Frequently Asked Questions

Read Through Our Frequently Asked Questions

What exactly is a personal installment loan?

Time Finance Company Inc. is a finance company that offers personal installment loans (typically between $150.00-$1,460.00) that is paid back in equal monthly amounts over the life of the loan with accumulating interest. Monthly payments are one benefit of personal installment loans because it allows you to plan the payments into your monthly budget.

A personal loan is an alternative solution to pay for the unexpected expenses – from medical bills, auto repairs, home improvements, school supplies, college expenses, vacations and unexpected seasonal expenses. A personal loan from Time Finance offers fixed rates and monthly payments. Rates are based on Texas state regulations. The loan amount is based on various factors including your personal credit history, your personal income and other personal financial commitments.

What is an Installment Loan?

An installment loan is simply another version of a personal loan.

What is a Signature Loan?

A signature loan is a loan that uses only the borrower’s signature as a promise to pay. No collateral required. Your credit history and income will be used to determine eligibility.

Is Time Finance a Payday Loan Company?

No. Time Finance offers loans that can be paid back over time, and we offer lower interest rates than payday loan companies. Our loans are meant to help borrowers through unexpected expenses, not trap them in a cycle of borrowing. Our loan repayment range from 2 to 12 months depending on the size of your loan.

Can I pay off my loan early?

Absolutely! There is no penalty for paying your loan off early.

When will my loan be fully paid off?

Because we tailor each loan to our customers, payments change based on the amount borrowed, the monthly payment amount, and the interest rate — although repayment timelines typically fall between 2 to 12 months. When you’re approved, one of our team members will work with you to create a personalized repayment timeline.

How do I pay my loan back?

At Time Finance Company Inc., we know one loan doesn’t fit all, so we’ll work with you to create monthly repayments that work with your budget.

How is My Interest Rate Calculated?

Several things are taken into consideration including the loan amount and your creditworthiness.

Do I have to have a checking account to get a loan?

No, you do not have to have a checking account.

Do I have to put up collateral to get a loan?

No, all of our loans are unsecured.

Does Time Finance Company report to any Credit Bureaus?

Yes, we report monthly to Experian. Taking out a personal loan can also help you build your credit score. Because Time Finance Company, Inc. reports payment behavior to the credit bureau, making on-time payments and fully paying off your loan can boost your credit score, making it easier to qualify for lower interest rates on larger loans. A personal installment loan could be a great place to start building up your credit score.

Do you charge an Acquisition charge?

Yes, the State of Texas allows us to charge a 10% acquisition charge not to exceed $100 on our loans.