Frequently Asked Questions

What is a short-term advance used for?

You may use your short-term advance for any reason that you need. We cannot tell you how to use short-term loans. It is entirely up to you to use it wisely.

How much money can I borrow?

I thought I could receive $1000 or $1500. Is it possible to receive more than $400 for a first-time advance? If you came to this site via a different site, or applied on a different site, but are funded by Rushmore Financial it is possible that another site advertised a loan up to a certain amount that is higher than what we actually lend to first-time borrowers. The advertising you saw may have been from someone who is not a lender but is just referring applicants to lenders. All lenders have their own lending limits and policies.

It is possible in some cases to receive more money initially, but you may be required to provide us with additional information including, but not limited to a bank statement.

How will I receive my money?

The process is automatic and convenient. Once your loan is approved, the funds are electronically deposited into your account via an ACH/EFT transaction or a same-day wire transfer for an additional fee.

When can I expect to receive my money?

Your loan application will be processed quickly once it has been received. Once the loan is approved you will generally receive your money the next business day (excluding bank holidays and weekends).

Is it possible to receive the money today?

Yes! A same-day credit option may be available but is not guaranteed. If this option is available, we could have the money in your account via wire transfer by the end of the business day (not including holidays or weekends). Additional fees may apply.

Do I have to have collateral to receive a loan?

Your job and your paycheck qualify as your collateral.


Can I get a short-term loan with bad credit or no credit?

It does not matter if you have bad credit or no credit at all. short-term loans are designed to help people in need of emergency credit, so lenders understand that you may have had credit troubles in the past.

Do you check the major credit bureaus during the application process?

No, the three major traditional credit bureaus are not used in the application process.

How will I know if I have been approved?

You will be contacted by phone or email by one of our representatives.

Do you have to contact my employer?

Yes. We need to verify your employment. To protect your privacy, our representatives are very discreet and will not disclose any information to your employer regarding the nature of our business.

Why do I have to verify my bank account information?

We need to ensure that the information you provided with your application is correct. This allows us to deposit the money to your account without any further complications.

Why do you need to know my account balance and last two deposits?

To ensure that your payment due dates will coincide with your pay schedule or direct deposit schedule.

How long is the short term loan for?

This is a short-term loan; therefore your due date is based on your next pay date (up to 16 days away). If you get paid twice a month, you will be due on your very next pay date. If that date is less than 5 days away, we will use your next pay date up to 16 days total.

When do I repay? How do I repay? Do I have to repay it all at once?

Your repayment is the best part. The minimum required payment is the finance fee which is due on your next pay date. You have the option to pay only the finance fee or to pay the fee plus any increment of $10 or the principal in full. A finance fee will be due each due date that you carry a balance with us. You must phone us no less than three business days prior to your due date to set up a payment arrangement if you would like to pay off or pay down your loan. If we do not hear from you we will simply deduct the finance fee from your bank account. We also accept smaller principal payments on your due dates if your current budget does not allow for a full payoff. You get cash when you need it most and repay when you have it!

How much do I have to pay on my first due date?

The actual dollar amount depends on the amount of your short-term advance and when your pay date from your job falls. Generally, you are only required to pay the finance fee on your due date, but it is a good idea to pay down the principal of the loan if you have the funds to do so.

What if my pay date is too soon?

In some cases, if the first due date occurs within ten days of the day you receive your funds; you may receive half off your first finance fee.

How much is the first finance fee?

The first finance fee is typically 33% of your principal loan amount.

That seems high. Why do you charge so much?

Our rates are highly competitive with other short-term lenders. This type of loan is intended for use for short periods when you need cash in a hurry and have no other means of obtaining credit or a loan. The fees are likely less than you would incur from bounced checks or by overdrawing your bank account. Our advances are also a safer alternative to loans that require collateral like car title loans or mortgage loans.

I have another question that hasn't been answered here.

Contact us anytime. We are happy to help answer any additional questions.