How does National Small Loan obtain applications?

National Small Loan receives applications directly on our website, direct mailings, and from many returning customers. We also obtain many applications from affiliates and partners that work to match up consumers with the best lenders for their needs. Because of this exchange, many new customers are surprised when they see incoming messages from National Small Loan. We know this can seem scary at first, but rest assured, if you applied with one of our affiliates, that’s how we received your application. If you received a communication from us and never applied for a loan at all, please let us know and we will work diligently with you to get to resolve the issue in a timely manner.

What is a payday loan?

When you get a payday loan, you are advanced a certain amount of money based on your payday. On payday, your balance is due. Payday loans are great for people in need of quick cash because they are so convenient, but it is easy to get stuck paying the fees over a long period of time making them an expensive solution. At National Small Loan, we provide installment loans.

What is an installment loan?

Installment loans are a little different than payday loans in that when you borrow, you agree to a set payment plan.  You’ll make regular payments on that loan until your balance, and any fees, are repaid.  The way it works is no different from the safe, established payment schedule you get with a car loan or a mortgage through a bank except that with installment loans, you’re usually working with a much smaller sum of money.

What makes NSL Installment Loans different?

With our installment loan, the customized payment schedule allows you to borrow exactly what you need and pay back over time but with more options than a traditional bank loan, installment loan, or even a payday loan.  There is a longer period for repayment than is offered by payday loans, and you can make additional payments or even choose to pay the loan off in full without any penalties.

What do I need to qualify for an installment loan?

It’s pretty easy to qualify for a loan with National Small Loan; you just need to meet these requirements:

1) You have to be a U.S. citizen at least 18 years of age.

2) You must have a form of income, either a job or income from third party sources.

3) You must have an active bank account.

Will bad credit hurt my chances of being approved?

National Small Loan does not typically utilize the major credit bureaus (Equifax, Experian, TransUnion) in our decisioning processes. However, we do verify applicant information through a number of national databases and alternative credit bureaus in our underwriting procedures.

How do I sign my loan agreement, or contract?

When you submit your application, you should see the loan agreement, or contract, pop up within a few moments. It’s always a good idea to read through your loan agreement carefully first, but when you are ready sign, we’ve made it easier than ever. Customers sign the loan agreement by answering a couple of questions and checking disclaimer acknowledgements and then clicking a button that says “I Agree”. This saves the signature to the contract and records the IP address for security and verification purposes.

Remember, an electronic or digital signature is just as legally binding as a handwritten signature.

Will bad credit hurt my chances of being approved?

National Small Loan does not utilize the major credit bureaus (Equifax, Experian, TransUnion) in our decisioning processes.  However, we do verify applicant information through a number of national databases in our underwriting procedures.

When will I receive my loan?

Most loans are received within 24 business hours via direct deposit into your designated bank account. Times may vary based on your specific banking requirements.

Why do you need my bank account information?

We need to set up your banking information so we can deposit your loan directly into your account.  National Small Loan does this because it the fastest way to get your money to you — usually within 24 business hours! You can use your bank information to make easy payments or you may make non-ACH payments through a variety of methods. The choice is yours. And, if you ever need to opt out of paying via ACH, it’s easy to switch methods, just contact us!

Is my information confidential?

Yes! Because National Small Loan is a direct lender, not a loan broker, your information remains secure and confidential.  We never sell or share your application information with anyone, unless you’ve opted in for us to refer you to our affiliates.  When you apply for an installment loan, your personal information stays safe and private.  For more information, please review our Privacy Policy.

How do I know I’m approved? How long does approval take?

We process our loan applications pretty quickly, so as long as you’ve applied with us during business hours, you’ll be notified usually within minutes.  We notify our customers as to their final status through phone calls, emails, and text messages (for those that have opted-in.)

What’s your cancellation policy?

Though we would hate to see you go, we understand that sometimes people change their minds!  If your application is still pending, simply shoot us an email to let us know that you prefer to cancel – and let us know why!  We’ll gladly honor your request.

If we’ve already approved your loan application, you must let us know that you wish to cancel within one business day (24 business hours) in writing.  Once we receive your cancellation request, we’ll immediately process a debit to recover the loan amount we deposited into your bank account.  If we haven’t already made the deposit, we will not debit your account.

Remember, if you do not let us know that you wish to cancel within this time frame, you will be financially responsible for the loan.

When will my payment be due?

Each loan is unique, and a repayment schedule will be set up based on your pay date schedule and loan amount.  National Small Loan puts customers first, and will generate a repayment schedule based on your application.

How much money can I borrow?

If this is your first loan with us, you may qualify for between $100 and $500. Returning customers that remain in good standing with us can qualify for even more, usually as much as $1,200.

How do I repay my loan?

Unlike traditional lenders, National Small Loan gives you the flexibility to pay your loan over several installments or in a single payment, if you prefer.  You can make extra payments to get your balance paid off even faster, or pay off the entire loan at any time.  We offer a variety of payment solutions ranging from EFT and ACH to card payments and money orders. Just remember, if you opt for a non-ACH payment method, your payment must reach our offices by your due date; otherwise you may be subject to collections activity. To discuss making a payment or an alternate payment method, please give us a call or email us anytime!

What do I do if I don’t have enough money to pay you back?

Sometimes, things come up that make it hard for customers to make their scheduled payments.  We get it.  But, it’s always better to reach out to us before your scheduled due date and discuss your situation rather than to let your payment be unsuccessful.’s representatives are trained to assist customers in such matters and are happy to do so!

Don’t forget: the deadline to reach us regarding an upcoming payment is 2:00 PM EST the business day before you are due!

Can I have more than one loan at a time?

At this time, National Small Loan customers may only have one outstanding loan with us at a time.  But, after your loan has been paid in full, you can always reapply with us!

How do I contact National Small Loan?

Just visit our Contact Us page!  And remember, we answer all emails in the order in which they are received during business hours!