Frequently Asked Questions

What is an installment loan?

An installment loan is a loan that is repaid over time with a set number of scheduled payments. Installment loans should be used for short-term financial needs and not as a long-term solution.

How do I qualify?

Qualification depends upon meeting legal, regulatory, and underwriting requirements. Underwriting criteria includes numerous factors, including your monthly income, an active checking account in good standing, ability to verify your information, and availability of our product in your state.

How do I apply?

Complete and submit the application. Click Here!

Will I need to send in any documents?

We may need to verify additional information before your application is approved. This may require documentation to validate your income and identity.

How will I know if my application has been approved?

You will receive an email notification once your application has been approved. You can always call us at 866-484-8698 to find out the status of your application.

How quick will I receive the loan?

Once approved, funds will be directly deposited to your bank account. Depending on your bank you will typically receive your funds by the next business day.

When will I make payments?

Payments will typically be due according to the payment schedule specified on your loan application. Your loan agreement will show your payment schedule.

Can I pay early?

Yes, you are able to pre-pay your installment loan. Paying early may result in interest savings on your loan.

What if I cannot pay on time?

We understand that financial difficulties occur and we are here to help. If you’re unable to make a payment, please contact us at least 2 business days before your payment due date to make alternative arrangements.

How do I cancel my loan?

If you change your mind you may cancel your loan through the next business day after receiving the funds. Your loan will be cancelled once your loan principal is returned. Contact us for a loan cancellation form.

Will this affect my credit?

We use information from alternative credit sources. We do not make inquiries, and we do not report credit performance, that would affect your FICO® score.

Any additional questions?

Please call us at 866-484-8698 or email us at support@highpeakloans.com and we will be happy to assist!

Rates and Terms

The chart below represents illustrative examples of the cost of a $500 loan. Rates and terms vary based on loan amount. Please see your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan.

If you repaid once a month, you would make six (6) payments of $ 218.22:

APR
448.37% 		Finance Charge
$809.32 		Amount Financed
$500 		Total of Payments
$1309.32

If you repaid biweekly, you would make 13 payments of $98.53.

APR
447.75% 		Finance Charge
$781.11 		Amount Financed
$500 		Total of Payments
$1281.11

To accurately provide you with your rates and terms, please view your state below. If your state is not listed, we do not currently offer a product in your state.

Missouri
Utah

**Credit checks, consumer credit reports and other personal data may be obtained by some lenders from Experian, Equifax, Trans Union or through alternative providers.