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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?


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?


How can I make a payment?

What if I can’t make my next payment?


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?


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?


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?

How can I protect myself from scammers?

We know it can often be difficult to tell the difference between legitimate business requests and online theft or scammers. Here are some tips to help keep you safe.

  • If someone’s asking you for money or collecting on a debt, ask questions! Don’t hesitate to ask the collector for details such as their name and their company’s name, address, phone number, and website address. If they’re not willing or able to answer all your questions, and if the information they give you does not match the company’s information listed on their website, that is likely a red flag.
  • Some fraudsters use scare tactics and threats of arrest, jail time, or getting sued unless they pay by credit or debit card over the phone. While it may be scary, you can’t be arrested for not paying your bills. Hang up and call the company you are used to dealing with using the number you’ve used in the past or find it on their website. 
  • Are you being asked to make payments in an unusual way, like through a prepaid gift card? Stick to trusted payment methods, like for instance, Spotloan’s secure online payment portal.
  • Take note of how they are communicating with you and pay attention to the details. If they’re saying they’re from a company you’ve worked with before, go check the phone number and email address from which you’ve previously received that business’s communications. Is it a different phone number? Are they using a new email address or one that’s slightly similar to the email addresses you’ve seen before? If so, it could be a scam. 

If you ever receive a suspicious email, text, or call from someone saying they’re with Spotloan, avoid clicking on any unknown links or webpages, avoid giving them any additional personal information until you’ve confirmed it is safe, and report the email as phishing or spam through your email provider. If you receive anything that seems suspicious regarding your Spotloan, please contact us directly to validate the information and send a screenshot to [email protected]