Get the money you need in 3 simple steps
Think about how much you need to borrow and select a payment amount that works for your budget.
You choose how long you want to pay the loan back - take as long as 12 months to pay.
Plus, you can pay your loan off early with no prepayment penalty.
Our application is completely secure and confidential.
Apply online in ten minutes or less. If you are approved, you can get up to $5,000.
Most applicants receive a decision within minutes during business hours.
If you accepted your loan terms on a Monday through Friday, before 11:30 a.m. CT, Xact Loan will transfer the money to your bank by the end of the business day.
If you accepted your loan terms on a Monday through Thursday between 11:30 a.m. CT and 8 p.m. CT, Xact Loan will transfer the funds to your bank the next business day.
Weekend and holiday funding may take longer depending on your bank's processing times.
Our online application takes just minutes to complete. You'll need basic information like your employment details, income, and bank account information.
We use advanced technology to review your application quickly. Most applicants receive a decision within minutes during business hours.
Once approved and you accept the terms, funds are sent directly to your bank account via ACH transfer.
Basic requirements for Xact Loan application
You must be at least 18 years old to apply
Steady source of income from employment or benefits
Active checking account in your name
Valid email address and phone number
Valid Social Security Number
Must reside in an eligible state
Fill out our simple online form with your information
Get approval notification via email or phone
Review your loan agreement and electronically sign
Money deposited directly into your bank account
Before you begin the online loan application process, taking a few minutes to gather the necessary information will help ensure a smooth and efficient experience. Having all your details ready can significantly speed up the application process and reduce the chances of errors that might delay your approval. Most applicants find that being prepared allows them to complete the entire application in under ten minutes.
First, you will need your personal identification information including your full legal name, date of birth, Social Security Number, and current address. If you have moved recently, you may also need your previous address. Having a valid government-issued ID handy can be helpful for reference. You should also have your contact information ready, including a working email address that you check regularly and a phone number where you can receive calls or text messages.
Employment and income information is crucial for your application. You will need to provide your employer name, address, phone number, and how long you have worked there. Have your income figures ready, including your gross monthly or annual income. If you receive income from multiple sources such as a second job, freelance work, or government benefits, be prepared to provide details on all income streams as this can strengthen your application.
Finally, you will need your banking information for the deposit of funds and setting up repayment. This includes your bank name, routing number, and account number. Make sure you have access to a checking account in your name, as most lenders require this for fund disbursement and automatic payment setup. Having a recent bank statement can be helpful to verify these details quickly.
Once you click submit on your loan application, our advanced system immediately begins processing your information. The application is encrypted and transmitted securely to our processing servers where it undergoes initial verification checks. This automated review typically takes just seconds and checks for completeness, accuracy, and basic eligibility criteria.
If your application passes the initial screening, it is then matched with lenders in our network who are most likely to offer you favorable terms based on your profile. This matching process considers factors like loan amount requested, your credit profile, income, and location. Multiple lenders may review your application simultaneously, which can result in competitive offers.
When a lender is interested in your application, you will receive notification via email and possibly by phone. This typically happens within minutes during business hours, though some applications may take a few hours depending on the time of day and lender availability. The notification will include the loan offer details including the approved amount, interest rate, repayment term, and monthly payment amount.
It is important to carefully review any loan offer you receive before accepting. Make sure you understand the total cost of the loan including all fees and interest. Compare the monthly payment amount to your budget to ensure you can comfortably afford the payments. If you have questions about any terms, do not hesitate to contact the lender for clarification before accepting the offer.
Every loan comes with specific terms and conditions that govern the borrowing relationship. Understanding these terms is essential for responsible borrowing and avoiding any surprises during the repayment period. Take time to read through all documentation carefully before accepting any loan offer.
The Annual Percentage Rate or APR represents the total yearly cost of borrowing expressed as a percentage. This includes not just the interest rate but also any fees charged by the lender. APRs on personal loans can vary significantly based on your credit profile, with better credit typically resulting in lower rates. Always compare APRs rather than just interest rates when evaluating loan offers.
Repayment terms define how long you have to pay back the loan and how payments are structured. Longer terms mean lower monthly payments but more interest paid over the life of the loan. Shorter terms have higher monthly payments but less total interest. Consider your budget carefully when choosing your repayment term. Some lenders allow you to change your payment date once to better align with your pay schedule.
Be aware of any fees associated with the loan including origination fees which are charged upfront, late payment fees if you miss a due date, and prepayment penalties if you pay off the loan early. Many online lenders today offer loans with no prepayment penalties, allowing you to save on interest by paying off your balance ahead of schedule when possible.
Successfully repaying your loan on time is crucial for your financial health and credit score. Setting up automatic payments is one of the most effective ways to ensure you never miss a due date. Most lenders offer autopay options that withdraw your payment directly from your bank account each month on a specified date.
Building your payment into your budget from day one helps ensure you always have funds available when payment is due. Consider your loan payment as a fixed expense just like rent or utilities. If your payment is due after payday, try to set aside the payment amount immediately when you receive your paycheck rather than waiting until the due date.
If you find yourself struggling to make a payment, contact your lender immediately rather than just missing the payment. Many lenders have hardship programs or can work with you to adjust your payment schedule temporarily. Communication is key. Ignoring the problem will only make it worse and could result in late fees, credit damage, and collection activity.
Whenever possible, consider making extra payments or paying more than the minimum amount due. Even small additional amounts can reduce your principal balance faster and save you money on interest over the life of the loan. Check that your lender applies extra payments to principal rather than just advancing your due date. Building this habit can help you become debt-free faster.