Pros
- More lenders equal more options
- Fast loan request processing
- It is a secure site that uses the most advanced encryption technology additionally; the site runs tests on a daily basis to ensure that the system remains safe and that there are no security leaks
- Auto payments option and online payments
- They work with people with bad credit
Cons
- also has an F rating with BBB
Qualification criteria
To qualify, you must be 18+ or 21+ years old, depending on the state. You have to be a U.S. citizen or permanent resident and have proof of at least $1,000 in monthly after-tax income. And last but not least, you must also have a checking account in your name and provide work and home phone numbers, as well as a valid email address.
Customers experience
They have 4.7/5 stars on . Customer reviews are mixed, but they agree that the network provides bad credit borrowers with easy access to payday loans.
gave it a 3.5/5 rating, and gave a 2.8/5 rating, where customers were mainly unsatisfied with the customer support. and , on the other hand, are much more enthusiastic. Over there has 4-star and 4.4-star ratings, respectively, and puts this platform as one of the best marketplace platforms to borrow money online.
Launched in 2017 and based in Roosevelt, Utah, is the youngest online loan platform on the marketplace. Personal loans can be a good option if you consider paying out some debts, repairing something in the house, or your car.
They will connect you with their network of lenders, and you will have the chance to reach out to some lender that was out of https://installmentloansgroup.com/installment-loans-sd/ your range otherwise.
Features
It works with lenders that can provide you with loans as little as $500 for payday loans and way up to $35,000 for personal installment loans, the highest loan amount mentioned in this article. The other lenders in this article would give you a maximum of $5000 like MoneyMutual, or $10,000 like and .
lenders have a time range as quickly as 90 days or as long as 72 months, depending on your credit and the type of loan you take out. Their loans come with a minimum APR of 5.99% to a maximum APR of %.
Payday loans come with fees and interest rates, as we mentioned at the beginning at MoneyMutual, the average cost of a payday loan is between $10 and $30 for every $100 borrowed. So, for example, if you were borrowing $500 with a typical lender’s fee of $20, the total amount you could expect to repay could be between $570 and $670.
Loan approval process
- Age/I.D./Residency Status for which you will need your driver’s license. You must be 18 or older to be eligible, have a valid Social Security number, and be a legal U.S. citizen or permanent resident. These kinds of loans are available only in the United States.
- Income information: in order to calculate the size of the loan and the term, some lenders after your application may also require verification, like a paystub. In order to ensure that you will be able to repay a loan, you must have full-time employment, be self-employed, or receive regular disability or Social Security benefits.
- Bank Account information: Your name, phone number, zip code, and email address, along with your birthdate and military service member status. Also, most loans require a valid checking account, as, after the loan approval, they will need to deposit your funds directly into said account.