By: Christy Means-Smith | Category: Financial Services | Issue: April 2007
Ruth Littleton, loan officer and office manager of Loan Plus.
Most of us run short of money at some point in our lives. When just needing an extra few hundred dollars, it can sometimes be difficult to borrow a small amount from a large institution. That’s where Loan Plus comes in. The company in Owasso specializes in small loans from $100 to $800.
There are many reasons for needing extra money every once in awhile. Some need to make minor repairs on automobiles or homes, perform small remodeling jobs or pay unexpected bills. Some people may just use the repayment of loans as a means of building good credit.
“Lots of individuals ran short on their paychecks during the winter snow and ice storms,” says Ruth Littleton, loan officer and office manager of Loan Plus. “The money can be used for recreational purposes, as well. Just recently I made a loan to a lady who wanted to visit her children who live out of state.”
Requirements for obtaining small loans from Loan Plus are quite simple. The applicant needs to have been working at their place of employment for at least one year, and he or she has to have lived at their current living establishment for six to 12 months. Loan Plus can use electronic collateral, such as serial numbers from television sets or DVD players, or use a clear title as collateral. The collateral and the ability to pay back the loan will determine the amount of the approved loan. Credit reports are examined, but the deciding factor does not rest upon the individual’s credit score. Rather, it is the income to debt ratio that is more important.
Loan Plus offers their customers the opportunity to make monthly payments, which eases the loan obligation for the client. Payment arrangements can be made if necessary. Reminders for payments are typically sent out approximately five days before the deadline.
Applications can be done over the phone, as well as at the Loan Plus office. The office has a nice, comfortable atmosphere; not at all forbidding or intimidating. Ruth herself is very friendly and easy to work with.
“I just enjoy people; visiting with them, getting to know them and being able to lend a helping hand,” says Ruth. She is also willing to make after-hour appointments for people who are unable to make it to Loan Plus during regular business hours.
Loan Plus is located at 117 S. Main St. in Owasso. The hours of operation are 9 a.m. to 5 p.m. Monday through Friday. For more information, contact Ruth Littleton at Loan Plus at (918) 272-9232.