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Frequently Asked Questions

What is a FlexLoan?

The FlexLoan is a new type of loan introduced in 2012 and offered exclusively by American Web Loan - an industry leading online lender. The FlexLoan combines the fixed payment schedule of an installment loan with the lower interest-only regular payments available on most payday loans.

How does my FlexLoan work?

When you sign your FlexLoan agreement you will be presented with a payment schedule that allows for a maximum loan term of 16 payments. You may choose to pay your loan back over these 16 payments or at any time earlier, and you only pay interest for as long you as you choose to keep your loan. To save on interest we encourage you to pay your loan back as quickly as possible.

What's the catch?

There isn’t any! You simply login into your account on our website and tell us what you would like to pay at least 3 business days prior to your payment due date(s). If we do not receive permission from you to draft a larger amount than your minimum payment, we simply draft your account pursuant to your FlexLoan payment schedule in your loan agreement.

What do I need to qualify?

It’s easy to qualify for a loan!  In order to qualify with AWL you must be at least 18 years of age, own a checking account in which your income is deposited via direct deposit, have an income of at least $1,600 per month and have internet access.

What if I have bad or no credit?

With American Web Loan, you may be able to qualify for a loan with bad credit, or even no credit at all. If you have a few negative entries on your credit report, don't worry- many people have things like late payments, missed payments, or even bankruptcy on their credit reports.

To see if you qualify, simply fill out our online application form. Once we verify your personal information, you may be approved for a cash advance in a matter of minutes!

What happens to my application after I fill it out?

Our application process is fast, secure and available online!  First we look over your information and verify your employment by phone. If you are unemployed you will need to contact us to verify your current income. After we verify your employment and/or income we will call you to verify the information on your application, and we will also review the terms of your loan. Upon approval of your loan, we will send you a copy of your signed loan agreement.

If we receive your signed loan agreement and disclosure statement before 12:00 PM CST, your funds may be available later that same day! If we receive your signed loan agreement and disclosure statement between noon and 5:00 PM CST, your cash advance will be deposited into your checking account the next business day.

After 5:00 PM CST, it may require another business day to deposit the funds into your account. We can't make deposits on holidays or weekends, but we will make sure your money gets to you as soon as possible.

Do I need to fax anything?

Most customers won’t need to fax us anything. In some cases we may need to obtain proof of income. These documents can be faxed to Customer Service at 877-636-1353.

What happens if I pay my loan early?

Great! If you want to pay your loan in full prior to your scheduled due date, simply pay the full amount with a debit card on our website. You may be entitled to a prorated or reduced fee with your early pay off!

What are your customer service hours?

The hours of operation for our customer service department are from 7:00 AM to 8:00 PM CST Monday - Friday, and 7:00 AM to 8:00 PM Saturday.

How much will the loan end up costing?

That depends on the amount of your loan- our finance charge is based on the amount you choose to borrow. At AWL, we fully comply with the Truth in Lending Act (which is available in full text on the FDIC government website).

Your finance charge and APR will be fully disclosed to you on your loan agreement. To learn more, talk to one of our friendly lending agents at 877-636-1353. Please refer to the FDIC Truth in Lending Act.

How long will it take for me to receive my cash advance deposit?

At American Web Loan, we want to make sure you receive your funds as quickly as possible. If you selected a wire transfer, your cash will be available Monday-Friday within 24 hours. If you selected ACH funding, your cash will be available Monday-Friday within 24- 48 hours.

If your loan application is received after 2:00 PM CST, the wire transfer will take place on the next business day. For loans up to $700, there will be a wire transfer fee of $10- for all other loans there are no wire transfer fees.

If we do not receive your signed cash agreement and disclosure statement by 5:00 PM CST, the money will be deposited within 2 business days. AWL can't make deposits on holidays or weekends. Click here for a list of bank holidays.

How long do I have after receiving my loan to request a rescission?

To request a rescission, please contact one of our customer service representatives at 877-636-1353. Requests must be received by 5:00 PM CST the next business day after receiving your cash advance.

Can I manage my account online?

Yes! All you need to do is create an account with americanwebloan.com and log in. Once you're logged in, you can manage your loan directly at our website! If you have questions about managing your loan online, please call customer service at 877-636-1353 between 7:00 AM to 8:00 PM CST Monday - Friday, and 7:00 AM to 8:00 PM Saturday.

I searched for American Web Loan on Google, and a different site came up! Do you have more than one website?

No, we don't. Recently, some nefarious online companies have been using a variety of dishonest business practices and using false variations of our company's name. By using different variations of the name American Web Loan, these companies can appear in search results and will try to direct you to a phony website pretending to be our company.

We are aware of the existence of these companies, and are taking every step we can to stop their deceitful practices. Don't get scammed- make sure you see the official American Web Loan logo on the website! If you have recently searched for American Web Loan and were directed to a suspicious website, please contact us. Give us a call at 877-636-1353, or send us an email at moc.naolbewnacirema@ecivresremotsuc.

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