Getting Your Tax Refund

Many people count on their annual tax refund to pay for home projects, travel, or other bills that might be piling up over time. But sometimes refunds are delayed by the federal government, leaving filers waiting around for their anticipated check in the mail. Or other times, costs come up that were unplanned for and have no way to be paid.

Start your tax refund loan request

Learn How Early Income Tax Loans Work

If you’re someone who could use your tax refund early for any reason, a tax refund loan may be right for you. Check out our guide to tax loans to learn more.

What Is a Tax Refund Advance Loan?

A tax refund advance loan is just what it sounds like. This is a short-term or personal loan that allows you to get your tax refund sooner than you normally would. The loan is granted based on the expected amount you’ll be getting in your tax refund, and often requires you to have your taxes filed in advance of the annual deadline.

Like any type of personal loan, the money is given with the expectation that it will be paid back within a short time. The exact timeline depends on the lender, but many common short-term loan contracts are a few months to a year long.

These types of loans are also known as income tax loans or early income tax loans. The interest rate and other terms are also dependent upon the lender. The loan is usually given by the same company who prepared the taxes.

How Do You Qualify for a Tax Advance?

Wondering how to qualify for a tax advance yourself? You’ll be eligible if you expect to receive a refund from the IRS in the year you want the income loan. You may be required to borrow a minimum amount, such as $100-$500.

When Do You Get the Tax Loan?

Once you’ve requested a tax advance loan, you might get your funds as soon as the next business day after your request is processed. This is an appealing turnaround time for many people since it can often take 21 days or more for the IRS to issue tax returns.

Does It Cost Money to Get a Tax Advance?

The cost of getting a tax advance depends on the lender and the person paying the loan. Some lenders will give you the loan without charging any fees or interest, but they may charge you to process the loan. Other lenders might offer the tax advance as an incentive for filing your taxes with their company. This money can be paid out of pocket or be taken as a cut from your tax refund totals.

The tax refund loan will also cost you money if you don’t pay the loan back on time or are charged an interest rate. Carefully consider the terms of the loan to know what the tax advance may cost you over time.

How Does a Tax Refund Loan Affect Your Credit Score?

As with many loans, your lender will need to check your credit score before granting the loan. This allows them greater assurance that you’ll be able to pay off the loan on time. Some lenders make a hard inquiry on your credit, which could briefly lower your credit score. Other lenders will only review or make a soft inquiry, which will not affect your credit score.

What If Your Tax Refund Is Less Than Your Loan Amount?

Because the tax refund loan is issued before the IRS actually processes your tax return, the money you get back may differ slightly from the amount of money you’re issued with your tax refund loan.

This may happen if the IRS declines one of the deductions you claimed, or if there was some other miscalculation in your taxes. Your tax return might also be less if you have overdue child support, overdue tax debt, or student loan debt, or if you’re subject to a slew of other circumstances affecting your return.

Whether your tax return is smaller, bigger, or the same amount as the loan you receive, you’ll usually still have to pay off the loan in full. Some lenders may make an exception and forgive the difference, but you’ll need to check with the specific lender in advance.

Learn More Today

Although’s lender network does not offer Tax Refund Advance Loans, you can still Submit a personal loan request today for any other reason. If you have any questions, contact us via phone or email. We’re happy to help you every step of the way.