Understanding your offer
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What does the information in my loan offer mean?
Need some help understanding the details of your offer? See below for a breakdown of each one: Base Rate Variable in... -
How is the interest rate and admin fee calculated?
Prodigy Finance charges simple interest, meaning that the interest does not compound throughout the life of the loan*... -
If I accept my offer will I be locked into taking a loan?
The Provisional Offer is a non-binding and conditional offer that informs us that you are ready to move forward with ... -
What is the difference between APR and the Interest Rate?
The truth is that finding the best interest rate is not always as simple as looking for the lowest advertised number.... -
What is the base rate?
What types of interest rates are there? Generally speaking, there are two types of interest rates: Fixed interest ra... -
What is SOFR?
Your offer with us will include a variable interest rate that is made up of a fixed margin rate applicable to your un... -
What are non-debt funds?
Sometimes we won't be able to offer the full amount you've requested for your loan. When this happens, we'll share th...