How much can I borrow? 

What is the Cost of a Loan?

We work hard to keep our fees simple, transparent, and as affordable as possible. Your borrowing fee depends on where you live, and it's split evenly across your scheduled payments.

Here’s a current breakdown of loan fees by state. If you're in a state with variable fees, the cost of your loan will be clearly shown before you accept it—no surprises. These rates are subject to change over time.

• In Alabama and Washington state, a Possible loan costs $15 for every $100 borrowed.
• In Alaska, a Possible loan costs costs $15 for every $100 borrowed plus a $5 loan origination fee. 
• In California, a Possible loan costs $17.65 for every $100 borrowed.
• In Arkansas, Arizona, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan,Mississippi, Montana, Nebraska, New Hampshire, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Virginia, and Wyoming a Possible loan costs $20 for every $100 borrowed.
• In Iowa, a Possible Loan costs $20 for every $100 borrowed up to a maximum of $60. You’ll pay whichever’s less.
• In Delaware, Missouri, Nevada and Texas, a Possible loan costs $25 for every $100 borrowed.
• In Hawaii the borrowing fee is not a flat rate.

Our goal is to make borrowing clear and fair. You'll always see your loan cost upfront, and you’ll have tools in the app to stay in control of your payments. 

Your total borrowing fee is divided equally over 4 payments. You’ll have around 8 weeks to repay your loan in full.

Need more flexibility? You have a 29-day grace period to adjust your payment dates using the Update Payment Dates feature in the app.

We’re here to support you. Use the grace period to give yourself breathing room if you need it.

What's Different About California Loans?

Possible’s loan product slightly differs in California due to state lending regulations. When you apply for a loan in California, you will first accept a single-payment loan. Then, you will be immediately presented with the ability to upgrade to an installment plan. The installment plan is designed to split your amount owed into 4 separate payments, to be repaid over the course of 8 weeks.

Before you accept your loan, you will be provided with the option to either accept or decline the 4 payment installment plan. If you didn't choose to convert to the Installment plan when you initially accepted your loan, you can still convert it after the fact. To do this, you'll just go to your Dashboard and click "I Need More Time".

You'll then see the option to "Accept Installment Plan".

If you run into any issues converting your loan, just send us a request through the Contact Us form in the app! For security purposes, you will be required to verify the last 4 digits of your SSN and Date of Birth when contacting customer support for assistance.

*Please be aware: Your loan cannot be converted to an installment loan if your single payment is due within 1 business day, or if it has already begun processing. 

Additionally, your loan cannot be converted to an installment loan if a single payment was attempted and returned.

If you need assistance converting to an installment loan, please reach out using the Contact Us form as soon as possible. Payments initiate 1 business day prior to the payment due date. We cannot make changes to the payment or convert your loan, once payment has been initiated.

When you upgrade to a 4-payment installment loan, your on-time payments will be reported to TransUnion and Experian in an effort to help boost your credit score!

How Do I Access My Loan Documents?

Have you ever wanted to see your loan agreement AFTER you’ve taken out a loan? Well, in the Possible app, you can! Follow the instructions below to view your loan agreements on current and past loans.

1. Log in to the Possible App

2. Tap on the Menu button in the top left corner (the waffle icon)

3. Tap on Loan history & documents towards the end of the list

4. You will see a list of your loans/cards with links to agreements. Choose which product and agreement you would like to view and tap on that link to view a pdf version of the agreement