Loan Agreement
Prior to loan closing and funding, you will be provided with a loan agreement specific to your loan which will include a schedule of payments, APR (Annual Percentage Rate) and other terms and conditions.
Online Installment Loans from Post Lake Lending are an expensive form of borrowing. You can save finance charges by paying off your loan early either in part or in full. Your loan is designed to assist you in meeting your short-term cash needs. It is not a solution for longer term financial problems. Non-profit credit counseling services are available in your community for consumers experiencing financial problems.
Prior to loan closing and funding, you will be provided with a loan agreement specific to your loan which will include a schedule of payments, APR (Annual Percentage Rate) and other terms and conditions.
The finance charge applied to your loan will be clearly disclosed, both in terms of dollar amount of interest and APR (Annual Percentage Rate) on your loan agreement. We provide accurate and comprehensive rate and fee disclosures on your loan agreement in accordance with the Truth in Lending Act and other regulations. Late fees, NSF (Non-Sufficient Funds) fees and returned items fees may also be applied and are detailed in your loan agreement.
The below table is a sample amortization table for our installment loans, so you can see how rates and interest might be applied to your loan.
The sample amortization table below assumes a bi-weekly payment schedule, a $1,000 loan amount, and 14 days from the effective date of the loan to the first scheduled due date. Your schedule of payments, number of payments, finance fees, total payments and annual percentage rate may be different depending on several factors including your loan program, your pay date frequency, your loan amount, your choice on the wire option, the date of the loan and whether you choose to prepay the loan. Prior to loan closing and funding, you will be provided with a schedule of payments based upon your specific loan. APR (Annual Percentage Rate) and other terms will also be provided to you prior to loan closing and funding. Disclosures will be made according to the Truth in Lending Act guidelines.
| Payment Number | Beginning Loan Balance | Finance Fee Payment Due | Principal Payment Due | Total Payment Due | Ending Loan Balance |
|---|---|---|---|---|---|
| 1 | $1,000.00 | $299.18 | $0.33 | $299.51 | $999.67 |
| 2 | $999.67 | $299.08 | $0.43 | $299.51 | $999.24 |
| 3 | $999.24 | $298.95 | $0.56 | $299.51 | $998.68 |
| 4 | $998.68 | $298.78 | $0.73 | $299.51 | $997.95 |
| 5 | $997.95 | $298.56 | $0.95 | $299.51 | $997.00 |
| 6 | $997.00 | $298.28 | $1.23 | $299.51 | $995.77 |
| 7 | $995.77 | $297.91 | $1.60 | $299.51 | $994.17 |
| 8 | $994.17 | $297.43 | $2.08 | $299.51 | $992.09 |
| 9 | $992.09 | $296.81 | $2.70 | $299.51 | $989.39 |
| 10 | $989.39 | $296.00 | $3.51 | $299.51 | $985.88 |
| 11 | $985.88 | $294.95 | $4.56 | $299.51 | $981.32 |
| 12 | $981.32 | $293.59 | $5.92 | $299.51 | $975.40 |
| 13 | $975.40 | $291.82 | $7.69 | $299.51 | $967.71 |
| 14 | $967.71 | $289.52 | $9.99 | $299.51 | $957.72 |
| 15 | $957.72 | $286.53 | $12.98 | $299.51 | $944.74 |
| 16 | $944.74 | $282.65 | $16.86 | $299.51 | $927.88 |
| 17 | $927.88 | $277.60 | $21.91 | $299.51 | $905.97 |
| 18 | $905.97 | $271.05 | $28.46 | $299.51 | $877.51 |
| 19 | $877.51 | $262.53 | $36.98 | $299.51 | $840.53 |
| 20 | $840.53 | $251.47 | $48.04 | $299.51 | $792.49 |
| 21 | $792.49 | $237.10 | $62.41 | $299.51 | $730.08 |
| 22 | $730.08 | $218.42 | $81.09 | $299.51 | $648.99 |
| 23 | $648.99 | $194.16 | $105.35 | $299.51 | $543.64 |
| 24 | $543.64 | $162.65 | $136.86 | $299.51 | $406.78 |
| 25 | $406.78 | $121.70 | $177.81 | $299.51 | $228.97 |
| 26 | $228.97 | $68.50 | $228.97 | $297.47 | $0.00 |
To minimize the total cost of your loan, we strongly recommend taking steps to either pay off your loan in-full or to pay as much as possible in order to reduce the principal (original debt incurred) as quickly as possible. Remember – There are no prepayment penalties.
Your first payment is due on your following income date. If that day happens to fall on a weekend or holiday, the payment will be due on either the business day immediately prior to or the business date immediately following; this will be specified in your loan agreement.
If you need to change your payment schedule for any reason, you must notify Post Lake Lending at least three (3) business days prior to the next payment date you are scheduled to make.
You will be sent reminders via email outlining your due date options prior to the due date.
If we extend credit to a consumer, we will consider the bank account information provided by the consumer as eligible for us to process payments against. In addition, as part of our information collection process, we may detect additional bank accounts under the ownership of the consumer. We will consider these additional accounts to be a part of the application process for underwriting and verification purposes only. We always obtain prior separate customer authorization when trying to obtain additional customer bank account information as a potential payment option.
We verify applicants' credit information using national databases. You can complete the loan process by creating an account and submitting your application online.
**Post Lake Lending’s loans are usually funded by Automated Clearing House (ACH) electronic crediting directly to your bank account. ACH transfers that are completed by 2:00 pm CST will usually be available the next business day. Unavoidable delays that occur as a result of bank holidays, the processing schedule of your individual bank, inadvertent processing errors, "acts of God", and/or "acts of terror " may extend the time for the deposit and may cause a change in the Disbursement Date.
Post Lake Lending is a Native American business owned and operated by the Tribe; a federally recognized sovereign Indian nation (the "Tribe") that adheres to federal consumer financial protection laws and operates within the boundaries of the Tribe's reservation. Post Lake Lending abides by all applicable federal laws, regulations, and tribal law as established by the Tribe.
This is an expensive form of borrowing. Post Lake Lending Installment Loans are designed to assist you in meeting your short-term borrowing needs and are not intended to be a long term financial solution. Post Lake Lending never charges any prepayment penalties on partial or complete repayments. Prompt repayment of your loan will reduce the costs associated with borrowing and is strongly recommended by Post Lake Lending.
Credit products obtained through this website are not available to residents of all states and state availability may change from time to time without notice. Currently, residents of Arkansas, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Vermont, Virginia, West Virginia, Wisconsin are not eligible for a loan from Post Lake Lending.