How much can I borrow with Alpha?

Alpha says it issues "mini-loans" between $250 and $1,500 only. If you need more cash, your other options include installment loans, credit cards, lines of credit and personal loans.

What is Alpha's interest rate?

Alpha states two flat annual interest rates on its website at 23.99% and 29%, regardless of the borrower's credit situation. It doesn't run a credit check when you apply, either. Alpha Loans is not clear about what APR it uses.

What happens if I default on my loan?

Alpha says that if you miss a payment or your account doesn't have the available funds, you'll incur an NSF fee of $60. You may get charged by your bank, too.

Does Alpha have other fees for borrowing?

It does. It refers to a $20 weekly membership fee on its website. And while it doesn't list how much these other charges may be, it also mentions administration fees, deferral fees, reborrowing fees and maintenance fees.