Did you know that approximately 10% of Americans will use payday lending at some point? Potelco is pleased to introduce our new program to help serve our members who are in need of fast cash. We now offer an affordable alternative to the traditional payday lending that will save members a considerable amount of money. Whether you experience a financial emergency or just need a little extra cash this month, FastCash4Less can help you through a tough time.
To qualify for this program you must
- Be 18 years of age or older
- Have a gross income of at least $1,000.00 per month
- Have an active checking account for at least 90 days
- Have regular deposits into that checking account
- Have had continuous employment for the last six months.
Approved loans are deposited directly into your Potelco checking account and can be accessed through any means normally used to withdraw money.
The Interest rate for this loan is 18% APR plus a monthly participation fee of $59.00*. First time borrowers who qualify can get up to $300.00 and return borrowers can get up to $700.00. The minimum payment is $50.00 plus the finance charge and participation fee. Please see the Fee Schedule below for a sample payment amount. Payments are deducted from your checking account with the first payment due about 30 days from the funding date which gives you more time to repay this loan than many payday lenders.
Other important information is detailed in the disclosure form provided at the time the loan is approved.
Potelco has partnered with eAccess Loans to provide this program and all approvals are subject to their underwriting standards. To apply simply click on the link below.
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