Everything you need to know about Xact Loan
Complete our simple online application and get approved in minutes. No paperwork, no hassle - just fast cash when you need it.
Xact Loan is an online loan connection service that helps connect borrowers with third-party lenders. We are not a direct lender but work with a network of trusted lending partners to help you find loan options that may fit your needs. Our service is completely free to use, and there's no obligation to accept any loan offer.
Through Xact Loan, you may be able to borrow between $500 and $5,000, depending on your qualifications and the lender's criteria. The exact loan amount will be determined by the lender based on factors including your income, credit history, and state regulations.
To apply through Xact Loan, you typically need to: (1) Be at least 18 years old, (2) Be a U.S. citizen or permanent resident, (3) Have a regular source of income, (4) Have an active checking account in your name, (5) Have a valid email address and phone number. Additional requirements may vary by lender.
If approved, many lenders can deposit funds as soon as the same business day or next business day. The exact timing depends on when you complete your application, your bank's processing times, and the individual lender's policies. Some lenders may take 2-3 business days to process funding.
Submitting your information through Xact Loan typically results in a soft credit inquiry, which does not impact your credit score. However, if you accept a loan offer and the lender performs a hard credit check, this may affect your credit score. Each lender has different policies regarding credit checks.
Yes! Many lenders in our network consider applicants with less-than-perfect credit. While credit history is considered, lenders also evaluate other factors such as your income, employment history, and ability to repay. Having bad credit doesn't automatically disqualify you from getting a loan.
Absolutely. We use industry-standard 256-bit SSL encryption to protect your personal and financial information. Your data is transmitted securely and is only shared with lenders in our network for the purpose of processing your loan request. We never sell your information to third parties for marketing purposes.
Repayment terms typically range from 3 to 12 months, depending on the loan amount and lender. You'll make regular monthly payments that include both principal and interest. The exact terms, including the APR and payment schedule, will be clearly disclosed by the lender before you accept any loan offer.
There is no fee to use Xact Loan's connection service. However, lenders may charge various fees including origination fees, late payment fees, and prepayment penalties. All fees will be clearly disclosed in your loan agreement before you accept. Always review the terms carefully to understand the total cost of your loan.
This depends on the individual lender. Some lenders allow early repayment without penalty, which can save you money on interest. Others may charge a prepayment penalty. Check your loan agreement or contact your lender directly to understand their early payment policy.
Late payments can result in additional fees and may negatively impact your credit score. If you're having trouble making a payment, contact your lender immediately. Many lenders are willing to work with borrowers to establish alternative payment arrangements. It's always better to communicate proactively than to miss a payment.
Most lenders offer automatic ACH withdrawals from your checking account, which is typically the easiest payment method. Some lenders may also accept payments by debit card, check, or money order. Your lender will provide specific instructions for making payments when your loan is finalized.
Xact Loan works with lenders across most U.S. states. However, loan availability varies by state due to different lending regulations. When you submit your application, we'll only connect you with lenders licensed to operate in your state. Some states have restrictions on loan amounts, terms, or APRs.
No, approval is not guaranteed. Each lender has its own qualification criteria and approval process. While we work with lenders who consider a wide range of credit profiles, factors like income, credit history, debt-to-income ratio, and state regulations all play a role in the approval decision.
Having multiple active loans can make debt management difficult and is generally not recommended. Many states also have regulations limiting the number of loans you can have at one time. Before taking out multiple loans, carefully consider whether you can afford the combined payments and if there are better financial alternatives.
APR stands for Annual Percentage Rate, which represents the yearly cost of your loan including interest and fees. It's expressed as a percentage and helps you understand the true cost of borrowing. Short-term loans typically have higher APRs than traditional bank loans. Always compare APRs when considering different loan offers.
Most applicants complete our online application in 5-10 minutes. You'll need to provide basic personal information, employment details, and banking information. After submission, you may receive responses from lenders within minutes to a few hours, depending on the time of day and lender processing times.
No, the loans offered through our network are unsecured personal loans, which means you don't need to provide collateral such as a car or home. Your approval is based on factors like your income, credit history, and ability to repay, rather than assets you own.
Yes, you can withdraw your application at any time before accepting a loan offer. There's no obligation to accept any offer presented to you. Even after accepting, many states have a "cooling off" period (typically 3 business days) during which you can cancel the loan. Check your loan agreement for specific cancellation terms.
Short-term loans are designed for emergency expenses and temporary financial needs such as unexpected medical bills, car repairs, utility bills, or other urgent expenses. They are not intended as a long-term financial solution. Before borrowing, consider if there are alternative options such as payment plans, credit cards, or assistance from family and friends.
Last Updated: January 2025
By accessing and using the Xact Loan website ("Service"), you accept and agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you should not use this Service. We reserve the right to modify these Terms at any time, and such modifications shall be effective immediately upon posting. Your continued use of the Service following any changes indicates your acceptance of the new Terms.
Xact Loan operates as a loan connection service. We are NOT a lender and do NOT make credit decisions. Instead, we connect consumers with third-party lenders and financial service providers in our network who may offer loan products. When you submit an application through our Service, your information is shared with potential lenders who will independently evaluate your application and determine whether to offer you a loan.
The availability of loan offers, loan amounts, interest rates, fees, and terms are determined solely by the individual lenders and are subject to their approval. We do not guarantee that you will be matched with a lender, receive a loan offer, or that any particular loan terms will be available to you.
Loan Amounts: Loans available through our network typically range from $500 to $5,000. The actual amount you may qualify for depends on your state of residence, income, credit history, and lender criteria.
Repayment Terms: Loan repayment periods generally range from 3 to 12 months. Specific terms will be provided by your lender before you accept any loan offer.
Annual Percentage Rates (APRs): APRs for loans obtained through our Service vary widely depending on the lender, your creditworthiness, loan amount, loan term, and state regulations. APRs can range from 5.99% to 35.99% or higher. Short-term loans typically carry higher APRs than traditional bank loans.
Fees: While our connection service is free, lenders may charge various fees including origination fees, late payment fees, insufficient funds fees, and prepayment penalties. All applicable fees will be disclosed by the lender in your loan agreement.
Example: If you borrow $2,000 with an APR of 24% over 12 months, your monthly payment would be approximately $188, and you would repay a total of approximately $2,256 (including $256 in interest).
To use our Service and apply for a loan, you must meet the following minimum requirements:
Meeting these requirements does not guarantee loan approval. Each lender has additional criteria that must be met for loan approval.
When you submit an application through our Service, we may perform a "soft" credit inquiry that does not impact your credit score. This allows us to match you with appropriate lenders. Individual lenders may perform "hard" credit inquiries when you apply directly with them, which may impact your credit score.
By submitting an application, you authorize us and our lending partners to obtain your credit report and other consumer reports from credit bureaus and to verify the information you provide. You also consent to receive communications from us and lenders via phone, email, and text message regarding your loan request.
We take your privacy seriously. The personal and financial information you provide is encrypted and securely transmitted. By using our Service, you consent to our collection, use, and sharing of your information as described in our Privacy Policy.
Your information may be shared with:
We do not sell your personal information to third parties for their marketing purposes. However, lenders who receive your information may use it in accordance with their own privacy policies.
Important: Short-term loans are expensive forms of credit intended only for short-term financial needs. They should not be used as long-term financial solutions. Before accepting a loan, carefully consider:
Taking out loans you cannot afford to repay can lead to a cycle of debt. If you are experiencing financial hardship, consider seeking assistance from a non-profit credit counseling agency.
Our Service and the lenders in our network operate in accordance with applicable federal and state laws. Loan availability, amounts, terms, and APRs vary by state due to different state regulations. Some states prohibit or restrict certain types of lending. By using our Service, you represent that you are a resident of a state where such loans are legal and available.
Residents of certain states may not be eligible for loans through our Service due to state lending laws. We reserve the right to refuse service to residents of any state at any time.
Submitting an application through our Service does not guarantee that you will be matched with a lender or approved for a loan. Loan approval is solely at the discretion of individual lenders based on their underwriting criteria. We make no representations or warranties regarding your likelihood of approval or the terms that may be offered to you.
Xact Loan is a connection service only. We are not responsible for:
To the maximum extent permitted by law, we disclaim all warranties and shall not be liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of our Service.
You agree to indemnify, defend, and hold harmless Xact Loan and its officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including attorneys' fees) arising from your use of our Service, your violation of these Terms, or your violation of any rights of another party.
Any dispute arising from or relating to these Terms or your use of our Service shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association. You agree to waive any right to a jury trial or to participate in a class action lawsuit.
These Terms shall be governed by and construed in accordance with the laws of the United States and the state in which you reside, without regard to conflict of law principles.
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
If you have questions about these Terms of Service, please review our FAQ section or contact us through the information provided on our website.
By using our Service, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service. You also acknowledge that you have read and understood the important disclosures regarding loan costs, risks, and responsible borrowing practices.