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Frequently Asked Questions – Application Process

You may choose to receive your loan in one of the following ways:

  • By direct deposit ‐ Get your funds deposited directly into your checking or savings account.
  • In person ‐ Receive a check at the branch during the loan closing.

Start your loan application now and you could receive your funds the same day your loan is approved.

Before you close your loan, OneMain will need you to provide the following documents:

  • A copy of a valid, government-issued ID (e.g. driver’s license or passport)
  • Proof of residence (e.g. a driver’s license with your current address, a utility bill, or a signed lease)
  • Proof of income (e.g. paystubs or tax returns)

We may ask for additional items based upon your unique situation. Ready to apply? Start your loan application now.

Loan decisions are made based on a variety of factors including credit history, income, expenses, and availability and value of collateral (if applicable). Each customer’s loan terms are offered based on these factors and the customer’s ability to repay so that each customer can make a decision based on their unique situation and needs.

Yes. You may be able to receive a larger loan by reapplying with a co-signer and/or with collateral of sufficient value. Call us today at 1-800-961-5577 to speak with a loan specialist and discuss your options.

If your application was turned down, you will receive a letter by email or physical mail explaining that your loan is declined and instructions for obtaining specific reasons behind the decision.

Examples of accepted collateral include:

  • Automobiles
  • Trucks
  • Motorcycles
  • Boats
  • Campers
  • RV's

All collateral will undergo appraisals to determine whether it is of sufficient value.

Additionally, vehicles used as collateral must be insured against physical damage for the term of the loan.

Active duty military, their spouse and all dependents covered by the Military Lending Act may not pledge any vehicle as collateral.

Please contact your local branch for more information regarding collateral.

Because the collateral is securing your loan, the collateral must be insured in case it needs to be replaced or repaired. The full coverage ensures that the entire value of the collateral is protected.

If you have more questions about this topic, call us today at 1-800-961-5577.

Call us today at 1-800-961-5577 or visit your local OneMain branch and notify the manager of the damage. Your loan expert will explain the next steps dependent upon the type of collateral that was used to secure your loan.

The amount of time to apply for and receive a loan varies based on what time you submit your application, the number of documents required in order to approve your application, and how long it takes to receive those documents, among other factors.

Average lengths of time for the online application process (may vary depending on your circumstances):

  • Completing the application and receiving a decision: Less than 10 minutes.*
  • Signing the agreements and receiving funds by Check: If approved, as soon as the same day.
  • Signing the agreements and receiving funds by Prepaid Debit Card: As soon as the same day if approved. Prepaid card disbursements are limited to the first $10,000 of the loan amount and are available immediately upon activation of the prepaid card. Prepaid cards are not available in all locations and are not available to active duty military, their spouse or dependents covered by the Military Lending Act.
  • Signing the agreements and receiving funds by Automated Clearing House (ACH) disbursement: ACH disbursements can take approximately one to two business days depending on the time of loan closing.

* May take longer depending upon the amount of time required for the verification process.

Ready to apply? Start your loan application now.

We need to evaluate your unique situation to determine if you qualify for more money.

Call us today at 1-800-961-5577.

As of October 1, 2016, Springleaf Financial and OneMain Financial are a combined company known as OneMain.  All Springleaf Financial loans open as of that date are now reported to the credit bureaus under the OneMain name.  Please note the terms of your loan, including balance, monthly scheduled payment, and due date, are not affected by this change.

This is a result of Springleaf Financial’s purchase of OneMain Financial from Citi and the conversion of your account onto a new servicing system in Spring 2017. The original tradeline, in most cases reported under the name ‘OneMain Financial,’ includes the account history from the origination date through the date of conversion, with a final balance of $0 and final status of ‘Closed/Transferred.’  The new tradeline, reported under the name ‘OneMain,’ includes the account history from the conversion date forward, and reflects the current status of the account.  Although the account number may be different, both tradelines show the same opening date and the same original balance.  The OneMain tradeline is a continuation of the OneMain Financial tradeline, not a new extension of credit.

OneMain works with multiple online loan shopping services who refer applications to us. When OneMain receives an application from one of these services, we obtain a consumer report, which results in an inquiry being placed on that report.  If you see a OneMain inquiry on your consumer report that you do not recognize, please consider whether you applied with an online loan shopping service during the applicable timeframe.

OneMain reports account information to the Credit Reporting Agencies after each month end. For instance, in September, we report the account status as of August 31st. OneMain account updates are typically posted to customers’ credit reports by the Credit Reporting Agencies around the 10th-15th of each month.

Have another question about the application process?