-Signature Loans and Car Title Loans-
Making loans in Utah since 1974
In order to get a signature loan, you must first set up an account with us. In order to be eligible to set up an account, we have a few basic requirements:
- You need to have a full time job (6 months or more) or some other reliable source of income such as social security or retirement and you need to
earn a minimum of $1,000 per month gross income.
- In most cases you will need to have an active checking or savings account on a bank that has a branch in the local area. If you don't have an active
checking or savings account, we may still be able to give you a loan, but the amount we can loan you will be limited.
- You can not currently be in an active bankruptcy.
- You must live in the general area near one of our locations.
Assuming you meet the basic requirements listed above, you will need to come to one of our offices to fill out some paperwork, and you will need to bring
the following items with you :
- A copy of your most recent pay stub, or if your source of income is Social Security or Retirement, you will need to bring a copy of your Award Letter
(this is the letter that the State sends you once a year which details your monthly income payments)
- A copy of your most recent checking or savings account statement. This statement needs to cover the last 30 days of account history. This
statement can either be the one that your bank mails you each month, or you can print out the information online, if you do online banking, or you can
simply go to your bank and request a printout showing the last 30 days of account history.
- A state issued photo ID or Drivers' license
How it Works:
Once you've set up an account with us, we simply create a contract for the loan, which you will then sign, agreeing to pay back Checkpoint One the amount
we have loaned you, plus interest for the time you use. In exchange, we provide you a check which you can cash immediately.
The process is incredibly quick and easy, and takes only a few minutes.
Our signature loans are set up as a 30 day loan.
We charge 304.1667% per year (83 1/3 cents per day for each $100 borrowed). Our loans are set up as 30 day loans. However, you can always pay off
your signature loan early and our fee will be prorated, and you will only be charged for the actual number of days used. There is never an early payoff
See the examples listed elsewhere on this page to get an idea of the fees for different loan amounts.
In the event your loan comes due and you would like to extend the due date for an additional 30 days, you can do so by paying the interest for the first 30
days, and we will extend the due date forward another 30 days.
Checkpoint One can easily accommodate a principle paydown on our loan and in fact encourages you to pay more than just the interest if extending you
loan. A paydown normally requires paying the interest up to date, and signing a new contract which reflects the new loan amount.
The amount we will loan you depends on several factors:
- How long you've had your current job.
- How long you've had your checking account.
- If you have had any bankruptcies that have closed within the last 3 years.
- How many (if any) overdrafts you may have on your most recent checking account statement.
- Your gross monthly income.
Generally speaking, we will loan you up to 25% of your gross monthly income assuming you have had your job and checking account for at least 6 months,
and you have no more than 5 overdrafts on your most recent checking account statement.
You can generally create a signature loan for an amount equal to twenty-five percent of your monthly pay if you have had a full-time job and checking
account for at least six months. If you have had your job or checking account for a shorter period of time, we will usually still make you a loan, but it will be
for a lesser amount. (Call one of our representatives for exact amounts.) In no case can you obtain a loan for more than one thousand dollars, and
generally the first loan we will extend to you cannot be for more than five-hundred dollars for at least the first thirty-four days from the first date that you set up
a new account.
Clients who set up an account with Checkpoint One will receive an account limit for the maximum amount for which they are qualified. We do not set a
minimum loan amount requirement. You are welcome to borrow any amount that you need up to your personal loan limit as long as your account remains
in good standing. (Periodic adjustments may be made to your account limit, and may be initiated by Checkpoint One or at your request-- Inquire for details)
Checkpoint One- Corporate
324 N Main
Tooele, UT 84074
What is a Signature Loan?
A Signature Loan can be a quick and easy solution to a short-term financial problem. Have
you ever found yourself short on money when your payday is still days away? Has your
budget been stretched thin by unexpected expenses such as car repairs, past due bills, or
medical expenses? Have you ever needed money to avoid costly bounced check fees? A
Signature Loan allows you to borrow money for up to 30 days by simply signing a contract
agreeing to pay back the money you have borrowed plus a fee. A signature loan allows you
to have the money you need, when you need it.
1. $100 borrowed and paid back early-
* 1 day used would cost only $0.83
* 5 days used would cost only $4.17
* 7 days used would cost only $5.83
* 10 days used would cost only $8.33
* 14 days used would cost only $11.67
* 30 days used would cost only $25.00
2. $300 borrowed and paid back early-
* 1 day used would cost only $2.50
* 5 days used would cost only $12.50
* 7 days used would cost only $17.50
* 10 days used would cost only $25.00
* 14 days used would cost only $35.00
* 30 days used would cost only $75.00
Post-dated check loans and Car Title loans
are designed to be used for short-term
financial needs only, not as a long-term
financial solution. Customers with credit
difficulties should seek credit counseling.