ABOUT

How does a credit-builder loan work?

When you get a $500.00 credit-builder loan, the $500.00 you agree to borrow is deposited into a bank account held by Noir Black Lending. When you make your monthly principal and interest loan payments, Noir Black Lending will report your payments to credit bureaus. When the loan is paid off, you receive the $500.00 from the account.

​

The benefits of a credit-builder loan are twofold: You’re saving while also building credit.

​

What are the benefits?

A credit-builder loan can be a great tool to build credit from scratch or improve low credit scores — and of course, never make a payment late or you’ll undermine your credit-improvement efforts.