Start building your credit today
Many borrowers are unable to obtain credit due to no credit, limited credit, or negative credit history.
We are here to help you. With our Credit Builder Loan Program you can build first-time credit or rebuild credit. This loan gives you the opportunity to show that you can consistently make on-time payments. And since payment history is such an important factor in calculating credit scores, it helps build credit. Good Credit Scores are not required in order to open a credit-builder loan.
Build your credit
The Credit Builder Loan is a cash secured installment loan where 100% of loan proceeds are deposited and held in a savings account. Your on-time payments on your Credit Builder Loan will be reported to the major credit bureaus each month which can help you gradually improve your credit score. Making on time payments on an investment loan is one of the best ways to build your credit score.
Build your savings
Funds in the savings account will be available to you once all loan payments have been made on time.
Reach your goals
The Credit Builder Loan program offers free financial education, giving you the tools you need to reach your financial goals.
Start building your credit today! Apply for Credit Builder Loan Program
Additionally, our Credit Builder Loan Program is designed to:
- Give you an opportunity to build a relationship with FSWB.
- Provide an alternative to payday and other predatory lenders which charge high rates of interest.
Disclaimer:
This Product is not guaranteed to establish or improve your credit score.
Approval of other First Southwest Bank products and services are not guaranteed due to participation in the Credit Builder Loan Program. Please consult your FSWB Banker for specific product and service guidelines.
Credit Builder is subject to application, eligibility and credit qualification. Rates and terms are subject to change.
Your credit score(s) are dependent on multiple factors specific to your situation and financial behavior. For example, late payments on utility bills, car loans or credit card accounts may negatively influence your credit score(s), even if your payments on a Credit Builder loan are current.
Negative credit history will not be removed from your credit report as a result of this program.