We’ve put together the most common questions we hear from borrowers. Still not sure? Our U.S.-based team is happy to help — just drop us a line.
Getting started
12M Loans is an online lending platform that connects borrowers across the United States with verified direct lenders. We are not a lender ourselves. When you submit a request, we share your information securely with our lender network so you can receive offers from lenders who may be willing to work with you.
To apply you must be 18 or older, a U.S. citizen or permanent resident, have a steady monthly income of at least $1,000 and an active checking account. Some states and some lenders may have additional requirements.
Loan amounts in our network typically range from $100 up to $5,000. Your personal maximum is determined by the lender, based on your credit profile, income and state of residence.
The online application takes most people about 3 minutes. You’ll normally see an offer on screen in under 60 seconds after submitting.
Credit & approval
Yes. Our lender network reviews more than just your FICO score — your income, employment and bank history are taken into account. Many of our customers have less-than-perfect credit.
No. Checking offers through 12M Loans uses a soft credit inquiry, which does not impact your FICO score. A hard inquiry only happens if you choose to finalize a loan with a specific lender.
Some of our lenders may still be able to help. Every situation is different — submit a short request and we’ll see which lenders can offer you terms.
Funds & repayment
Most approved customers receive funds by direct deposit the same business day. Depending on your bank and the time you sign, funds may arrive the next business day at the latest.
Repayments are set up automatically with your lender via ACH direct debit from your bank account on the due dates agreed in your loan agreement. You can also make extra or early payments at no cost.
No. Our lender network does not charge prepayment penalties. Paying early can save you money on interest.
Costs, fees & disclosures
Submitting a request on 12M Loans is always free. All applicable loan fees are disclosed by your lender before you sign any agreement, so there are never any surprises.
Rates and terms are set by each lender, based on your credit profile, income, state of residence, loan amount and term. We encourage you to read each offer carefully before accepting.
Please visit our Rates & Fees page for illustrative APR ranges and typical monthly payment examples.
Still have questions?
Talk to a real human on our U.S.-based support team, 7 days a week.