Basic Requirements
To qualify for CFNA financing, you must meet these simple requirements:
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Age Requirement
Must be at least 18 years old (19 in some states)
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U.S. Residency
Must be a U.S. citizen or permanent resident living in one of our 48 serviced states
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Income Verification
Must have verifiable income source (employment, benefits, self-employment)
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Bank Account
Must have an active checking or savings account
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Contact Information
Valid email address and working phone number
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Valid ID
Government-issued photo identification
Credit Requirements
Good news: We accept applications from people with all credit types!
- ✅ Bad credit accepted
- ✅ No credit history? No problem!
- ✅ Past bankruptcies considered
- ✅ Previous foreclosures OK
- ✅ Collections or charge-offs accepted
- ✅ No hard credit check required
Income Requirements
We accept various income sources:
- Regular employment (W-2 or 1099)
- Self-employment income
- Social Security benefits
- Disability payments
- Retirement income
- Alimony or child support
Minimum income: Generally $1,000+ per month, but varies by state and lender.
Documentation Requirements
To verify your eligibility, you'll need to provide certain documents. Here's what we typically request:
📋 Identity Verification
Required (choose one):
- State-issued driver's license
- State ID card
- U.S. Passport
- Military ID
💵 Income Verification
Required (provide at least one):
- Most recent pay stub (within 30 days)
- Bank statements (last 2-3 months)
- Tax returns (for self-employed)
- Award letter (for Social Security/disability)
- Pension or retirement account statements
🏦 Banking Information
Required:
- Bank account number
- Bank routing number
- Bank name and branch location
- Account must be in your name
- Account must be at least 90 days old
📍 Proof of Address
Optional but helpful:
- Utility bill (within 60 days)
- Lease agreement or mortgage statement
- Bank statement with address
Special Situations We Handle
We understand that everyone's financial situation is unique. Here are some special circumstances we commonly work with:
👔 Self-Employed Applicants
If you're self-employed or own a business, we can work with:
- Bank statements showing regular deposits
- Tax returns (1099 forms)
- Invoices or client payments
- Business bank account statements
🌍 Recent Immigrants
New to the U.S.? We can accept:
- Permanent resident card (Green Card)
- Work visa with employment authorization
- ITIN (Individual Taxpayer Identification Number) instead of SSN in some cases
- Foreign passport with visa stamp
🎓 Students & Young Adults
Limited credit history? No problem:
- Part-time employment income accepted
- Financial aid or student loans can count as income
- Parent co-signer may help (not required)
- Proof of enrollment may support application
👴 Retirees
Living on fixed income? We accept:
- Social Security retirement benefits
- Pension payments
- 401(k) or IRA distributions
- Annuity payments
What Doesn't Automatically Disqualify You
Many people assume they won't qualify because of past financial problems. Here's what does NOT automatically disqualify you:
✅ Low Credit Score
We've approved customers with scores as low as 500. Credit score is just one factor we consider.
✅ Past Bankruptcy
Chapter 7 or Chapter 13 bankruptcy on your record? We'll still consider your application.
✅ Foreclosure History
Past home foreclosure doesn't prevent you from getting auto repair financing.
✅ Collections
Accounts in collections won't automatically disqualify you from approval.
✅ High Debt-to-Income Ratio
Existing debts? We look at your current ability to make payments, not just your total debt load.
✅ No Credit History
Never had credit before? That's okay. We can evaluate your application using alternative data.
How to Maximize Your Approval Chances
Follow these tips to improve your odds of approval and potentially get better loan terms:
✏️ Before You Apply:
- Gather all required documents
- Verify your bank account is active
- Make sure your account has positive balance
- Check that your contact info is current
- Have your employer's information ready
📝 When Filling Out the Application:
- Double-check all information for accuracy
- Be honest about income and expenses
- Include all sources of income
- Use your legal name as it appears on ID
- Provide a working phone number
💡 Pro Tip:
Apply for only the amount you actually need. Requesting a smaller loan amount increases your approval odds and reduces your total repayment cost.
States We Serve
CFNA financing is available in 44 U.S. states. Unfortunately, we cannot serve customers in:
- Arkansas
- Connecticut
- New York
- Vermont
- West Virginia
- District of Columbia (Washington D.C.)
Reasons for Denial
While we approve 95% of applications, some reasons an application might be denied:
- Insufficient income to repay the loan
- Too many recent loan applications
- Outstanding loans with other lenders
- Invalid or incorrect information provided
- Unverifiable employment or income
- Bank account issues or NSF history
💡 Improve Your Chances of Approval
- Ensure all information is accurate and complete
- Have recent pay stubs or proof of income ready
- Apply when you have positive bank account balance
- Be honest about your financial situation
- Have your bank account and routing numbers handy