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HonestLoans Review: Loans Up To $50K

HonestLoans Personal Loan Review

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  • Loan amount: $200 to $50,000
  • APR: Not specified
  • Min. credit score: Not specified

Financeive Rate

Pros

  • There are several sorts of loans available through it.
  • You are not penalized for having bad credit.
  • The application procedure is quick and simple.
  • It has a vast network of lenders.

Cons

  • It is not a lender that makes direct loans.
  • Alaska, Delaware, Hawaii, Maine, Montana, New York, and Wyoming are among the states where this service is not available.
  • On its website, there is little information about the company.

Who Is HonestLoans Best For?

Honest Loans does state that its loans are not intended for long-term funding or to pay off other debts.
The greatest use for HonestLoans is to borrow money in the short term, such as to pay rent, cover unanticipated costs, or provide emergency cash.

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If you need money fast but have terrible credit and can’t get a loan through conventional routes, consider online marketplaces like HonestLoans.

While this site may assist you in finding a lender who will approve your loan, it also has the potential to share your information with predatory lenders who may make you loan offers you can’t afford.

The site may provide you with a simple approach to determine which lenders will make you an offer, but do your homework before signing for a loan to understand the terms and reputation of the lender.

For your convenience, we’ve compiled the most up-to-date Honest Loans review.

We’ll go through any concerns you might have about HonestLoans, as well as how it works and what to anticipate throughout the application process, loan amounts, and most importantly, how Honest Loans compares to other lenders.

What Are Honest Loans?

Honest Loans recognizes that financial events may not always follow a predictable payment schedule and that people occasionally require assistance.

It’s designed to provide consumers with fast access to a personal loan by offering a simple, secure, and transparent way of applying for one.

A personal loan is a loan used for almost any purpose. Personal loans are normally unsecured, which means that no type of collateral, such as property, is required for approval.

To qualify, all you need is proof of your identification and a stable source of income.

Personal loans are frequently used to finance expensive purchases, renovations or repairs, debt consolidation, or simply to meet huge and sporadic unplanned expenses.

Honest Loans believes that funds should be available to everyone.

When you apply for a loan with Honest Loans, your application is sent to over a hundred lenders for consideration.

There are many different loan options to choose from, as well as security, 24-hour access, and the opportunity to applyfrom home or on the go.

Borrowing power has been cleverly dispersed in your hands!

HonestLoans Amounts, Terms, And Fees

HonestLoans offers the most diverse loan options, ranging from $200 to $50,000.

The APR charged by this supplier is directly tied to the rates and fees charged by this service.

The APR of unsecured Loans from HonestLoans is unknown because it is not a direct lender.

The APR calculated by HonestLoans’ lending partners is based on several factors: The sum of the loan, monthly payments, each state’s APR laws, payment duration, and credit score are all variables to consider.

This is why it is critical to educate yourself about the loan partners’ terms and conditions before accepting the offer. Each loan partner has a unique offer.

More: What Is a Fair Interest Rate on a Personal Loan?

HonestLoans Requirements

Although specific requirements differ per lender, the website lists some general guidelines for applying for loans. You must:

  • You must be at least 18 years old.
  • You must be a US citizen.
  • Earn a minimum of $800 every month.
  • Regularly receive revenue from work or government benefits.
  • You should have a checking account.

Lenders may add more terms. By completing your application through HonestLoans, you consent to participate in their lead-generating service.

According to the site’s lenders, borrowers who are residing in any of the following states will be denied: Arkansas, Arizona, Georgia, Oregon, and West Virginia.

The Process of Taking a Loan From Honest Loans

A list of loan amounts appears at the top of the screen when you first visit the site. To begin, you must first decide how much you want to borrow.

Apply Online: It simply takes 5 minutes to fill out Honest Loans’ online application form. There are no lines and no waiting because the process is entirely online. For mobile applications, their form is suited for both iOS and Android browsers.

Sign for your Loan: Once they’ve found you a lender, you may go through the loan agreement and e-sign it right away. Money is usually deposited into your bank account the next business day after the transaction is complete.

Repay Your Loan: Honest Loans runs a network of personal loan lenders who allow you to pay back your loan in various installments, up to 60 months in some situations. They also collaborate with short-term lenders, who provide smaller loans that are normally repaid on your next pay date.

They will try to obtain a short-term loan to cover your present financial needs if they are unable to connect you with an installment lender.

Will Honest Loans Approve My Cash Loan?

All forms of payment are accepted. Honest Loans’ network of lenders provides a wide selection of loans for both good and bad credit borrowers.

Consider applying for a loan if you are 18 years old or older and have a consistent income.

Who Is HonestLoans Best For?

Honest Loans does state that its loans are not intended for long-term funding or to pay off other debts (such as credit card debt consolidation).

The greatest use for HonestLoans is to borrow money in the short term, such as to pay rent, cover unanticipated costs, or provide emergency cash.

Honest Loans Customer Service and Reviews

HonestLoans can be reached via its web form or by calling 866-956-2474.

There are no records of the Better Business Bureau regarding HonestLoans, and there aren’t many customer reviews available.

That isn’t to say that this is a horrible place to get a loan, but it isn’t the most well-known.

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Frequently Asked Questions

HonestLoans

HonestLoans recognizes that financial events may not always follow a predictable payment schedule and that people occasionally require assistance. It’s designed to provide consumers with fast access to a personal loan by offering a simple, secure, and transparent way of applying for one.

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Summary

Honest Loans does state that its loans are not intended for long-term funding or to pay off other debts (such as credit card debt consolidation). The greatest use for HonestLoans is to borrow money in the short term, such as to pay rent, cover unanticipated costs, or provide emergency cash.

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