eLoanPersonal Review If you’ve noticed ads for eLoanPersonal you may be wisely doing your due diligence to find out if they’re a lender worth handing your information to.
Unforeseen expenses may happen anytime. Your car could break down, your utilities bills could be higher than expected, etc. If you have extra money saved, then that wouldn’t be a problem. But what if you don’t? If you were caught up in an unexpected financial woe and you have no other means to get the amount you need, borrowing money is one of your options.
For easy application and fast approval, you may consider applying for payday loan. This type of loan is meant to cover unexpected expenses until your next payout. While the approval rate is high and money is given quickly, the interest rate is also high, which is why you should weigh your options before getting a short term loan. If you think that this is your best option, one of the sites that you can visit is eLoanPersonal.
eLoanPersonal Review – The Company
eLoanPersonal is not a lending company. The site offers loan matching service, which connects you to its partner lenders. The website is safe and secured, which gives you the assurance that your personal information is protected. This is one of the things that you will appreciate about this site as not all payday loan sites provide online security.
However, the site does not offer its service to all states. Residents from Arkansas, Arizona, Georgia, North Dakota, Oregon and West Virginia are not eligible to apply for short term loan on the website. The company does not guarantee that you will be approved for loan as the decision still depends on the lenders. However, it assures that it will match you with the lenders that could possibly give you the amount you need at the lowest possible APR. Four out of five applicants are approved for their loans on the site, so there is a big chance that your application will be granted.
How It Works
If you’re on the main page, click on the green $500 or less; or $1000+ button to be taken to the application page. If you are on other pages of the site, you will not miss the apply now option on top of the page, which will also lead you to the application form. There are three steps that you need to take to complete the application. For the first step you will be asked for your personal information.
Step 2 will ask about your current employment. On the last step, you will be asked to provide information on where you wish to receive the amount. There is an image of a check on the right side of the page showing where you can find the information asked from you including the ABA/routing number and the account number.
The site will process your application and it will match you to the best lenders that may give you the amount you need. The lenders will then offer you a loan. The amount, rates, payment date and other details will be given to you. Note that lenders have their own terms. So make sure to carefully read the proposals that you receive to know the details. If you agree on the terms provided by your chosen lender, you can accept the contract and sign it online. Pay the amount on or before the schedule given. If you think that you will not be able to pay for the amount for some reason, contact your lender immediately so they can give you your options. You may incur additional fees for this, which will also be discussed to you.
Information, FAQs and Rates Provided
The website has a very helpful FAQ page that covers questions that are mostly asked by borrowers including the approval of loan and its payment. While interest rates and fees may vary from one lender to another, you will still find the free projection tool of the website useful, which can be found on the rates and fees page.
There is a slider that you can move to change the value of the borrowed amount. It will then show you the projected interest and the total amount you will pay for low, average and high interest. This will give you an idea on how much you would pay for a specific loan so you can decide properly on your budget. In case you have further questions regarding the site or the service they provide, you can contact them by calling their number or sending them an e-mail. You can also send a mail to their local address. Their contact information is posted on their contact us page, which link you can find at the bottom of the page.