Do I need any type of license for my location to participate in the Payday Loan Take-One Agent Application" program?
Each state is different when it comes to licensing requirements for locations and each agent needs to review this area carefully. By submitting applications to the lender, each agent represents that it complies in all respects with all applicable laws with respect to the conduct of its business, including, but not limited to, the federal Credit Repair Organization Act and state Credit Services Business Acts. Note that you will not be funding payday advances nor participating in collections. You will simply direct consumers who visit your location to a computer where the underwriting criteria is posted. If they meet the requirements of the lender, they may submit an application.

What is the maximum amount my payday advance applicant can receive when a first time payday advance transaction occurs?
First time customers are limited to $300.00.

What are the qualifications my payday advance applicants must meet to be approved?

• You must have a steady source of income of a minimum of $1250 per month or $1000 per month in Social Security or other benefits.
• You must have worked with your current employer at least 3 months and have direct deposit of your paycheck…or at least 6 months of continuous employment with the same if you do not have direct deposit or be able to prove other or additional recurring income over the same period..
• You must be at least 18 years of age.
• You must have an active checking account with your name printed on the check.
• You must be able to be contacted in the evening up to 9:00 p.m.
• You must have access to a fax machine.
• You must not be delinquent on any other loan with the "lender".

What does my payday advance applicant do after faxing the application (and attachments)?

• Be available at the phone number provided for verification by a representative of the "Lender". When performed in a timely manner, your applicant could receive the funds in their account the next business day. Note: First time customers are limited to $300.00.

What will the "Lender" do?

• The "Lender" will review the application and documents.
• A Customer Service Representative will call your applicant within 15 minutes to discuss the application, advise the applicant how much they can borrow, and discuss their payment options.

  When will your applicant get the money?

  • If your applicant faxes the forms to the "Lender" promptly, they could receive the funds in their checking account the next business day.
  • First time customers are limited to a maximum of $300.00.

  How will your applicant receive the funds?
  Once approved, the money is electronically deposited into the checking account of your applicant the next business day.

  How long is the payday advance for?
  The length of time the loan is outstanding is based upon your applicants' next pay period. Generally, the length of a loan is less than 18 days. If your applicant is paid twice a month thepayday advance will be due on their very next pay period. If the date of originating the loan is less than 4 days away, we will use their pay period up to 18 days.

  When the payday advance is due, what are the options of your applicant?
  All payments are automatically withdrawn from the checking account of your applicant. The amount repaid varies with the convenient payment option they select. The Customer Service Representative for the "Lender" will discuss in detail the payment options available to your applicant.
  Briefly, these payment options are:
  • If they do nothing, the "Lender" will debit their checking account on your due date for the full amount due.
  • If you request no later than 3 days in advance of the due date, we will charge your checking account for the amount of the loan fees and extend the due date on your loan principal. You may refinance the balance up to 4 times but must sign new loan documents each time in order to do so. If you request us to permit you to refinance the balance but do not promptly execute and return a new loan note to evidence the refinancing, we will debit your checking account on your due date for the full amount due.
  • If you request no later than 3 days in advance of the due date, we will charge your checking account for the amount of the loan fees due and any portion of the loan principal you designate. We will then extend the remaining balance. But, just as above, you will be required to sign and return a new loan note for the refinanced balance, failing which, we will debit your checking account for the full amount due.
  If I have questions, whom do I call?
  
  The Lender is always eager to answer your questions and provide solutions to your money problems. You can call the Lender toll-free Monday through Friday during the hours of 7:00 am - 5:00 pm Rocky Mountain Time and speak directly with their friendly Customer Service Representatives. They are closed for nationally recognized holidays. For all other times and days, please call the Lender on their toll-free number and leave a short detailed message on their 24/7/365 automated answering service and they will return your call as soon as possible.
  
  If I change my mind and decide not to take the loan, what should I do?
  
  You have a right to cancel the loan. You may cancel the loan without cost or further obligation to the lender, if you do so by the end of business on the business day after you telefax or deliver the signed note and disclosure to the Lender. To cancel you must:
  • Return the loan proceeds by calling the Lender to alert them of your intention to cancel
  • Complete the information in the box on the Application Supplement, sign and telefax it to the Lender (toll free).