FAQ

What type of loans do you make?

We provide our customers with traditional installment loans for a variety of personal needs. Our loans do not have balloon payments, are not payday loans, and we don’t make title pawns. We offer loans with regularly scheduled equal monthly payments. Coastal Finance Company is a member of the Georgia Installment Lenders Association.

How much can I borrow?

Up to $5000.00 with approved credit.

Is collateral required?

Collateral in the form of personal property is generally required for loans up to $1000.00. Loans for more than $1000.00 are secured.

What information do I need to apply?

You will need to supply information on your current and possibly previous residence, your employment history and/or information on sources of income that you will use to repay the loan, your social security number, and your monthly expense items. As part of the application process, you must authorize us to obtain a credit bureau report to further assess credit and payment history. When an application is approved, the branch personnel will let you know of any additional items that will be needed.

Can I pay my loan off early?

Yes, you can pay your loan off early without a prepayment penalty.

What credit score is required?

Each person obtaining a loan must qualify for credit based on our credit underwriting policies. A high score or perfect credit is not necessarily required because of the other factors that are considered when determining loan amounts.

Do you report to the credit bureaus?

We report all credit transactions once a month to Equifax. Consumers can go to www.annualcreditreport.com to receive reports annually at no charge.

What payment methods are accepted?

We accept cash, check, money order, cashier’s check, debit and credit card payments. Payments can be made by phone or dropped off after hours.

What is a renewal?

A renewal, sometimes referred to as refinancing, is when you obtain another loan that pays off the balance of your existing loan and gives the remaining net proceeds to you. This second loan has charges associated with it which will be disclosed on the note. You will need to determine if the cost of the second loan makes financial sense for your situation.

What should I know about making payments?

Payments are due on or before the due date. Coastal Finance Company does not have a grace period. Late fees may apply to payments made after the due date. In the event of an unexpected problem, it’s important to contact the office to find a mutually beneficial solution.

Other terms as required