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The Loan Application Process

What do I need to apply for the installment loan?

You’ll need:

An active checking account, which must be active for at least 30 days, that allows direct deposit.
A working telephone number that we can verify.
Since you’ll be asked to provide details about your gross income, net income and pay frequency on the application, it will help to have your most recent pay stub or other income documentation on hand.

What are the steps to get an installment loan?

Complete and submit your online application.
Review and select your loan amount, total payback amount and payment due dates.
Electronically sign your loan agreement.

Will I need to provide a blank check?

No. Since the installment loan is processed online, we will only need your routing and account numbers from your checking account.

To populate your routing and account numbers automatically, you can connect to your checking account during the application process with Plaid, a third-party verification platform, using your normal bank credentials. Plaid will verify your bank and checking account information, then populate it in the application for your convenience.

How long does it take to get approved for an installment loan?

When you submit your application, you’ll receive a prompt answer on whether you qualify and the amount you’re eligible to borrow.

How do I sign my installment loan documents?

Online, you can sign your installment loan documents by checking the “eSign” box when prompted.

When you check the eSign box, it serves as a legally binding electronic signature. Always review your loan agreement, the privacy policy and any other terms or conditions that apply before you sign your application.

When and how will I receive my funds from my installment loan?

Once you are approved, your loan will be processed. If we are able to verify your information and originate your loan before 8 p.m. ET, in most cases you can expect to receive your funds no later than the following business day. We are unable to process loans on days when banks are closed. If you apply late in the day before a banking holiday, or on a banking holiday, your loan will be originated the next business day, and you can expect to receive your funds on the no later than the following business day.

PRODUCT COMPARISON

Short-term loans can work for smaller, unexpected expenses. But if you find yourself needing more money, with more time to repay, Xact could be the solution you’ve been looking for. With loans up to $5,000, you could get the funds you need to consolidate debt into one easy payment. See the difference – with Xact.

Short-term Loan

Smaller loan amounts for unexpected expenses
Loan due date aligned with payroll date
(bi-weekly/monthly)

Xact Loan®

Larger loan amounts - $500–$5,000
Save time and apply online
18 or 24 month term¹
Consolidate debt into one payment
Access to FREE credit score

Consumer Notice

Actual loan amount and terms will vary based on final evaluation and credit qualifications. Payment amounts vary by rate. The Xact® Loan has either an 18-month or 24-month term, depending on consumer qualifications. The 24-month term may only be offered to qualifying returning or refinancing consumers. The table below provides illustrative examples for each available term length.

Term Length	Principal Balance	Annual Percentage Rate (APR)	Installment Payments	Total Payments
18 Months	$1,400	192.77%	37 biweekly payments of $119.42	$4,417.69
24 Months	$2,000	144.61%	48 biweekly payments of $119.69	$5,745.41

There are no application, origination, late payment, or returned payment fees. APRs range from [125% - 225%]. The maximum APR on any XACT® Loan is 225%. APRs will vary depending on credit qualifications and loan amount.

Payments must be made on time in order to enhance credit with lender.
Approval depends upon meeting legal, regulatory and underwriting requirements. All times and dates are based on Eastern Time (ET). If your loan is approved and originated by 8:00 p.m. ET on a business day, your funds will typically become available no later than the following business day. The lender may, at their discretion, verify application information by using national databases that may provide information from one or more national credit bureaus, and the lender may take that into consideration in the approval process .
Availability restrictions apply.
Transunion CreditView Dashboard is a third party provided service. The material has not been modified or validated by Xact.

The Xact^® Loan is an installment loan originated and funded by Capital Community Bank a Utah Chartered bank located in Provo, UT, Member FDIC.

* Xact loans to California residents have a maximum amount financed of $2,400.

The Company, individually or through its affiliates, is licensed as a Debt Collector by the California Department of Financial Protection and Innovation (DFPI), License Number 10435-99.

Notice to California consumers: Information on your privacy rights under the California Consumer Privacy Act can be found by reviewing the California Consumer Privacy Act (CCPA) Policy.

Notice to Alabama, Alaska, Arkansas, Arizona, California, Delaware, Florida, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Wisconsin and Wyoming Customers: Xact Installment loans are originated by Capital Community Bank, a Utah chartered bank, located in Provo, UT, Member FDIC.

South Carolina Consumer Disclosure
Information on the California Consumer Privacy Act
Do Not Sell or Share My Personal Information