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Please read the following terms and conditions carefully before submitting your application. By submitting this application, you acknowledge that you have read, understand, and accept the terms and conditions set forth below. You also acknowledge that submitting this application does not constitute an agreement to lend you money. Any loan agreement will only come into effect once the loan is disbursed to you.
SoonLoan loans are personal loans made by SoonLoan LLC, a New Jersey licensed limited liability company licensed pursuant to Utah law. All loans provided by SoonLoan are subject to approval based on individual circumstances and adherence to underwriting guidelines and SoonLoan reserves the right to accept or reject your application for credit at its sole discretion. The amount, term, and APR of any loan will depend on various factors such as your credit score, income, credit history, debt payment obligations, and other relevant considerations. If your loan application is approved, you will receive a loan agreement that outlines specific terms and conditions. The availability of funds for your loan may vary depending on your bank's policies. SoonLoan may sell, assign, or transfer ownership of your loan to another party after the loan is funded, but you will be notified if such a sale, assignment, or transfer occurs. You have the option to repay the loan at any time without any penalty.
By submitting your application, you confirm that the information provided is true and accurate to the best of your knowledge. You also authorize SoonLoan to verify the authenticity and accuracy of all information supplied by you, both internally and with the assistance of non-affiliated third parties. SoonLoan may also verify any income information provided by you. In all cases, SoonLoan may disclose that you have applied for credit.To process your loan application, you are giving SoonLoan and its agents permission to obtain a consumer credit report. This applies to your initial loan application as well as any updates, renewals, or extensions related to your loan. If you request it, you will be informed whether a report was obtained, and if so, the name and address of the agency that provided it. You also understand and agree that SoonLoan or its agents may obtain a consumer credit report in connection with the review or collection of any loan made to you because of your loan application, or for other legitimate purposes related to such loan. Your authorization to obtain consumer reports from credit reporting agencies is valid if there are outstanding amounts owed on your loan.
If you are a member of the active military, or a spouse or dependent of a member of the active military, and your loan is subject to the provisions of the Military Lending Act (“MLA”), the following apply. (The federal government requires us to provide this notice to you. However, we do not assess any of the fees referenced in this notice):
Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 35.99 percent. This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Payments are a function of the amount you borrow and the applicable interest rate. Please refer to your Approval Disclosure for information regarding your monthly payments for this loan.
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