❓ Frequently Asked Questions
Find answers to common questions about KoalaFi financing
🔑 Getting Started
KoalaFi is a lease-to-own financing solution that helps you purchase furniture, tires, electronics, appliances, jewelry, and more with no credit check required. We partner with over 15,000 retail stores nationwide.
Anyone 18 years or older with an active bank account and regular income can apply. You don't need good credit history - we consider multiple factors beyond your credit score.
No, we do not perform a traditional hard credit check that would impact your credit score. We use alternative data and factors to determine your eligibility and spending limit.
Most applications receive a decision within 5 minutes. In some cases, additional verification may be needed, which can take up to 24 hours.
💰 Payments & Costs
If you pay off your entire balance within 90 days of your purchase, you only pay the original cash price of the item with no additional lease fees. This is a great way to get what you need now and avoid any extra costs.
You can choose to pay weekly, bi-weekly, or monthly based on what works best for your budget. Payments are automatically deducted from your bank account on your selected schedule.
Spending limits range from $500 to $7,500 depending on your application. Your specific limit will be determined during the approval process.
Yes! You can make additional payments at any time with no prepayment penalties. Making extra payments helps you pay off your lease faster and can save you money.
📈 Credit Building
Yes! KoalaFi reports your payment history to TransUnion, one of the three major credit bureaus. Making on-time payments can help you build or improve your credit score over time.
No. We do not perform a hard credit inquiry when you apply. Checking your eligibility with KoalaFi will not impact your credit score.
🛒 Shopping
KoalaFi is accepted at over 15,000 retail stores nationwide. Our partners include furniture stores, tire shops, electronics retailers, appliance dealers, jewelry stores, and more. Use our Store Locator to find participating stores near you.
You can finance furniture, mattresses, tires, wheels, electronics, smartphones, appliances, jewelry, medical equipment, dental work, and much more. If a partner store sells it, you can likely finance it with KoalaFi.