Terms & Conditions

On The Spot Loans LLC is a registered company with Sunbiz Florida. We work diligently to provide you with the most affordable interest rates, and our application is simple, and to the point. You must be 18 years of age or older and must reside in the United States of America. Applications must be completed to its entirety. A non-refundable $2.00 application fee will be charged for each application. Fees are due once the application is submitted. A new application must be completed every 90 days, and proof of income must be provided every time an applicant requests a new loan. Every time you apply for a loan, supporting documents must be re-submitted with every application. Applicants must provide 2 references, including their name, address, phone number, and email address. Both references cannot share the same address or the address of the applicants. All applicants must have ALL the required documents. This includes but is not limited to non-temporary driver’s license or state ID, utility bill with matching address, your most recent paystub, a picture of the applicant holding their ID to their face, and a bank account must be in your name. All applicants are prohibited from providing false or misleading information. A working phone number is required. Text Now, Google Voice or any other related service will not be accepted as a method of contact. Any attempt to do so will result in immediate denial. We must be able to verify your employment or proof of income before you qualify. All loans are subject to approval. Interest rates vary depending on the loan amount. The duration of approval ranges from the same day to 72 hours.

Currently, we welcome all credit, and we do not share your information with any third party. Payday loans and installment loans are for short-term use only and should never be considered for long-term use. Repayment of loans is nonnegotiable and is advised to be repaid in the same method in which they were received. Loans are disbursed through Cash App or Zelle. If an applicant opts to use Cash app, they must agree that they are responsible for the cash out fees. Applicants are not allowed to have more than one outstanding loan with us at a time. Applicants are not allowed to apply for loans for anyone but themselves.

On the due date the applicant(s) will get a reminder text message, or email. If the loan is not paid on the due date, mandatory late fees of $5 will be added to the balance for each day until the loan is paid in full. If an applicant decides to make a partial payment, the interest remains the same for the principal loan amount, and the mandatory late fee will still be added each day. Applicants must wait at least 24 hours after repayment to apply for another loan. If an applicant doesn’t pay the loan, and we are unable to get a hold of said client, On The Spot Loans LLC reserves the right to locate the applicant by any means necessary. We will begin with the references provided, and the workplace. We will make every attempt for 30 days after the due date. If an applicant is delinquent, we will not be able to accept a referral from them. We will report delinquent clients to the major credit bureaus. On The Spot Loans LLC holds the right to take legal action if an applicant does not repay the loan in full, and we are unable to get a hold of them for 30 days. At such a time, we will proceed with legal action. The applicant will be responsible for all legal, attorney, and court fees.