Thirty answers about applying, qualifying, what a loan costs, how it is repaid, what Possible Finance reports and what it does with your data. Pick a category, or read straight through.
How the application works, what it asks for, and how long it takes. 5 questions.
What we require, what we review instead of a credit score, and what happens if we say no. 5 questions.
What a loan costs, how the fee is worked out, and what we never charge for. 5 questions.
How payments are collected, and what to do when a month goes wrong. 5 questions.
What we report, when, and how a small loan affects a credit file. 5 questions.
What we do with your data, and what we never do with it. 5 questions.
Everything happens online. You enter your details, connect your checking account read-only so we can review deposits, and see what you would be offered. Most people finish in under five minutes, and checking your rate does not affect your credit score.
Most decisions land within minutes. Once you accept, funds are sent the same business day and typically arrive by the next one. Transfers started late on a Friday usually settle on Monday.
Usually not. Income is verified from the deposits already visible in your checking account, so pay stubs are only requested in the minority of cases where the pattern is unclear.
Yes. Progress is saved against your email address, and you can pick it up on another device. An unfinished application expires after 30 days.
No. The application must be completed by the person borrowing, in their own name, using their own bank account and identification.
There is no number to reach. Approval rests on the deposits and balance history in the checking account you connect, so applicants with no score at all are assessed the same way as everyone else.
Be 18 or older, live in a state we serve, hold an active checking account in your own name with around 60 days of history, have a steady source of income, and provide an SSN or ITIN. The detail is on the eligibility requirements page.
Yes. Employment, self-employment, benefits, disability and pension income all count equally. What matters is that deposits arrive on a recognisable pattern, not the source they come from.
No, and none is needed. Every loan is unsecured and issued in a single name, so no guarantor is asked for and no possession is pledged against it.
You will receive an adverse action notice naming the specific factors, which is worth reading rather than filing. Re-applying after 60 to 90 days of steadier deposits often changes the outcome, and asking for a smaller amount can help too.
A flat fee, set once and disclosed before you accept. It does not compound and it does not grow if a payment is late. A representative $2,000 loan over 12 months carries a $350 fee, repaid at $195.83 a month.
APR restates the payment schedule as an annual rate so it can be compared with other credit. On the representative example above it works out at roughly 30.9%, even though the fee is 17.5% of the amount borrowed. The two numbers measure different things.
No. Nothing is deducted from the amount you borrow, so $2,000 approved means $2,000 deposited.
None. You can repay in full at any time. Because the fee was fixed at the start rather than accruing daily, paying early does not reduce the total, but it does close the loan sooner.
The fee does not increase and nothing compounds. A late fee may apply where state law permits it, and a missed payment is reported to the bureaus, so it is far better to contact us before the due date than after.
In equal monthly payments collected automatically from the checking account you applied with. The first is due 30 days after funding, and every payment is the same size.
Yes. You can move an upcoming due date in the app without a late fee, within the limits of the schedule. Doing it before the payment attempts is what matters.
Yes, at any time and in any amount, with no penalty. Extra payments shorten the schedule rather than reducing the fixed fee.
Contact us before the next due date. We can often adjust the schedule, and the earlier the conversation happens the more options remain. Our responsible lending page explains what we can and cannot do.
Missed payments are reported to the credit bureaus and the account may eventually be placed with a collection agency. We do not sue borrowers over small-dollar loans, and there is no collateral to seize.
Yes, to all three. On-time payments are reported from the first month, which is the mechanism by which a small loan can build history on a thin file.
No. Checking uses income and banking activity rather than a hard inquiry, so it leaves no mark on your credit file.
Reporting cycles are monthly, and scores usually move over several months rather than immediately. No lender can promise a specific increase, and any that does is worth distrusting.
Yes. Negative information is reported the same way positive information is. This is the main reason to borrow only what comfortably fits your month.
Contact support with the detail and we will investigate. If we reported something incorrectly we will correct it with the bureaus, and you also have the right to dispute directly with them.
We never see or store your banking credentials. The connection is read-only through a third-party provider, which means we can review transactions but cannot move money from the account outside the agreed payment schedule.
No. We do not sell personal information. What we collect, why, and how long we keep it is set out in the privacy policy.
You can request deletion at any time. Some records must be retained for a period to meet lending and anti-money-laundering obligations, and the privacy policy explains which and for how long.
No. There is no call to your workplace and no letter to your employer at any point in the process.
We never ask for a password, a full card number or a payment by gift card. If a message asks for any of those it is not from us, and forwarding it to support helps us shut it down.
Support answers within one business day, and the same day for anything affecting an active account. For questions about a specific offer, have the application reference to hand.