FAQs | Ascend Loans - Ascend Loans

How much can I borrow?

We consider a lot more than your credit score when determining what amount you qualify to borrow. The amount approved will be right-sized to what you can repay.

Once you submit your application, it just takes a few minutes to find out what loan amount you are eligible to receive. The maximum loan amount we offer to a new customer is $1,000. The Emerald Rewards Program maximum loan amount is $2,000. See Emerald Rewards for details.

Your traditional credit score with the “big three” will not change just because you submitted an application.

Can I get a loan with bad credit?

Worried about your credit score when you need a loan? We aren’t. We run a credit check with the specialized credit bureaus, and not the major bureaus used by the banks. Your traditional credit score with the “big three” is not something we use to make a loan decision.

Can I get a loan with no credit?

We define “credit history” a bit differently at Ascend Loans. We don’t rely on just the information from the three major credit bureaus, which is where most banks, credit unions, and other lenders look for your credit history.

So, yes, we make loans to people with “no credit history” if you are thinking about it in a banker-speak way.

We know there are more good things we can look at along your path to financial independence. Having a mobile phone account, paying your rent, and more real life situations like these are considered credit history with us.

Will my credit score change if I apply for a loan?

Because we approach lending decisions differently, we don’t do a credit check with any of the three major credit bureaus. (The three major bureaus are the ones that calculate your credit score.) So, your credit score with them should not be impacted by applying for a loan with Ascend Loans.

We may use alternative sources to verify your identity and/or if you are under active military status. Some of these sources may use information obtained through the major credit bureaus. When they do, our check for your application may show up as a soft inquiry on your credit report. But, soft inquiries are not a factor that the major credit bureaus use to calculate your credit score.

Simply put, the answer is no.

What are the minimum requirements to qualify for a loan?

As responsible lenders, we ask that you have a consistent source of income, meet all legal requirements to enter into a contract, have an open an active checking account, and meet the Ascend Loans underwriting requirements. Also, your source of income needs to be one that we can verify, if needed.

What is Instant Bank Verification?

Instant Bank Verification (IBV) is a safe and secure process that allows us to verify your checking account. We only get one-time, temporary access so we can look at your bank statements. It will not allow us to access, withdraw, credit or transfer funds from your account. If you do not agree to IBV or if your bank does not support IBV, we will need you to call us so we can contact your bank with you to do the verification.

What to Expect

How much does it cost?

Journey over to our New Customer Loans page for an example of the cost of an Ascend Loan.

What is an Annual Percentage Rate or APR?

It is NOT your interest rate. The annual percentage rate, or APR for short, is your total cost of credit on a loan. It is all the interest you will pay in a year (or the term of your loan if less than a year) plus any fees associated with getting the loan. Those fees don’t include ones you might incur along the way like late payment fees, or processing fees if you opt to pay by check. The fees in your APR are ones charged at the time your loan is made. Some lenders charge application fees, origination fees, etc. Those fees are added to the total interest. Then that total is divided by the amount you borrow (the principal) to calculate the APR. By law, all lenders must disclose the APR in the loan agreement. You should look at the APR when you compare one loan to another as it reflects the true cost of credit.

How do you get my loan funds to me?

When you get a loan from Ascend Loans the amount you borrow (the principal) is sent directly to your checking account using electronic funding via your debit card or by ACH. With ACH, you typically will receive your funds the next business day after you sign your loan agreement, provided that day is not a bank holiday. If your application is approved, you may receive your funds as soon as today after you sign your loan agreement.

What is ACH?

ACH is short for the Automated Clearing House network, and is a fast and secure way to send and receive money. Sometimes you hear this process referred to as direct deposit.

If I sign up for auto-pay, do I get any kind of discount?

Of course! During the loan origination process, you will have the option to enroll in Auto-Pay. By doing so you are allowing Ascend Loans to debit your payment from your checking account electronically on your due date. In return, we reduce your interest rate by 25 percentage points. See how this works by trekking over to our New Customer Loans page.

May I increase my loan amount?

Your loan amount is right-sized so that you are able to repay it as agreed. Once you repay your current loan, if you need a loan in the future, you may qualify for more funds and a discounted rate. See our Emerald Rewards Program page for more details.

How do I refinance my loan with Ascend Loans?

Today, we do not offer a refinance product. It is something we are considering for the future. Until then, if you have a concern about your current loan or making your payments, please call or email us to discuss any options available to you. Find our contact information here.

Managing Your Loan

How can I lower my cost?

We make it easy to reduce the amount you pay in interest.

Sign-up for auto-pay when you apply for your loan allowing us to debit your payment from your checking account each scheduled payment, and we will discount your interest rate by 25 percentage points.

You may also make additional payments to your loan or even pay your loan off early without a penalty. Either will lessen the amount of interest that accrues and is due on your loan. Click My Account to login and schedule your pay off or to make an extra payment at any time. It is safe, secure, and simple.

Is there a penalty for paying my loan off early?

No. We actually encourage you to pay your loan early so you reduce the amount of interest you pay. Please click My Account to login and schedule your pay off. It is safe, secure, and simple.

My payment is due on a weekend or a banking holiday. What happens?

Any auto-pay drafts for a payment due on a Saturday, Sunday, or banking holiday will be debited on the prior business day.

What if I cannot make my next payment?

Please contact us at least 3 business days prior to your next payment due date to discuss your options. Our contact information is: customerservice@ascendloans.com, or 1-888-512-7236. Non-payment of your loan could result in additional fees and collection activities.

How do I cancel my loan?

You have until 3:00 p.m. pacific time on the business day following the Disbursement Date listed on your Loan Agreement to cancel your loan without any cost or penalty. We call this day and time your Cancellation Deadline. To cancel your payment obligations on this loan, you must email us by or before the Cancellation Deadline at customerservice@ascendloans.com. In your email you must say that you want to cancel the future payment obligations on this loan. Your right to cancel your loan only applies if your loan either has not funded or, if it has, the funds are returned to us. If your loan was already funded and we receive the full amount of the principal amount via ACH debit, then both your and our obligations under this Loan Agreement will be rescinded. If we do not receive payment of the principal amount by ACH debit to your checking account, then this Loan Agreement will remain in full force and effect.

How do I get my balance?

Once we fund your loan, you can find this information in your Ascend Loans Self-Service Portal – click My Account to login. If your account is in good standing, you’ll see your balance and next payment information, and you can schedule an additional payment or a payoff. For all other inquiries please email us at customerservice@ascendloans.com, call us at 1-888-512-7236, or use the chat feature on this page.

Where can I access a copy of my Loan Agreement?

After funding, you can access and download a copy of your loan agreement at any time in your Ascend Loans Self-Service Portal – click My Account to login. You will see a link to your loan documents. After you click that link, you will be able to download those documents.

Emerald Rewards for Returning Customers

Does Ascend Loans offer any discounts or benefits if I borrow again?

Yes! We designed our Emerald Rewards program to reward returning customers who pay back their new customer loan on good terms. If you qualify, your APR on a future loan with us will be less than the APR on your first loan with us. For a more detailed review of these terms, please visit the Emerald Rewards page.

Will I qualify for a higher loan amount with Emerald Rewards?

You may. We designed our Emerald Rewards program to reward returning customers who pay back their new customer loan on good terms. If you qualify, your APR on a future loan with us will be less than the APR on your first loan with us. And, if you qualify, you may elect to accept a higher loan amount offer from us, too.

Are my returning customer benefits the same for all future loans?

The structure is similar. All Emerald Rewards tiers offer a discounted APR from the prior tier. The first tier of the program, Emerald Trek, offers you a rate that is lower than your new customer loan rate. All tiers include our expedited returning customer application process, too. The amount you can borrow depends on your qualifications as well as what tier level you earned from your last loan.

How do I apply for an Emeralds Rewards loan?

If your final payment for your most recent loan with Ascend Loans was drafted within the past 4 days, please call us at 1-888-512-7236 to process a new loan application for you.

If your final payment was made greater than 4 business days ago and has cleared your bank account, applying online through self-service is the way to go. Simply click My Account to login. Then click the reapply button. That will take you to the expedited returning customer loan application.

I had to defer a payment on my current / last loan with Ascend Loans. Am I still eligible for Emerald Rewards?

Ascend Loans understands that your climb to financial independence may come with a few obstacles. Just deferring a payment will not knock you off your path for qualifying for Emerald Rewards.

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(888) 512-7236

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Ascend Loans, LLC
635 East Highway 20, U
Upper Lake, CA 95485

Ascend Loans, LLC (“Ascend”) subprime loans are designed to help you meet short-term borrowing needs, such as for car repair, medical care for you or your family, or travel expenses in connection with your job. These loans are an expensive form of credit and are not intended to provide a solution for long-term credit or other financial needs. Alternative forms of credit such as a credit card advance, personal loan, home equity line of credit, and borrowing from a friend or relative may be a less expensive and more suitable source of funding.

Ascendloans.com is a website owned and operated by Ascend Loans, LLC, a wholly owned economic development arm and instrumentality of the Habematolel Pomo of Upper Lake (the “Tribe”), a federally recognized Indian tribe. This service is offered to you via the internet from the Tribe's trust land, regardless of where you may be situated or access this site, and constitutes an offer or solicitation for consumer loans solely within the Tribe's jurisdiction, not in any other state. The Tribe does not allow access or accept applications for this service from residents of all locations, and the service may or may not be available at your location. The locations from which the Tribe chooses to allow access to its jurisdiction may change from time to time without notice. The Tribe regulates financial services obtained by anyone choosing to access the Tribe's jurisdiction, such as you, under the Habematolel Pomo of Upper Lake Tribal Financial Services Regulatory Code. Ascend is authorized to offer such services within the Tribe’s jurisdiction through a license issued by the HPUL Tribal Financial Services Regulatory Commission. If you choose to visit the Tribe’s jurisdiction through the internet and access services offered and regulated under the Tribe’s laws, you must consent to the Tribe's jurisdiction and agree that Tribal law governs such services. Any agreements governing those services will become binding when we accept them at our offices on the Tribe's land.

Applications approved with instant funding are typically funded within 30 minutes of signing the loan agreement. Applications approved by 4:00 p.m. pacific time Monday through Friday are typically funded the next business day. Ascend may perform credit checks or otherwise verify the personal and financial information submitted on your application through traditional and alternative credit bureaus. If we are unable to verify your application information electronically, we will perform a manual verification in which you will be asked to provide certain documents. Manual verification may delay your loan decision and, if you are approved, funding. First-time Ascend customers may qualify for a loan of $300 up to $1,000. Customers with good payment history may qualify for subsequent loans at a discounted APR and increased dollar amount not to exceed $2,000. Complete disclosures of APR, fees, and payment terms are set forth in the loan agreement which you should read before you sign and obtain funds. Your loan may be repaid at any time without penalty.