Move the slider, pick a term, and watch the whole cost appear at once — the monthly payment, the one-time flat fee, and the representative APR. Nothing compounds, nothing rolls over, and nothing here touches your credit file.
Every Possible Finance loan uses one flat fee — no compounding interest, no application charge, and no penalty for paying off early. Change either control and every figure updates at once.
An estimate for illustration only. Your exact fee, term and APR are confirmed in writing before you accept, and they vary by state. Checking your rate is free and won’t affect your credit score.
There are only four steps, and none of them are hidden. You can reproduce every number on this page with a pocket calculator.
The amount you set on the slider is the principal — the money that actually reaches your account. There is no origination charge subtracted from it, so $2,000 borrowed means $2,000 deposited.
The fee is priced against how long the money is outstanding, at a representative rate of 17.5% of the principal per twelve months. On $2,000 over 12 months that is $350. Over 6 months the same $2,000 costs $175, because you have the money for half as long.
Principal plus fee is split evenly across the term. $2,000 plus $350 over 12 months is $195.83 a month — the same figure every month, first due 30 days after funding. Nothing accrues between payments, so a payment that lands late does not inflate the balance.
APR restates that payment schedule as an annual rate so it can be set beside any other credit product. It is solved from the payments themselves rather than quoted from the fee, which is why $2,000 over 12 months shows roughly 30.9% APR even though the fee is 17.5% of the amount borrowed. Our guide to flat fees versus APR explains why the two numbers differ.
Because the fee is fixed rather than accrued, every payment carries exactly the same share of principal and the same share of fee. There is no front-loading.
| Payment | Amount | Toward principal | Toward fee | Balance after |
|---|---|---|---|---|
| 1 | $195.83 | $166.67 | $29.17 | $2,154.17 |
| 2 | $195.83 | $166.67 | $29.17 | $1,958.34 |
| 3 | $195.83 | $166.67 | $29.17 | $1,762.51 |
| … | … | … | … | … |
| 11 | $195.83 | $166.67 | $29.17 | $195.83 |
| 12 | $195.83 | $166.67 | $29.16 | $0.00 |
| Total | $2,350.00 | $2,000.00 | $350.00 | — |
Repaying early closes the loan sooner but does not reduce the $350, because the fee was set once at the start rather than accruing day by day. That is the trade the flat-fee model makes: total certainty about the cost, in exchange for no discount for speed.
A calculator that only flatters the product selling it is not much use. Here is where we are genuinely cheaper, and where we are not.
| Borrowing $2,000 for 12 months | Cost of credit | Total repaid |
|---|---|---|
| Possible, 12-month flat fee | $350.00 | $2,350.00 |
| Credit card at 29.99% APR, repaid in 12 equal payments | $339.57 | $2,339.57 |
| Payday-style product renewed across the same year | Unbounded — grows with each renewal | Principal still outstanding |
Read that middle row honestly: a credit card you already hold, at a typical rate, repaid on a disciplined 12-month schedule, comes out marginally cheaper than we do. If that describes you, use the card. We are built for the case where that card does not exist, is already at its limit, or was declined — and where the realistic alternative is a product that renews rather than ends. Our note on what separates a fair loan from a predatory one sets out the rest of that test.
It is an estimator, not an offer. Three facts about your situation sit outside it — and one judgement it has no business making for you.
Every figure here assumes approval. Approval itself turns on income, banking activity and the state you live in, none of which this page can see. The full list is on the eligibility requirements page.
Several states cap the amount, the term or the total cost of credit. Where a cap sits lower than the slider allows, the cap wins and the offer shrinks to meet it. Check where we lend.
A fee of 17.5% per twelve months is representative, not promised. The rate you are offered may sit above or below it, and whichever it is, it is disclosed in writing before you accept anything.
No. It runs entirely in your browser and sends nothing to us. Even a full rate check uses your income and banking activity rather than a hard FICO inquiry, so it cannot lower your score.
The fee is priced against how long the money is outstanding. A longer term lowers the monthly payment but raises the total you repay. Neither figure compounds, so whichever term you choose, the cost is fixed the day you accept it.
It is representative, not a quote. Your actual fee, term and APR depend on your state, the amount approved and your banking history. All three are disclosed in writing before you accept. See what APR actually measures.
You can repay at any time with no penalty. Because the fee is fixed rather than accrued daily, paying early does not reduce the total — but it does close the loan sooner and frees the payment from your monthly budget.
Longer terms are only offered above certain amounts. An 18-month term needs at least $1,000 and a 24-month term needs at least $2,500, so that small balances are not stretched across years and turned into an expensive habit.
No. Several states cap the maximum amount, the maximum term or the total cost of credit, so a real offer may be smaller or shorter than the calculator suggests. The current list is on where we lend.