Fig Loans is a company that provides access to affordable financial products and was established by a couple of Wharton Business School graduates in 2015. They began the venture because they were frustrated with the non-availability of sufficient funding facilities to the entirety of borrowers. The Fig Loans installment loan is a feature they provide, which includes four-month installment short-term loans worth from $300 to $500. If the borrower is availing the loan for the first time, the annual percentage rate (APR) would be 176%–190%. The subsequent APR would depend on factors such as your creditworthiness, and many others.
In case you have already completed the initial loan, your APR will drop to around 20% when you take the next loan. For locations like Missouri, Texas, or Illinois, you can borrow a maximum of $500 on flexible terms. This would bring the option of no hidden fees and four-month repayment. Fig Loans installment loans range from $300 to $500 and are valid for 4 months. Fig loans do not charge origination fees. They also waive late payment fees and try to negotiate with the customer to find a convenient date. Loan applications are processed within a day and the company claims to offer solid assistance within as little time as a single business day.