What is a payday loan?

This is a small, short-term, no-collateral cash advance usually under $1,000. These loans are backed by future income, which may be your next paycheck, a dividend or other type of regular income. The term of the loan is usually thirty days or less.

Please use payday loans responsibly.

What is an installment loan?

This is a small, short-term, no-collateral cash advance usually under $5,000. These loans are backed by future income, which may be your next paycheck, a dividend or other type of regular income. They are paid back in a set number of scheduled payments. Please use installment loans responsibly.

How does USANewLoan.com work?

USANewLoan.com is not a lender and does not make credit decisions. USANewLoan.com is a loan connecting service that connects consumers who are looking for financial assistance with independent, third party lenders who may be able to provide a loan.

USANewLoan.com connects you with lenders based on the loan you are looking for. USANewLoan.com is committed to working with lenders who offer you the best terms available.

The process is simple and begins with filling out the form. The information you provide is shared with third party lenders who may make you a loan offer. There is no obligation to accept the offer, but if you do, the lender will provide further instructions.

These individual third party lenders each have their own terms and conditions. Please consult these before accepting the loan offer. In particular, check for information on APR, fees, renewal terms and consequences of non-payment. If you have any questions about your loan, please contact your lender.

Does USANewLoan.com charge a fee to connect consumers with independent, third party lenders?

The process of registering with USANewLoan.com is free for the consumer (you). We are paid by independent, third party lenders for potential customer referrals. These third party lenders will have their own fees, APR and terms. These charges come directly from the lender and not from USANewLoan.com.

These fees and charges will be provided to you at the time of the loan offer, if one is made. There is no obligation that you accept them. The loan is accepted by you when you electronically "sign" the offer and send them back to the lender. Please read all documents for the terms and conditions of the loan.

How much can I borrow?

The amount that you can borrow depends on the type of loan. The first step is requesting a loan amount -- payday loans are usually between $100 and $1,000 and installment loans range between $100 and $5,000. In some cases, you may receive a loan offer. These offers vary for several reasons including the individual lender, employment, income and other factors.

If approved for a payday loan by an independent third party lender, how quickly could I receive it?

The transfer into your bank account could happen as early as the next business day. This will vary depending upon your lender and your financial institution. If you have additional questions regarding the transfer time, please contact your third party lender.

What are the minimum requirements to apply for a loan?

The following constitute typical minimum requirements, although individual, third party lenders have different minimum requirements:

  • Be at least 18 years of age or older
  • Have a checking or savings account with direct deposit
  • Have regular income of at least $1,000 per month
  • Have a fair credit rating (for personal loans only)
  • Must not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps, or Navy (or a dependent thereof), serving on active duty under a call or order that does not specify a period of thirty days or less

What information do I have to share in order to register with USANewLoan.com?

The information that you may provide includes, but is not limited to your name, address, telephone number, place of employment and/or source of regular income, driver's license number, bank account information and social security number. The third party lenders may perform a credit check or use other methods to verify the information you provide.

Is the information I provide secure?

USANewLoan.com employs a number of state of the art security measures. These measures are designed to keep your information secure. In addition, all sensitive data transmitted between your browser and USANewLoan.com uses 128-bit Secure Socket Layer (SSL) encryption technology. Your use of our services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy.

How long does a loan transaction take?

The time frame from registering with USANewLoan.com until being made an offer by an independent, third party lender can be as fast as one business day. There are a number of factors that may impact this, including the time of day you apply, the accuracy of your registration, the lender and your financial institution.

When must I repay my loan?

USANewLoan.com is not a lender, we are an advertising referral service to qualified third party lenders. The independent, third party lenders each have their own terms and conditions, including those concerning repayment. Please contact your lender for information about the date and time for repayment as specified in your loan agreement.

Will independent, third party lenders perform a credit check and what are the credit implications?

They may do so. They may check to verify the accuracy of the information you have provided and/or to review your information to see how it compares to the records of national databases. In addition, lenders may verify your social security number, driver's license number, banking information or any other information you provided. Please keep in mind that multiple inquiries to the "Big Three" credit bureaus (Experian, Equifax and Transunion) may result in a lowering of your credit score; therefore, you may want to register for a loan, one at a time.

Will my loan be automatically renewed?

The answer to this question depends upon the state you live in and the lender. The lenders each have their own renewal policies and each state has their own laws regarding automatic renewal of payday loans as well. Please ask your lender if your loan will automatically renew or if they will request your permission beforehand. The renewal of a loan will likely result in the addition of fees and interest to your loan balance. Please make yourself aware of these fees before agreeing to any loan renewal.

What are the implications of late payments and non-payment?

This varies by lender, so check with your lender before agreeing to the loan offer. Please be fully aware of the consequences of late payment and non-payment.

Is approval guaranteed?

There is no guarantee that you will be approved by one of our participating lenders.

What if I am unable to repay my loan according to its terms?

USANewLoan.com is not a lender. Please ask your lender what the implications of non-payment are. The penalties for lack of repayment may, however, include:

  • Addition of late fees
  • Your account being forwarded to a collection agency
  • Report your lack of payment to a consumer credit agency (thereby lowering your credit score)
  • An offer to renew your loan, which will result in additional fees and/or interest