Interest rate is the percentage of the principal of a loan a lender charges a borrower to make the loan. Finance charges are a broader measure of the cost of borrowing that include both interest and any applicable fees. Annual percentage rate, or APR, expresses the finance charges on a loan as a yearly rate. Finance charges are based on a consumer’s creditworthiness. A consumer’s creditworthiness is determined by several factors, including credit and payment history, income, employment, existing debt, and types of debt. The APR interest rate for your loan will be determined by the amount you choose to borrow and length of time you choose to keep your loan outstanding. You can reduce the total cost of your loan by paying off your loan priorr to the last due date of the payment schedule or by making additional payments on or between due dates.
The copy of your loan details, finance charges and APR interest rate will be fully disclosed to you in your loan agreement upon approval of your loan. Contact us today to see if you qualify for one of our loans. We can assist you and present a range of loan options for which you may qualify.*
Our Company adheres to all federal laws and regulations that apply to short term and online personal lending industry. Our company does not discriminate against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of an applicant’s income derives from any public assistance program, or because an applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Late Fee: Payments made more than 5 days late will be charged and additional $18.95 and may continue to accrue additional interest charges.
NSF Fee: If payments are returned for some reason, additional $28.95 NSF fee will be assessed.
Prepayment: If you pay off your loan early, you will not have to pay a penalty. Bear Lending LLC dba Federal Advance encourages repayment as quickly as possible to avoid finance fees.
For more details about this service and other terms of your loan, please refer to our Terms and Conditions.
Note: This is an expensive form of borrowing, and it is not intended to be a long-term financial solution. These loans are designed to assist you in meeting your short-term financial needs and are not intended to be a long-term financial solution.
*All loans are subject to credit approval.
We do not always lend in every state. Our states of operation change frequently, please check back periodically to see if we are doing business in your state. Federal Advance loans are currently available to residents of all states except Arkansas, Connecticut, District of Columbia, New York, Pennsylvania, Vermont, Virginia, West Virginia and Wisconsin.
If you have any questions about Federal Advance please contact us or check out our FAQ for further information. Our hours of operation are Monday through Friday 8:00AM to 6:00PM CST. Online applications processed between 11:30AM CST and 6:00PM CST are usually funded the next business day with a few exceptions. However, you can always email us at support@federaladvance. com.