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| | |  | | Urban Loft offers a simple and easy way to get the financing you need without a credit check. Our goal is to get you the financing you need, regardless of your credit history. Simply print out and complete our No Credit Check application, follow the steps below and bring the necessary materials to any of our show room.
No Credit Check Application
The first step in receiving your No Credit Check financing is by contacting us for a No Credit Check application.
No Credit Check Requirements
You must satisfy the following requirements to receive No Credit Check Financing.
1. Must be employed by the same company for at least SIX months.
2. Earn $1,000 a month and deposit at least $500 a month into your checking account.
3. Must have a checking account that has been open for at least THREE months.
4. No NSFs and no more than 5 protected overdrafts in the last 30 days.
Pre-Qualify
If you qualify based on the above requirements, please provide the documents listed below to verify the information given on the application.
Approval Process
A) Verify INCOME REQUIREMENTS of $1,000 a month for at least 6 months, with a:
Paystub showing 6 months of employement; or
S.S. or Disability Benefit Letter; or
Letter from employer with hourly wage and YTD on company letterhead
If self employed - Provide a 1099 and 30 day bank statement or a business license and 3 months of bank statement
B) Verify CHECKING ACCOUNT REQUIREMENTS with a 30 day bank statement that shows:
No NSFs & no more than 5 protected overdrafts;
Account open for 3 months;
$500 in deposits;
Does not end with a negative balance.
C) VOIDED CHECK (Or a Bank Account Verification Form)
D) PHOTO I.D.
Frequently Asked Questions
Q: What is the interest for this program?
A: This program has no interest because it is a lease-purchase contract. If you pay your balance off within 90 days, all you pay is the invoice price and the $50 Processing fee. If you take more than the first 90 days to pay off the purchase, then you will pay 1.8 times the invoice total over 12 equal payments. (Example: on a $1,000 invoice, you will pay the $50 processing fee and 12 monthly payments of $150; a total of $1,850)
Q: Will the financing company check my credit report?
A: No, the financing company will verify information from your most recent 30-day bank statement and pay stub.
Q: How long do you have to be employed to qualify?
A: At least six months with the same employer. The pay stub must show this and you may need a December pay stub from the previous year or a W2 to show six full months of employment.
Q: How long will my account be active?
A: An approved account and contract are good for 31 days. If an invoice takes more than 31 days to deliver, then contact the store for an extension. If the extension cannot be given or the delivery takes longer, you will need to reapply.
Q: What happens if the order is not in stock (special order)?
A: This program is still available; wait until the merchandise is in stock and you are ready to schedule delivery/pickup before applying. If you are not approved, the special order deposit will not be refunded.
Q: Where do I mail my payment? Can I pay online or by phone?
A: Monthly payments will be debited out of you checking account by ACH every month on the same date the contract is signed, not the delivery date.
Q: What happens if there are damages or service on my delivery?
A: Contact Urban Loft; even-exchanges will not require paperwork to be sent to the finance company. On reselections, you will be responsible for any overages and all refunds will be issued to the finance company. |
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