FREQUENTLY ASKED QUESTIONS
How does an online loan work?
Once you have submitted your loan request, we will attempt to connect you with a lender. If we are successful with finding you with a lender, you will then be forwarded to the lenders’ e-signature documents and terms for your review. Once the appropriate documents are acknowledged, you will then move ahead with the remaining steps of the application, including deposit, via the lender. In certain instances you may expect an agent to call you to guide you through the remainder of the process.
How much can I borrow?
The amount a lender or lending partner is willing to offer you depends on how the lender or lending partner evaluates a number of factors, including your state of residence and applicable legal restrictions (loans are not available in all states). If approved, many lenders or lending partners in our network will loan between $200 and $5,000.
How will I know if my loan is approved?
After you submit your online loan request, if successful, you will be redirected to a page containing the lenders terms. The terms should clearly present you with the exact fees and interest rate of your loan prior to your acceptance of the loan. In some cases you may receive an e-mail from the lender advising you that your loan request is being considered for approval, pending verification of the information you have provided. Once you have reviewed the lender terms, and the terms have been confirmed and acknowledged via e-signature, it is common that that the acceptance of your loan will be approved, and fulfillment of the loan will move ahead as noted in the lender terms. This process does vary by lender, and in some instances, a customer service representative may need to contact you to finalize your request.
How will I receive my money?
In most cases loans are deposited directly to your bank account based on the schedule that was presented in your loan agreement with the lender. We suggest that you always read these terms very carefully to ensure these repayment dates and amounts are clearly understood and acknowledged.
How long does this process take?
Our simple and secure online form should only take a few minutes to complete. After we receive your information, we immediately start looking for a lender or lending partner that is willing to work with you. You should have a response from one of our lenders or lending partners within minutes. Final approval and funding can very based on the lender that your are working with, but generally deposits are often done in as little as 24 to 48 hours.
How do I pay back a loan?
If a loan request is approved by a lender, the repayment amount and schedule will be based on the terms offered by the lender during your application process. FreshwayFinancial.com does not decide of have influence over the repayment amounts or schedules. In most cases repayments are typically withdrawn directly from your bank account based on the schedule that was presented in your loan agreement with the lender. We suggest that you always read these terms very carefully to ensure these repayment dates and amounts are clearly understood and acknowledged.
What are the implications of a late payment?
FreshwayFinanical.com is not a lender. We are an independent loan connecting service that helps you find a lender from among our entire network of lenders. Once you are connected with a lender your loan agreement will contain important information about the implications of a late payment or non-repayment. Some lenders may provide the option of making an interest-only or partial payment on a limited basis for an additional fee. Late payments of loans may result in additional fees or collection activities, or both. Non-payment of credit could result in collection activities. Each Lender has their own terms and conditions. We encourage each applicant to thoroughly review all terms and policies provided by the lender whom approved their application. This includes, but is not limited to, potential penalties incurred if terms of the lender agreement are not met.
Do you provide loans to military personnel?
Most lenders will not lend to Military members or their dependents.
Do you adhere to a responsible lending?
Although FreshwayFinancial.com is not a lender, our network of lenders and lending partners are responsible for adhering to all state and federal lending laws. Most lending partner are members of CFSA and/or OLA and are committed to adhering to the CFSA Bill of Rights as well as OLA standard practices.
What are the loan fees? – Including the annual percentage rate (APR)
Please note that loan fees may vary, but once you are connected with a lender your loan agreement will contain important information about loan fees and the annual percentage rate. Lenders are required by law to disclose this information to you. You should always shop around for the best loan pricing you can find. Do not be scared by APRs that are in the triple digits (example 506%). Remember, the A in APR stands for annual. A cash advance loan is typically for 14 days, not 52 weeks. In most cases, fees typically range between $10 and $30 per $100 borrowed. If you wish to learn more about APR and fees, please click here.
What is the loan renewal policy?
Once you are connected with a lender your loan agreement will contain important information about the lender’s renewal policy. The ability to refinance or “rollover” a loan may depend on where the lender is licensed. Every Lender has its own renewal policy, which may differ from Lender to Lender. Please review your Lender’s renewal policy.
Do you comply with other state or local regulations related to short-term loans?
It is important that you work with a lender that follows the laws set by national, state and local governing bodies. FreshwayFinancial.com is not a lender. We are a connecting service that helps you find a lender from among our entire network of lenders. When you receive your loan documents, read them carefully before you sign to learn which state or country the lender operates in. You can also check online for complaints about a particular lender.
How is my information kept secure?
We use industry-recognized security and advanced encryption technology to protect your personal information. Your information is transmitted and stored securely in an encrypted format. If you wish to review our complete privacy policy, please click here.