Personal Loan FAQs

Since 2004.

No. Unfortunately, we are only able to help customers who live in the state of Ohio.

America’s Loan Company is a direct lender. We take care of our customers from the moment of application and until the loan is paid off. (Online payment option)

America’s Loan Company is licensed through the Ohio Division of Financial Institutions. We are only able to help customers who live in the state of Ohio.

Not only is America’s Loan Company licensed through the Ohio Division of Financial Institutions, but we are also accredited through the Better Business Bureau.  Follow this link to see our Better Business Bureau Page  https://www.bbb.org/us/oh/london/profile/loans/americas-loan-company-llc-0302-70019097#bbbonlineclick.

About Credit Scores

As of September 2022, America’s Loan Company is running Soft Credits on loan applications.  This means that it should not affect your credit score.  However, we may run a Hard Credit once a loan offer is accepted by the applicant.

We are able to lend to customers who have no credit scores. We don’t guarantee that you will be approved but we do cater to customers who may not be able to get a loan from the local bank due to having too low of a credit score.

Yes.  America’s Loan Company would report your payment history to TransUnion

Types of Loans

Yes.  You may have any number of payment due dates changed any number of times through out the loan term.  Any payment that becomes more than 30 days past due would affect your credit score.

It depends on several factors like your credit score, loan amount, term of loan, among others. We may charge an interest rate ranging from 17% to 25%. The maximum state of Ohio allowed interest is 25%. However, do keep in mind that the A.P.R. will be higher than the interest since it will include other loans fees, such as origination fees.  Also A.P.R. figures are affected by the term or length of the loan.  The shorter the length of the loan the higher the A.P.R. will most likely be.

No.  We can complete the entire process via E-Mail, fax, and direct deposit of funds to your bank.  When you return to us the signed contract, we can deposit the funds to your bank account as early as the same day that we received your signed contract.

Our bad credit loans have terms of 6 months to 60 months.

Our origination fees vary the with the amount of the loan from $30, $100, $200, and $250.

NEVER. Simple as that. Our advise to you is to stay away from any lender who requires you to put a down payment as a condition to your loan. Most likely, it is a scam.

America’s Loan Company’s personal loans are unsecured or secured installment loans paid over several months or years (6 months to 60 months). For qualified applicants APR can be below 35.9%.  However, title loans are typically with much shorter terms and a much higher APR.

In the case of a typical title loan, you borrow money based on the value of a vehicle that you already own. Title Loans also have expensive fees and very short terms that make them hart do pay back.  However, with our car loans our fees are typically lower than a title loan and we can give you terms from 6 months to 5 years. We are interested in giving a loan that fits your budget.

No. A personal loan is an unsecured or secured loan paid over many months. A payday loan is a loan usually paid in full over 2 weeks (if customer works full time) or a month (if customer gets Social Security income or Pension).

If you are still paying on your vehicle, we may still be able to refinance it. If we determine that the value of the vehicle exceeds sufficiently what you still owe on it, we may refinance the vehicle loan and add money on top that you can keep.

We can make a loan decision between one to three business weekdays.  Holidays and weekends will make the processing time longer.

Not necessarily.  In fact most of our loans are approved without the need of a cosigner.  However, sometimes a cosigner may be needed for different reasons.

An adequate cosigner is someone who works full time at their current job for at least one year, has a checking account that is at least 3 months old, is a U.S. citizen and an Ohio resident, and has a credit history that is meets our requirements.  A cosigner has to be someone who we can trust to pay the debt in the even that the main signer does not pay the debt.

Yes.  A cosigner is equally responsible for a loan to be paid in full in case of default, including the main signer filing a bankruptcy.  Our loan will affect the credit score of the cosigner.