Once your loan is approved, in most cases as a next step we will arrange a call with you and your existing lender to determine the total outstanding loan amount that will be due at the time of settlement. This amount will be applied to your loan agreement with Prodigy Finance which you will then e-sign. Once signed, the funds will then be sent to your lender and we will notify you when they have settled. You can then set up payments using our mobile app.
Articles in this section
- What happens after funds are sent to your previous loan provider?
- What are the next steps after my loan is approved?
- Can the funds go to me or must it be paid to the loan provider?
- What if there is a difference in settlement, like a shortfall?
- What is the process for funds to be disbursed?
- How many days does it take for the money to reflect as settled by the loan provider?
- Who needs to follow up with the settlement of the loan?
- Can you give me a repayment schedule?
- When does the grace period start?
- How long does it take for my loan to be settled?