Overview
Once you sign your loan documents, the disbursement process begins.
Loan Disbursement Timeline
Each of our lending partners has a specific cutoff time for loan funding. In most cases, if you sign your loan agreements before the cutoff time, the funds transfer will be initiated the same day. If after the cutoff time, funds transfers are typically initiated the next business day.
The cutoff time will vary depending on the lending partner you are allocated to during the application process, but in general you will want to finalize your loan before 11:50 AM ET (Monday-Friday) in order to potentially receive the funds the same day.
You can always check the specific cutoff time of your lending partner by reaching out to our Support Team via phone or email. We’d be happy to help!
Timelines by Product
Personal Loans, Auto Secured Personal Loans, and Relief Loans adhere to the lending partner cutoff times mentioned above.
Auto Refinance Loans require us to disburse funds via check to the previous lienholder for your vehicle. This process typically takes 7-10 business days.
Auto Finance Loans have a 3:50 PM ET cutoff time. These loans disburse either the next business day or two business days after being finalized.
Bank Holidays
If your loan is accepted on a bank holiday, it will be processed on the next business day.
Bank Account Requirements for Receiving Funds
With the exception of Auto Refinance Loans and Auto Finance Loans, where the funds are sent directly to your prior lienholder or the dealership where you purchased your vehicle, in order to receive your loan proceeds, you must:
✔ Add and verify a personal bank account in your name.
✔ Ensure the account is from a U.S. financial institution with a valid routing number.
✔ Note that business accounts are not accepted for loan disbursement.
Final Thoughts
Loan disbursement times depend on when you accept your offer, the loan product, as well as lender processing timelines. When the funds will be available to you will depend on your financial institution’s transaction processing time and policies. To check your expected disbursement date, please contact our Support Team with any questions.
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