LoanSolo Review July 2024
January 3, 2023
LoanSolo:
Our expert's rating
Minimum credit amount:
3000 $
Min.Down payment:
1.39%
Loan Types and Products:
Purchase, Refinance, Home Equity, Fixed, Adjustable, FHA, VA
*This offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition. The rate and terms you may be approved for will be shown to you during the application process. Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements.
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LoanSolo: Full Review
Each of us faces financial difficulties from time to time. But don't panic, life goes on, and there is always a way out. Lending companies are designed to help people meet their financial needs and can be really useful to you.
Today, we will talk about LoanSolo, an online service that offers free access to the best lenders in the US. It’s important to mention that the service does not lend money, does not advertise lender offers, and does not participate in your cash deals. This is just an intermediary between people who are in dire need of money and companies that can provide financial assistance. The site is best for people who:
- Have any credit score, bad credit is not a problem.
- Need quick money for various purposes.
- Looking for small loans with favorable terms.
What Does LoanSolo Offer?
LoanSolo is a convenient service that works exclusively to meet the desires and needs of customers. So, the platform provides personal loans for every taste and budget. And you will find a nice offer both online and offline.
Online services
Online loans are ideal for those who do not want to waste their time looking for a decent storefront lender nearby, waiting in grueling lines, and doing boring paperwork. This is a trouble-free option to get extra money as quickly as possible. All you need is a PC, laptop, or smartphone and Internet access. Just find a lender that offers online loans and get your money!
In addition, the site provides customers with all the services and a cozy online environment for a comfortable and, most importantly, effective search for a personal loan. The platform assists you every step of your way to loan obtaining, so follow simple guidelines or contact support if you have any questions. Moreover, the service covers all issues regarding responsible lending and supplies you with information about the up-to-date loan offers.
Offline services
The site is also good for those who prefer storefront lending. You can easily find loan providers who are ready to lend you money offline. Moreover, there is no need to go to the other end of the city, just find a lender in close proximity and go for your loan. Although the terms of personal loans are almost the same in online and offline lenders, it’s still better to borrow money on the Internet. After all, this is the fastest and easiest way to get cash advances for any needs. Modern technology allows you to take out a loan from the comfort of your home, do not miss such a great opportunity!
Pros
- Ease of use.
- Simple application process.
- Large number of trustworthy lenders.
- No fees.
- Flexible loan terms.
- High security.
Cons
- Not available in some state.
- Small maximum amount to borrow.
- No pre-qualification.
Advantages of LoanSolo
LoanSolo has a lot of positive reviews, which means that people are satisfied with the services provided by the platform. Indeed, there are quite a lot of factors that exalt the site over similar services. Let's look at the advantages of the platform in more detail.
No fees: The site was created with a single goal to help people solve their financial hardships. The service does not try to make money on customers and worsen their already difficult financial situation. Accordingly, all site services are free. You will not face any fees either for finding a lender or for submitting the application. Also, you will not pay any fees if you decide to refuse a loan offer if it does not suit you.
Convenient and easy navigation: The site is easy to use, even for people who have never taken out loans online. It's easy to find any information you need. What's more, the site offers a step-by-step guide on how to apply for a loan and how to use your cash advance correctly so as not to get into trouble.
Fast and easy application: The platform offers the simplest application form that features only relevant questions and nothing more. You can also submit a request via your smartphone, as the service is perfectly-optimized for mobile devices. All in all, it will take you only 5-10 minutes to fill in all the fields in the application form.
Wide range of reliable lenders: Looking for a quick personal loan with favorable terms? Then LoanSolo is exactly what you need. The service works only with those lending companies that have an official license and permission to provide loans in a certain US state. The site does its best to match you only with reliable and proven lenders so you can get high-quality services without any risks.
Favorable loan terms: Since the number of lenders on LoanSolo is overwhelming, the range of loans is also large. Although reliable financial providers do not charge you hidden fees but offer transparent loan terms, you should still read the agreement before taking the offer. Cash advances come with different interest rates, commissions, amount limits, and terms. Therefore, you can consider all available options and choose the one that suits you best.
High level of safety and security: The site collects your personal information to process your application and match you with loan providers. But there is no need to tremble for your safety, as the platform has a really strong security system that meets the requirements of the US money lending law. So, the service uses 2048-bit encryption and SSL security protocol.
Professional support team: The support team is available for you 24/7. No matter what problem you have, they will be happy to help you. What's more, they respond to you fairly quickly, even if you contact support in the middle of the night. These are real professionals well-versed in lending issues. Thus, they will help you solve any problem and also give you worthy advice when you need it.
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Disadvantages of LoanSolo
Despite all the above-mentioned advantages of LoanSolo, the service also has some disadvantages. And you need to know them before deciding whether to use the platform. And so, the disadvantages of this site include:
Inability to get a loan in some states: The site operates under US law. And not all lenders are allowed to provide financial services throughout the country. The fact is that the legislation of some states prohibits the activities of lending companies on their territory. LoanSolo will inform you about the inability to take out a loan in your state before you apply for a cash advance.
Small loan amount: The platform will be great for those who need a small amount of money. If you are going to borrow $10 000, $50 000, or more, it's better to find another platform to take out a loan. LoanSolo matches you with companies that are ready to lend you from $200 to $5 000. At the same time, not even all lenders can give you as much as $5 000. This may come as an unpleasant surprise for those who need to make a major purchase, cover large bills, pay off a heavy debt, and so on.
No pre-qualification: The site does not provide pre-qualification for cash advances. You just fill out an application and get access to the best lenders. Next, you need to choose a loan offer and wait for approval, skipping the pre-qualification and pre-approval processes.
Not so many ways to contact support: The service offers only two options to contact support – by email and by phone. And this is not very convenient, as some similar sites provide customers with a useful online chat to solve problems as quickly as possible. However, limited customer service options do not prevent LoanSolo from giving quick responses to the borrowers.
Lending Requirements
Personal loans in the US are available only to those who are eligible for them. Accordingly, there are certain requirements you must meet in order for a lender to grant you a loan. And LoanSolo is a very loyal service in this regard. Its lending requirements include:
- Stable income and employment;
- US residence;
- Adult age (18 and over);
- Active bank account.
How to Obtain for a Loan on LoanSolo
Decided to apply for a loan with LoanSolo? It will not take you much time and effort. The whole process takes place online, which is very convenient in modern times. No paperwork, no hassle – just a few clicks, and the money is yours! Here are the steps you need to take:
1. Submit a request. As we have already said, the application form is as simple as possible. You will immediately understand what it’s all about as soon as you see it. At the first step of filling it out, you need to specify your:
- First and last name;
- Desired loan amount;
- Date of birth;
- Phone number;
- Email;
- Last 4 digits of your social security number;
- Zip code;
- Residential address.
The next step involves information about your place of residence, income, and job, including time at residence, monthly income, source of income, next pay date, your job title, and so on.
The third and final step of filling out the application requires you to provide your personal and banking information: the name and phone number of your bank, your bank account type and number, government-issued ID or driver's license, Social Security number, and some other data.
2. Check loan offers. Once you have approved your application, the service matches you with the best lenders that provide loans in your state. And this is where you need to be especially careful. You should explore all the available offers to choose the best one. If you are new to the lending industry, it’s important to know that loan providers charge different interest rates and fees for their services. Thus, APR can reach 400% and more, which is not very cost-effective. Moreover, pay attention to the repayment period and other loan terms offered by the lender. When you find what you need, e-sign the deal and wait for the approval.
3. Get your funds. The time it takes for the money to be credited to your bank account depends on your loan provider and bank. Most of the lenders LoanSolo works with send you money the next day after your loan is approved.
Our Final Thoughts
So, is it worth taking out a loan with LoanSolo? In general, the service is trustworthy and customer-oriented. There are no fees; you can enjoy all the services of the site for free. The platform provides you with up-to-date loan information and matches you with the best lenders in the US. Moreover, the service is safe since your data is protected by a strong security system.
The site also has some disadvantages, such as the unavailability of loans in some states.
The site also has some disadvantages, such as the unavailability of loans in some states. But this is a matter of law, so it's even better that the service works by virtue of legislation. Overall, the site is worth your attention if you need a quick cash advance between $200 and $5 000. So, feel free to take out a loan with LoanSolo and manage your money wisely!
Contact information
Company name:
LoanSolo
Website:
https://loansolo.com/
Phone number:
1 (855) 826-47-88
Email:
[email protected]
Opening Hours: Available online 24X7
Mon
Tue
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Thu
Fri
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Frequently Asked Questions
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Is LoanSolo legal?
This is a legal site that provides its services to US residents and respects the laws of each state. Moreover, the service works only with licensed lenders that abide by the law. -
Is a bad credit score accepted for LoanSolo?
Your credit score is not important when you apply for a loan with LoanSolo. You will be able to find both bad credit and no credit check loans available for those who don't even have a credit history. -
How fast can I get approval at LoanSolo?
The speed of approval depends on your loan provider. Customers usually wait for a lender’s decision from a few minutes to an hour. -
What are the consequences of non-payment?
If you fail to repay the loan on time, you will face additional fees. This may also affect your credit score and entail collection activities or even a lawsuit.
