Rates & Terms

Line of Credit

With a line of credit, you apply only once and can draw up to your available credit limit, repaying principal, interest and fees based on how much you’ve drawn.

When you need more funds, you can draw up to your available credit limit without reapplying.

Rates & Terms

Credit Limit

$100 - $3,000

Interest

The daily periodic rate applied to your account will be between 0.6274% - 0.8192%.

Annual Percentage Rate: The corresponding Annual Percentage Rate will be between 229% - 299%.

Transaction Fee

When you draw, you will be charged 15% of the amount drawn.

Actual line of credit terms may vary based on applicant's qualifications.
‍Last Updated: 5/12/2023

How It Works

1

Apply in less than 5 minutes.

2

Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documentation like proof of income.

3

If approved, receive a credit limit and draw money from your line of credit — you can draw as many times as you want, whenever you want, up to your available credit limit (minimum $50 draw).

4

Request a draw before 1:30 p.m. CT Monday – Friday, and you will generally receive funds that same business day.

5

Repay gradually over time or in full. Every billing cycle, you will have a minimum payment. You can pay more with no penalty in order to repay more quickly.

6

Increase your available credit as you repay, freeing up funds to draw, up to your credit limit.

7

Draw from your available credit whenever you need funds.

What It Costs

With a line of credit, interest is calculated based on outstanding principal, while minimum payments are calculated based on outstanding principal, interest and fees. These numbers can change from payment to payment. That means your minimum payment will usually change from one payment period to the next.

‍Below, you can see an example of what it might cost to draw $600 once from a $1,000 line of credit and make different kinds of repayments.

If you make only your minimum payment bi-weekly, your repayment will look like this:

Number of Bi-Weekly Payments

Total Repayment Time

5.5 months

APR

299%

Fees and Interest Paid

$541.16

Total Repayment

$1,141.16

If you were to repay more than the minimum each billing cycle, the time it would take to pay off your balance would go down, as would your repayment total. If you made three bi-weekly payments of $200 and one payment of $207.22, your repayment would look like this:

Number of Bi-Weekly Payments

Total Repayment Time

2 months

APR

299%

Fees and Interest Paid

$207.22

Total Repayment

$807.22

With an actual line of credit, your repayment might look different than the examples above. For instance, you could draw more money in the middle of a billing period, increasing your total repayment. Or you might repay a large sum all at once, reducing the cost and length of your repayment period.

Requirements to Apply for a ClickLendApp Loan

In order to be eligible for any ClickLendApp product, you must meet our requirements:

18 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Apply Now

Governing Law

The line of credit agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

Terms Explained

Account Balance

Billing Period

Principal Balance

Transaction Fee

Interest

APR

Minimum Payment

Apply Now