Frequently Asked Questions

Your 1st Loan

Applying for another loan

Payment and Loan Extension

How do I ask for my first loan?

Enter bonsaifinance.com or use the calculator on the right of this page and follow these steps:

  • Choose the amount of money you want
  • Choose the time you want to return it in
  • Click “Get your credit now”

You must fill out a quick online loan application form with some personal and bank details.

What are the requirements to apply for a loan with Bonsai Finance?

You must meet the following requirements:

  • Be between 18 and 65 years old and reside in the US.
  • Have a bank account where the personal loan is to be paid and have a regular source of income that can be verified through bank account transactions.
  • Have a debit / credit card to collect, as a fallback solution, the reimbursement of the loan repayment.
  • Have an active cell phone that can receive calls and messages via SMS.
  • Not have a pending debt with Bonsai or other organization (s).
  • Not have any loan open with Bonsai (payday or personal loan)
  • Have no more than 3 applications rejected in the last month.
  • Have no more than 3 applications rejected in the last month.

What are the conditions of a personal loan?

At Bonsai, the conditions of the online personal loans are very simple. To apply for credit you should not be in bankruptcy, you should not have any open application or have breached a previous loan with Bonsai Finance.

How much money can I ask for?

If this is your first personal loan with Bonsai Finance, the maximum amount you can request depend on your accessibility criteria. We are responsible lenders, and we will never loan you more than you can afford.

What is the minimum credit I can apply for? What is the minimum time?

The minimum credit is of $100 for a minimum time of 6 months.

From where can I apply for my quick loan?

Only through our website.

Do I have to pay a high fee to apply for a loan?

No, there are no up-front fees to apply for a personal loan. Before approving your loan we will charge $5 to your account via direct debit to make sure you can repay the loan. When this first debit is cleared, the loan will be financed and we will reimburse for this charge.

Do I need to provide a guarantee to apply for a loan?

No.

How long will it take to receive an answer and to have the money in my account?

You will receive an immediate response. If you are granted the loan, you’ll have the money within the following 7 days.

Can I receive the money any day of the week at any time?

Once the online loan contract has been accepted, a transfer will be performed to the indicated account within the following 7 days.

Is it safe to apply for an online loan with Bonsai Finance?

Applying for a quick loan with us is always safe. We will always protect your personal information, and comply with the regulations of Standard Data Security for Payment Card Industry PCI SSC (Payment Card Industry Security Standards Council).

I am a business. Can I apply for a personal loan?

No. At Bonsai Finance only individuals may apply for personal loans.

Can I apply for a loan if I don´t have a cell phone?

No. You need to have a personal cell phone to apply for a loan with Bonsai Finance.

Why has my application been rejected?

Bonsai Finance uses fully automated technology that takes into account many factors. If you do not meet some of the previously mentioned requirements you will not be allowed to make a loan application.

Requirements:

  • Be between 18 and 65 years old and reside in the US.
  • Have a bank account where the personal loan is to be paid and have a regular source of income that can be verified through bank account transactions.
  • Have a debit / credit card to collect, as a fallback solution, the reimbursement of the loan repayment.
  • Have an active cell phone that can receive calls and messages via SMS.
  • Not have a pending debt with Bonsai or other organization (s).
  • Not have any loan open with Bonsai (payday or personal loan)
  • Have no more than 3 applications rejected in the last month.
  • Have no history of late payment of 7 days or more.

Can I apply for more than one loan at a time?

No. You can only have one active loan at a time. You will also not be able to apply for a loan online if:

  • You have debts pending with other financial institutions.
  • You have a debt pending with Bonsai money.
  • You do not have a minimum net monthly income of $500.
  • You are declared in bankrupcy.

Once I have paid my loan, when can I apply for another?

Immediately, through our website, and again selecting the amount and the time of return.

How do I repay my loan online?

At Bonsai Finance we act in a way that is as easy as possible for you to pay your loan on the deadline. It is for this reason that when you apply for a personal loan with us, we ask that you provide information about your debit / credit card.

From the moment in which you are granted the loan, you start to pay one monthly fee on the anniversary of the credit requested. Of course, if at any time you prefer to pay by bank transfer, you can also choose this option.

You can transfer your payment to:

Banco Santander, Account Number: 0049 0125 13 2710332515

Always remember to indicate in the payment or transfer concept: Credit Nº and ID.
Example: NºXXXXXXXX ID: 00000000X. You can find the credit number in your contract.

What happens if I am not able pay my monthly fee?

We offer a grace period for each monthly payment of 5 days. Late monthly payments will receive a penalty of 1% (fixed) by default. This 1% is calculated on the amount of outstanding loan at the time you apply.

Can a third party pay my loan with Bonsai Finance?

Yes, by bank transfer indicating the loan details and references.

They can transfer the payment to::
Banco Santander, Account Number: 0049 0125 13 2710332515

Always remember to indicate in the payment or transfer concept: Credit Nº and ID.

Example: NºXXXXXXXX ID: 00000000X. You can find the credit number in your contract.

Can I extend the loan payment period?

Unlike our payday loans, extending a personal loan payment period is not available.

Where can I check the status of my online loan?

As a customer you will have access at all times to your user account to view the status of your loan, or to extend the deadline to pay your loan at any time.

Can I cancel my loan?

At Bonsai Finance we offer the option of canceling the contract for your convenience.
Once the whole process of applying for a personal loan has been completed and approved, we give you within 2 weeks (14 days) if you change your mind about your application. If that happens, you have the option to cancel the contract with us.

To carry out a contract cancellation you must send an email to info@bonsaifinance.com to request cancellation of your loan. You will receive an application form for cancellation which must be completed, signed and sent back to info@bonsaidinero.es. info@bonsaifinance.com.

Can I repay the loan before the deadline?

If at any time within the period of monthly payments of your personal loan, you want to pay the total credit received, we give you the option to make an early repayment of your loan. Unlike our competitors, you can make this early repayment without any additional cost.