depending on the Lender and repayment schedule. $1 per day for every $50 borrowed is representative of a 730% APR. ** - Instant Funding is only available to selected VIP customers subject to payment processor availability.

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