FAQ’s & Tips

+ Can I pay my loan off early?
Yes, we do not charge a prepayment penalty, and if you do pay early, the amount of interest owed may actually decrease!
+ How much interest am I being charged?

Your actual Annual Percentage Rate (APR) will be clearly disclosed on your Loan Agreement and will depend on when you begin and finish repaying your loan.

Please see our Fee Schedule for sample APR’s or contact us for a detailed quote based on your specific needs.

+ May I cancel this loan if I decide against it?
Yes, if you notify us by 5:00 pm Mountain Time within one business day of funding, and remit the funds advanced to Loans Not Sharks we will cancel your loan.
+ If I don’t have enough money in my account to cover the upcoming loan payment, what should I do?
First – you should LET US KNOW AHEAD OF TIME! This will save both you and Loans Not Sharks some time and expense and will be appreciated! You may apply for an extension by contacting us at 1-844-267-9096 at least 48 hours prior to your scheduled payment date. At a minimum, you will be required to pay the interest due on the payment date, and we encourage you to pay whatever you can toward reducing your principal loan balance. Reducing principal reduces the amount of interest due over the course of the loan and will save you money in the long run.
+ How long can my loan be?
The term of your installment loan is amortized and typically paid back from 90 to 120 days (Depending on your pay dates).
+ Where can I see a fee schedule?
Right here:
Fee Schedule

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