FAQs


At First Loan, we want to make it as easy and hassle-free as possible for you to get the cash you need by tomorrow. If you cannot find the answer you are looking for in the FAQs below, contact us at 1-888-340-2911 or via email at Support@FirstLoan.com and we’ll be happy to assist you.

Online Installment Loans FAQs

What is an Installment Loan?

An Installment Loan is a loan that is repaid according to a fixed payment schedule. This means you pay a certain amount weekly, biweekly, or semi-monthly, depending on your loan. Each loan repayment you make includes a payment towards applicable principal, interest, and fees. After a certain number of payments, principal (the original amount you borrowed) is reduced little by little. First Loan’s installment loans give you the flexibility to pay over time instead of paying back everything that’s that is owed at once. In addition, some or all of the loan principal can be paid back at any time without ANY prepayment penalty.

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What are the qualifications to be eligible for a loan online?

To Get Approved You will need:

  • A job or other regular source of income
  • A valid bank account in good standing (prior derogatory actions on your account may not disqualify you)
  • A valid email address and phone number
  • You must be least 21 years old
  • You must reside in a state in which we offer loans

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How much can I borrow?

If this is your first time getting a loan through First Loan, you may qualify to receive up to $1,500. Returning customers that remain in good standing and after certain number of successful payments may qualify for up to $5,000. See Rates for additional information.

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What happens if I have bad credit?

First Loan understands that you may have had credit troubles in the past. Our loans are meant to service a wide-range of borrowers regardless of past problems with credit. Our goal is to help borrowers get the money they need, especially when others lenders won’t considered. We are here for you.

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How long will the process take?

The application process is fast and easy and is generally completed during one phone call after you submit a completed application. There is never a need to fax any documents or meet with a lending agent in person. The fast cash application is completed entirely online. After that, one of our customer service representatives will help you complete the loan process on the phone prior to funding the loan which will include verification of your information.

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Why do you need my bank account information?

We need your bank account information to be able to give you your loan. Once your application is finalized and you are approved. we send your money to you directly. It will usually be deposited into your bank account in as little as 24 hours from the time of your approval.

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How will I know when my application is pre-qualified?

One of our loan managers will contact you and/or you will receive an email notification to complete the application process. If you are denied with us, you will receive a notification.

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How quickly will I get my money?

If your application is verified and approved, we can electronically deposit your loan proceeds into your account in as little as one day. The time may vary depending on your bank’s transfer policies.

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How much does my loan cost?

Please see our Rates page.

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What is the range of APRs available on First Loans? 

The current APR range for First Loans is 615%-859%. Check our rates here

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How do I make payments on my loan?

Payments are typically automatically deducted electronically from the same bank account where your loan was deposited. No hassle, no stamps… we try to make repaying your loans as convenient as possible. If you prefer not to use an electronic method,  you may pay by cashier’s check or money order by mailing payment to First Loan, PO Box 1536, Lower Lake, CA 95457. Checks and money orders must be received by us no later than the scheduled due date. Please contact us at 1-888-340-2911 to speak with a customer service representative with questions about loan repayment.

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What if I can’t make my payment on the due date?

It is your responsibility to make your best effort to provide loan repayments by the expected due dates. However, the good news is we make it easy for you to avoid penalties if you see you are going to have a problem making a payment. If you are unable to make your scheduled payment, please Contact Us at least three (3) business days prior to the date your payment is due. Our customer service representatives are here to help you get back on track, so please call.

Please note, you can schedule automatic electronic payments from your checking account. If you do make a late payment, skip a payment, or a payment is returned to us, you may incur additional fees.

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Is this site secure? How will you protect my personal information?

Keeping your financial and personal information secure and confidential is a top priority at First Loan. We transact all our loans on our secure SSL server. Please review our Privacy Policy page for complete details

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