The minimum initial loan amount is $300.00. The maximum loan amount is $1,000.00. Please note, first time borrowers may qualify for up to $1000.00.
Your first loan payment will most likely be due on your next pay date that falls at least five days away. If your next pay date is less than five days away, your due date will be on the following pay date.
The finance fee charged for your loan will be clearly disclosed to you in terms of the dollar amount of interest and the APR according to the principles of Federal Truth in Lending law and regulations. For details on the specific rates/fees of your loan, please see your loan agreement. Late fees and non-sufficient funds/returned item fees might apply as described in your loan agreement. To view examples of the total payments charged (finance fees) on different loans, visit our Sample Loan Table page.
Please Note: You always have the option to pay the loan off in full with no pre-payment penalty. In fact, Riverbend Finance, LLC encourages the accelerated reduction of loan principal to reduce the total number of payments made by the customer, thereby reducing the overall cost of credit.
Your loan payments are due on your following pay date, unless your pay date happens to fall on a weekend or holiday (your actual due date will be on the business day either before or after as you specified on your loan application). Note: We request that you notify us at least two (2) business days prior to your due date if you choose to change your payment amount. The installment payment per your schedule will be paid on the scheduled pay dates. After the schedule has been completed on time then your loan would be paid in full. You may be sent reminders via email outlining your due date options prior to your due date.
This is a term installment loan with approximate equal payments, but you have the right to prepay at any time. We strongly encourage principal reduction and early payment to reduce your finance charges.
Applications processed and approved before 5:00pm Mountain Time Monday - Friday are typically funded on the next business day. You can request same-day wire transfer up to 1:00pm Mountain Time Monday - Friday or next day wire transfer for loans processed on the weekends or bank holidays for an additional $10.00. Please verify with your bank as additional incoming wire fees may be assessed.
If a payment is not made by your due date, you will be subject to additional fees. If a payment is returned because there are non-sufficient funds, or your payment is dishonored by your financial institution for any reason, then you will be assessed an NSF fee of $30.00. If a payment is not paid within five (5) business days you will pay a late fee in an amount equal to 10% of the amount of the payment not paid in full.