Red Leaf Lending's

Guide to the Loan Process

What you need to know before submitting an online short term loan application.


What to expectAfter you submit your applicationBased on your information, if you pass our initial underwriting you may be conditionally approved for a loan. You will receive an email notification and one of our loan processors will try to contact you. They will want to verify some of the information that you submitted in your application such as your next two pay dates and your banking information.


What to expectAfter you have been approvedOnce all of the information is verified and it has been determined that you meet our qualifications for a loan we will begin the loan process by sending the approved funds to your bank account.


What to expectOn your due dateBased on your loan terms, you will pay back your loan plus a finance fee on your next pay date. We will automatically draw only the finance fee due on your next pay date. If you would like to pay down your loan, contact us three business days prior to your due date to let us know how much you would like to pay against your loan. You can login to your account to check your current loan balance and due date at any time.

Understanding your payment optionsPay in full on the due dateIf you pay off your entire principal and finance fee on your first due date then your loan will be paid in full. You will then be able to request a future loan faster by logging in to the Returning Customer page and re-submitting an application quickly.

Pay only the finance feeIf you choose not to pay off your loan in full on the next pay date, or you do not contact us to arrange a payment, we will process only the finance fee. Your loan principal will then roll over to your next pay date and a finance fee will be assessed.

Pay down a portion of your loanYou may choose to pay a portion of your principal plus the finance fee. On your due date, the scheduled payment will be withdrawn, and a finance fee will be applied to any remaining principal. You may call anytime to schedule your paydown, but in order for it to apply to the current cycle the request must be at least three business days before your due date.

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