Advance Financial FLEX Loan Review

Advance Financial FLEX Loan is offered by Advance Financial, a direct lender founded in 1998 and based in Nashville, TN. Advance Financial FLEX Loan is available in 12 states across the USA.

What APRs does Advance Financial FLEX Loan offer?

Advance Financial FLEX Loan offers a fixed APR product that ranges from 240% APR up to 360% APR.

Does Advance Financial charge an origination fee?

No, they do not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does the Advance Financial charge a cash advance fee?

No, they do not charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn.

Does the Advance Financial FLEX Loan charge a statement balance fee?

No, this lender does not charge a statement balance fee.

Does Advance Financial FLEX Loan charge a late fee?

No, they will not charge you a late fee of up to $0 .

How much can you borrow via Advance Financial?

Upon approval and based on your credit score, your personal line of credit will be assigned a credit limit of at least $25 and as much as $4,000. .

Advance Financial FLEX Loan Fees

Cash Advance Fee	N/A
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	$0
Statement Balance Fee	No

What do you need to qualify for Advance Financial FLEX Loan?

The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Advance Financial FLEX Loan does not have or does not disclose a minimum annual income eligibility requirement. Advance Financial FLEX Loan only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Advance Financial FLEX Loan product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Advance Financial FLEX Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Proof of income
• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a personal line of credit?

Advance Financial will typically approve (or deny) a line of credit application within 48 hour s and fund personal lines of credit within 1 business day of approval.

Does Advance Financial FLEX Loan report your account activity to credit bureaus?

Yes, Advance Financial FLEX Loan reports your account activity to the following credit reporting agencies:

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Advance Financial

• Visit the website.
• Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
• Check the information is accurate and submit your application.