FAQs

Do you charge a Acquisition charge?
Yes, the State of Texas allows us to charge a 10% acquisition charge not to exceed $100 on our loans but we charge 5%.

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

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 97.03%. At City Finance our APR ranges from 85 to 97.03%. Plus, the 5% acquisition charge of $10. Brings the total interest and fees come to $42 if you take the full 4 months to payoff 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 loans range from 4 to 13 months depending on the size of your loan.

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.