The Preferred loans application is quick, easy and completely secure. Apply now and you could get your money deposited into your account as soon as the next business day .
Preferred Loans strives to set you up for success from the very beginning. We offer Preferred Installment Loans so that you can get the money you need now, but also have affordable payments for up to 6 months. You also have the option of being able to pay off your loan early without any pre-payment penalties.
With a Preferred Installment Loan, the amount you can borrow is from $625 to $1500. Our Installment loans are paid back with a set number of scheduled payments. The terms of your loan are approximately 6 months, depending on the amount borrowed and your pay cycle. You have the right to rescind your loan within 3 days of signing your loan contract by emailing us at [email protected].
The APR (Annual Percentage Rate), repayment amounts and payment schedule will vary depending on the specific details of your loan, which can be found in your loan agreement. The APR is the finance charge of your loan expressed as a yearly rate. Complete disclosures of APR, fees and payment terms are provided within the Loan Agreement per TILA (Truth-In-Lending Act Disclosures). Preferred Installment Loans can be paid off early without penalty. CUSTOMERS ARE ENCOURAGED TO PAY MORE THAN THE MINIMUM PAYMENT AMOUNT TO REDUCE INTEREST COSTS.
*Loan terms vary based on income dates
**Annual Percentage Rate: The APR is the cost of your loan expressed as a yearly rate. The APR may vary depending on the actual loan term. The APR will increase if the actual loan term is shorter than this example and will decrease if your loan term is longer.
Product types and maximum loan amounts vary by market. Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision.
Not all applications are approved; duration of approval process may vary.
If your loan is approved before 9:00 PM ET from Monday through Thursday, or before 6:30 PM ET Sunday, the funds will typically be deposited into your bank account the next business day, otherwise, your funds will be deposited into your bank account in two (2) business days. The date and time funds are made available to you are subject to your bank’s policies.
Installment loans should be used for short-term financial needs and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.
This service is not intended to provide a solution for all credit needs. Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings, or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs.
Late fees and insufficient funds/returned item fees may apply as described in your loan documents. We will never charge any fees that are not fully disclosed in your loan documents.
If you don’t make a payment on time, we will attempt to contact you via one or more authorized methods. Our collections methods will be in accordance with the guidelines of the federal Fair Debt Collection Practices Act (FDCPA). Because we may report your payment history to one of more credit bureaus, late or non-payment of your loan may negatively impact your credit rating. If you fail to repay your loan in accordance with its terms, we may place your loan with a third-party collection agency.
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.