175-H N. Daleville Avenue., Post Office Box 550, Daleville, AL  36322-0550

Phone: (334) 598-1563 and 598-3888 Fax: (334) 598-4019
Email: jfi@rapidloans.com; robin@jonesfinance.com; mrj@jonesfinance.com

Hours: 9:00 am - 5:30 pm CST (Open some Saturdays from 10:30 am to 3:00 pm CST)

Q. How much money can I borrow?

A. Up to $3000.00.

Loans for less than $1,000.00 may be processed and a check received in one day. This is accomplished through emailing all information we request and using Western Union's same day service to deliver the proceeds.

Loans  $1,000.00  to $3,000.00. The  loan package is sent within two (2) business days provided  we receive all the information requested to act on the application, i.e., proof of income, etc.  You can then e-mail the information to jfi@Rapdiloans.com, or it may be faxed at (334) 598-4019.

Q. I have filed bankruptcy in the last ten years.  Can I still apply for a loan?

A.  Yes, however, the bankruptcy must either have been discharged or dismissed. If, however,  it is an active Chapter 13 bankruptcy we may be able to do a loan provided you get written approval from the Bankruptcy Trustee for the Chapter 13 case. Trustees may approve the new debt provided the additional debt does not interfere with the Chapter 13 Bankruptcy Plan. We recommend you contact your bankruptcy attorney for legal guidance and /or your bankruptcy case trustee for further guidance.

Q. Will I be penalized for paying off the loan early?

A.  No, and you will be refunded the unearned portion of the finance charges and unearned portion of the insurance premiums that have not been earned. 
 

Q. Can I use my vehicle as collateral although it is not paid off?

A.  No, you must have a clear title with no liens. The loan value of the vehicle must exceed the amount of the money requested and must be sufficient to cover the amount of the total payments of the loan. 

Q. Do you do a credit history inquiry?

A.  Yes, credit checks are done through one or more of the nation's major credit bureaus; i.e., Equifax, Inc., TransUnion, LLC, and/or Experian. 

Q. What are the minimum qualifications for a loan?

A.  Active duty military personnel must have a minimum of one (1 ) year remaining on active duty and the military service member is in good standing, i.e., you are fully qualified (not on weight control program, can pass a physical fitness test, and are not flagged and/or pending any unfavorable actions) to remain on active duty. 

      Federal Civil Employees and Postal employees have been hired with uninterrupted employment in a full time position or regular part time position serving in said position for a  minimum period of one (1) year.
 
    U.S. Armed Forces Retirees
must be receiving benefits directly from Defense Accounting and Services (DFAS).   

    State of Alabama Residents applying for a loan must be employed for a minimum of  two (2) years with the present employer, minimum of six (6) months residency at their present domicile, net earnings of $1,000.00 per month or more; and provide collateral, such as a motor vehicle without attachments or liens. 

    If you are receiving a fixed income, such as Social Security Supplement (SSI) and/or Social Security (SSA) we do require a vehicle as collateral.   

Q.  Are there other considerations involved for approving a loan?

 A.  Yes.  Other considerations are weighed in determining loan approval. The application must be completed with integrity and  full disclosure. Our loan approval decision is determined by the 4 C’s: 

               Character (good character and integrity/ honesty)
               Capacity  (to repay the debt)  {debt ratio, income stability, and disposable income}
               Credit history (more emphasis on the present and less on the past)
               Collateral (security against default).
 

NOTE: Other considerations are: credit references, income, obligations, adequate collateral, terms and conditions you request, stability of employment and residence, outstanding lawsuits, garnishments, attachment, foreclosure, or repossession.

Q. Do we report loan agreement activity to the credit bureaus?

A. Yes. We report borrower's credit history to two major credit bureaus; Equifax Information Services, LLC and TransUnion, LLC.  The purpose of us reporting to the credit bureau/s is to help our customers establish and/or re-build credit.

Q. When can I receive my refund payment(s) after the loan is paid off?

A.  Any refund due is made upon payoff. 

Q. Can I make loan payments using the DFAS Military Allotment System?

A. Yes. However, the new allotment rule applies to active duty Members, and not military retirees or DoD Civilians. New allotment changes effective January 1, 2015. The change in DoD's Financial Management Regulation will prohibit service members from allotting pay to buy, lease or rent personal property. The new change will no longer allow active duty military members to make allotments for the following types of purchases: 

     a. Vehicles, such as automobiles, motorcycles and boats
     b. Appliances or household goods, such as furniture, washers and dryers
     c. Electronics, such as laptops, tablets, cell phones and television
     d. Other customer items that are tangible and moveable

   Allotments still can be used for savings account deposits, investments, to support dependents, pay insurance premiums, mortgages, rents, make Combines Federal Campaign contributions, and U.S. government debt repayments. 

    Service members must certify under the Uniform Code of Military Justice that the allotment is not for " the purchase, lease, or rental of personal property of or payment toward personal property.