Truth in Lending Act

Truth-in-Lending Disclosure

The Truth-in-Lending act requires that borrowers receive written disclosures about important terms of credit before they are legally bound to pay the loan.

The Disclosure form will include the following.

• Annual Percentage Rate: the APR is the cost of credit expressed as a yearly rate in a percentage.  Finance Charge: cost of credit expressed as a dollar amount. 
• Amount Financed: the dollar amount of credit provided to you. 
• Total of Payments: the sum of all the payments that you will have made at the end of the loan.  

Important terms such as the number of payments, the monthly payment, late fees, whether you can prepay your loan without a penalty.

Note that the TILA disclosure is provided as part of the loan contract.  You should review it all, paying special attention to the disclosures noted above.

We will send you a URL web address, Your Client Web Portal, that will allow you to see, and or print, your written Truth-In-Lending Disclosure at the time you request a loan, before your loan is approved.  At the time of setting up your account you will also be given access to Your Client Web Portal that will allow you to see and or print a sample disclosure before you request a loan. You also will be mailed information about all finance charges and annual percentage rate information on all consumer small loan products offered by us at the time you create a new account with us.  You may also request a copy be mailed to at anytime.