How Our Online Loan Application Works

The process, step by step

1. 1

   Start your application

   Choose how much you’d like to request, from $200 to $5,000, and complete the online application.

2. 2

   Your information goes to participating lenders

   Your application is shared with lenders in our partner network so they can evaluate it.

3. 3

   A lender reviews your application

   Each lender uses its own criteria, which may include a credit check and income verification.

4. 4

   Review any offer

   If a lender makes an offer, you’ll see the amount, APR, fees, payment schedule, and total repayment. You may be taken to the lender’s website to continue.

5. 5

   Accept and sign, or decline

   If the terms work for you, you sign the loan agreement directly with the lender. If not, you can walk away.

6. 6

   Receive your funds

   The lender sends the money to your bank account. Timing depends on the lender and your bank.

7. 7

   Repay the lender

   You make scheduled payments to the lender, often through automatic payments, until the loan is paid off.

What you’ll need

Exact requirements depend on the lender, but applications usually ask for:

• Personal details: name, date of birth, address, email, and phone number
• Identity: your Social Security number
• Income: your source of income, how much you earn, and how often you’re paid
• Bank account: an active checking account in your name for deposits and payments
• Your request: how much you’d like to borrow and what it’s for

See who can apply for common eligibility requirements.

Reviewing an offer

Before you accept, check these terms in the lender’s disclosure:

• APR, which reflects interest plus certain fees
• Fees, such as origination, late, or returned-payment fees
• Payment amount and schedule, and whether it fits your budget
• Total amount you’ll repay over the life of the loan
• Prepayment terms, in case you want to pay the loan off early

If you’re an active-duty servicemember or a covered dependent, the Military Lending Act gives you additional protections, including a 36% cap on the Military Annual Percentage Rate for most consumer loans. Learn more on our rates and fees page.

If you’re not approved

Lenders may decline an application because of income, credit history, existing debts, or where you live. If that happens, you may still have options:

• If your employer offers earned wage access, such as Payactiv, you may be able to access part of the pay you’ve already earned. See how Payactiv works.
• Consumer apps and credit union payday alternative loans are compared in our alternatives guide.
• Ask the company you owe about a payment plan or an extension.
• A nonprofit credit counselor can help you build a budget or a plan for existing debt.

How your information is used

When you submit an application, your information is shared with lenders and partners in our network so they can review your request and, if appropriate, contact you about an offer. The application form will show the specific consent you’re giving before you submit it.

Tips for a smoother application

• Use the same name and address that appear on your bank account and ID.
• Enter your income accurately, including how often you’re paid.
• Have your bank account and routing numbers handy.
• Request only what you need; a smaller loan costs less overall.
• Read every offer fully before you sign.