FAQs

What are the smallest and largest loan amounts that you can take?
Our loans start at $200.00 and go up to $1,760.00.

Do you charge a Acquisition charge?
Yes, the State of Texas allows us to charge a 12% acquisition charge not to exceed $100 on our loans but we only charge 7.5%.

Are you Licensed by the State of Texas?
Yes, we are Licensed and Audited by the State of Texas.

What is the minimum and maximum APR?
At City Finance our minimum APR is 85.99 and our maximum is 108.14%.

How much interest do you charge each month and per every $100?
The interest on our loans are equal to $4 for each $100 borrowed each month. For Example: if you borrow $200 for 4 months. You will pay $4 x 2=$8 per month and times that by 4 months. So, $8 x 4 months= $32 in interest. Our APR for this loan is 108.14%. At City Finance our minimum APR is 85.99 and our maximum is 108.14%. Plus, the 7.5% acquisition charge of $15. Brings the total interest and fees come to $47 if you take the full 4 months to pay off your loan. Another Example: Our Biggest loan: For Example: if you borrow $1,760 for 14 months, our APR for this loan is 85.99% . The interest will cost for the 14 months= $985.50. Plus, the 7.5% acquisition charge of $100. Brings the total interest and fees to $1,085.50 if you take the full 14 months to pay off your loan. The State of Texas sets our interest.

Is there any penalty for paying off early?
There’s NO penalty for paying off early.

Is City Finance a Payday Loan Company and how many months do you have to payoff your loan?
Since we’re NOT a Payday loan company our minimum number of payments is 4 and our maximum number of payments is 14 months depending on the size of your loan. There is no penalty to pay off your account early.

Do I have to put up collateral to get a loan?
NO, All of our loans are unsecured.

Do I have to have a checking account to get a loan?
NO, you do not have to have a checking account.

Does City Finance report to any Credit Bureaus?
Yes, we report monthly to Experian.

Is City Finance a 3rd party lender or 1st party?
Here at City Finance we are a 1st party lender.