FAQ

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Frequently Asked Questions

Applying for a loan

How do I qualify for a Spotloan?

Are Spotloans available for residents of any U.S. state or territory?

When will I know if my Spotloan is approved?

How long does the application process take?

When do I get my money?

What happens if I change my mind?

UNDERSTANDING THE COST OF A SPOTLOAN

What is the interest on a Spotloan?

What fees are associated with a Spotloan?

How do Spotloans compare to payday loans?

How do I decide if a Spotloan is right for me?

PAYING OFF YOUR LOAN

How can I make a payment?

What if I can’t make my next payment?

WORKING WITH SPOTLOAN

How do I contact Spotloan?

What happens if my loan doesn’t go to the right bank account?

What happens if I make a late payment?

How do I make an identity theft records request?

YOUR INFORMATION

How does Spotloan verify my identity?

Why does Spotloan need to verify my identity?

What is your privacy policy?

Why do you need my bank account information?

What is a qualifying bank account?

Do you check my credit?

How does the credit check work?

Do you report my loan activity to credit reporting agencies?

How can Spotloan contact me?

What if the information you have for me is not accurate?

ADDITIONAL INFORMATION ABOUT SPOTLOAN

What are the Terms of Use on my Spotloan?

What’s your policy on responsible lending?

When can I apply for my next Spotloan?

How does Spotloan comply with state, federal, and local regulations on short-term loans?

How does Spotloan comply with the Financial Privacy Act?

You are not licensed in my state. Does that mean I don’t have to repay my Spotloan?