FAQ How can we help?

A few frequently asked questions

Is this a "payday" loan?

No, this is not a payday loan. Payday loans need to be paid in full on your next pay date. Our loans are installment loans meaning payments are spread out over 6, 9 or 12 months. However, we do encourage you to pay off your loan as quickly as possible to save on interest.

How does an installment loan work?

An installment loan has fixed payment amounts and a fixed number of payments. Therefore, the loan will be paid in full after the last payment as long as no payments are. When you sign your loan agreement, you will be presented with the payment schedule based on the loan term you selected. However, we encourage you to pay off the loan as quickly as possible to save on interest.

What's the catch?

There isn't any! If approved, you'll be asked to review and accept the loan terms by electronic signature before we can send the funds. Your finance charge and APR will be fully disclosed to you in your loan agreement. We want you to know every detail of the loan before committing yourself to it.

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.

To see if you qualify, simply fill out our online application form. Once we verify your personal information and you meet our underwriting requirements, you may be approved for an installment loan in a matter of minutes! There's no risk to you! Apply NOW to see if you qualify.

How long will it take to receive my funds?

At American Web Loan, we want to make sure you receive your funds as quickly as possible after you've been approved so we offer three delivery options:

Wire Transfers: Loans finalized prior to 2:35 p.m. CST (Mon-Fri) should post to the account same business day. Loans processed after this time should post to the account next business day.

Direct Deposit: Loans finalized prior to 12:00 p.m. CST (Mon-Fri) have the possibility of posting to the account same day. All loans finalized after this time will most likely post to the account by the end of next business day. (Deposits may take up to 48 hours depending on your bank). AWL can't make deposits on holidays or weekends.

Paper Check: Your paper check will typically arrive at your address on file via USPS shipping within 7-10 business days.

(Note: You must review and accept the loan terms by electronic signature before we can send the funds. Your finance charge and APR will be fully disclosed to you in your loan agreement.)

Do I need to send you anything?

Most customers won't need to send us anything. However, we may need proof of income in some cases. These documents can be submitted via email to alsverification@americanwebloan.com or faxed to 877-860-7171.

What happens if I pay my loan early?

You save money! We never charge any prepayment penalties, so paying your loan off early is a great way for you to save money on interest. For this reason, we encourage you to pay off your loan as quickly as possible.

How much will the loan end up costing?

The total cost differs for every loan. Our finance charge is based on your creditworthiness, our proprietary scoring method, the amount you chose to borrow and the length of time you chose to keep your loan outstanding. Your finance charge and APR will be fully disclosed to you in your loan agreement. Apply today to see if you're qualified, speak to one of our loan agents and review your loan agreement for your specific costs. There's no risk in applying! Apply NOW to see what you qualify for.

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 1-877-860-7171. Requests must be received by 5:00 PM CST by the second business day after receiving your funds. If it is after the second business day, you can still pay the loan in full and only accrue interest for the days you had the loan. Remember there is no prepayment penalty!

What are your business hours?

Don't have a loan yet? Going through the application process?

The hours of operation for our lending department are from 6am - 11pm CST Monday through Friday, 6am - 8pm CST Saturday, and 8am - 8pm CST Sunday.

Have an open loan with us?

The hours of operation for our customer service department are from 7am - 8pm CST Monday through Friday, 7am - 4pm CST Saturday, and closed on Sunday.

How can I manage my account?

You can now manage your account from the palm of your hand! Simply download the new AWL Mobile App from the app store and login. If you prefer to manage your account online, go to MyAccount.AmericanWebLoan.com. Have questions about managing your loan? Please call customer service at 877-860-7171 between 7:00 AM to 8:00 PM CST Monday through Friday, and 7:00 AM to 8:00 PM Saturday.

How do I get the AWL Mobile App?

Download the free AWL Mobile App to your iPhone or Android smartphones by going to your app store and searching for "AWL Mobile". For more information, or to receive a direct download link to the app, go to americanwebloan.com/awl-mobile-app. Once logged into the app, you can check your balance, make payments, request a new loan, review and update your account information.

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 online companies have been using dishonest business practices including false variations of our company's name. By doing so, these companies can appear in search results and will try to direct you to a phony website pretending to be American Web Loan.

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 are on the official www.AmericanWebLoan.com website only!

If you have recently searched for American Web Loan and were directed to a suspicious website, please contact us. Give us a call at 1-877-860-7171, or send us an email at customercare@americanwebloan.com.

How often will my account be charged?

The pay frequency is based on whenever you get paid. The options for pay frequency are monthly, semi-monthly, bi-monthly and weekly.

What is the interest rate on a loan?

The interest rate differs for every loan. Our finance charge is based on your creditworthiness, our proprietary scoring method, the amount you chose to borrow and the length of time you chose to keep your loan outstanding. Your finance charge and APR will be fully disclosed to you on your loan agreement. Apply today to see if you're qualified, speak to one of our loan agents and review your loan agreement for your specific interest rates. There's no risk in applying! Apply NOW to see what you qualify for.

Why did you draft my payment a day early?

This may occur if you chose to make semi-monthly payments and your pay date falls on a weekend or holiday. We do this to ensure repayment is not delayed. This also means that less interest accrues between payments, which can pay down your loan faster.

Why do I owe more than I borrowed?

As with all loans, credit cards and similar financial products, interest accrues on your principal balance. This can be viewed on your loan term agreement that you e-signed.

I want to pay my loan off today why can't you do same day payments through ACH?

ACH payments must be scheduled at least 2 business days before the debit date. However, validated debit card payments are effective the same day.

How do I stop the payments from drafting from my bank account?

Payments are fixed once the loan is approved. You can change the account your payments come out of by calling our Customer Service Department at 1-877-860-7171 and one of our agents will assist you. If you're struggling to make these payments, you may also call us so we can review your options with you.

When can I apply for a new loan?

Once your current balance is paid off, you may reapply the following day for a new loan.

Why don't you take credit card payments?

As a best practice, we choose not to pay credit with credit. However, we do accept a range of debit cards that allow for real time payments.

What can I do if I cannot make my payment on time?

We do have multiple options to assist with payment hardships depending on your payment history. Please call us at 1-877-860-7171 to speak with an agent about your options.

Why does the automated system give me 2 different numbers when I call in? (principal balance and payoff balance)

The principal is the outstanding balance on the loan that you still owe. The payoff balance is the principal balance plus any interest and late fees (if applicable).

Will this loan affect my credit?

We do not report to Transunion, Equifax or Experian so this loan will not help or harm your credit score. However, we share nonpayment and default information with alternative reporting agencies, which can impact credit.

Where can I find my contract/copy of Terms and Conditions?

You can find these documents in your account at MyAccount.AmericanWebLoan.com or our AWL mobile app. If you're having trouble locating them, simply contact us at 1-877-860-7171 and an agent can have a copy emailed to you.

What states do you service?

Loans are available in all states except Arkansas, Connecticut, Georgia, New York and Washington.

Can I have two loans at once?

Unfortunately, our customers are only allowed to have one loan at a time with us. Once your current balance is paid off, you may reapply the following day for a new loan.

I haven't paid my loan off yet but I'm in need of additional funds. Can I take out a 2nd loan with you?

Unfortunately, our customers are only allowed to have one loan at a time with us. Once your current balance is paid off, you may reapply the following day for a new loan.

I can no longer afford my payment, can it be reduced?

Payments are fixed once the loan is approved. If you're struggling to make these payments, please call us at 1-877-860-7171 so we can review your options with you.

I changed jobs, can I update my due dates?

Yes, you can. Simply contact us at 1-877-860-7171 and we'll transfer you to our Pay Frequency team to update this information.

How do I change my bank information?

You can change the account your payments come out of by calling our Customer Service Department at 1-877-860-7171 and one of our agents will assist you with this task.