An installment loan in Mississippi can range in size from $200.00 to $2,000.00 and is repaid in multiple installments up to one year. 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 Mississippi
- A verifiable, regular source of income
- A valid checking account in your name
- A valid phone number
- An active email address
How it Works:
- Apply Online.
- Receive an approval.
- Receive funds typically the next business day.
- Repay over your scheduled loan term.
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 – such as a copy of your pay stub.
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. Late fees and 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:
| 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. |
| 300.10% | $364.73 | $495.00 | $859.73 |
Your Payment Schedule:
| Number of Payments | Amount of Payments | When Payments are Due |
|---|---|---|
| 1 | $85.97 | 10/27/2020 |
| 2 | $85.97 | 11/10/2020 |
| 3 | $85.97 | 11/24/2020 |
| 4 | $85.97 | 12/08/2020 |
| 5 | $85.97 | 12/22/2020 |
| 6 | $85.97 | 01/05/2021 |
| 7 | $85.97 | 01/19/2021 |
| 8 | $85.97 | 02/02/2021 |
| 9 | $85.97 | 02/16/2021 |
| 10 | $86.00 | 03/02/2021 |
In the example above, the Lender is owed the principal sum of $500.00 plus applicable origination and handling fees as allowed by the state of Mississippi. The $5.00 origination fee is deducted from the loan proceeds and is included in your principal balance. A handling fee not to exceed 25% monthly will accrue daily on the unpaid principal balance of this Loan, beginning on the Effective Date.
| 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. |
| 303.82% | $257.07 | $295.00 | $552.07 |
Your Payment Schedule:
| Number of Payments | Amount of Payments | When Payments are Due |
|---|---|---|
| 1 | $110.41 | 11/12/2020 |
| 2 | $110.41 | 12/11/2020 |
| 3 | $110.41 | 01/12/2021 |
| 4 | $110.41 | 02/12/2021 |
| 5 | $110.43 | 03/12/2021 |
In the example above, the Lender is owed the principal sum of $300.00 plus applicable origination and handling fees as allowed by the state of Mississippi. The $5.00 origination fee is deducted from the loan proceeds and is included in your principal balance. A handling fee not to exceed 25% monthly will accrue daily on the unpaid principal balance of this Loan, beginning on the Effective Date.
Governing Law:
Boost Finance is a state-licensed regulated lender in Mississippi holding a Credit Availability License. Loans are funded by CMX Finance, LLC dba Boost Finance and governed by all applicable laws. Please call the Mississippi Department of Banking & Consumer Finance at 601.321.6901 for license verification.
View the Mississippi Credit Availability Act Pamphlet.
Questions or complaints should be directed to the state's regulatory agency.
If you have any questions, please contact us.