FedEx employee loans may be the right solution for you if you are employed by this company and looking for additional money to cover certain expenses.
There are lots of lenders that will provide loans for FedEx employees in the same way as they will do this for people working for other companies, and there are financing options that have been specially created for those working for FedEx.
In this article, we will go through all options available for you.
Getting FECCA Loans
Such loans are provided by FECCA (FedEx Employees Credit Association).
It is possible to apply for different types of loans with this association, for instance, to buy a house, auto, and for other purposes.
As for personal loans, the following options are available:
- Line of credit;
- Signature loan;
- 12-12-12 specialty loan;
- Freedom loan.
If you apply for a line of credit, you will get the money in a certain amount on an ongoing basis.
All in all, you can apply for up to $10,000.
You will get the money as a direct deposit in your account as agreed.
A signature loan is an unsecured loan (no collateral required).
All in all, you can borrow up to $20,000 and for up to 60 months.
12-12-12 specialty loan is a good option for those who need to borrow $1,200 for 12 months at an interest rate of 12%.
As for freedom loan, it allows you to get $250-$750 for up to six months.
It is a good alternative to payday lending.
In order to apply with this association, you must be its member, which is possible for:
- FedEx employees/retirees;
- Their family members (children, spouse, parents, siblings, grandchildren, grandparents);
- Their household members.
Applying with Other Lenders
If for some reason, you do not want to use FedEx employee loans provided by FECCA, you can apply with other lenders operating online.
There are lots of lending businesses that you will be able to easily find on the Internet.
All lenders prefer to deal with people with a stable income, so if you have been working for FedEx for at least three months, your chances of being approved are quite good.
It is also important to check if your salary level matches that required by the lender.
Please note that your credit score will be likely considered as well; however, there are lenders willing to give cash advance for FedEx employees even despite their bad credit.
This may require paying a higher interest rate.
There are also lenders who will mainly consider your salary and employment history, so they may offer you good conditions even if your credit score is less than perfect.
Personal, Installment and payday loans
It is not different to get FedEx loans because there is FECCA that you can apply with.
Also, there are lots of other online lenders who will not mind lending you some money, knowing that you work for a large, reputable company.
To find the best offer, just compare the conditions and do not forget to check customer reviews on different lending businesses.
Don't waste your time. Request The Cash You Need Now!
Representative Repayment Examples
1. A 2 year loan of $5,000 with a max Annual Percentage Rate (APR) of 12.99% would result in 24 scheduled monthly payments of $238. Total amount of loan re-paid would be $5,704. Total Interest paid would be $704.
2. If you borrowed $2,000 over a 12 month period and the loan had a 3% origination fee ($60), your monthly repayments would be $189.12, with a total payback amount of $2269.44 which including the 3% fee paid from the loan amount, would have a total cost of $329.44. Representative 29.82% APR.
3. Loan amount $2,500, Interest rate 16.00%, Term 36 months, Fee 10.00%, Payment $87.89, APR 22.93%, TOTAL PAYMENTS $3,164.13, $914.13
Texas46Loans.com is not a lender – as such, we do not have control over the APR you will be offered. We display a Representative APR only as it is based on data offered from multiple lenders. The following represents sample rates, is for informational purposes only, and may not reflect the actual APRs offered by your lender or lending partner.