Before You Apply
Responsible Borrowing: What You Need to Know
Taking out a short-term loan is a serious financial decision. At Speedy Loan Link, we want you to be informed before you sign.
1. These are Short-Term Solutions
Loans found through our network are designed for immediate, short-term financial needs (like car repairs, medical emergencies, or unexpected bills). They are not recommended as a long-term solution for ongoing debt.
2. Understand the Cost (APR)
The Annual Percentage Rate (APR) represents the yearly cost of your loan. Rates in our network range from 5.99% to 35.99%.
- Make sure you can afford the monthly payments before accepting an offer.
3. Implications of Late Payment
When you sign a loan agreement, you agree to a repayment schedule.
- Late Fees: Lenders may charge fees if a payment is missed.
- Credit Impact: Missing a payment can negatively impact your credit score.
- Renewal: Some states allow loan renewals or "rollovers," which can increase the total cost of the loan. Ask your lender about their specific policy.
⚠️ Speedy Loan Link is not a lender, and we do not control loan fees, penalties, or repayment rules. Always read the lender's loan agreement carefully so you know what happens if a payment is late or missed.
4. Debt Collection
Speedy Loan Link is not involved in debt collection. However, lenders in our network must abide by the Fair Debt Collection Practices Act (FDCPA).
They may contact you regarding past-due accounts, but they cannot harass you or use unfair practices.
⚠️ If you have questions about payments or collections, contact your lender directly.