@larryicels OP.
Listen carefully and read what I say multiple times.
Do not take this loan. 40% is fucking insane. I've never heard of this company but it sounds to me just from the interest rate that it's no different than one of the many pay day loan type places that have been popping up everywhere.
Go to your bank and apply for an unsecured line of credit. Will be less than a credit card.
These types of loans are for people who literally have no choice but to go to them because their credit is so bad no one else will even entertain the idea of giving them a loan.
I'll assume your not in that situation. A loan like this will not help you.
What will help you build credit and show that you are responsible? A standard credit card from your bank (or a line of credit). Use it, pay it right away.
Again, unless you have 0 options and need that loan (and even then I'd still be wary), don't do it.
I remember before my father passed away last year, he was living in Mexico and he kept losing his debit card, so I'd have to get money out of his account here and send it by western union. The amount of people I would see in that place taking loans for $100-$200 was fucking pathetic.
The workers would always try to sell me on a line of credit and I legit told them "even if I was unemployed theres absolutely no way I would take a loan from you" and the worker even said "yea that's probably a good idea"