FigLoans

FigLoans positions itself as the good guy in the short-term lending industry—the affordable alternative to predatory payday lenders that actually helps you build credit . Founded in 2014 by Jeffrey Zhou and John Li, who met in business school and bonded over a desire to solve problems facing working-class American communities, FigLoans launched as a collaboration with United Way THRIVE in Houston, Texas .

Today, FigLoans operates as Fig Loans Texas, LLC and offers small installment loans ranging from 50to

50to800 with terms of 1 to 6 months . The company emphasizes transparency, fairness, and credit-building—reporting your on-time payments to credit bureaus so you can improve your financial standing while solving an emergency cash need .

But here is the catch: FigLoans is only available in six states—Florida, Missouri, Ohio, Texas, Utah, and Wisconsin . And while they claim to be "60% more affordable than competitors," their APRs range from 35.99% to 279% depending on your state . That is still expensive money, even if it is cheaper than traditional payday loans.

FigLoans does not have a mobile app that you download from app stores. Instead, customers apply entirely through the website at www.figloans.com . This is a critical distinction because it means FigLoans cannot scrape your contacts or photos through app permissions—a major safety advantage over predatory loan apps.

However, FigLoans does collect extensive personal information during the application process, including bank login credentials through a third-party provider, selfies for identity verification, and biometric data from your government ID . They also ask for references who they may contact if you default.

The company has a physical headquarters at 2245 Texas Drive, Suite 300, Sugar Land, Texas, 77479 . They do not accept inbound phone calls but provide customer support via email at service@figloans.com .

The Verdict: FigLoans is a legitimate, registered lender—not a ghost app or loan shark. Their mission appears genuine, and they offer features like payment deferrals and credit reporting that predatory lenders avoid. But the interest rates are still high, and you must understand your rights before signing. The biggest danger is not FigLoans itself, but scammers impersonating FigLoans to steal your data