Understanding APR Rates, Loan Costs & Terms

Submitting your inquiry for a loan at 247LendingGroup.com incurs absolutely no cost. 247LendingGroup.com is not a lender and does not provide lending services directly to consumers. Based on the information you submit, 247LendingGroup.com searches its database housing its network of lenders to pair you with the lenders and loans that may be suited to your needs. Our lending network consists of direct lenders with APRs ranging from 5.99% - 35.99% which include origination fees ranging from 0-5%. Maximum repayment period is 72 months (6 years). Minimum repayment period is 12 months (one year). 24/7 Lending Group cannot guarantee final terms, rates or repayments as they vary by lender. There is no prepayment penalty in the event you want to pay your loan off early.

After submitting your information, if you are matched with a lender, the lender will contact you to confirm your personal information and finalize the loan. Please make sure that you respond in a timely manner to ensure that funds are made available as quickly as possible. Carefully review the loan amount, fees and other details of the agreement. You are under no obligation to accept a loan until you agree with and e-sign the agreement. Please feel free to exit the process at any time as you are under no obligation to accept the loan presented.

Full Disclosure of Terms
If approved for a loan, lenders will provide documents that contain all fees and rate information pertaining to the loan being offered to you. Each lender has different loan terms, such as the loan amount, the APR for the loan, repayment schedules, etc. Each lender is required by federal Truth in Lending Act law to present to you the terms of the loan, the rates and all costs associated with the loan prior to you executing the loan documents. 247LendingGroup.com has no control or knowledge of the loan details between you and your lender. Please review the fee and rate information provided to you by your lender thoroughly and completely before agreeing to the terms of the loan. You are under no obligation to continue with the application process if you find a particular lender's loan terms unsuitable and can exit the process at anytime.

Personal Loan Costs
There is no fee to apply for a personal loan with 247LendingGroup.com. On the whole, the eventual cost of a personal loan will vary from person-to-person and will be based on factors related, but not limited to, the requester, the state the requester lives in, the lender, the amount borrowed, and the terms and length associated with the loan.

Here is a representative example of cost for a personal loan -
For a $5,000 36-month loan at an interest rate of 6.03% with a 1.11% origination fee of $55.50, you will receive a loan amount of $4,944.50 and will make 36 monthly payments of about $152.18 at a 6.78% APR. Total loan cost would be $5,478.48.

Below are some more general representative examples.

Loan Amount Loan Term APR Range Monthly Payment Total Repayment
$4,000 12 months 5.99%-35.99% $344.25 - $401.83 $4,131.00 - $4,821.96
$7,000 36 months 5.99%-35.99% $212.92 - $320.59 $7,665.12 - $11,541.24
$9,000 48 months 5.99%-35.99% $211.32 - $356.15 $10,143.36 - $17,095.20

Prior to applying, consider utilizing our personal loan calculator here to determine what to expect for your loan payments over different rates, terms and loan amounts.

Repayment
Repayment on personal loans is generally performed either monthly or once every two weeks, depending either on your preferences or your lender's terms. You may be able to have funds withdrawn automatically from your bank account on the date agreed upon with your lender. Be sure that you read and fully understand all of your lender's policies regarding repayment and understand what you will have to do as a borrower to repay the loan. Your loan can not be conditioned upon repayment by electronic funds transfer or automatic withdrawal. Consult your lender for more details.

When borrowing from our lender network, minimum repayment period is 12 months (1 year), while the maximum repayment period is 72 months (6 years). There is no penalty in the event you want to pay your loan off early. Not all borrowers will qualify for maximum repayment periods.

Late Payment Policy
All lenders have varying policies regarding late payments. Review the late payment policy detailed in the loan documents provided to you by your lender before appending your e-signature, and thereby agreeing to the loan terms. All lenders, however, must abide by applicable laws, rules, and regulations regarding late payment fees. Lenders sometimes will grant borrowers a one-time exception for a late payment and increasing rates, fees and reporting your negative account activity to the credit bureaus. However, if you are late more than once, it is likely the cost of your loan will increase and your credit score will be adversely affected.

Non-Payment Policy
Your credit score will be adversely affected if you do not make payments. In addition, additional fees or charges may apply to you in the event that you are unable to repay your loan. 247LendingGroup.com uses commercially reasonable efforts to work only with reputable lenders dedicated to pursuing collections of past due accounts with conduct that is fair and reasonable.

Potential Impact To Credit Score
Your credit score is an assigned number that is reflective of your credit value as seen by lenders. A credit score is primarily based on credit report information almost totally sourced from the credit bureaus. As a borrower, it is important that you are aware that your credit score and rating will be negatively impacted if you do not make your payments on time. As a result of not paying your loan timely, not only will your credit score be negatively impacted, achieving approval for other loans and credit cards can become more difficult. While we do help people of all credit types, we can not help everyone and do not guarantee approval. All loans are subject to credit approval. Some of the lenders we work with are able to offer rate quotes for your loan without a credit check. Other providers we work with can issue pre-approvals and approvals via a soft credit pull (no impact to your credit). Once pre-approved by a Loan Provider we matched you with, we will hand you off to that lender for the purpose of you becoming their client, and them helping you finalize your loan with them. During the process of finalizing your financing, some Loan Providers may need to perform a hard credit inquiry. Those Loan Providers will ask for your permission prior to doing so. It is important to understand that having multiple hard credit pulls in a given period of time can adversly affect your credit score and rating.

Collection Practices
247LendingGroup is not a lender. We do not have any involvement in the debt collecting process. As part of the loan documents your lender will provide to you, you will find detailed information concerning their specific debt collection practices. If you are unsure in any way of what those collection practices entail, we suggest that you communicate those concerns with your potential lender prior to executing your loan documents. We make sure that the lenders that make up our network only utilize fair and reasonable methods when pursuing delinquent accounts.