Two friends looking at smartphone learning how Fig Loans works

How Fig Loans Works

Getting a personal loan should be simple. We have designed our process to be fast, transparent, and stress-free from start to finish.

Simple Process

Three Easy Steps to Get Your Loan

From application to funding, our streamlined process respects your time while ensuring you get the best possible loan for your situation.

1

Complete Your Application

Fill out our simple online form in about 5 minutes. Provide basic information like your name, address, income, and how much you would like to borrow. Checking your rate uses a soft inquiry that will not affect your credit score.

2

Review Your Offers

Within minutes, receive personalized loan offers tailored to your situation. Each offer includes the loan amount, APR, monthly payment, and total cost. Compare your options and choose the one that fits your budget best.

3

Get Your Funds

Accept your preferred loan offer and complete the final verification. Once approved, your funds are deposited directly into your bank account as soon as the next business day. Start using your money right away.

Start Your Application Now
In Detail

A Closer Look at the Fig Loans Process

We want you to feel confident every step of the way. Here is a detailed breakdown of what to expect when you apply.

Person completing Fig Loans online application
1

Complete Your Online Application

Our application is designed to be completed in about 5 minutes from any device. You will need to provide some basic information to help us understand your financial situation and determine the best loan options for you.

Information you will need:

  • Full legal name and date of birth
  • Social Security Number for identity verification
  • Current address and contact information
  • Employment status and monthly income
  • Bank account information for deposits

Important: Checking your rate only requires a soft credit inquiry, which does not affect your credit score. You can explore your options risk-free.

2

Review Your Personalized Offers

After submitting your application, you will receive loan offers within minutes. We believe in complete transparency, so each offer clearly displays all the information you need to make an informed decision.

Each offer includes:

  • Loan amount you qualify for
  • Annual Percentage Rate (APR)
  • Fixed monthly payment amount
  • Loan term and number of payments
  • Total cost of the loan including interest

Take your time to review each option. There is no pressure to accept immediately, and you can use our loan calculator to compare different scenarios before making your decision.

Person comparing Fig Loans offers
Happy customer receiving Fig Loans funds
3

Receive Your Funds Fast

Once you accept a loan offer, we will complete the final verification process. This is quick and straightforward for most applicants. After approval, your money is on its way.

What happens after you accept:

  • Final verification of your information
  • Electronic signature of loan agreement
  • Funds deposited via ACH direct deposit
  • Money available as soon as next business day

Pro tip: Apply early in the day on a business day to maximize your chances of receiving funds by the next business day.

Managing Your Loan

What Happens After You Get Your Loan

Our relationship does not end when you receive your funds. Here is what to expect during the life of your loan.

Fixed Monthly Payments

Your payment amount stays the same every month, making budgeting simple. Payments are automatically withdrawn from your bank account on your scheduled due date, so you never have to worry about missing a payment.

Credit Bureau Reporting

We report your payment activity to all three major credit bureaus: Equifax, Experian, and TransUnion. Making on-time payments can help build your credit score and improve your financial profile over time.

Ongoing Customer Support

Our support team is available throughout your loan term to answer questions, help with payment issues, or discuss options if your financial situation changes. We are here to help you succeed.

Questions

Common Questions About Our Process

The entire process can be completed in as little as 24 hours. The application takes about 5 minutes to complete, and you will receive loan offers within minutes. Once you accept an offer and complete verification, funds are typically deposited by the next business day. Applying early in the day gives you the best chance of faster funding.
Yes, Fig Loans allows you to pay off your loan early with no prepayment penalties. If you come into extra money or want to reduce your interest costs, you can make additional payments or pay off your entire balance at any time without any extra fees.
If we cannot approve your application, we will explain why and, when possible, suggest steps you can take to improve your chances in the future. Common reasons include insufficient income, existing debt obligations, or issues with identity verification. Since checking your rate does not affect your credit score, there is no downside to applying.
Your automatic payments are scheduled based on your pay dates to make repayment easier. Payments are withdrawn automatically from the bank account you provided during your application. You will receive reminders before each payment, and you can contact our support team if you need to make changes to your payment schedule.
If you are having difficulty making a payment, please contact our support team as soon as possible. We understand that life happens, and we may be able to work with you on options depending on your situation. The most important thing is to communicate with us before a payment is missed.

Ready to Get Started with Fig Loans?

Apply now and check your rate in minutes. No obligation and no impact to your credit score.

Apply Now
Happy Fig Loans customer