Last Updated: March 07, 2023
Possible Loan
Direct Lending
California
Possible Finance is licensed by the Department of Financial Protection and Innovation, pursuant to the California Deferred Deposit Transaction Law, License #10DBO-105848. Maximum loan amount in California is $250.
Deferred Deposit Transaction Law License →
Example Fee Schedule
| Amount Provided | Fee | Amount of Check (Total Owed) | Payday Loan w/ single payment (14-day APR) | Payday Loan w/ single payment (30-day APR) | Possible Finance Installment Payments (56-day APR)* |
|---|---|---|---|---|---|
| $100 | $17.64 | $117.64 | 460% | 214% | 178% |
| $200 | $35.29 | $235.29 | 460% | 214% | 178% |
| $250 | $44.11 | $294.11 | 460% | 215% | 178% |
*The loan will initially be issued as a 14 day loan that is due in a lump sum on the 14th day. But don’t worry! We will offer you an extended repayment plan with four equal installments over eight weeks at no additional cost as soon as your loan is originated.
Possible Financial Inc. cannot use the criminal process against a consumer to collect any deferred deposit transaction.
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Pilot Program for Increased Access to Small Dollar Loans
Consumer Financing Law License →
Florida
Money Transmitters Part III (Check Casher) with Deferred Presentment License →
Idaho
Louisiana
Licensed Lender Main Office (In-State & Out-of-State with Lending Activity) →
IF YOU CANNOT MAKE PAYMENT WHEN DUE, YOU CAN ASK TO ENTER INTO AN EXTENDED PAYMENT PLAN ONCE IN A TWELVE-MONTH PERIOD, BUT THE REQUEST MUST BE MADE BEFORE PAYMENT IS DUE. SHOULD YOUR LENDER (LICENSEE) REFUSE TO ENTER INTO AN EXTENDED PAYMENT PLAN UPON YOUR REQUEST BEFORE THE DUE DATE, CONTACT THE OFFICE OF FINANCIAL INSTITUTIONS AT 1-888-525-9414.
Interest : $16.75 for every $100 borrowed
Documentation Fee : $10 for every loan
Ohio
Utah
Consumer Credit Notification →
Washington
Check Casher License →
Small Loan Endorsement License →
If you have questions about your rights and responsibilities when taking out a payday loan, contact the Department of Financial Institutions at 1-800-RINGDFI (1-877-746-4334), or 360-902-8700, or 150 Israel Road S.W., Tumwater, Washington, 98501.
Your right to rescind (cancel) this loan. You have the right to rescind this loan by returning the amount of the loan in cash or returning the check given to you by us to our office by the close of business on our next business day following the date of this loan. We may not charge you for canceling the loan and we will return to you, or at your request destroy any postdated check or electronic equivalent authorization you have given to us. If the ACH authorization cannot be destroyed it becomes void if you cancel the loan.
Your right to an installment plan when you are unable to pay your small loan when it is due.
If you will be or are unable to pay your loan when it is due, you may convert your loan to an installment plan with us by notifying us on or before the loan’s due date. If your loan amount is four hundred dollars or less, you may enter into an installment plan that allows you to pay off your loan in substantially equal payments over ninety days. If your loan amount is more than four hundred dollars, you may enter into an installment plan that allows you to pay off your loan in substantially equal payments over one hundred eighty days.
An installment plan will allow you to pay all that you owe without having to pay any additional fees, interest charges, or other charges for converting your small loan into an installment plan.
Example Fee Schedule
| Amount Financed | Fee | Total Amount of Principle and Interest | Annual Percentage Rate (assumes 56-day term) |
|---|---|---|---|
| $100 | $15 | $115 | 151.70% |
| $200 | $30 | $230 | 151.70% |
| $300 | $45 | $345 | 151.70% |
| $400 | $60 | $460 | 151.70% |
Loan Servicing
Iowa
Nonresident Regulated Loan Company Branch License →
Kansas
Texas
Credit Services Organization License →
Credit Access Business License →
This business is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question.
OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705
Phone : (800) 538-1579
Fax : (512) 936-7610
Website : occc.texas.gov
Email : [email protected]
An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.
Example Fee Schedule
| Amount Financed | CAB Fee | Interest Rate | Finance Charge (Interest & Fees) | Annual Percentage Rate (APR) | Additional Fees Charged at Loan Inception | Standard Loan Term | Number of Payments | Payment Amount* | Total of Payments |
|---|---|---|---|---|---|---|---|---|---|
| $200 | 25% | – | $50 | 248.67% | $0 | 8 weeks | 4 | $62.50 | $250 |
| $300 | 25% | – | $75 | 248.67% | $0 | 8 weeks | 4 | $93.75 | $375 |
| $400 | 25% | – | $100 | 248.67% | $0 | 8 weeks | 4 | $125.00 | $500 |
*Fourth payment amount may vary slightly based on timing of repayment. See example for $200.
Possible Card
Card Servicing
Arizona
Collection Agency License CA-1033558 (issued 1/26/22) →
Collection Agency License CA-1041621 (issued 9/12/22) →
Collection Agency License CA-1041622 (issued 9/12/22) →
California
Iowa
Louisiana
Collection Agency Registration →
Maine
1. Written Agreement or Contract. The agreement between you and our company must be in writing, signed, and must contain the following details: a complete description of services to be performed; complete details of payment; any guarantees; the time frame encompassed by the contract; a description of any offers of full or partial refund; and a notice informing you of the importance of reading the contract and of retaining a copy for your records.
2. Escrowing of Consumer Funds. Possible does not charge an advance fee to provide you with the Possible Card. In the event that such a fee is ever charged, funds paid by you in advance must be deposited in an escrow account until services are completed. The only exceptions are fees paid to 3rd parties for the actual costs of the following items or services: credit reporting, appraisals, investigation reports, title examinations or property surveys.
3. Consumer Protection Bond. A $25,000 consumer protection bond is on file with the State of Maine. If you have a claim against our company that cannot be resolved through informal means, you may institute an action to recover your loss from that bond by filing a written complaint with the Superintendent, Bureau of Consumer Credit Protection, 35 State House Station, Augusta, Maine 04333-0035.
Maryland
Massachusetts
Third Party Loan Servicer Registration →
Nebraska
Installment Loan Company License →
New Jersey
Oregon
The terms and conditions of receiving a Possible Card are subject Oregon law, including but not limited to the interest rate caps contained in ORS 725.340, which provide that interest cannot exceed the greater of 36 percent or 30 percentage points in excess of the discount window primary credit rate expressed as an annual percentage rate, and the Oregon Unlawful Trade Practices Act.
Pennsylvania
Credit Services Loan Broker Registration →
South Dakota
Utah
Vermont
THIS IS A LOAN SOLICITATION ONLY. POSSIBLE FINANCE IS NOT THE LENDER. INFORMATION RECEIVED WILL BE SHARED WITH COASTAL COMMUNITY BANK IN CONNECTION WITH YOUR LOAN INQUIRY. COASTAL COMMUNITY BANK MAY NOT BE SUBJECT TO ALL VERMONT LENDING LAWS. COASTAL COMMUNITY BANK MAY BE SUBJECT TO FEDERAL LENDING LAWS.
Washington
West Virginia
Collection Agency Business Registration →
Wisconsin
Consumer Act Registration