If you’re a JCPenney employee, you’ll be happy to know they have a JCPenney loan for you. Most of us have some long-term as well as short-term goals that we aspire to achieve through our hard work and dedication. In order to aid ourselves in this process, we often resort to personal loans.
More often than not, the entire procedure of application and acceptance can be cumbersome and hectic. However, if you are an employee of JCPenney, the seemingly tedious task is much simpler, owing to the quality of employee loans that are offered.
Curated below is a detailed guide about everything you want to know about this loan including its diverse benefits and corresponding rates. Furthermore, there is a step-by-step guide to its online application procedure.
Features of the Loan
Access to these high-quality loans for JCPenney workers is given by Lendly. It is an innovative online platform that follows the blockchain model to simplify the process of borrowing money in times of need.
Owing to its blockchain structure, borrowing money through Lendly is extremely safe and secure as a processed transaction cannot be modified or erased after completion. Moreover, this loan empowers you to make your payments directly through your payroll provider.
Furthermore, the repayments rates are quite low and affordable. You get an exclusive opportunity to improve your existing credit score as well. Please note that these loans are not provided, promoted, or sponsored by JCPenney.
How to Get a Loan?
The underlying principle behind the JCPenney loans that are offered by Lendly is to support high-quality employees hailing from leading industries with high-quality loans. Therefore, there is a designated online portal that is designed for this purpose.
When you browse through the website, you will find a tab stating ‘Get Started’ on the top right corner of the webpage. Clicking on that will lead you to the online application form. Filling this simple application form will take hardly 5 to 10 minutes.
The first step in this process is to select your state of residence. You will find a drop-down menu asking you about the same wherein you will have to select the relevant option. Thereafter, click on ‘Continue’.
The next step requires you to enter your personal details accurately. After this, you will have to enter your employer’s details. You will find a drop-down menu, wherein you have to enter the first three alphabets of the company that you work for. Locate JCPenney among the list of companies and click on it.
Then, mention your month and year of joining, official email address, and choose a password.
In case you have any promo code, you can apply it here. Enter the captcha accurately and click on ‘Continue’. This will lead you to the next subsection that pertains to identity verification. Fill in the details as accurately as you can in order to avoid any chances of rejection.
Lastly, review your application and submit it for further processing. Your profile is activated hassle-free, immediately after you provided the required documents.
Fee and Interest Rate
The average loan amount that you can get is $1,000 for a period of 12 months, with the payment amount being approximately $57.29 to $70.07. Moreover, the exact numbers depend on the state of your residence along with your pay frequency. Furthermore, loans are repayable through payroll direct deposit.
The general rates of the loan are as follows.
- 83.38% to 199.00% APR
- 25 or 26 bi-weekly payments.
Eligibility Criteria
The eligibility criteria for the JCPenney employee loan is pretty standard and accessible for almost all employees.
- You have to be an employee of the company for six months or longer to match the borrowing terms of this employee loan.
- You have to check the availability of the lend borrowing services provided by Lendly in your state of residence.
If you match these two criteria, you are eligible to qualify for the employee loan.
Contact Details
Telephone
1 (833) 625-1280
Address
105 Sugar Camp Circle Dayton,
Ohio 45409, US.
Conclusion
If you are looking for a quick employee personal loan that gives you access to suitable borrowing options during times of need, you can explore the JCPenney employee loan. Remember to check out all your lending options before you apply.
Note: There are risks involved when applying for and using a loan. Consult the bank’s terms and conditions page for more information.