Fig Loans


The original Fig personal loan started as a collaboration between Fig and United Way THRIVE in Houston. On October 14, 2014, we cold called 50 nonprofit organizations to learn more about how online payday loans in Texas affect people and communities. We wanted to speak to financial coaches who had first-hand experience working with payday loan customers. The only person to take our call was Jackie at United Way of Greater Houston and the rest is history!

Jackie explained that THRIVE is a collaborative of employers, community colleges, financial institutions and government agencies who focus on helping families reach lasting financial independence. We talked about our vision for the Fig personal loan and how it would be the first of many responsible financial products all geared towards helping people regain access to traditional credit sources.

Over the next 6 months, we worked with Amy, Dorian, Jackie and Rushka at United Way of Greater Houston to learn more about the problems caused by payday lending practices. But perhaps more importantly, we used this time to define the Fig Loan to be, in every way, a better loan for customers and communities. On March 18th of 2015, we presented the original Fig Loan to over 80 members of the THRIVE collaborative and asked if anyone would be willing to help us pilot this concept. Enter Richard from Family Services of Greater Houston (Family Houston)!

With support from Family Houston and United Way of Greater Houston, Fig Loans began offering installment loans in Texas. Over the summer of 2015, we worked closely with Richard, Dan and Sonia at Family Houston to fine tune the details of the Fig Loan. Their experience working with our future customers shaped the language, features and processes that underpin our Texas installment loans. It was through this process that Fig’s flexible repayment policy was born – because it’s what you would do for a friend. From our THRIVE partners in Houston to advocates in Austin, we recieved input from coaches at organizations all over Texas. We officially launched our Fig Loans pilot on October 1st of 2015 and we couldn’t have done it without all the support we received from our friends in Houston!

Loan Features

Fig online installment loans ranging from $300-500 that are repaid over 4 installments and set up on a schedule that fits your budget. Unlike payday loans, Fig Loans work with you to adjust payment dates because we know life doesn’t follow a calendar.

Fig partners with Family Houston to offer you a loan that is 60% cheaper and designed to get you out of debt. Fig helps you through financial emergencies and build credit towards a better future. Fig offers a lower rate and fewer payments, giving you a fair price and a repayment timeline that works within your budget.

Application Process

You can start the application for a Fig loan by clicking the “Apply Now” button on our home page. From there you will be directed to create an account, review the terms of a Fig loan, enter some basic identification information, and verify your bank account. Once your bank account has been verified, your application is complete!

Once you have completed a Fig loan application and verified your bank account, your application will be reviewed within one business day and you will receive an email notification of your loan decision. In order to be considered for a Fig loan, you must complete our online application and verify your bank account. Our decisions are based on the accuracy of the information you provide, and the transaction history of your verified bank account. We look at your ability to pay back the loan, rather than a credit score, and focus on account age, income, and existing/previous loans.

We do not look at a traditional credit score when making loan decisions. Instead we look at your ability to repay the loan based on account age, income, and existing or previous loans. We only serve the state of Texas at this time.

Repayment Terms

Min Loan Amount $300
Max. Loan Amount $500
Loan Term 4 months

Fig loans cost less than $4 for every $100 borrowed per 2 weeks (140% APR). The loans are paid off over four months, through 4 equal monthly payments.

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