Smart Debt Consolidation

The Smart Debt Loan merges your debt allowing you to make a lower monthly payment than your combined debt payments and improves credit rating.

Smart Debt Consolidation


About This Loan

Our smart debt loan is a debt consolidation loan that gives you a lower monthly payment than all of your current debt payments combined. Instead of making multiple payments each month, there is now the possibility to make one single low payment. It creates much more ease in your life while helping you to improve your credit rating over time!

What You Need To Know

Up To


in Available Funds

30 years

To Repay

Up To

3 - 5 Working Days

Avg. Approval Time

As Low As


Interest Rate

Up To


Additional Information

Who is This Loan Primarily For?

Cornwall County residents who are in debt

Cornwall County residents who wish to consolidate their debt

Cornwall County residents wish to reduce debt

Cornwall County residents who wish to improve their credit rating

Cornwall County residents who want the stress of debts to be relieved

Cornwall County parents who do not wish for their debt to fall on their children

Cornwall County low income earners who are in debt

Cornwall County residents who are bearing the debt incurred by those before them

Cornwall County residents who are uninformed and unaware of debt consolidation

Do I Need Collateral To Apply For This Loan?

The Smart debt consolidation loan can be taken either with or without putting up security for the loan.

Minimum Amount Disbursed For This Loan?


What Are The Requirements To Apply For This Loan?

  • ID

  • TRN

  • Proof of Purpose (Example credit card statement, debt statement or other proof)

  • 5% share equity

  • Collateral

Steps To Apply

Become a member of Gateway

Fill out all required forms and deposit the minimum opening balance of $3,300 to become a member of Gateway.


Ask about the Smart Debt Consolidation Plan

Visit any Gateway branch near you and ask a representative about the Smart Debt program.


Submit required documents

In order to apply for the Smart Debt Plan, certain items are required.These include:
- Valid ID
- Proof of Purpose (credit card statement, debt statement or other proof)
- 5% share equity in ... [Click To Read More]


Submit proof of ownership/proof of funds for collateral

Collateral is required for the Smart Debt loan as proof of funding. This includes:
- Co-makers account (members of the Credit Union with uncommitted shares/savings)
- Motor Vehicle title (not older th ... [Click To Read More]


Gateway registers the collateral

Gateway registers all acceptable collateral in your name


Pay application fee

The application fee required for a motor vehicle loan is 1.5% of the requested amount.


Wait for loan to be processed

The loan approval only occurs after all required documents are submitted and are in order.The loan processing time varies for the Smart Debt Consolidation loan.


Receive a call from a Gateway credit clerk

Once the loan has been processed, a Gateway credit clerk will call and let you know if it has been approved.


Sign relevant documents for disbursement

Visit the Gateway branch and sign the relevant documents for disbursement.

Our Team Stands Ready

If you're interested in any of our loans, we'll pair you with our expert customer service representatives, who will work with you to understand how to bring you to the solution they need.


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Deciding whether Gateway is the right partner for your loan? We know that this is a long-term decision, and we want to ensure that you are fully informed going into this commitment with us.


Learn more about this opportunity by chatting with our agent, or by visiting our Frequently Asked Questions.


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