Legit Loans Online

How to Determine Legit Online Lenders That Are Safe and Trusted

Be sure you get legit online loans. We are work with the Online Loan Network and only work with the most trusted online lenders in the industry. All lenders in our network abide by the guidelines of the Online Lenders Alliance. We have a large network of direct lenders that are safe and secure. We leverage our vast network to try and get you approved.

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How Do I Know If an Online Loan is Legit?

There are few key points that you will want to look for when vetting online lenders. Let's look a few:

A Secure Website – Before you begin any online application be sure the website is secure. You can check this by looking for the “padlock” symbol in the URL bar. If it is there then the site is secure.

Contact Information – Every legit lender has contact information available that is easy to find. This should include a business address, phone number, and email address. Try the phone number before you start the application.

Reviews – Do a quick search and check the reviews for any website you are considering. Any website offering a legit online loan will have some reviews. If they have no reviews or negative reviews then find a different lender.

No Money Upfront – A legit online lender will never require you to pay money upfront before receiving your money. You should see red flags if any finance company ever request you send them money before receiving your funds.

Clearly Defined Fees – Any finance company operating online that is a legit business will have their fees and interest rate clearly defined. If you can't find their fee schedule then look for a different lender.

What is a Legit Online Loan?

A legit online loan is short term financing that is offered to your legally. Every state has different laws and statutes regulating short term credit. In order to be “legit” the online lender must abide by all these laws. It states where it is required, the lender should be fully licensed with the Department of Finance. Any regulation governing the annual percentage rate and loan terms should be followed.

Lenders Should Review Your Ability to Repay The Funds

Direct lenders need to make a reasonable decision regarding short term credit that allows you the ability to repay the funds. If you make $600 each month, no online lender should loan you $50,000 based on your signature that is due in 12 payments. This is an extreme example, but any legit lender will take into account your ability to make payments on time based on your income level.

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Legit Loans Online Will Have Clear Terms and Conditions

Take the time to review the Terms and Conditions of any loan agreement offered to you. It is not the most exciting literature but it does require your attention. Make sure there are no surprises in the fine print. Any company offering online legit loans will not have any surprises.

Do They Have A Privacy Policy? What Does it Cover?

Review the privacy policy before submitting any of your personal information. Some lenders may use your personal information for more than just evaluating you as a credit applicant. It is up to you to decide how you want your information used.

What is Required to Get a Loan Online?

There are a few industry standards that you will need to have in order to receive financing or at least a loan offer.

Residential Address – Lenders need to know where you live. Your state of residence can have a dramatic effect on your ability to obtain financing.

Checking Account – You need an open checking account so the online lender has a way to transfer the money into your possession.

Must be 18 Years Old – No legit lender will ever offer a loan to anyone under the age of 18.

Steady Income – Finance companies need to know that you can repay the borrowed funds. It is one of the most important aspects of the loan application.

Report Online Scams

If you ever feel you have been taken advantage of or see lenders that are not following the regulations set forth by your state, you should report them to Consumer Affairs. You can also contact the department in your state that handles consumer complaints. This is how the internet is policed and how you can help the next person to avoid predatory lenders and online scams.

There are many Legit Loan Options Online

The internet is not the Wild West that it used to be. Many of the shady characters and lending sites have gone the way of the dinosaur. That does not mean they do not still exist. Use your best judgment and never sign anything you are not completely comfortable with.