Answering Your Loan Questions

Frequently Asked Questions

Frequently Asked Loan Questions

Personal Loan FAQs

About America's Loan:

How long has America's Loan Company been in business?

Since 2004. 

Is America's Loan Company able to help customers who don't live in Ohio?

No. Unfortunately, we are only able to help customers who live in the state of Ohio.

Is America's Loan Company a direct lender or just a company that refers applicants to available lenders?

America's Loan Company is a direct lender. We take care of our customers from the moment of application and until the loan is paid off. (Online payment option)

Is America's Loan Company licensed?

America's Loan Company is licensed through the Ohio Division of Financial Institutions. We are only able to help customers who live in the state of Ohio. 

Can I trust America's Loan Company?

Not only is America's Loan Company licensed through the Ohio Division of Financial Institutions, but we are also accredited through the Better Business Bureau.  Follow this link to see our Better Business Bureau Page

About Credit Scores:

Will applying for a loan affect my credit score?  Does America's Loan Compnay run a Hard credit with loan applications?

As of September 2022, America's Loan Company is running Soft Credits on loan applications.  This means that it should not affect your credit score.  However, we may run a Hard Credit once a loan offer is accepted by the applicant.

I have no credit score. Can I still get a loan from America's Loan Company?

We are able to lend to customers who have no credit scores. We don't guarantee that you will be approved but we do cater to customers who may not be able to get a loan from the local bank due to having too low of a credit score.

Does America's Loan Company report to any of the 3 major credit bureaus?

Currently, we report to one of the 3 major credit bureaus, TransUnion.

How may America's Loan Company help improve my credit score?

Currently, we report to one of the 3 major credit bureaus, TransUnion.  Therefore, a good payment history, as well as bad, would be reported to TransUnion. As long as a you keep up with making payments on time and without default, this may help improve your credit score. However, many factors may affect your credit score. So, we can't guarantee that reporting your credit history will improve your credit score.

Types of Loans:

Can I change my due date payments?

Yes.  You may have any number of payment due dates changed any number of times through out the loan term.  Any payment that becomes more than 30 days past due would affect your credit score.

What interest and A.P.R. can I expect to get?

It depends on several factors like your credit score, loan amount, term of loan, among others. We may charge an interest rate ranging from 17% to 25%. The maximum state of Ohio allowed interest is 25%. However, do keep in mind that the A.P.R. will be higher than the interest since it will include other loans fees, such as origination fees.  Also A.P.R. figures are affected by the term or lenght of the loan.  The shorter the length of the loan the higher the A.P.R. will most likely be.

Must I go to an office to sign contract and receive my funds?

No.  We can complete the entire process via E-Mail, fax, and direct deposit of funds to your bank.  When you return to us the signed contract, we can deposit the funds to your bank account as early as the same day that we received your signed contract.    

How long can I have to pay a loan?

Our bad credit loans have terms of 6 months to 60 months. 

What origination fees do you charge?

Our origination fees vary the with the amount of the loan from $30, $100, $200, and $250.

Will I be required to put a down payment on a loan before I am approved for it or before funds are disbursed to me?

NEVER. Simple as that. Our advise to you is to stay away from any lender who requires you to put a down payment as a condition to your loan. Most likely, it is a scam.

What is the difference between a personal Loan and the typical title Loan?

America's Loan Company's personal loans are unsecured or secured installment loans paid over several months or years (6 months to 60 months). For qualified applicants APR can be below 35.9%.  However, title loans are typically with much shorter terms and a much higher APR.  

What is the difference between a title loan and a car loan?

In the case of a typical title loan, you borrow money based on the value of a vehicle that you already own. Title Loans also have expensive fees and very short terms that make them hart do pay back.  However, with our car loans our fees are typically lower than a title loan and we can give you terms from 6 months to 5 years. We are interested in giving a loan that fits your budget.

Is a personal loan the same as a payday loan?

No. A personal loan is an unsecured or secured loan paid over many months. A payday loan is a loan usually paid in full over 2 weeks (if customer works full time) or a month (if customer gets Social Security income or Pension). 

I'm still paying on my vehicle. Can you loan to me based on the equity that I already have on the vehicle?

If you are still paying on your vehicle, we may still be able to refinance it. If we determine that the value of the vehicle exceeds sufficiently what you still owe on it, we may refinance the vehicle loan and add money on top that you can keep.

How long does it take to be approved or declined for a loan?

We can make a loan decision between one to three business weekdays.  Holidays and weekends will make the processing time longer.  

Will I be required to have a cosigner for my loan?

Not necessarily.  In fact most of our loans are approved without the need of a cosigner.  However, sometimes a cosigner may be needed for different reasons.

Who would be an adequate cosigner?

An adequate cosigner is someone who works full time at their current job for at least one year, has a checking account that is at least 3 months old, is a U.S. citizen and an Ohio resident, and has a credit history that is meets our requirements.  A cosigner has to be someone who we can trust to pay the debt in the even that the main signer does not pay the debt.

Is a cosigner equaly responsible for my loan?

Yes.  A cosigner is equaly responsible for a loan to be paid in full in case of default, including the main signer filing a bankruptcy.  Our loan will affect the credit score of the cosigner.  

Affordable Bad Credit Loans

6 Mos. to 5 Yr. Terms

We Report Your Credit

Fast Approval


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America's Loan Company - Notice

Customer Notice: Personal loans, title loans, and car loans have terms 6 months or longer. There are no early payoff penalties. We currently report to one of the 3 major credit bureaus, TransUnion. However, many factors affect your credit score. Therefore, we can't promise that your credit score will improve while having a loan with us.

Requirements: We are able to service Ohio residents only. Approval depends upon meeting legal, regulatory and underwriting requirements. America's Loan Company may, at its discretion, verify application information by using national databases, including but not limited to Teletrack and any of the national credit bureaus. America's Loan Company may take this information into consideration in the approval process. Due to state and verification requirements, not all applicants for loans may be eligible for approval by America's Loan Company. You may be required to submit additional documents due to state law and qualification criteria.

Products & Services: Products and services offered to customers may vary based on customer eligibility and applicable state and federal law. Actual loan amounts vary. The availability of loans and extensions may vary. Auto loans and secured personal loans are subject to minimum auto value requirements.

Further Personal Loan Disclosures: For qualified customers, America’s Loan Company offers bad credit personal loans with terms of 6 months to 5 years, with APR under 35.9%. As an example, you may borrow $1,500.00 over a 24 month period, with a $10.00 credit investigation fee, $100.00 loan origination fee, and $452.32 in interest, for a total payment of $2062.32, with an APR of 32.6514%, and monthly payments of $85.93.

More information can be found on the America's Loan Company Privacy Policy.

Bad Credit Loans by America's Loan Company

Copyright ©2018 America's Loan Company 127 E. Main Street, West Jefferson, OH 43162. All Right Reserved. 
Seeking bad credit installment loans? We offer affordable online personal loans. Ohio based direct lender. Start improving your credit today!

Toll-Free: 877-380-2639 - Ohio: SM.501641.000 CI.550000.000 - Company NMLS ID: 315276


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