Frequently Asked Questions
LoanSource helps hundreds of people get the cash they need every day. We make the lending process easy and strive to put cash in your pocket as quickly as possible. Most LoanSource customers are able to complete the entire loan process in as little as 30 minutes. Learn more about LoanSource by reading our frequently asked questions below.
Why is LoanSource a great choice for getting a loan?
LoanSource takes the guess work out of the entire loan process! We work with you to determine your needs and identify which loan will suit your needs the best. Then, we refer you to a lender for that loan from a large network of highly rated lenders. Also, with LoanSource you get the cash you need the exact same day, while other lenders can take days to deliver your loan proceeds. We can complete your entire loan process online or at a store location, whichever you prefer.
What types of loans does LoanSource offer?
LoanSource strives to help anyone and everyone get the cash they need. That’s why we offer a number of different loan products so, together; we can find the one that suits you best. LoanSource’s suite of loan options includes: signature loans, personal loans, title loans, title pawns, and bad credit loans.
What is the process for getting a loan with LoanSource?
The loan process with LoanSource is fast and simple. It works like this:
- Tell us about you & how much cash you need
- We refer you to a lender
- Get approved instantly
- Get your cash
What is the best type of loan for me?
That depends on a number of different factors, including: the amount of cash you need, the type of payment plan you’d prefer, where you live, and what you’re planning on using your loan proceeds for. LoanSource has an extremely knowledgeable team of representatives that have been trained to help you determine which loan works best for you based on your individual set of needs and circumstances. We take the guess work out of figuring out which loan and lender are best for you, making the whole process quick and easy!
What is a signature loan?
A signature loan is an extremely convenient way to get up to $500 quickly and conveniently. The only requirements are that you have a government-issued ID such as a driver’s license or passport, a checking account, and either a bank statement or paystub.
What is a personal loan?
If you need extra cash quickly but need the flexibility of paying it back over time, then a personal loan is a good way to go. LoansSource can get you cash today through a personal loan while offering a payment plan tailored specifically for you.
What are the requirements for getting approved for a loan?
The requirements for each loan differ slightly based on which type of loan you’re getting; however, you don’t need much to be approved with LoanSource for any of the loans we offer. If you’re getting a signature loan, all you need is a government-issued ID, proof of income, and a checking account. With our personal loan, you’ll also need some type of collateral (usually a vehicle). For an auto equity loan, you’ll need to have a vehicle where you’ve made about four consecutive monthly payments and you must be current on that loan. And for our car title loan and title pawn products, you’ll need a clear car title. At LoanSource, we make the loan process as easy as possible so you can get your cash quickly.
Is there a pre-payment penalty?
Absolutely not! At LoanSource, we will never penalize you for making early payments. We actually encourage our customers to pay off their loans in a timeframe that is manageable for them. The quicker you pay it off, the less interest you pay.
How quickly can I get money with a loan from LoanSource?
LoanSource can approve you instantly for a loan and get you the money you need in as little as 30 minutes.
How often will I need to make payments?
Payments are usually scheduled to be made on a monthly basis. LoanSource will work with you to setup a payment plan that suits your individual situation, budget and circumstances.
How much money will a LoanSource loan get me?
Depending on the type of loan you select, you can get anywhere from $250 – $10,000. Loan ranges for our various products can be found below:
- Signature loans: $250 – $500
- Personal loans: $500 – $3,000
- Title loans: $500 – $10,000
- Title pawns: $500 – $10,000
No matter which type of loan you choose, LoanSource can get you your money the same day.
How do I make payments on my LoanSource loan?
LoanSource offers plenty of convenient ways to make payments on your loan: cash, debit, ACH, and Western Union. You get to pick the type of payment method that’s most convenient for your lifestyle.
Do I need to have a car title to get a loan with LoanSource?
The only time you need a car title is if you’re getting a car title loan, car title pawn, or bad credit loan from LoanSource. We offer a number of different loans that do not require a car title or any type of collateral for that matter.
Do I need to be employed in order to be approved for a LoanSource loan?
No, employment is not a requirement to be approved for a loan with LoanSource; however, you must be able to provide some sort of proof of income. Acceptable forms of income include: investment income, disability income, retirement income, unemployment income, and various other forms of income.
Do I need a good credit history to be approved for a loan?
One of the main benefits of getting a loan with LoanSource is that a good credit history is not a requirement. In fact, it does not matter if you have good credit or bad credit. With our credit accepted policy, we are always able to get you the cash you need.