Borrowers Frequently Asked Questions

Have a question? Check out our frequently asked questions below.

  • What is the “ZIP” loan?

    LendingUSA’s “Zero Interest on Principal,” or ZIP loan, was designed to give you flexibility with your loan payment, allowing you to pay it off early with no penalty. By repaying your loan amount in full within the first 6 months of your disbursement date, you will pay no interest that has accrued during that 6 month period. You will only be responsible for the payment of the amount financed and the loan origination fee.

  • What is an “origination fee”?

    The origination fee is included with every loan, and is a small surcharge that covers the cost of processing, underwriting, approving and funding your loan. It is included on top of your loan and does not affect the original amount you were financed.

  • How much is the origination fee?

    The origination fee is an 8% non-refundable prepaid finance charge which does not take away funds from your amount financed, and is included as part of your monthly payment. The exact dollar amount is listed in your loan documents.

  • Why was my application denied after I was told I was approved?

    Your initial application consists of a “soft” credit pull, which allows us to provide you with a fast pre-approval decision that won’t impact your credit score. Following pre-approval, your application may later be denied during our underwriting and quality assurance process, which includes income verification checks and other steps.

For Merchants

Learn how we can help you increase revenue and get paid faster than before.

Free Demo

For Borrowers

Get the goods and services you want with our easy payment options.

Check Your Rate
Simple Share Buttons