What is a payday loan?
It’s a small (usually under $1,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is usually 30 days or less.
Payday loans are meant for emergencies. If you find yourself using them to pay regular bills, you should consider credit counseling, debt-management aid or other type of assistance. There are nonprofit agencies that help consumers who have ongoing, excessive debt.
Use payday loans responsibly.
What is an installment loan?
This is a small (usually under $5,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. It is paid back in a set number of scheduled payments. Use installment loans responsibly.
What is a personal loan?
This is a no-collateral loan for up to $35,000, similar to a line of credit. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is typically longer than an installment or payday loan. These loans can be used to consolidate debt or pay off high interest credit cards. Use personal loans responsibly.
How does HarvestMoonLoans.net work?
HarvestMoonLoans.net is not a lender and does not make credit decisions. Harvest Moon Loans is a loan connecting service. We connect consumers who are looking for financial assistance with independent, third party lenders who may be able to provide a loan.
You begin by filling out the simple form. Your information is then shared with third party lenders who may make you a loan offer. You are under no obligation to accept the offer, but if you do, the lender will provide the instructions to do so. Every third party lender has their own terms and conditions. Please consult these before accepting the loan offer. In particular, check for information on the APR, fees, renewal terms and consequences of non-payment.
If you have any questions about your loan, please contact your lender.
Does HarvestMoonLoans.net charge a fee to connect consumers with independent, third party lenders?
Registering with HarvestMoonLoans.net is free to you, the consumer. We are paid by independent, third party lenders for potential customer referrals.
Each third party lender will have its own fees, APR and terms. These charges come directly from the lender and not from HarvestMoonLoans.net.
These fees and charges will be provided to you at the time of the loan offer, if one is made. You are under no obligation to accept them. Your loan is accepted by you when you electronically “sign” the offer and send back to the lender.
Read all documents for the terms and conditions of the loan.
How much can I borrow?
Payday loans are usually between $100 and $1,000. Installment loans range between $100 and $5,000 and Personal loans are usually between $500 and $35,000. You will make a request for a loan amount. If you receive a loan offer, it may not match the amount you requested. Loan offers may vary for several reasons including the individual lender, employment, income and other factors.
If approved for a payday loan by an independent third party lender, how quickly could I receive it?
The transfer to your bank account could happen as early as today or next business day. Times will vary depending upon your lender and your financial institution. If you have additional questions regarding the transfer time, please contact your third party lender.
What are the minimum requirements to register for a loan?
Individual, third party lenders have different minimum requirements, but the following constitute typical minimum requirements:
What information do I have to share in order to register with HarvestMoonLoans.net?
You will be asked to provide banking, employment and some personal information. This information includes, but is not limited to your name, address, telephone number, place of employment and/or source of regular income, driver’s license number, bank account information and social security number.
The third party lenders may perform a credit check or use other methods to verify the information you provide.
Is the information I provide secure?
HarvestMoonLoans.net employs a number of state of the art security measures are designed to keep your information secure. All sensitive data transmitted between your browser and HarvestMoonLoans.net uses 128 bit Secure Socket Layer (SSL) encryption technology. Your use of our services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy.
How long does a loan transaction take?
From the time you register with HarvestMoonLoans.net (and are made an offer by an independent, third party lender) the process can be as fast as one business day. A number of factors impact this, including the time of day you register, the accuracy of your registration, the lender and your financial institution.
When must I repay my loan?
HarvestMoonLoans.net is not a lender. Each independent, third party lender has their own terms and conditions, including those concerning repayment. You should contact your lender for information about the date and time for repayment as specified in your loan agreement.
Will independent, third party lenders perform a credit check and what are the credit implications?
Many will do so. They may check to verify the accuracy of the information you have provided and/or to review your information to see how it compares to the records of national databases. Lenders may verify your social security number, driver’s license number, banking information or any other information you provided.
Multiple inquiries to the “Big 3” credit bureaus (Experian, Equifax and Transunion) may result in a lowering of your credit score. Therefore you may want to register for a loan, one at a time.
Will my loan be automatically renewed?
The answer to this question depends upon the state you live in and the lender. Each lender has its own renewal policies, as well as each state having their own laws regarding automatic renewal of payday loans. Be sure to ask your lender if your loan will automatically renew or if they have to receive your permission first.
Loan renewal will likely result in the addition of fees and interest to your loan balance. Make yourself aware of these fees before agreeing to any loan renewal.
What are the implications of late payments and non-payment?
This varies by lender, so check with your lender before agreeing to the loan offer. Many consumers get in trouble by not being aware of the penalties of late or non-payments. Be fully aware of the consequences of not paying the loan in full on the date it is due.
Is approval guaranteed?
There is no guarantee that you will be approved by one of our participating lenders.
What if I am unable to repay my loan according to its terms?
Typical penalties for lack of repayment may include:
HarvestMoonLoans.net is not a lender. You should ask your lender what the implications of non-payment are.