Home > Lending Policy
At Zayloan.com, we are dedicated to promoting responsible lending practices and ensuring that our users are well-informed about their financial options. We believe in transparency, fairness, and compliance with all applicable laws and regulations.
Adherence to State Regulations
All lenders and lending partners within our network are required to comply with all relevant federal, state, and local laws. This includes, but is not limited to, regulations regarding interest rate caps, loan terms, restrictions on rollovers, limits on the number and frequency of loans, and fee structures.
Before accepting any loan offer, we strongly encourage you to familiarize yourself with the specific rules, regulations, and laws that may apply to that loan and the lender or lending partner offering it.
The Truth in Lending Act (TILA)
The Truth in Lending Act (TILA) mandates that lenders and lending partners provide you with clear, written disclosures detailing the exact fees, interest rate, and other pertinent information about your loan.
This information must be presented to you before any agreement is finalized.
Lenders and lending partners are prohibited from offering terms that violate any applicable laws, regulations, or rules. The specific terms of your loan will be governed by the relevant state law.
The Dodd-Frank Wall Street Reform and Consumer Protection Act
The Dodd-Frank Act requires all lenders and lending partners to adhere to fair lending practices.
This Act empowers the Consumer Financial Protection Bureau (CFPB) to establish regulations that prevent abusive and unfair lending practices.
These regulations are designed to protect consumers and prevent discrimination based on race, ethnicity, gender, or age, ensuring that all individuals with equal creditworthiness are treated fairly.
Disclosure of Personal Information for New Account Openings
Federal law requires lenders, lending partners, and other financial institutions to verify the identity of their customers.
This law is designed to combat money laundering and the financing of terrorist activities.
As a result, you may be required to provide personal information such as your name, date of birth, address, Social Security number, and other identifying details.
Your lender or lending partner may also request a valid state or federal ID to confirm your personal information.
By adhering to these principles and regulations, Zayloan.com strives to create a safe and transparent marketplace for borrowers and lenders alike.
Important Information: Please Review Carefully
If you are experiencing significant financial hardship, exploring alternative solutions or seeking advice from a qualified financial advisor is strongly recommended.
This website utilizes Site Visit Recording Technology to document interactions, including tools provided by third-party services like Jornaya’s LeadiD. By using this website and submitting your information, you agree to the use of this technology.
The owner of this website is not a lender, nor are they affiliated with any lending institution. We do not accept loan applications or participate in any lending-related activities, such as making credit decisions, arranging loans, or managing loan payments. Submitting your information through this site is simply a request to be matched with financial service providers who may be able to assist with your financial needs. These providers are solely responsible for evaluating your credit application, verifying your information, and making independent credit decisions.
The services offered on this website are purely administrative in nature (commonly known as “lead generation”) and are provided to you at no cost. Lenders and other financial service providers compensate us for connecting them with consumers seeking financial services. This often operates on a competitive bidding system, similar to Google AdWords, where the provider offering the highest bid is connected with the consumer.
In certain instances, you may have the option to connect with a tribal lending entity (“TLE”). Please be aware that TLEs operate under tribal and specific federal laws, exempt from state laws, including those related to interest rate limits. If you choose to engage with a TLE, it is important to understand that their rates and fees may be higher than those of state-licensed lenders. Furthermore, TLEs may require you to resolve any disputes within a tribal jurisdiction. It is essential to carefully review and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to decline any loan offer that you cannot afford to repay or that contains unacceptable terms.
By submitting your information via this website, you authorize the owner of this website and its network of available lenders to do a credit check,
By submitting your information through this website, you consent to allow us and our network of lenders to conduct a credit check, which may involve verifying your Social Security number, driver’s license number, or other forms of identification, as well as evaluating your creditworthiness.
These credit checks are typically conducted through major credit bureaus such as Experian, Equifax, and TransUnion, but may also include alternative credit reporting agencies like Clarity, DataX, or others. You also authorize us to share your information and credit history with our network of lenders and other relevant service providers.
Our lenders provide loans with Annual Percentage Rates (APRs) of 35.99% or lower. For eligible consumers, the maximum APR (including interest rates, fees, and other associated costs) is capped at 35.99%. All loans are subject to approval by the lender, based on their individual underwriting standards.
Example: For a loan of $4,300.00 with an APR of 35.99%, repaid over 30 monthly installments, the monthly payment would be $219.36, and the total amount payable would be $6,581.78. Loans have a minimum repayment period of 12 months and a maximum of 30 months.
Please note that this service is not available in all states.
Lender’s Disclosure of Terms
When a lender chooses to extend a loan offer to you, they are legally obligated to provide documentation outlining all fees and interest rate information associated with the loan. This includes any potential charges for late payments, as well as the terms for refinancing, renewing, or rolling over your loan, if permitted by law. Loan fees and interest rates are determined solely by the lender or financial service provider, based on their internal policies, underwriting criteria, and applicable legal requirements. We have no knowledge of or control over the specific loan terms offered to you.
The Impact of Late Payments on Your Credit Score
It is important to be aware that missing a payment or making a late payment can have a negative impact on your credit score. To protect yourself and your credit history, ensure that you only accept loan terms that you are confident you can repay. If you anticipate being unable to make a payment on time, contact your lender immediately to discuss available payment options.
