Frequently Asked Questions

When you come into your local Alford Finance Inc branch to complete your loan, you’ll review the terms of your loan and set up the payment option that works best for you. As part of the closing process, you’ll need to bring a number of documents with you. These include:

1. Picture ID with signature (drivers license, state issued ID or passport)
2. Address verification (Most recent power bill, water bill, etc)
3. You may be asked to bring additional information, including the following:
   • Phone numbers of references
   • List of Business property or vehicle title to use as collateral
     

Requirements are different from state to state. Be sure to call your local Alford Finance Inc branch to get a complete listing of documents you will need to provide.

There are several things we consider when reviewing your loan application and determining whether you qualify for one of our Business loans.

Your Age: You need to be at least 18 years old. The minimum age in Alabama is 19 years old.

Your Financial History: Except in limited circumstances.

Your Financial Stability: You need to have the ability to make the monthly payments required to pay off your loan. That money can come from work income, retirement income, Social Security income, or other sources.

At Alford Finance Inc, walk into one of our branch locations, and within about an hour, we take your application, process it and write you a check. It’s simply that easy!

Customers can make a payment on their loan in 3 different ways: Online, over the phone, or you can visit your nearest branch to make a payment.

• Online: Visit the Alford Finance Inc Payment portal to schedule a one-time payment, or set up future recurring payments. Payments made prior to 5:00 pm Eastern / 2:00 pm Pacific will be credited to your account as of the current business day. Payments made after 5:00 pm Eastern / 2:00 pm Pacific will be credited to your account on the next business day.
• Over the Phone: Please call your local branch to make a payment at any time during normal business hours to have your payment credited as of the current business day. Or call (380) 213-1281 24/7.
• At the Branch: Please visit your local branch to make a payment at any time during normal business hours to have your payment credited as of the current business day.

Real estate investors who don’t qualify or don’t want to deal with the requirements of traditional bank loans.

Banks can lend at much lower rates but their criteria are much more stringent. Banks evaluate you, the borrower, as their primary qualification. Hard money lenders evaluate the investment property as our primary qualification, which allows us to move more quickly and requires much less documentation. Beyond that, we use the after-repaired value to evaluate your loan, something few banks will consider.

Loan sizes vary from state to state, depending on state law. In most states, we offer traditional installment loans ranging from $150,000 to $50,000,000, and even up to $120,000,000 in some states. Loan terms run from 4 to 48 months.

No. The loan process can be completed 100% online but you can visit any of our branches if you wish to apply in person.

Alford Finance Inc currently offers loans in 16 U.S. states. Including: AL, GA, ID, IL, IN, KY, LA, MO, MS, NM, OK, SC, TN, TX, UT, WI.

You will visit the Alford Finance Inc branch location you selected to apply for the loan. Find our convenient branch locations here.

If you need to borrow more money, talk to your branch service associate to see if you qualify.

When determining your interest rate, we take several factors into account including property location, borrower experience and loan to value. We’re happy to provide all borrowers with their interest rate sheet so they know exactly why they are paying their particular rate. Currently, rates range from 4% to 10% for standard hard money loans, and around 5% for construction loans.

We recognize that sometimes your life’s circumstances throw you a curve ball, and that there may be times when you experience difficulty in paying your loan payment.

Please call or visit your local Alford Finance Inc branch where you received your loan, to talk with us and let us know what’s going on with your situation. The earlier you get in touch, the more options we have to help you make your payments and get back on track. Together, we can find a solution that’s right for you. We’re here to help you.

A Business installment loan is one way to pay for the unusual or surprise expenses that we all face – from auto repairs to home improvement to seasonal expenses. A Business installment loan from Alford Finance Inc offers fixed rates and fixed payments. Rates are based on state regulations. The loan amount is based on various factors including your Business credit history, your Business income and other Business financial commitments.

If you need extra funds to cover unexpected expenses, a Business loan may be your best choice. Most lenders do not place limitations on how Business installment loan funds can be used, letting you use your loan for any purpose you need.

For example, you could use one of our Business installment loans to cover an emergency or unforeseen expense, like a car repair or surprise medical expenses. Or you might use a longer-term Business installment loan to cover a larger expense, such as a home improvement project.

You should always do your homework on the financial company you are considering, research their history and even consult with a financial advisor.

We all have sudden and unexpected expenses that come out of nowhere. They’re hard to plan for with tight monthly budgets. When this happens to you and you don’t have the money, an installment loan can be a sensible and convenient option to provide the needed cash.

One of the main benefits of an installment loan, and a major advantage over a payday loan, is that the repayment schedule is consistent with equal monthly payments. This consistency gives you peace of mind in controlling your budget, making it easier to get out of debt and plan for a stronger financial future.

Because installment loans have a consistent and equal monthly repayment schedule, you won’t be trapped in a never-ending payment cycle of debt like many payday loans may become.

Business installment loans have a clear repayment schedule and finance rate to help you calculate the true cost of your Business loan. When used responsibly, installment loans can be an excellent option to get fast money if you’re in a tight or stressful financial situation.

Get an installment loan of up to $12,000 in your account as soon as the same business day from Alford Finance Inc. Your monthly payments are fixed in equal payments over a set period of time. A Alford Finance Inc Business loan comes with a fixed rate and multiple payment options. It’s a consistent way to manage your budget.

Our customers use our Business installment loans for many reasons, working capital, business expansion and even wholesale. A Business installment loan from Alford Finance Inc helps you:

1. Get your money quickly. You can get your money as soon as the same day.
2. Escape any surprises! There are no hidden fees and no penalties for paying off your loan early.

No. At Alford Finance Inc, we only offer Business installment loans. Payday loans only carry you until your next payday, when the repayment process begins. With a Alford Finance Inc Business loan, you have the same monthly payment amount, your fixed interest rate will not change and the term of your loan is set from the beginning. Payday loans can charge you up to 700% APR. According to the Consumer Financial Protection Bureau, “the majority of all payday loans are made to borrowers who renew their loans so many times that they end up paying more in fees than the amount of money they originally borrowed.”

Alford Finance Inc provides our customers with Business installment loans for a variety of Business needs. Our loans do not have balloon payments and are not payday loans. We offer loans with regularly scheduled equal monthly payments. Our loan amounts are based on factors such as your credit history, your income and your other financial obligations.

Alford Finance Inc can offer loan approvals even if you have less than perfect credit. We work with our customers on an individual basis, and set up payment terms that you can live with. You’re much more than a credit score number to us. That’s why we’ve served over 55 million happy customers since 1962.

Yes! Our goal is to help you get the money you need and establish an affordable and realistic monthly payment schedule. We offer equal monthly payment installments up to 48 months.

Yes, we do check your credit score. When you complete an application for a Alford Finance Inc Business loan, there are a number of things we check when making a decision. You will need to provide your name, address, Social Security number, income and other Business information.

Yes, we report all credit transactions once a month to Equifax, Experian and TransUnion.

Contact Customer Service at info@alfordfinanceinc.com or at your local branch. Or you can make a payment over the phone at: (380) 213-1281 .

To set up an account, visit the Alford Finance Inc Payment portal. Once there you’ll follow the easy step by step directions, and enter your credentials to authenticate and access your Alford Finance Inc account. Our easy and convenient payment portal allows you to set up recurring payments, as soon as you set up your Online account. Please wait 24 hours after opening your loan at the branch, to set up your Online payment account.

You can make payments Online, even set up automatic payments by visiting the Alford Finance Inc Payment Portal.

To use the Alford Finance Inc Payment Portal, you’ll need to (1) create an Online account, using your email address as your user-name, (2) go into your account and schedule a one-time payment, or set up future recurring payments.

Yes, you can make payments Online by visiting the Alford Finance Inc Payment Portal. Your payment can be by made by Debit Card (MasterCard, Visa) or by linking your Checking/Savings account. Please note that accounts could take up to 2 business days to reflect current amount due.

Yes, you can conveniently pay your monthly bill through a third-party provider using your checking account, or debit card. Call (380) 213-1281 and have your account information ready. You may also call an agent to make debit card payments during regular business hours.