How It Works

When traditional banks aren’t an option, a Line of Credit from Fora may be right for you. Our online application makes applying for credit easy and doesn't require visiting a storefront or branch.

Apply today to see if you qualify for a personal Line of Credit between $1,000 and $10,000. Submitting an application will not impact your credit score! If approved, a hard inquiry will appear on your credit report. This means that your credit report will indicate you have a Line of Credit from Fora⁴.

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Submit your Application

Getting started is simple and the process only takes minutes to complete. Complete the application to find out if you qualify.

Get Approved¹

Complete the approval process, which includes verifying your bank account and income information, as well as reviewing the terms of the agreement.

Draw your Funds

Withdraw a little bit or all of it. If you’re approved, request a draw and get your money deposited directly into your bank account the same business day².

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Safe & Secure Borrowing

We’re committed to using industry best practices to protect your data and privacy. Trust your personal information is secure with our use of 256-bit Advanced Encryption Standard (AES-256).

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Flexible Access to Cash

You can have ongoing access to your credit limit when you need it - make draws, repay, and draw again online from your available credit³.

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Dedicated Customer Support

Sometimes it’s easier to get in touch with someone and we’re here to help. Fora’s team is friendly, knowledgeable and available to connect with you whether it’s by phone, chat, or text.

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What to Expect with a Line of Credit from Fora

The annual interest rate for a Line of Credit from Fora starts as low as 19.9%⁵. You only pay interest on what you draw, not your entire credit limit.
If you have an outstanding balance, you will need to make Minimum Payments which are typically due on your pay dates.
Each Minimum Payment includes:
- Interest charged on your outstanding principal balance for each day of your billing cycle; and
- A contribution towards your principal, based on your income frequency, to help make a dent in your balance.

The exact amount of each Minimum Payment and the corresponding due date will be outlined in your statements.

Minimum Payment Examples

To demonstrate what is included in each Minimum Payment on a Line of Credit from Fora, let’s look at examples of a customer with a bi-weekly income frequency (14 days apart) who has an outstanding principal of $2,000 for two billing cycles.

Example 1: Annual Interest Rate of 46.9%.

Billing Cycle Example	Outstanding Principal Balance	Principal Contribution (A)	Interest (B)	Minimum Payment Due (A+B)	Remaining Principal Balance
1	$2,000.00	$20.00	$35.98	$55.98	$1,980.00
2	$1,980.00	$19.80	$35.62	$55.42	$1,960.20

Example 2: Annual Interest Rate of 19.9%

Billing Cycle Example	Outstanding Principal Balance	Principal Contribution (A)	Interest (B)	Minimum Payment Due (A+B)	Remaining Principal Balance
1	$2,000.00	$20.00	$15.27	$35.27	$1,980.00
2	$1,980.00	$19.80	$15.11	$34.91	$1,960.20

Disclaimer: In these examples, we assume the customer makes a draw at the start of a billing cycle, only makes Minimum Payments and no additional draws are requested on their Line of Credit. This example is for illustrative and informational purposes only. The actual Minimum Payment(s) due on your personal Line of Credit will depend on your individual account circumstances and activity.