How It works
We offer a totally new way of borrowing. The short-term loans application process is a three step process.
Go online to www.workplacecredit.com and create a login for yourself after inputting the necessary information details ( full name, phone number, email address etc).
Please note that if you are a USPS employee or a public sector employee, no employer code is necessary to create a login.
Indicate the loan preference of your choice after login. Our proprietary affordability model is designed to help you borrow only the amount you can pay back.
You will receive an email regarding your potential approval for the loan program shortly after once you have completed the application process.
Please note that you will need to have a valid U.S. bank account to receive funds upon loan request approval.
Upon completion of the loan agreement, the funds will be deposited in your bank account within 1-2 business days.
Please note that in case of any concern or questions you can reach out to WorkPlaceCredit via email or phone anytime during the application process. Click here to reach us via email.
A short-term loan is a type of personal loan. People usually obtain these to support a temporary personal (or business) need.
Short-term loans are typically for smaller dollar amounts.
The amount borrowed and the interest are paid back in a year or less.
They are usually unsecured loans, meaning you will not have to provide collateral on the loan, such as your car or house.
Short-term loans are a reasonable option for people who suddenly find themselves facing an unexpected expense that they cannot afford, such as a home repair, automobile repair, healthcare bills, and other cash-flow shortages.
These loans are best when you need money fast. Short-term loans assist those who have a need to secure funds quickly.
There are a few different types of short-term loans. The most prominent short-term loans you will find today are doorstep loans, payday loans, and installment loans. Please note a 4% origination fee will be charged with each installment loan1.
After completing an application for a doorstep loan, and you have been approved for the loan, an Agent will come to your house to talk about the loan and perform an assessment of affordability.
This will help them to understand whether or not you can be able to repay the amount you have applied for.
If you are approved after the Agent has done their assessment, you will receive the funds and begin repayment.
This is an installment loan1, so payments will be on a regular basis with a fixed interest rate.
Payday loans are short-term, instant loans. They are often for smaller amounts of money, such as $500 or less.
Interest rates on these loans are usually very high, because of the short amount of time for repayment.
Typically, payday loans are easy to obtain. They are usually paid back in one lump sum, including interest and fees, when the borrower receives their paycheck.
Online Installment Loan
With this type of personal loan, everything is done online. From the application process, to approval, to receiving funds and repayment, it is all done over the internet.
Payments on these loans are usually made over several months, but typically no longer than a year.
Online installment loans can disburse funds into your bank account. Sometimes distribution takes minutes, and sometimes it can take 1-2 days.
Why Partner With WorkPlaceCredit® for Your Short-Term Loans?
Securing short-term loans can be easy and fast.
But it is important to realize that some online short-term loan companies will ask for repayment quickly too.
A tight payment deadline and high interest rates from these companies can make it an expensive and risky way to borrow money.
And if a payment is late, or missed, they may charge unreasonably high fees.
At WorkPlaceCredit®, we don’t believe in charging exorbitant interest rates and putting our borrowers into more of a tough spot than they were in to begin with.
We at WorkPlaceCredit® therefore want to lend responsibly and fairly to customers with a stable income stream and offer access to affordable credit even if they have a bad credit history.
If you are considering a short-term loan, come to us and discover how easy and affordable obtaining a short-term loan can be.
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- Here is an example of the specific rates and fees that would apply to your loan with WorkPlaceCredit®: If you are requesting a loan of $3000, an origination fee of $120 (4%) will be added to your loan amount. The total amount of your loan would be $3120 which is financed at an interest rate of 20.99% and 25.18% APR. Should your chosen time frame for repayment be two years, your payments of $73.71 would be scheduled over 52 bi-weekly installments over the next 2 years.
- A $500 Emergency loan of $500 at 22.55% APR, you will make 11 bi-weekly payments over 5 months of $48.18. Your actual payment will vary based on the payment frequency and term of your loan offer.
Payroll deduction is not a condition for approving the loan.