FAQ

What is personal loan?

A personal loan is borrowing a sum of money from a financial institution for personal use. The borrower will make monthly payments to the financial institution repaying the sum borrowed plus interest. Personal loans give individuals the financial ability to make purchases without saving the funds first.

Personals loans, also known as unsecured loans, are different from payday loans, short term loans, or cash advances in that they offer higher loan amounts, have lower interest rates, and longer repayment periods. Approval for these loans are not based on employment but rather the credit history of the borrower. Borrowers with good credit can usually be approved for a personal loan and can be used to cover large payments that may need to be made such as college tuition or home repairs.

What can a personal loan be used for?
Whether you are paying off bills, celebrating a special occasion, or covering an unexpected cost your personal loan is there to be used at your own discretion.

How much can I receive?
Your first FirstChoice.credit loan is based upon the information you provide in your application. You may request up to $25,000, but it is ultimately up to the lender what the final loan amount is.

How are fees established?
The owner of this website does not charge fees for this service. Any fees are from the lender and will vary by lender.

How do I qualify for a personal loan?
You should meet all of the following requirements:
• Currently employed (or receive regular income)
• Make at least $1000/month
• Be 18 years of age or older and a U.S. citizen
• Have a checking or savings account with direct deposit.

What is the procedure to apply for a personal loan online?
To apply for a personal loan, complete and submit the application found on our website. At that point, the approval process will immediately get under way and you will be notified of your status.

Is my personal and financial information secure?
We respect our customer's right to privacy in managing their personal finances. Our site uses a variety of security measures to maintain the safety of your personal information. All sensitive data transmitted between your browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology.

Is there an application fee?
www.FirstChoice.credit never charges applicants a fee to qualify for a personal loan.

Does submitting an application obligate me to take out a loan?
No. Submitting an application simply states that you wish for one of our agents to approve and contact you to discuss your personal loan options. You may ask us any questions, and withdraw your request if you so choose. If you are ready to proceed, you may confirm your information and officially agree to terms with one of our representatives.

What if I have bad credit?
Credit problems does not necessarily prevent you from receiving a personal loan at www.FirstChoice.credit. Many people with less than perfect credit have been approved for a personal loan.

Does being a tenant influence my eligibility?
Whether you rent or own your home, it does not affect your eligibility for a loan.

Do I need to fax my information?
Only in the rarest of cases will you be asked to fax any details.

When will I receive my personal loan?
Your application is processed within minutes of receipt. Once approved, your loan will be electronically transferred that business day or the next one.

When will my loan be due?
You can find the due date in your lending agreement.

What if I am unable to repay my loan by the due date?
You should make every attempt to repay the loan on its due date. There could be legal action if you do not.