Our Credit Builder Loan is perfect for those looking to build, or repair, their credit score and credit history. With this loan, you can borrow a small amount, without a credit check, and make affordable monthly payments. These payments are reported to the credit bureau, so timely payments will reflect positively and help to improve your score.
A loan application and proof of income is required. You must have direct deposit posting to your State CS account before receiving Credit Builder Loan funds.*
First Credit Builder Loan:
- $500 loan amount
- 12-month term
- 16.00% APR
- Monthly payments of $45.37
After you have made at least six payments and repaid your first credit builder loan in full, you may apply for a second, larger credit builder loan.
Second Credit Builder Loan:
- $1,000 loan amount
- 12-month term
- 14.00% APR
- Monthly payments of $89.79
*Direct Deposit requirement may be waived for established members actively using State CS accounts and services.