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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Purchasing Power's loan



If you want to be a customer of Purchasing Power, you must be at least 18 years old and have been an active and full-time employee of the University System of Georgia for at least 12 months. Your annual income must be a minimum of $20,000 a year, and also, you need to have a credit card or bank account if you won't pay via payroll deduction.

Application details

The specific documents employees will have to upload usually depend on where they work (kind of organization). But typically, Purchasing Power customers have to upload a copy of a paycheck stub. If they place phone orders, then they will need to sign an online authorization form. All details about required documents employees can obtain through My Account.

How to apply for a loan

After pushing the Get started button, a user will see the same form as after clicking Sign Up Today. After filling out the form, users will get access to many brand-name products and more.


What is a Purchasing Power order packet?

An order pack is how Purchasing Power sends customers the details related to their orders. The order packet includes the customer's receipt, complete contact details, and information about documents.

What document do I need to send to Purchasing Power?

You need to send a copy of a paycheck stub.

How long does Purchasing Power take to get approved?

If the client submits an allotment confirmation from an online payroll system, it takes two business days. If Purchasing Power finds some errors in your paperwork, you will get an email with some instructions for correction. If you upload corrected paperwork for the second time, then Purchasing Power takes 1-2 additional business days to review the corrections.

Calculate loan payments at Purchasing Power

Purchasing Power calculator will allow you to calculate an approximate payment schedule for the loan

Purchasing Power calculator
Interest rates are given in accordance with the rates of the Purchasing Power in Washington, D.C. as of 03.10.2022
Loan amount

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500 $
20000 $
Loan term

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What to focus on before applying for a loan with Purchasing Power

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Purchasing Power and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Purchasing Power’s reviews by October 2022
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