The LoanSolo app connects you to multiple lenders that will let you borrow loans of up to $3,000.
If you get matched to a lender, you’ll receive a loan offer where you’ll get chance to review the terms and conditions before going ahead with your loan. You can receive funds in as little as one business day.
What you need to know at a glance:
- Cost - because LoanSolo is a connecting service, it’s free to use. However, you’ll incur interest charges when you take out a loan, plus possibly other fees such as late payment and early repayment penalties. These fees will vary by lender. But note that interest rates on short-term payday loans are typically very high and up to 365% APR.
- Application process - to apply, you’ll simply fill out a short online questionnaire which then gets submitted to a network of lenders.
- Eligibility criteria - You must legally live and work in the U.S. and be able to show stable employment (for at least 90 consecutive days). You must also be over 18 years old, have a working phone number and email address, and a bank account in your name. You can apply even if you’ve been rejected for loans or credit cards in the past.
- Best suited for - U.S. residents who perhaps haven’t got the best credit rating in the world and need fast access to a fairly large amount of cash. Click here to check it out.