Illinois
Installment Loan
- Installment Loans from $600 to $3,000
- Same Day Funding Available
- Rapid Processing & Approvals
- Limited Requirements
- No Prepayment Charges
- Funds Deposited Directly into Your Checking Account
Illinois Installment Loans
for Federal Employees
Something unexpected could happen at any moment, and you might find yourself in need of extra cash to get over the hump.
Federal Employee Loans has provided allotment loans to federal employees and government workers in Illinois for years. When you need cash, we facilitate medium-term installment loans for non-military federal employees in Illinois including USPS, TSA, HHS, and VA workers.
You get the cash when you need it, and you can repay over a number of payroll deductions. You can go the full term of the loan, typically 6 months, or you can pay it off early with no penalty. The loan is yours, so you get to decide.
And our process is easy. We’ve streamlined our application, approval, and funding processes so once you complete and submit all loan documents via DocuSign, the money is deposited into your bank account often as early as the next day. Depending on how quickly you complete the necessary documents, you could receive your loan the same day!
It could be for emergency medical expenses, home repair or improvement, or you just need some time away. We’re there to help when you find yourself strapped for cash or just a little bit behind. Call us at Federal Employee Loans. We’re the fastest and easiest way to obtain the allotment loan you need to get you over a dry spell.
If you live in Delaware, Illinois, Mississippi, Missouri, New Mexico, South Carolina, Tennessee, Texas, Utah, or Wisconsin, check and see if we can provide a loan to the federal employees of the agency where you work. If we do, start filling out the loan application and get your cash as soon as tomorrow!
A Licensed
Firm
An installment loan is a medium-term loan, usually with a higher principal amount than short-terms loans. It is repaid gradually in installments over 22 payroll deductions (allotments) for a period of roughly 6 months. This loan may be repaid early at any time with no prepayment charges.
CANCELLATION RIGHT: YOU HAVE THE RIGHT TO RESCIND OR CANCEL YOUR LOAN. TO RESCIND OR CANCEL YOUR LOAN YOU MUST CALL US AT 800-818-1908 WITHIN THREE DAYS FROM THE DATE YOU ELECTRONICALLY SIGN THE NOTE.
Federal Employee Loans is licensed in Illinois by the Illinois Division of Financial Institutions
312-814-5145
FPR.ConsumerCredit@illinois.gov
https://www.idfpr.com/DFI.asp
Federal Employee Loans, LLC Complaint Information
Loan related:
Michelle Ocampo,
VP of Operations
855-236-1976
loans@federalemployeeloans.com.com
All other complaints
Anthony Yager, VP
855-236-1976
loans@federalemployeeloans.com
Illinois Rates & Terms
* Actual loan terms may vary based on applicant’s qualifications
** APR’s may vary based on calendar days between loan funding and
first payment as well as the State of residence of the borrower.
Loan
Amount
$600-$3000
Annual
Percentage Rate
36%
Loan Term- 12 Payroll Deductions (allotments)
Late Payment Fee- 5% of
the unpaid installment
payment up to $50
What It Costs?
The chart represents an illustrative example of the cost of a $600 loan. Please see your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan. If you have any other questions or would like more information, please ask. Make certain the questions are answered. Make sure you understand the terms and cost of your loan.
If you repaid biweekly through payroll allotments, you would make 12 payments of $54.55 and one payment of $54.51
With an actual installment loan, your repayment might look different that the example above. For instance, you may be able to borrow more money, or have a longer or shorter repayment period.
- APR
36% - Finance
Charges
$54.56 - Amount
Financed
$600.00 - Total
Payments
$654.71
Potential Fees
Application
Fee – $0
Return Payment
Fee – $25.00
Payroll Deduction Fee
(Allotment Processing)
$3.00 per payment
Late Payment Fee- 5%
of the unpaid installment
payment up to $50