Reviews (US)
Eloan review: what you need to know before applying
In this Eloan review article, you will learn how to get a loan with flexible terms to accomplish your goals and cover up your financial needs. Check it out!
Advertisement
by Aline Augusto
Eloan: a loan that meets your needs!
Eloan was founded in 1997 as a digital lender. Since then, it has helped people to accomplish goals and meet their needs through simple financial solutions. Check out this Eloan review article to find out more.
In 2016, Eloan became a Banco Popular de Puerto Rico (BPPR) division, a significant institution with over 125 years of experience in the banking industry.
Nowadays, Eloan offers a simpler and smarter banking experience to all its customers. It is known as a digital bank that empowers people with effective solutions so they can dream about something and achieve it.
APR | From 8.99% to 21.49% |
LOAN PURPOSE | Personal: debt consolidation, credit card consolidation, emergency loans, small personal loans, home improvement, tiny house financing, medical loans |
LOAN AMOUNTS | From $2,000 to $35,000 |
CREDIT NEEDED | Not specified |
TERMS | From 2 to 5 years |
ORIGINATION FEE | None |
LATE FEE | Not disclosed |
EARLY PAYOFF PENALTY | None |
Advertisement
How does the Eloan work?
A personal loan can be used to do a home improvement, a tiny house financing, a debt consolidation, credit card consolidation, for small needs, emergencies, and medical issues.
This lender offers amounts from $2,000 to $35,000 and terms ranging from 2 to 5 years. There are no hidden fees and no origination or prepayment fees whatsoever.
However, you should know that it charges a late fee after a grace period. But it is not disclosed on their website.
Even though all credit scores are accepted in the application process, there is no guarantee you will get your loan if you have a poor credit history. Since it doesn’t specify the credit needed, we recommend having at least a good credit score to apply for it.
In addition, the interest rates start at 8.99%. Plus, you apply online, choose the offer that fits your needs and goals better, get a decision in 1 hour, and get your funds as soon as the next business day.
Eloan benefits
Eloan features loans from $2,000 to $35,000 for a full range of personal reasons. There are no hidden fees, and the interest rates are quite reasonable.
Also, it offers calculators, tools, and resources so that you can make a wise and simple decision about your loan.
Furthermore, this lender has good reviews on the internet, which is pretty good to consider.
Pros
- Eloan offers good loan amounts with flexible terms;
- It provides you with calculators, tools, and resources;
- It has good reviews on the internet;
- Also, it doesn’t charge origination or prepayment fees.
Cons
- It doesn’t disclose all requirements for the application.
What credit score do you need for Eloan?
Although it says it accepts a range of credit scores, Eloan doesn’t disclose the minimum required so you can be approved for a loan.
How to apply for Eloan?
If you are interested in making a home improvement or just need a fast loan for an emergency, Eloan might offer an excellent deal for you. Check out how to apply for it now.
Aline Augusto
Aline Barbosa
Senior Editor
Trending Topics
Mastercard® Luxury Gold credit card full review
The Mastercard® Luxury Gold credit card features a reward program, 24/7 Concierge Service, and more! Keep reading to learn all about it.
Keep ReadingJetBlue Card review: great travel card at low cost
Check out the JetBlue Card review post and learn how to enjoy several benefits and points at a $0 annual fee and no foreign transaction fees.
Keep ReadingThe 10 best personal loans for bad credit 2021
Meeting your basic needs can be a struggle, and may make you ask for credit. If you have bad credit, learn the best personal loans for you!
Keep ReadingYou may also like
What are the chances of the US going into another recession?
The prospect of a recession is looming large in America. But how high could that risk actually be? In this article we’ll cover what could cause it, and how you can prepare for it. Read on to find more out about!
Keep ReadingCopper - Banking Built For Teens review: fees, rates, and more
Does your teen need a jump-start into the world of finances? Check out Copper’s Banking Built for Teens account review! Learn about this innovative solution!
Keep ReadingA 101 guide on what is cryptocurrency: start investing now!
The cryptomarket is an innovative market surrounded by expectations and uncertainties. This article will clarify it and explain what a cryptocurrency is.
Keep Reading