FAQ
Trusted Installment Loan Provider
Contact us today for more information or read our frequently asked questions below!
Is this a cash advance?
Yes, this is a Cash Advance in the form of an Installment Loan Agreement. An installment loan is a product that is repaid with a fixed number of periodic payments generally due on paydates. The payment schedule, including payment amounts and payment dates is included on your loan agreement. An installment loan gives you the flexibility of paying back your loan over a greater period of time than a traditional payday loan while also offering the ability to pay the loan in full at any time without penalties.
We encourage our customers to pay back the loan as soon as they can or to make additional payments to reduce the overall cost of the loan.
Why would an Installment Loan be best for me?
Installment Loans are better than payday loans because there are no hidden fees, all the payments are the same so they are easier to budget for, and since you are always paying some principal with each payment, the customer doesn’t have to come up with a big chunk of money to pay off the loan all at once. All this gives our customers a sense of comfort and pride knowing that they can pay off their loans on their own, and stay out of a cycle of debt.
Is My Loan Secure and Confidential?
We transact all our loans on our secure SSL server, utilizing the industry’s highest-standard. Please review our privacy policy for more information.
How much can I get?
All customer loan limits will be based on the amount of direct-deposited income. The more income a customer makes, the higher the lending amount up to $1,500. As a guideline, we’ve found that any customer shouldn’t borrow more than 30% of their monthly net income. If you prove that you can make your loan payments on time, and with ease, we can possibly increase your credit limit and lower your rate. We will match or beat any rate in the industry.
What if I'm on a fixed income?
FatMoneyLoans.com welcomes all Social Security, Disability or Pension recipients to apply. You will not be disapproved simply because of your fixed income status. We know that EVERYONE needs help occasionally.
Can I get the loan if my credit is not perfect?
Yes! Perfect credit is NOT required! All applicants will be given the same consideration. We do not “pull your credit,” and bad credit is not a problem. Lots of good people have bad credit.
What is the term of my loan?
This is an installment loan. Loan terms will vary but generally correspond to your income dates.
Can I get an extension on my loan?
Yes! You may request a 5 day courtesy extension of your due date with no additional fee. This option is available once per loan.
How much money can I borrow, and what are your fees?
Our loans range from $200 – $1,500. Fees vary from $10 – $30 per $100 borrowed per pay period depending on length of loan and status as a customer. The APR is generally between 200% and 500%, but refer to your loan agreement for the exact APR. Loan terms include Weekly, Bi-Weekly, Semi-Monthly and Monthly. The maximum APR may be 730% and depends how close your first payment is to the loan funding date.
How will I know if I'm approved?
One of our Loan Managers will contact you and/or you will receive an email notification to complete the application process.
Which states do you solicit business in?
We are a licensed installment lender in the great state of Utah.
Can’t Find The Answer?
If you can’t find the answer you’re looking for please don’t hesitate to contact us.