How It Works

With That’s My Loan, requesting a loan is incredibly straightforward. Simply complete our short online form, and your inquiry will be submitted to our large network of lenders. Loan amounts range from $100 to $1000, with repayments made over up to 12 months.

The lenders in our network always aim to provide you with a loan decision as soon as possible – sometimes within minutes of submitting your loan request! If you’ve provided all the information, you will then be redirected to the lender’s website, at which point you can review the loan terms, such as the installment amounts and any applicable rates and fees. Once you’ve agreed to these terms, your lender will deposit money directly into your bank account. This could be as quickly as the next business day, providing no clearing hold is applied.

Eligibility

When it comes to loan eligibility, most lenders ask that you meet the following requirements:

• Be employed at your present job for at least 90 days
• Be a US citizen or a permanent resident
• Be aged over the age of 18
• Have an income of $1,000 per month or more, after tax deductions
• Have a checking account in your name
• Provide a working phone number for your home and work, as well as a valid email address

Even if you have a bad credit history, you may still be eligible for a short term loan. Many lenders look at factors in addition to your credit rating, such as your income and expenditure, when making a loan decision. So if you’re able to comfortably afford the loan repayments, such lenders may still consider your loan request.

Benefits of Using That’s My Loan

There are a huge range of advantages to using a broker service, such as that offered by That’s My Loan. We’ve explored some of the main benefits below:

1. Quick Inquiry Process
   Through our secure technology, we’ll do our best to find a lender in our network that can help, based on your individual circumstances. As soon as we find a suitable lender, we’ll put you in touch with them, and they will contact you for any additional information they might need. This could include things like verification of employment, or your most recent pay stubs. The entire loan request process is incredibly quick and simple, and can be completed 100% online.
2. Cash Sent Directly to You
   After your lender has taken and approved your request, cash will be deposited directly into your bank account. That means you don’t have to take a trip to the bank in order to deposit a check, which could in turn lead to inconvenient check-cashing fees. Essentially, the loan providers in our network are direct lenders, so will deposit the cash directly into your account, with no unnecessary fuss.
3. Private and Secure
   Here at That’s My Loan, we use industry-recognized security and advanced encryption technology to protect your personal information. You can therefore rest assured that your details will be kept secure, and won’t be passed on to any third party without your prior knowledge or consent.
4. Automated Repayment
   If you authorize your lender to take payment via automatic withdrawals, which are often referred to as ‘ACH transfers’, then your loan payments will be paid automatically. These payments will come directly from your bank account, and sent to the lender on the agreed date. This means each payment will be on time and you won’t have to worry about missing any payments or incurring any late fees.
5. Flexible Lenders
   That’s My Loan work with a number of lenders who offer flexible loan and repayment options. For example, when it comes to loan extensions, some lenders may provide this option, should you need to move your repayment date. However, state law may limit or prohibit a lender’s ability to extend or “roll over” your loan. It’s therefore a good idea to look into this option via the lender’s website before submitting a loan request. You can then consult with your lender if you need a loan extension later down the line.