Why is my credit score important?
Many lenders, insurance companies and other institutions use your credit score in making loan, credit, insurance and even employment decisions. Because we know that building and maintaining a healthy credit score is important in many ways, we help you by reporting to Experian and TransUnion.
What is a fair credit score? What do you mean when you refer to NearPrime consumers?
A: Whether you call it “fair credit” or “NearPrime,” there’s a range of FICO scores in the 600s where we believe consumers are in need of access to credit they may not be able to get from banks and other traditional lenders. We look at the entirety of a person’s credit story in order to evaluate risk and extend credit to people who might not qualify elsewhere.
Do you offer loans in all states?
A: When Scala Funding Company began in 2016, we offered loans only in our home state of Georgia. Since then, we've been carefully growing to meet the needs of more of the country. As of June of 2018, we operate in 34 states and Washington, DC. Click a state link to learn more.
Does applying affect my credit score?
A: Clicking on "Apply" and filling out your basic information (name, address, date of birth, social security number, annual income) to see what loan offers we can provide, does not affect your credit report, as we do what is called a "soft pull." A soft pull is a data request that only we can see on your credit report. If and when you do select a loan offer from us, we do make a “hard inquiry” to verify the information you’ve provided on the application as part of the approval process. This hard inquiry will be shown on your credit report.
How does Scala Funding Company keep my personal and banking information safe?
A: Scala Funding Company takes extensive precautions to protect your personal information. We use robust industry-leading procedures and safeguards, including encryption, to secure and protect your personal information. Further information regarding Scala Funding Company’s security policies and procedures is available upon request by emailing us at email@example.com.
Can I apply if I have a discharged bankruptcy?
A: Yes, you are welcome to apply, as long as your discharged bankruptcy is 12 or more months in the past. Whether we are able to present you with a loan offer will depend upon a variety of factors such as time since the bankruptcy was discharged, your current credit picture, your income and employment, and other items.
Am I eligible to apply for a Scala Funding Company loan?
A: Here are 6 important requirements before you can get a loan with Scala Funding Company:
- You must be at least 18 years of age.
- You must be able to provide a U.S. federal, state or local government issued photo ID.
- You must have a social security number.
- You must have a minimum annual income of $20,000 (from employment, retirement or some other source).
- You must have a verifiable personal bank account in your name.
- You must live in one of the states where Scala Funding Company does business. As of June 2018, we are in 34 states and the District of Columbia, and growing.
What additional information is needed after I choose a loan offer?
A: Once you choose an offer, the loan approval process requires additional information such as (but not limited to):
- Driver’s license
- Bank statements and a voided check
- Proof of income
How much can I borrow?
A: Our personal loans range from $2,000 to $25,000. The loan amount you may be approved for depends upon your individual credit picture and information provided during the application process.
Do you offer joint or cosigned loans?
A: Not currently. We offer personal loans based on your individual credit picture, taking into account only your individual information and income (not joint or household).
How can I use my Scala Funding Company loan?
A: You can use your loan for whatever legal personal expense or purchase you choose. Consider it a debt consolidation loan, a wedding loan, a fix-my-car or a kitchen-remodel loan. It’s up to you.
How long does it take to receive a preliminary approval decision?
A: Based on your credit picture and the information provided on your application, we’ll return your loan offer(s) in just moments. Once you have accepted an offer we will ask you to provide some additional information and documents. After all required documentation has been received and verified, a final underwriting review and loan approval can be completed in just a few hours in many cases.
How quickly will my loan be funded?
A: We’ll initiate transfer of the funds into your bank account as soon as the next business day after final loan approval and receipt of all required documents.
My friend received a pre-approved letter, but I did not. Can I still apply?
A: Yes, your application is always welcome. We sometimes send out pre-approved mailers, but we don’t always get to send them to everyone we’d like to. We make it easy to see what offers you qualify for – just click on the Apply button found throughout our site and follow the simple steps.
How can I access my loan information online?
A: After your loan is approved and funded you’ll receive an emailed link from firstname.lastname@example.org with a temporary ID and password to the email address you provide on your application. With this temporary sign-in information, you can create your own personal login credentials so that you can access your loan information anytime you like.
When is my payment due?
A: Your loan agreement states when your payments are due. Or, you can login to your account at any time and see the next payment due date.
I set up ACH payments when I applied. Do I need to do anything else in order to make my first payment?
A: No, your automatic payments are set up to debit against the bank account information you supplied us during the application process.
Are all of my payments due on the same date every month?
A: Most new Scala Funding Company loans are being written with a 28-day payment schedule. This means the actual due-date for your loan payment will move almost every month. We also offer traditional monthly payments, as well as bi-weekly payments. If you have any questions about your loan payment dates, please reach out to Customer Service at 224-419-5099, 949-467-9638 or email us at email@example.com.
How can I make a payment?
- AutoPay: Most of our customers take advantage of this simple, easy option. Typically set up during the application process, we’ll work with you to determine the due date(s) that best suit your budget and cash flow.
- Online: Click on Make a Payment or Login to access your account and initiate payment from your bank account provided.
- Certified Funds: Such as a money order, cashier’s check or certified check should be made payable to Scala Funding Company. The address to send your payment is located on your loan agreement and payment reminders sent via email. You can also call us directly at 224-419-5099, 949-467-9638 or email us at firstname.lastname@example.org for the address. Please do not send your check to our Kennesaw headquarters.
Can I make an extra payment?
A: Of course, you can make an extra payment at any time using one of the methods listed in the payments question above.
Is there a penalty for paying off my loan balance early?
A: There are no fees for early payoff.
Can I receive another loan with Scala Funding Company if I have an existing Scala Funding Company loan?
A: Yes you can in some cases (subject to credit approval and other conditions noted in the answer to the next question below). Contact us at email@example.com or 224-419-5099, 949-467-9638 and speak to one of our loan specialists today.
How do I get my loan payoff balance?
A: You can get your loan payoff balance by calling customer service on 224-419-5099, 949-467-9638.
Do you report to the credit bureaus?
A: Yes, we typically report your loan activity and history to one or more credit bureaus.
How can I reset my password?
A: Contact us at firstname.lastname@example.org or 224-419-5099, 949-467-9638 and we’ll be happy to send you an email with a link that allows you to reset your password. Remember, your login id is the email address you provided on your application.
How can I update my contact information?
A: You can login to your account information and make updates to your address, phone number and email address.
Your loan agreement has the payment schedule. If you access the customer portal, you will find your payment information. Scala Funding Company is a paperless company, so you will not receive paper statements in the mail.
Can I change my due date either temporarily or permanently?
A: You can make payment due date change request by contacting us at email@example.com. Please notify us at least 5 business days prior to your existing due date. If the date change is permanent, you will need to sign a loan modification agreement.
Can I change the bank account from which my payments are drawn?
A:You must contact Customer Service at 224-419-5099, 949-467-9638 or firstname.lastname@example.org. We will need you to send in a new voided check.