Installment loan · Possible Loan (also Possible Advance in some states)

Possible Finance: what it costs and what the record shows

The Possible Loan is a small-dollar installment loan of up to $500 (state-dependent) repaid in four payments over about eight weeks, with a borrowing fee that sample schedules translate to APRs of roughly 137% to 249%. In a separate set of states Possible offers a cash advance product tied to a $15 monthly membership instead of a loan.

Checked against the company’s published terms and official records on 2026-10-18.

136.60%-248.67% APR on Possible's sample payment schedules (e.g., 200.56% in most states; 248.67% in DE, MO and TX; 136.60% in OR; 140.17% in IA); APR calculated on four bi-weekly payments over a 56-day term.stated APR

This is a loan with an interest rate, repaid in installments. Its APR comes from the lender’s own terms⁸.

What it is: Installment loan
Who runs it: Possible Financial Inc. dba "Possible Finance" (NMLS #1697898); in many states loans are made by Coastal Community Bank and serviced by Possible
Loan amount: Possible Loan: up to $500 ("Max amount not typical"); Possible Advance: $10 to $300.¹
Monthly membership: Not required for the Possible Loan. Possible Membership ($15/month) is required for the Installment Advance in the advance states; a separate Plus plan ($14.99/month, after a 7-day free trial) bundles installment-loan access and credit tools and is offered to new customers in Mississippi and Oklahoma.²
Instant transfer: Loan page: "Instant transfers are free." Footer: "Instant Delivery fee may apply in select states." Plus plan loans and Single Advances charge an instant transfer fee that varies with the amount and is shown before you accept; Installment Advance for members has free instant disbursement. No fee amounts are published.³
Standard transfer: ACH 1-2 business days (help center: before 2PM PST next business day; may take up to 5 business days for a small percentage of customers); debit card often within an hour, up to 24 hours.
Tips: The Advance page says there is no tipping; no tip request is described for loans.⁴

Whether an app is “legit” comes down to facts you can check: who runs it, what it charges, whether it is licensed or registered where a state requires it, and what regulators and courts have said about it. Those facts for Possible Finance are below, each with its source. A loan with an interest rate, repaid in several payments. Different from a pay advance.

What you pay

Charge	What the company says
Membership	Not required for the Possible Loan. Possible Membership ($15/month) is required for the Installment Advance in the advance states; a separate Plus plan ($14.99/month, after a 7-day free trial) bundles installment-loan access and credit tools and is offered to new customers in Mississippi and Oklahoma.²
Instant transfer	Loan page: "Instant transfers are free." Footer: "Instant Delivery fee may apply in select states." Plus plan loans and Single Advances charge an instant transfer fee that varies with the amount and is shown before you accept; Installment Advance for members has free instant disbursement. No fee amounts are published.³
Standard transfer	ACH 1-2 business days (help center: before 2PM PST next business day; may take up to 5 business days for a small percentage of customers); debit card often within an hour, up to 24 hours.
Tips	The Advance page says there is no tipping; no tip request is described for loans.⁴
Loan terms	APR: 136.60%-248.67% APR on Possible's sample payment schedules (e.g., 200.56% in most states; 248.67% in DE, MO and TX; 136.60% in OR; 140.17% in IA); APR calculated on four bi-weekly payments over a 56-day term.. Four equal payments over about 8 weeks; first payment no sooner than 7 days after approval; each payment may be moved up to 29 days with no fee; no penalty for early repayment. Payments are reported to credit bureaus (TransUnion and Experian per the loan page). Possible Loans: Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington state and Wyoming. Possible Advance: Colorado, Georgia, Massachusetts, Minnesota, New Jersey, New Mexico, North Dakota, South Dakota and West Virginia. Help center says Possible is not yet available in Connecticut, Illinois, Maryland, Maine, New York, Pennsylvania and Wisconsin. Possible holds direct lending licenses in AK, CA, HI, ID, UT and WA; loans in AL, AR, AZ, DE, FL, IA, IN, KS, KY, LA, MI, MO, MS, MT, NC, NE, NH, NV, OH, OK, OR, RI, SC, TN, TX, VA, VT and WY are made by Coastal Community Bank and serviced by Possible. California: licensed under the California Deferred Deposit Transaction Law, License #10DBO-105848.⁸
Borrowing fee (finance charge)	Varies by state: $20 per $100 borrowed in most loan states; $25 per $100 in Delaware, Missouri and Texas; $15 per $100 in Washington on the first $500 ($10 per $100 above $500); $15 per $100 plus a $5 origination fee in Alaska; not a flat rate in Hawaii, Iowa and Oregon. The fee is split evenly across the four payments.⁵
Texas CAB fee	In Texas Possible is a licensed Credit Access Business; the Texas disclosure table shows a CAB fee of 25% of the amount financed, no separate interest, 248.67% APR, 4 payments over 8 weeks (e.g., $200 financed, $50 finance charge).⁶
Louisiana disclosure	Louisiana disclosure lists interest of $16.75 per $100 borrowed and a $10 documentation fee per loan (direct lending license for loans generated prior to 10/2/25).⁶
Late fees or interest	Possible says it charges no late fees or penalty fees. Each payment can be rescheduled up to 29 days from its original date without a fee; payments more than 29 days past due are reported late to the credit bureaus, and loans in default may be sent to collections.⁷

What the marketing says, and what it leaves out

“Never pay late fees" / "no hidden fees”: No late fees, but every loan carries a borrowing fee of about $15-$25 per $100 depending on the state, which Possible's own sample schedules show as roughly 137%-249% APR.
“Instant transfers are free.”: The same page's footnote says an Instant Delivery fee may apply in select states, and the Plus plan and Single Advance charge an instant transfer fee.
“Advance: "No hidden fees, interest, penalties, or tipping”: Possible Advance requires a $15/month membership (Installment Advance) or carries an instant disbursement fee (Single Advance).

How Possible Finance works

Download the Possible app, sign up and enter your information.
Link the bank account where your paycheck is deposited.
Possible reviews your bank activity (no FICO check) and makes a decision, often in minutes.
Review the amount, fee, APR and payment schedule, then accept.
Receive funds by debit card (often within an hour) or ACH (1-2 business days).
Repay in four installments; reschedule a payment up to 29 days if needed.

Steps summarized from Possible Help: About Possible Loans⁵.

Who can get it

No FICO check; Possible reviews bank activity. Link the account that receives your paycheck (help center suggests at least three months of payroll deposits), keep a positive balance and avoid frequent overdrafts. Some online banks and prepaid accounts cannot be used as the primary account (see banks). Product availability depends on your state.⁹

How it is paid back

Payments are scheduled on or near your paydays and are typically taken automatically from your linked bank account; you can also pay manually by debit card or bank account in the app. The borrowing fee is divided equally across the four payments.¹⁰

Which banks it works with

Only what Possible Finance’s own help center or terms say. “Not stated” means we found no official statement either way, not that it won’t work. Compare all apps by bank.

Bank or account	Status	What the app says
Chime	Official source says no	“We are currently unable to support some of the following accounts: Chime, Simple, Venmo (Personal), PayPal, Bluebird Amex, Dave, Serve, Current, Go2Bank, ONE, Albert, ... / Loan page: "Pay with your Chime card, extra debit card, Grandma's Visa gift card" (payments only)”¹¹
Cash App	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹
Varo	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹
Current	Official source says no	“We are currently unable to support some of the following accounts: Chime, Simple, Venmo (Personal), PayPal, Bluebird Amex, Dave, Serve, Current, Go2Bank, ONE, Albert, ...”¹¹
Chase	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹
Wells Fargo	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹
Bank of America	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹
Capital One	Not stated by the app	“Right now, Possible can review applications from and disburse money to most traditional banking accounts, as well as some online banks.”¹¹

State licenses and registrations

Utah: listed as “POSSIBLE FINANCE DBA: POSSIBLE FINAANCE” on the official list (checked 2026-10-18).

Not found on the official lists of: Indiana, Missouri, South Carolina. Not being on a list can have several explanations (the law may not cover this kind of product, or the provider may operate under another name or license); check with the state regulator if it matters to you.

Official record

2019-12-24 California Department of Business Oversight (now DFPI), consent order. The Commissioner found that Possible made 4-payment installment loans in California under a California Financing Law license when the loans were intended to follow the Deferred Deposit Transaction Law, which Possible self-disclosed in 2019. Possible agreed to a desist-and-refrain order and a $51,500 penalty, and the Commissioner agreed to issue a CDDTL license. Status: Final; consent order effective on signing (December 24, 2019). Official document

Searched: California DFPI enforcement actions; CFPB enforcement actions (consumerfinance.gov): no Possible action found; FTC: no Possible action found; Government index queries 'Possible Financial Inc', 'Possible Finance' (dfpi.ca.gov, consumerfinance.gov), 2026-10-18. A complaint or lawsuit contains allegations; it is not a finding unless a court or agency says so.

Cheaper ways to cover a gap

Ask your employer whether it offers pay advances through payroll, and what they cost you.
Federal credit union payday alternative loans (PALs) are capped at 28% APR.
Ask the bill’s company (utility, landlord, lender) for a payment plan or a few days’ extension.
Call or text 211 for local emergency help with rent, utilities and food.

Details and official links for each option

What we could not confirm

Instant delivery fee amounts (Plus plan, Single Advance, and 'select states' for loans) are not published.
Licenses listed on Possible's disclosures page were not cross-checked in NMLS Consumer Access or state regulator lists.
The California page notes California 'transitioned to a Coastal state on 7/16/2026'; current California terms are referenced at possiblefinance.com/states/california, which was not fetched.

Sources

All checked 2026-10-18. Fees change; the company’s current terms are the ones that count. Spotted a change? [email protected]