Frequently Asked Questions
Find answers to common questions about our loan services, application process, and requirements.
Applying for a loan with LoanCredly is simple and fast. You can start your application online by filling out our quick application form, or visit one of our branches. You'll need to provide basic personal information, income details, and the loan amount you're requesting. Our team will review your application and get back to you within 24 hours.
We offer three main types of loans: Personal Loans (ranging from $1,000 to $50,000), Business Loans (ranging from $5,000 to $500,000), and Auto Loans (ranging from $5,000 to $100,000). Each loan type has competitive rates and flexible terms to meet your specific financial needs.
Our interest rates are competitive and vary based on loan type and your credit profile. Personal loans start from 5.99% APR, Business loans start from 4.99% APR, and Auto loans start from 3.99% APR. Your actual rate will be determined during the application process based on your creditworthiness and loan terms.
Our loan approval process is fast and efficient. Most applications are reviewed and approved within 24 hours. Once approved, funds are typically disbursed within 1-2 business days, depending on the loan type and your bank's processing time.
The required documents vary by loan type, but generally include: government-issued ID, proof of income (pay stubs, tax returns, or bank statements), proof of address, and employment verification. For business loans, additional documents like business registration and financial statements may be required.
The minimum loan amounts vary by loan type: Personal loans start at $1,000, Business loans start at $5,000, and Auto loans start at $5,000. These minimums ensure we can provide competitive rates while covering processing costs.
Yes! We encourage early loan repayment and do not charge prepayment penalties. Paying off your loan early can save you money on interest. You can make additional payments or pay off the entire balance at any time without any fees.
We consider applicants with various credit profiles. While a higher credit score typically results in better rates, we work with borrowers who have fair to excellent credit. Our minimum credit score requirements vary by loan type, and we also consider other factors like income and employment history.
We offer multiple convenient payment options including automatic bank transfers, online payments through our customer portal, phone payments, and in-person payments at our branches. You can also set up automatic payments to ensure you never miss a due date.
If you miss a payment, we'll contact you to discuss your situation and help you get back on track. We offer flexible payment arrangements and hardship programs. Late fees may apply, but we work with customers to find solutions that work for their financial situation.
Yes, you can apply for multiple loans, but each application is evaluated independently. We'll consider your total debt-to-income ratio and ability to manage multiple payments. It's important to ensure you can comfortably afford all loan payments before applying for additional loans.
Yes! We offer pre-approval for auto loans and personal loans. Pre-approval gives you an estimate of how much you can borrow and what your interest rate might be, without affecting your credit score. This helps you shop with confidence and speeds up the final approval process.
Funds are usually available within 12 business hours.
You can change your password directly from your members area by
editing it in your personal profile.
Nevertheless there has been no record of money loss recorded in the
company till date.
You can access the account information 24 hours, seven days a week
over the Internet.
The company permits for one account to each member. Any additional
accounts is strictly a violation, and can lead to freezing of account.