Getting a good loan with bad or fair credit scores is tricky. Some services accept co-borrowers who drag their numbers up, ensuring you are eligible. Others, however, are unwilling to give these users a chance and only allow people with excellent credit to sign up.
The 100Lenders loan works quite differently. Rather than judging a book by its cover or score, we submit your credit proposal to multiple lenders to review and respond to your request, submitting fixed proposals that may or may not be accepted. That way, you can start paying off a low-interest personal loan instead of high-interest credit card balances or other debt – whether you can improve your home, pay off your debts, pay off your new car, or other reasons.
If you’re looking for a company that offers good interest rates, doesn’t dig through your credit history, and has great reviews, this might be it. We’ve brought you some details about 100Lenders and their personal loan service to help you decide.
Read on to understand everything about this personal loan provider, including advantages, disadvantages, and how you can successfully apply for this loan.
Advantages of using the 100Lenders Loan
The 100Lenders Loan can give you some advantages, such as:
- Consolidate other types of debt;
- Cover unexpected medical expenses;
- Pay for car repairs;
- Pay for a wedding;
- Work on home improvements;
- Cover the cost of emergencies such as vet bills, broken computer repair, and more.
100Lenders is not a lender itself, so it cannot decide what the APR and rate of the loan would be. With that, the cost of 100Lenders loans depends on the agreement you have signed with the network’s lenders.
Cons of using the 100Lenders
Certainly 100Lenders is not perfect. To begin with, 100Lenders does not represent direct creditors, but is just a space where debtors and creditors can meet.
Therefore, you have no control over the terms of the loan, including interest rates, fees and other charges. Another important point is that 100Lenders loans are not available for some US states such as New Hampshire, Connecticut, Vermont and Washington.
If you are from these states mentioned, you need to find other lenders for you.
How to Apply
If you are over 18, non-military, and have a minimum income of $1,000, you can apply for 100Lenders Loans through the following steps.
1) Go to 100lenders.com, fill in the required details and submit your request
2) Check out their various offers from available lenders on the net and compare.
3) Continue your application process after selecting a suitable offer
4) Subscribe and receive the fund
You can apply quickly using the official 100Lenders website.
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