Not only do payday loans charge high interest rates, they require large balloon payments within two weeks – or a “rollover” if you can’t pay the loan back, where the principal balance remains and only interest is paid. With our direct lender loans, every payment you make is applied to your principal and your interest rate, lowering the loan amount with each payment.

Short-term loans are those that feature quick repayment cycles, not intended for any long-term use. Personal loans, on the other hand, can be used for any purpose and often come with longer repayment times for those in need.

A signature loan requires no collateral, only a credit check for qualification and then a recurring fee in return for the loan funds.

What you need to bring to our facility depends on which kind of loan you’re looking for. For personal loans, bring the following:

• Proof of direct deposit
• Debit card linked to direct deposit
• Recent pay stub
• Proof of address
• 30-day bank transaction history
• 4-6 personal references
• Driver’s license/ID and Social Security Number

For installment loans, you only need pay stubs, transaction histories and personal information. For signature loans, only pay stubs and proof of address/identity are required. For car title loans, you also need the vehicle title, registration, key and other personal information.

Along with the above items required for qualification, there are some basic thresholds you may have to meet. For personal loans:

• No worse than a $100 negative balance in your bank account.
• Employment for at least the last two months.
• No greater than one new loan opened in the last 30 days.
• Net monthly income of at least $1,200.

For installment loans:

• Employment history of three or more months.
• Net monthly income of $1,200.
• Positive checking account balance over the last 30 days.
• No more than one new loan opened in the last 30 days.

For signature loans:

• Three months of employment history.
• Net monthly income of at least $1,000.

For car title loans:

• All vehicle information, such as title, insurance, registration, keys and others.
• Proof of income.

If you don’t have a checking account, you are still eligible for many of our loan products. Our car title loans and signature loans can both be given without a checking account, provided you have the other requirements listed.

There are some detailed limits on how often we can make a new loan for you, mostly relating to the number of consecutive weeks you pay interest.

At 1st Choice, we don’t require credit checks or even a checking account to approve your loan. We understand that many of our clients need cash quickly, and we can get you approved in just five minutes in many cases.