Frequently Asked Questions2025-03-25T10:05:33-05:00

Frequently Asked Questions

Loan Terms, Rates, and Cost
What is the total cost of the loan?2025-03-25T10:11:59-05:00

If you’re looking at the amount of each payment and multiplying that amount by the total number of payments, you might be thinking, “Whoa, this is expensive!” However, there are a few important things to know when considering how much your loan will ultimately cost:

  1. You only pay interest on your loan for as long as you need the money.
  2. You can pay back your loan at any time without additional fees or penalties.
  3. The earlier you pay back your loan, the less interest you pay.

To determine the total cost of your loan, it’s important to look at more than interest rate, loan term, and payment amount. You need to consider how long it will actually take you to pay back the loan.

Subsequently, if you’re looking at the APR or annual percentage rate, be sure to understand how APR works on a monthly basis.

What are the interest rates on a Loop Fund loan?2025-03-25T10:18:57-05:00

Interest rates vary per applicant. They are based on a number of factors, including credit score and payment history. This rate is disclosed on your loan agreement for you to review before signing.

While reviewing your offer, it’s important to know that interest rate is only one factor to consider when looking at the total cost of your loan. You can pay back your loan at any time without penalty, and paying early significantly reduces the total cost of your loan.

How can I lower the amount of interest paid?2025-03-25T10:18:46-05:00

There are no fees or penalties for paying off your loan early. In fact, we encourage you to make additional payments whenever possible. The sooner you pay your loan in full, the more you save.

Is there a penalty or fee for early payments or paying off balance early?2025-03-25T10:18:31-05:00

We never charge fees or penalties for making additional payments, which is why most of our borrowers end up paying off their loans well in advance. By paying early, you can significantly reduce the amount of interest you pay.

You can make additional payments on principal or payoff your balance in full (with no penalties or fees) anytime through your client portal at secure.loopfund.com/login.

Making Payments
How long do I have to pay off my loan?2025-03-25T10:18:13-05:00

Loans are granted on terms up to 17 months with equal payments due weekly or every other week depending on your offer. There is no fee or penalty for early repayment, which is why most of our borrowers end up paying off their loans within the first few months.

When is my first payment due?2020-10-08T15:57:21-05:00

Your first payment is due on your next pay date, unless your next pay date falls within four business days of your loan approval. In that case, your first payment will be due the following pay date.

How often are loan payments due?2020-10-08T15:57:14-05:00

Payment frequency varies depending on your loan offer, but payments are generally due either weekly or every other week.

Is there a penalty or fee for early payments or paying off balance early?2025-03-25T10:17:53-05:00

We never charge fees or penalties for making additional payments, which is why most of our borrowers end up paying off their loans well in advance. By paying early, you can significantly reduce the amount of interest you pay.

You can make additional payments on principal or payoff your balance in full (with no penalties or fees) anytime through your client portal at secure.loopfund.com/login.

How do I access my account online?2023-03-14T15:21:05-05:00

Through your online loan portal, you can view your payment history, outstanding balance, and scheduled upcoming payments. Within your portal, you can also make additional payments toward principal or pay off your balance at any time without a pre-payment fee or penalty.

How to Access Your Account

If you are a current client, you can access your account at secure.loopfund.com/login, using the email address used on your application.

If you have trouble accessing your account online or would like to speak with a loan advisor, email info@loopfund.com or call 833.684.0905, 8am-5pm (Central Time), Monday-Friday.

How do I make payments?2020-10-08T15:52:08-05:00

Automatic and Online Payments (Recommended)
Making automatic payments with ACH withdrawal through your bank is the safest way to ensure your payments are received on time and that you don’t accrue late fees or go into default. You can also make additional payments on principal or payoff your balance in full (with no penalty) anytime through your client portal at secure.loopfund.com/login.

Alternative Methods of Payment
If you do not wish to pay via automatic withdrawal, you have the option of paying via debit card, check, or money order. If sending your payments in the form of check via the mail, please provide plenty of time to ensure your payments arrive at our office in advance of the payment due date.

Send mail-in payments to:

Loop Fund
Attn: Payments
P.O. Box 838
Keshena, WI 54135

If you are concerned about not being able to make a payment on time, please contact us to discuss your options.

RESOURCES

Native American Financial Services Association Logo

IMPORTANT DISCLOSURES

Fox Lending, LLC dba Loop Fund is a commercial enterprise and instrumentality of the Menominee Indian Tribe of Wisconsin, a federally recognized sovereign Indian nation (the “Tribe”), which abides by the principles of federal consumer finance laws, as incorporated by the Tribe, and operates within the interior boundaries of the Tribes’ reservation in Keshena, WI. Fox Lending, LLC is chartered under and operates pursuant to Tribal Law. Loans from Loop Fund are governed by the laws of the Tribe, not the law of your resident state. Please note that nothing in this communication should be construed as a waiver of sovereign immunity, which is expressly reserved.

The Tribe does not allow access or accept applications for this service from residents of all locations, and the service may or may not be available at your location. The location from which the Tribe chooses to allow access to its jurisdiction may change from time to time without notice. If you choose to visit the Tribe’s jurisdiction through the internet and access services offered and regulated under the Tribe’s laws, you must consent to the Tribe’s jurisdiction and agree that Tribal law governs such services. Availability of loans are subject to change at any time at the sole discretion of Fox Lending LLC dba Loop Fund.

This “prescreened” offer of credit is based on information indicating that you meet certain criteria and is subject to credit verification. In addition, to accept this offer, you must have reached 18 years old. This offer may be accepted only by the person identified in this offer and may not be transferred to any other party.

This is an expensive form of borrowing. Loop Fund loans are designed to assist you in meeting your emergency borrowing needs and are not intended to be a long-term financial solution. Fox Lending, LLC encourages quick repayment to avoid finance fees. Alternative forms of credit may be less expensive and more suitable for your financial needs.

Consumers that submit an application using this website are providing written instruction under the Fair Credit Reporting Act authorizing us to obtain their consumer credit report, credit score and/or other information from any consumer reporting agency in order to make a final decision regarding extending a loan.

* Loan applications fully verified and approved by 11am Central Time (CT) will be funded as soon as the next business day. Loan applications fully verified and approved after 11am CT on Friday will be funded as soon as the following Monday, so long as the Monday is not a bank holiday. Fox Lending, LLC is not responsible for any additional charges applied by your financial institution.

View our website for applicable rates and frequently asked questions. Complete disclosure of APR, fees and payment terms are provided within the Loan Agreement.

Menominee Indian Tribe of Wisconsin Tribal Hotline: 800.234.1915

Loop Fund Customer Service Team: 833.684.0905

© 2025 Fox Lending, LLC dba Loop Fund. All Rights Reserved.