Do I need a good credit score to borrow?

Loanspa offers flexible personal installment loans tailored to your needs. Whether you’re managing unexpected expenses or planning a big purchase, we’re here to help with manageable repayment options.

Rates and Credit Scores FAQ | Loanspa – Understand Borrowing Better

For your application to be approved, you must meet minimum credit criteria established by LoanSpa, be able to enter a legally binding contract, and meet the requirements listed on LoanSpa.com. Applicants are required to verify application information through our secure online process or by speaking with an agent. Credit histories may be verified through national database services. Visit LoanSpa.com for applicable rates and frequently asked questions. A complete disclosure of APR, fees, and payment terms is provided within the Loan Agreement.NOTICE:

This is an expensive form of borrowing. LoanSpa loans are designed to meet your short-term borrowing needs and are not intended to be a long-term financial solution. LoanSpa does not charge any penalties for paying your loan off early, and we encourage you to do so as soon as your finances allow.

MILITARY LENDING ACT (MLA) COMPLIANCE: The Military Lending Act (MLA) offers specific protections to active-duty service members and their dependents. Because our loans have interest rates that are higher than the MLA allows, we do not offer them to people covered by this Act. To determine if the MLA applies to you, we use a national consumer reporting agency. If you would like to verify whether you are covered by the MLA, you can submit a single-record request on the official MLA website.

NOTICE OF FURNISHING NEGATIVE INFORMATION. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

Priority Funding Disclaimer: Priority Funding may be limited by funding time frames and cut-off times. Applications processed and approved before 6 p.m. CST Monday–Friday are typically funded on the next business day. If you require funds on the current business day, you can request a Special Services Transfer up to 3 p.m. CST Monday–Friday by calling (888) 273-0204. For loans processed on weekends or bank holidays, you will receive the Special Services Transfer on the next business day. Please verify with your bank, as additional incoming fees may be assessed.

Identify Verification Requirements: To help the government combat terrorism financing and money laundering, we must verify the identity of every individual who opens an account. What this means for you: When you open an account, we will request your name, address, date of birth, and other identifying information. We may also require a government-issued ID, such as a driver’s license, or other documentation to confirm your identity.

CENTRAL LENDING, LLC DBA LOANSPA is licensed by the State of Wisconsin Department of Financial Institutions, ID 3364-LC.

CENTRAL LENDING, LLC DBA LOANSPA is authorized by the State of Utah Department of Financial Institutions, NMLS ID 2651554.

CENTRAL LENDING, LLC DBA LOANSPA is authorized by the State of Missouri Division of Finance, ID 510-25-9753.

CENTRAL LENDING, LLC DBA LOANSPA is authorized by the State of Idaho Department of Finance, Lic/Reg #: RRL-11351

You can verify our licensing through NMLS Consumer Access at https://www.nmlsconsumeraccess.org/.

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