TLC FUNDS Review

TLC FUNDS offers three main loan products: Short-Term Loans ranging from $200 to $1,000 with terms of 2 weeks to 3 months; Installment Loans from $500 to $3,000 with terms from 3 to 24 months; and a Line of Credit option that provides revolving credit access of $300 to $2,000. Each product is designed for different financial needs and borrower situations, with varying rates and terms.

After loan approval, TLC FUNDS typically deposits funds into your bank account by the next business day. Applications approved before 4:00 PM CT on weekdays have the best chance for next-day funding. The exact timing depends on your bank's processing schedule, when your application is approved, and successful verification of your information. For line of credit withdrawals after the initial setup, funds are often available even faster.

To qualify for a TLC FUNDS loan, you generally need to: be at least 18 years old, have a regular verifiable source of income, maintain an active checking account in your name for at least 30 days, be a U.S. citizen or permanent resident, provide a valid email address and phone number, and have a Social Security Number. TLC FUNDS will verify your income, employment, and banking details to ensure you can afford the loan payments. While they consider applicants with less-than-perfect credit, they do evaluate creditworthiness as part of their responsible lending practices.

TLC FUNDS's loans have APRs ranging from 235% to 499%, varying by loan product and individual qualifications. Short-Term Loans typically have higher rates (390%-499%) due to their shorter duration. Installment Loans generally offer more moderate rates (235%-395%) with longer repayment periods. The Line of Credit option has variable rates (290%-450%) based on your credit limit and usage. Your specific rate depends on factors including loan amount, term length, credit profile, income, and repayment history with TLC FUNDS if you're a returning customer.

Yes, TLC FUNDS may perform credit checks as part of their evaluation process, though they don't rely exclusively on traditional credit scores for approval decisions. They use a more comprehensive assessment approach that includes income verification, employment history, banking information, and payment-to-income ratio. This holistic evaluation allows them to consider applicants with damaged credit or limited credit history who might not qualify for conventional bank loans. For returning customers, your previous payment history with TLC FUNDS factors significantly into their lending decisions.

Repayments for TLC FUNDS loans are primarily made through automatic withdrawals (ACH debits) from the same bank account where your loan funds were deposited. The payment schedule is typically aligned with your pay cycle (weekly, bi-weekly, or monthly) and clearly outlined in your loan agreement. You can also make manual payments through your online account, by phone, or via their mobile interface. For line of credit customers, minimum monthly payments are calculated based on your outstanding balance. TLC FUNDS sends payment reminders via email or text message a few days before scheduled payments.

Yes, TLC FUNDS encourages early loan repayment and does not charge any prepayment penalties. Paying off your loan before the scheduled term ends can significantly reduce the total interest charges you'll pay. You can make extra payments or pay off your balance in full at any time through your online account or by contacting customer service. When making additional payments, you can specify whether you want them applied to your principal balance or toward future scheduled payments. For line of credit accounts, early payments free up available credit that you can access again as needed.

No, TLC FUNDS does not operate in all states. As a tribal lender, they offer loans in many states but exclude several jurisdictions due to regulatory considerations. Currently, they do not offer loans in New York, Connecticut, Massachusetts, Pennsylvania, Vermont, Virginia, West Virginia, Washington, Arkansas, New Jersey, Maryland, Georgia, and a few other states. Availability may change over time, so it's best to check their website or contact customer service for the most current list of serviced states.

If you anticipate difficulty making a scheduled payment, it's important to contact TLC FUNDS's customer service team as soon as possible before your due date. They offer payment extensions and hardship programs in certain circumstances, especially for customers who proactively communicate their financial challenges. Late or missed payments may incur additional fees (typically $25-$35 per occurrence) and could affect your ability to borrow in the future. TLC FUNDS does not report to major credit bureaus, but continued non-payment could result in your account being sent to collections, which might affect your credit score.