You’ve come for the right medication if your headache this day is about ‘How to Apply for a Fig Loan’. I know how it feels even when your salary drops but then you are not happy because when you check your expenses for the month and how much you earn, it just doesn’t match up.
As a result, the next option is to go for loans to cater for what your salary couldn’t. However, you must be careful in the type of loans you go for and the company you choose. That is why Fig Loan is here for your consideration.
As mentioned earlier, I’m going to show you how you can apply for a Fig Loan. However, before going into that, let’s first understand what Fig Loans is all about.
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What Is A Fig Loan?
Fig Loan is your go-to loan provider that offers instant loans to workers who need urgent money to solve a particular need. With Fig Loan, you get to build your credit whiles solving you needs.
Fig loans comes with no hidden charges, meaning what you see is exactly the price you pay unlike in the case of some Loan providers that charge you late fee among other. You also get to pay back your loan at your own pace hence reducing the debt burden on you.
Fig Loans are only available in the United States and in only some selected States as well.
There are a few minor requirements you will need when applying for a Fig Loan. They include;
- A strong and secure internet connection
- Mobile phone, tablet or computer
- Your phone number
- Social Security Number
- A valid government-issued photo ID
- Enable online banking
- Bank log-in information
- A savings or checking account that can connect with Figs 2 bank verification partners
Once you can provide all these requirements, then you can now go ahead and apply.
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How To Apply For A Fig Loan
- Visit figloans.com
- Confirm your State of residence
- Now select loan amount you wish to apply for
- Submit loan amount
- You will now be directed to Fig loan’s registration page to answer some basic questions.
- Create an account at the registration page if you are new or log in to your account if you are an existing customer.
- Enter referral code if you were referred by an existing customer
- Review and sign disclosures
- Provide answers to personal information questions such as full name, phone number, home address, date of birth etc.
- Provide Fig Loan with some Secure Information (Fig Loan prides themselves in security, transparency and maintain deep community ties hence do not worry when providing them with such information. Secure information may include; driver’s license information, Social Security Number, routing and account numbers and monthly income.
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FREQUENTLY ASKED QUESTIONS (FAQs)
Q1. How does Fig Loan affect my credit score?
First know that Fig Loan is there partly to help you build your credit as Fig Loan does not look at an applicant’s credit score to accept a loan application. They simply do not look at your FICO or other traditional credit scores when you apply.
What they look at is your bank account statement which has your transaction history and income. Fig then report your loan on your credit report to their partner Clarity services till you pay off your loan. This is important because repayment history reported to the main credit bureaus determines your credit score hence it is advisable to pay off your loan according to the initial schedule to boost your scores.
Q2. What States is Fig Accessible to?
Fig loans is currently available to residents of Ohio, Utah, Florida, Illinois, Missouri and Texas.
Q3. What other products does Fig offer?
Fig also offers a Credit Builder Loan exclusively to customers in Texas. This loan is more or less a Savings account that builds credit.
They also partner certain nonprofit organizations to help them offer low APR, non-profit loans through their Fig36 program. However, if you need such loans, you need to apply directly through those non-profits. They are;
- United Way THRIVE (Houston Area)
- MAM (Houston Area)
- Catholic Charities (Dallas Area)
- Foundation Communities (Austin Area)
- City Square