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Short-Term Loan

Need financial assistance for an unexpected expense? Apply for a flexible, Short-Term Loan. We don’t require a credit report. And with our lightning-fast, single-visit approval, you'll have access to your money right away.

I needed help with the unexpected, and ESL was there with a Short-Term Loan.

Visit your local branch to apply today.
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  • Features & Benefits
    • Borrow from $250 to $500.
    • No application fees or hidden fees.
    • No credit report required.
    • Fast, convenient approval process completed while you wait.
    • Access your money just as soon as you’re approved.
    • No minimum duration to repay and no prepayment penalties. The maximum period for repayment is six months.

    Now you know why an ESL Short-Term Loan is a great way to get the cash you need quickly at an affordable rate. And since your payment history is reported to the credit bureaus, timely repayment can improve or build your credit history.

    To learn more, visit any of our conveniently located branches and talk with an ESL representative today.

     
  • Specifics

    Requirements:

    • An ESL member with a savings account at ESL for the past 90 days.
    • At least 18 years old.
    • Provide verifiable income (requires one of the following):
      • Two most recent pay stubs (one within the last 30 days)
      • Current year Social Security award letter
      • Current year pension award letter
      • Proof of other retirement income
    • Direct deposit into an ESL savings or checking account with at least one direct deposit made in the last 30 days.

    Additional Requirements:

    • Currently do not have an open ESL Short-Term Loan.
    • Borrow from $250 to $500.
    • Maximum of three ESL Short-Term Loans in a six-month period.
    • Positive balances in all ESL savings or checking accounts.
    • ESL loan payments are current (not more than 30 days past due).
    • Not in bankruptcy or in the process of filing for bankruptcy.
    • Only one borrower on loan.
     
  • Rates

    Short-Term Loan

    Term in Months
    Annual Percentage Rate (APR)
    Term in Months 6 months
    Annual Percentage Rate (APR) 27.99%

    Rates accurate as of

    Actual rates may vary.
    Payment example on a six-month fixed rate loan amount of $500 with 30 days to first payment at 27.99% APR as of 7/7/17, six monthly payments of $90.27.

     
  • Fees
    Potential Loan Late Fees After Opening Your Account

    Loan late fees vary. Below are the late fees for new loans issued. Contact an ESL Representative by phone at 585.336.1000 or 800.848.2265, use chat banking, or visit an ESL branch to determine your late fee for a loan issued previously.
     

    Short-Term Loan
    Late fees of 5.0% of the overdue payment of interest and principal are charged if we have not received the full monthly payment 15 calendar days after the scheduled due date.
     
     
  • How to Apply
    1. Come in to any ESL branch to meet with an ESL representative (online and phone applications not available).
    2. Provide verifiable income (requires one of the following):
      • Two most recent pay stubs (one within the last 30 days)
      • Current year Social Security award letter
      • Current year pension award letter
      • Proof of other retirement income
    3. Sit back and relax, because we’ll complete the fast approval process right while you wait.

    It’s a great borrowing solution. It’s easy to apply. And it comes with the award-winning service you expect from ESL.

    It’s all part of our effort to answer to you.