Loan Information
Mogethin & sirow! We're glad that you're here! This page is to provide you with information to the most frequently asked questions about loan amounts, repayment periods, and our criteria for small loan applications. Please find the details below:
| Loan amounts: | $75 - $500 |
| Repayment term: | 1 to 8 biweekly payments (2 weeks to 4 months) |
As we stated on our 'about us' page, we believe in fair and transparent lending, offering reasonable rates and flexible repayment options to ensure your peace of mind. Below is an example of the repayment schedule and additional loan information.
Representative example: Example is based on the maximum legal annual interest rate of 24%. WARNING: This is a repayment estimate only. Exact charges, terms and loan amounts will be made available to you prior to actual loan closing.
This example does not include late charges when you make a late payment. A late charge of $5 or 5 per cent is added on to your balance for the unpaid amount that is due after 15 days.
Please note that each customer may be offered different terms, lower rates, or loan amounts based on individual circumstances, loan performance standing, needs, seasonal promotions, and other lending criteria that will be taken into consideration.
Before you fill out the loan application, please ensure you have...
1. current employment at the same business for at least two years and have a steady source of income
2. a valid phone number
3. not been delinquent on a prior loan
4. not currently or previously (within the last six months) a debtor in a small claim case
5. a biweekly salary of at least $75
6. Yap residency for at least two consecutive years
To process your loan application as efficiently as possible, please be sure to provide...
1. A copy of your most recent check stub
2. If approved, bring in person your valid & current government issued ID
3. Proof of social security number (if it's not printed on your ID)
In addition to your completed loan application, we may require additional information such as the biweekly net income of a cosigner, outstanding credit obligations, credit references, proof of income, and any other relevant information necessary for us to make a decision regarding your loan.