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Frequently Asked Questions

At FederalCreditLoans.com, we strive to ensure that our users are fully informed about our services and about the financial products they can request through our website. Below we have provided answers to some of the most common questions we receive from users. If you have further questions that are not answered below, please do not hesitate to contact us at support@federalcreditloans.com. We are always happy to assist our customers, and will respond to your questions as quickly as possible.

  1. Is FederalCreditLoans.com a lender?
  2. Does FederalCreditLoans.com conduct credit checks?
  3. How long does it take to request a loan?
  4. How much money can I receive?
  5. How soon can I receive my funds?
  6. What are the rates and terms for my loan?
  7. What should I do if I miss a payment or can’t repay my loan?
  8. What is the cost of a short term consumer loan?
  9. If I already have an outstanding cash loan is it possible to get a new one?
  10. When and how do I repay my loan?
  11. What happens if I'm late with a payment?
  12. How is my private information protected?
  13. When can I get another loan?
  14. Is an extension possible on repaying my loan, and how many extensions can I get?
  15. What happens if I'm not able to repay my loan?


  1. Is FederalCreditLoans.com a lender?

    FederalCreditLoans.com is not a direct lender, nor is it an agent, affiliate, broker, or representative of any lender. FederalCreditLoans.com simply provides a free service that website visitors may use to request a loan from lenders in the FederalCreditLoans.com network. FederalCreditLoans.com has no control over whether or not you are approved for a loan, nor can it provide any information about the specific terms of your loan.

  2. Does FederalCreditLoans.com conduct credit checks?

    FederalCreditLoans.com does not conduct a traditional credit check through the three major credit bureaus, but may conduct a “soft pull” through another provider. This type of “soft pull” does not affect your credit score. Lenders in the FederalCreditLoans.com network may conduct traditional credit checks with the three major credit reporting bureaus. This type of credit check may have an impact on your credit score. If you are not comfortable with having your credit checked, do not submit your information through FederalCreditLoans.com’s request form.

  3. How long does it take to request a loan?

    The loan request process should take you only a few minutes, assuming you have the necessary information on hand. Once you submit your information, it is transmitted to our network of lenders, who determine whether or not they can offer you a loan. Usually, you will receive a decision within just a few minutes of submitting your request. However, FederalCreditLoans.com makes no guarantee as to the exact amount of time your request may take.

  4. How much money can I receive?

    FederalCreditLoans.com is not a lender and does not make credit decisions. The amount of money that you may receive is determined by the lender you are connected with. You may use the FederalCreditLoans.com website to request up to $35,000, but FederalCreditLoans.com makes no guarantee as to how much you will be approved for, or that you will be approved at all. If you are not approved for the amount you would like, you are welcome to submit another request using the FederalCreditLoans.com request form at any time.

  5. How soon can I receive my funds?

    Cash transfer times vary, but many of the lenders in our network can direct deposit your funds into your checking account in as little as one business day.

  6. What are the rates and terms for my loan?

    FederalCreditLoans.com is not a direct lender and thus cannot provide you with information about the terms and costs of your loan. Please contact your lender directly with questions regarding your loan terms.

  7. What should I do if I miss a payment or can’t repay my loan?

    FederalCreditLoans.com is not a direct lender and thus cannot provide you with the repayment terms and nonpayment penalties associated with your loan. Please contact your lender directly with questions about repayment and/or missed payments. Additionally, if you anticipate being unable to make a future payment, FederalCreditLoans.com recommends that you contact your lender as soon as possible.

  8. What is the cost of a short term consumer loan?

    There is no cost to use our marketplace service. The actual cost of your loan may vary by lender. You will be provided information on the rates and fees before you accept the loan. Personal loans are not designed as long term financial solutions but are often less costly than late charges, NSF fees or reconnect fees for overdue utilities. Please only accept a loan if you believe you have the ability to repay it.

  9. If I already have an outstanding cash loan is it possible to get a new one?

    You may be allowed to secure more than one personal loan at any given time, but this will depend on your state's laws as well as your lender's practices. If you have an outstanding personal loan or other personal loan, you should let your new lender know about it before you accept a new loan.

  10. When and how do I repay my loan?

    If you have selected the convenient and secure ACH payment option, your loan payment will be withdrawn from your bank account on its due date. This option is designed for convenience and helps you avoid potential late fees or default! If you need an extension on your loan, please contact your lender before you miss a payment (additional fees may be involved).

  11. What happens if I'm late with a payment?

    Each lender has its own late payment policy and fees. Check your loan documents for details or contact your lender directly. Some states may regulate or limit late fees.

  12. How is my private information protected?

    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. Please review our privacy policy for additional details.

  13. When can I get another loan?

    You can use our service to get a new loan at any time (subject, of course, to state law restrictions). If you have recently taken out another personal loan that is still outstanding, please inform your new lender before accepting a new loan.

  14. Is an extension possible on repaying my loan, and how many extensions can I get?

    The rules on extensions or “rollovers” varies among lenders and also may be regulated by state law. Some states allow for multiple rollovers while others do not allow it at all. If you need an extension on your loan, make sure to contact your lender before you miss any payments. Most lenders will work with you to help you avoid missing payments or defaulting on your loan.

  15. What happens if I'm not able to repay my loan?

    If you can't make your loan payments on time, you may be in default of your loan obligations. If that happens, your lender may try and secure repayment from you using debt collection methods that are professional, fair and in compliance with the law. Lenders should follow the Fair Debt Collection Practices Act guidelines when attempting to collect loans in default. Late payments and loan defaults may adversely affect your credit and may make it difficult to obtain future personal loans.

    If you can't make your payments on time, don't ignore it! Talk to your lender ahead of time and see what they can do to help you make the best of the situation.