There is a single charge on a Possible Finance loan, it is fixed before you accept, and it cannot grow afterwards for any reason. This page lists it at every amount and term we offer, along with everything we do not charge for.
The larger figure is the one-time flat fee. The smaller one beneath it is what you pay each month. Dashes mark combinations we do not offer — longer terms are reserved for larger amounts so that small balances are not stretched across years. The rows map onto three tiers: the Starter Loan up to $1,000, the Installment Loan to $3,500, and the Plus Loan to $5,000.
| Amount | 6 months | 12 months | 18 months | 24 months |
|---|---|---|---|---|
| $200 | $17.50$36.25/mo | $35.00$19.58/mo | — | — |
| $500 | $43.75$90.63/mo | $87.50$48.96/mo | — | — |
| $1,000 | $87.50$181.25/mo | $175.00$97.92/mo | $262.50$70.14/mo | — |
| $2,000 | $175.00$362.50/mo | $350.00$195.83/mo | $525.00$140.28/mo | — |
| $3,500 | $306.25$634.38/mo | $612.50$342.71/mo | $918.75$245.49/mo | $1,225.00$196.88/mo |
| $5,000 | $437.50$906.25/mo | $875.00$489.58/mo | $1,312.50$350.69/mo | $1,750.00$281.25/mo |
A short list on both sides is the point. If you need the money urgently, emergency loans covers how quickly it arrives. Complexity in a price list is usually hiding something.
The formal versions of these statements live on the disclosures page, and the reasoning behind fixed pricing is in our note on flat fees versus APR.
Prices only mean something next to the alternatives. Two of these three are worth taking seriously.
| Borrowing $500 | Cost of credit | Does it end? |
|---|---|---|
| Possible, 6-month flat fee | $43.75 | Yes — on a fixed date |
| Credit card at 29.99% APR, cleared in 6 months | About $44 | Yes, if you keep to it |
| Payday product at $15 per $100, renewed six times | $450 | No — the $500 is still owed |
A credit card you already hold, cleared on a disciplined schedule, costs about what we do. If you have one with room on it, use it. The row that matters is the third: not because it is expensive, but because it does not finish. That distinction is the subject of payday loan alternatives.
Yes. There is no application fee, no origination fee and no prepayment penalty, and nothing is deducted from the amount deposited. A late fee may apply where state law permits it, and it is stated in your agreement.
They measure different things. The fee is a price; the APR is that price expressed as an annual rate solved from the payment schedule. A fee of 17.5% of the amount borrowed over twelve months works out near 30.9% APR.
No. The flat fee is fixed the day you accept and cannot increase afterwards. Nothing compounds and no interest accrues on a missed payment, though a late fee may apply and the miss is reported to the bureaus.
You close the loan sooner, but the total does not fall, because the fee was set once rather than accruing daily. There is never a penalty for doing it.
No. Several states cap the amount, the term or the total cost of credit, and where a cap bites the offer is reduced to comply. The state-by-state ceilings are on the where we lend page.