Purchasing Power provides immediate access to over 40,000 name-brand products, allowing you to acquire the items you want now and pay for them over time directly from your paycheck. This eliminates the need to use cash, savings, credit cards, or traditional loans.
How to Apply for a Purchasing Power Loan
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Go To The Website. Visit the official Purchasing Power website to begin your application process.
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Click Get Started. Locate and click on the "Get Started" button prominently displayed on the homepage.
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Enter Your Employer. Provide the name of your employer or the organization you are associated with. This information helps in verifying your eligibility for the loan program.
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Answer Employment Status Questions. Answer various questions related to your employment status, including details such as your employer's name and your job title. This step ensures that your employment details are accurately recorded.
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Enter Email Address And Password. Enter a valid email address that you will use for communication and create a secure password for your account.
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Review And Accept Terms And Conditions. Carefully read through the terms and conditions of the Purchasing Power program. Ensure that you understand all the policies and requirements before proceeding.
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Click On The "Join For Free" Button. After reviewing the terms and conditions, click on the "Join For Free" button to complete the registration process. This will finalize your application, and you will be officially registered with the Purchasing Power program.
Conditions
Loan Term. The loan term for Purchasing Power loans can extend up to 12 months, providing flexibility in repayment options.
APR. The Annual Percentage Rate (APR) for Purchasing Power loans is 0%, making it a cost-effective borrowing option as there are no additional interest charges.
Loan Amount. The loan amount can go over $1,000, allowing borrowers to access a significant sum to meet their financial needs.
Requirements
Minimum Annual Income. You must earn at least $16,000 a year to qualify for a Purchasing Power loan. This ensures that you have a stable income to support the repayment of the loan.
Bank Account Or Credit Card. You must have a bank account or credit card. This is required to be used in case of non-payment via payroll deduction, providing an alternative payment method.
Paycheck Stub. You must upload a copy of your paycheck stub. This document verifies your employment and income details, which are crucial for the loan approval process.
Minimum Age. You must be at least 18 years of age to apply for a Purchasing Power loan. This is a standard requirement to ensure that applicants are legally capable of entering into a loan agreement.
Reasons for Rejection
Insufficient Income. If your annual income is below the required minimum of $16,000, your application may be rejected due to an inability to meet the repayment obligations.
Lack Of Required Documentation. Failure to provide necessary documents, such as a copy of your paycheck stub, can result in your application being denied.
No Bank Account Or Credit Card. Not having a bank account or credit card as an alternative payment method can lead to rejection since it is a mandatory requirement.
Employment Verification Issues. Inaccurate or unverifiable employment information, such as discrepancies in your employer's details or job title, can cause your application to be rejected.
Age Restriction. Applicants under the age of 18 are not eligible for the program, and any application from individuals below this age will be automatically rejected.
