How It Works

Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications approved before 10:30 a.m. CT Monday – Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case, the loan if approved, will be funded the business day after such additional verification is completed.

Military Lending Act Coverage: SiLoans does not offer loans to individuals covered by the Military Lending Act (MLA). To determine if an individual is covered by the MLA, we obtain a report from a national consumer reporting agency and ask the above question as an added precaution. The MLA defines “servicemember” as a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, serving on active duty under a call or order that does not specify a period of 30 days or fewer. “Dependent” is defined as a servicemember’s spouse, child under age 18, or other individual for whom a servicemember provided more than half the individual’s support in the past 180 days. To check if you are covered by the MLA, you can submit a single-record request on the official MLA website.

Notice of Furnishing Negative Information: We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

Loan Disbursement: Applications approved before 10:30 a.m. CT Monday-Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case the loan, if approved, will be funded the business day after such additional verification is completed.

Accepted Payment Methods For Feb Loans: For loans made by First Electronic Bank, Member FDIC, acceptable payment methods include ACH, debit card, personal check, money order, and cashier’s check. Cash not accepted. CC Connect Installment Loans are provided by CC Connect, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC. Depending on your state of residence, applications submitted on this website may by originated by CC Connect, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC.

High Cost Disclosure: SiLoans loans have a high APR and are not recommended as a long-term financial solution. Additionally, these loans typically include a loan origination fee that is generally not refunded if you prepay the loan. Your choice of a loan product should match your needs and ability to repay. Consider carefully the amount, term, and finance charges for any loan. If you choose a high interest loan, reduce your finance charges by paying more than the minimum installment payment. Paying late increases your finance charges and may cause you to incur a late fee. Customers with credit difficulties should seek consumer credit counseling. For helpful resources concerning financial literacy, credit score trends, and a glossary of financial terms, please see the Resources tab at www.siloans.com.

Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.