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An installment-payday loan in Illinois can range in size from $200.00 to $1,000.00, depending upon the applicant’s qualifications, and is repaid in multiple installments up to 180 days (six (6) months). Funds can be received as soon as the next business day, and pre-payment is available at any time with no penalty.

To be approved, you only need:

  • To be 18 years of age or older
  • To be a U.S. citizen or permanent resident
  • To be a resident of Illinois
  • A verifiable, regular source of income
  • A valid checking account in your name
  • A valid phone number
  • An active email address
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How it Works:

  1. Apply Online.
  2. Receive an approval.
  3. Receive funds typically the next business day.
  4. Repay over your scheduled loan term.

As required by Illinois law, all Illinois customers must have proof of income on file with Boost Finance prior to receiving a loan. When applying for a loan, please fax or email your latest pay stub, proof of your Social Security income, disability income, child support or alimony income for quick processing of your loan application. All materials must be received prior to completing loan process and may be sent via fax to 877.388.3282 or via email to CustomerService@BoostFinance.com.

Your application is received and instantly sent to a Boost Finance loan specialist for approval. Most applicants will be contacted within five (5) minutes after submitting their application. If you have already submitted your loan application and would like quicker service, you may contact a Customer Service Representative by phone at 855.217.3811 and they will be happy to serve you. Please note that all customers will need to speak to a Customer Service Representative during the application process to complete verification; this call must be completed prior to final loan approval. In certain instances, we may require that you supply additional information.

The finance fee charged for your loan will be clearly disclosed to you in terms of the dollar amount of interest and the APR according to the principles of Federal Truth in Lending law and regulations. For details on the specific rates/fees of your loan, please see your loan agreement, but we have provided examples below. Non-sufficient funds/returned item fees might apply as described in your loan agreement.

Please Note: You always have the option to pay the loan off in full with no pre-payment penalty. In fact, Boost Finance encourages the accelerated reduction of loan principal to reduce the total number of payments made by the customer, thereby reducing the overall cost of credit.

Installment Loan Example:

Standard $400 Monthly Loan with an effective date of November 2, 2020.
FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENT
ANNUAL PERCENTAGE RATE FINANCE CHARGE AMOUNT FINANCED TOTAL OF PAYMENTS
The cost of your credit as a yearly rate. The dollar amount the credit will cost The amount of credit provided to you or on your behalf. The amount you will have paid after you have made all payments as scheduled.
190.98% $246.88 $400.00 $646.88

Your Payment Schedule:
Number of Payments Amount of Payments When Payments are Due
1 $107.82 12/01/2020
2 $107.82 01/01/2021
3 $107.82 02/01/2021
4 $107.82 03/01/2021
5 $107.82 04/01/2021
6 $107.78 05/01/2021

In the example above, the Lender is owed the principal sum of $400.00 plus applicable handling and database fees as allowed by the state of Illinois. A handling fee not to exceed $15.50 per $100.00 of outstanding principal balance will be assessed at the beginning of each payment period, beginning on the Effective Date.

You cannot be prosecuted in criminal court to collect on an Illinois installment-payday loan.

Warning
This loan is not intended to meet long-term financial needs. This loan should be used only to meet short-term cash needs. The cost of your loan may be higher than loans offered by other lending institutions. This loan is regulated by the Department of Financial and Professional Regulation.

Interest-Free Repayment Plan
If you still owe on one or more payday loans, other than an installment payday loan, after 35 days, you are entitled to enter into a repayment plan. The repayment plan will give you at least 55 days to repay your loan in installments with no additional finance charges, interest, fees, or other charges of any kind.

Governing Law:

Boost Finance is a state-licensed lender in Illinois and subject to the state’s applicable laws.

View our Illinois license here.
View the Illinois Pamphlet.

Questions or complaints should be directed to the state's regulatory agency.

If you have any questions, please contact us.