Frequently Asked Questions

At Silver Financial Capital, we serve as a direct lender offering online loans through a simple and efficient medium. We offer short-term personal installment loans and payday loan alternatives that are available for borrowers with all credit scores.

Yes, when you apply for a loan with Silver Financial Capital, there is no broker involved in the deal and you shall bear no costs of commissions and get a transparent offer from us directly.

The loan amount is determined based on your current monthly income and the stability of the source. Few other factors may also play a role in this decision. Although we offer loans of up to $1,500, you can qualify for $500, as a first-time borrower, and bigger amounts based upon assessed eligibility thereafter.

A loan process consists of many parts and some of these can directly depend upon your promptness and diligence. Provided that all our requirements are fulfilled/evidenced with clear and complete details and documents, we typically process loan approvals in just hours. In some cases, loan approval can take longer when some necessary verifications that involve partners, require more time than usual. Once the loan is approved, and the loan offer is accepted by out, we release your funds with no delays. Thereafter, the time it takes for the funds to be made available for you to use, depends upon your bank's policies and processes.

To be eligible for our loans, the borrower needs to:

• Be 18 years of age or above, and a US permanent resident or citizen
• Be employed for the past three months or have a verifiable stable source of monthly income
• Own an active checking/savings bank account
• Be earning a monthly income of at least $1,000
• Not currently be a debtor in a bankruptcy case or presently intend to file for bankruptcy relief voluntarily

Here's what you shall need to share:

• Your SSN
• Bank account statement for the past 3 months
• Proof of income for the past 3 months
• Proof of identity (driver's license)
• Valid contact details

Salaried individuals who can provide pay stubs/salary slips have higher chances of getting loan approval. If you do not receive a salary but can prove a stable source of a monthly income of above $1,000, loan approval may be done subject to various other requirements being fulfilled.

We fully comply with the Federal Equal Credit Opportunity Act, which prohibits creditors from discriminating against credit applicants based on race, color, religion, national origin, sex, marital status, age (provided the applicant can enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

In most cases, we do not verify the employment details provided to us. It may be necessary to do so in certain cases, especially if the credit scores are poor or the provided documents and details are not readily acceptable for various reasons. For your and our financial security, we do not commit to providing loans with no employment verifications.

In most cases, we do not verify the authenticity of bank statements provided to us. However, we must verify the authenticity of the bank account details before transacting a loan. It may be necessary to process verification of the provided bank statement in certain cases, especially if the credit scores are poor or the provided documents and details are not readily acceptable for various reasons. For your and our financial security, we do not commit to providing loans with no bank verifications.

You're welcome to apply for a loan at any time. However, if you have a loan still open with us, your loan application shall only be considered post the closure of your current loan.

You can apply for our loan conveniently, online using a mobile device or a computer, or you could do it over a phone call.

No, we do not charge a fee for loan applications.

We typically provide loans with a finance charge that is $30 per $100 borrowed i.e. an APR (Annual Percentage Rate) that ranges from 365% to 1,564%, depending on the tenure. The standard loan term is 12 bi-weekly payments, not to exceed 180 days. Our loan fee depends on the length and the number of agreed schedules of payments. If you pay early, your fee will be adjusted accordingly based on your truncated payment schedule. There is no penalty charged for early payment. Should you wish to extend the loan tenure, it is considered as a re-financing subject to eligibility.

No paperwork is needed for our loans. The loan offer is also sent electronically and an acceptance of the terms can be done online.

If you are unhappy with our loan offer, kindly communicate with our team via email or on call, and we may be able to assist you.

Yes, you can do so. However, if you do not intend to keep the approved loan, kindly connect with us at the earliest and submit it back by the end of the next business day. No charges or fees will be deducted from you if you resubmit it in the stipulated time.

Repayments are automated. The exact process shall be mentioned in the loan offer agreement. The repayments are scheduled ACH (Automated Clearing House) transactions that get debited from the provided bank account on the due date. Kindly refer to the loan agreement for exact details related to your loan repayments.

We offer multiple options to assist with payment hardships depending on your payment history, which may be subject to your eligibility. Whenever you face such a situation, we will attempt to assist you in the best-suited way. In most cases, you can rollover the loan with a finance charge that is $30 per $100 borrowed and APR (Annual Percentage Rate) that ranges from 365% to 1,564%, depending on the terms of the extension. In other cases, the loan agreement terms must be referred to, and our team should be communicated with, for the best options available.

We do not currently offer this facility. To apply for a loan, you will have to pay any existing loan that you have with us, first.

If you ever need to change your existing bank account details then, please let us know and we will guide you through the process. Changing an account can take up to 3 working days.

The annual interest rate on the loan is known as its APR. Our loans have APRs competitive to the market. If you plan and payoff responsibly, these loans will not seem expensive to you as the term of the loan is short. A short tenure loan typically carries a high APR.

An amount of $20 is charged as an NSF fee.

Once the loan is approved, you will receive our (or the loan agreement) which details all applicable terms and conditions of the loan.

No, we offer short-term personal loans which you can use in whatever way you wish to.

We salute your services for the country, but at present, we do not have policies to provide a loan to personnel working in the US Armed Forces.

If you have any questions that you could not find an answer to, kindly get in touch with us. We would be glad to answer every query of yours.

Please e-mail us your queries or questions at support@silverfinancialcapital.com