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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!

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by Aline Augusto

Published on 02/26/2022

Eloan: a loan that meets your needs!

See what the benefits of the Eloan are. Source: Eloan.
See what the benefits of the Eloan are. Source: Eloan.

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. 

APRFrom 8.99% to 21.49%
LOAN PURPOSEPersonal: debt consolidation, credit card consolidation, emergency loans, small personal loans, home improvement, tiny house financing, medical loans
LOAN AMOUNTSFrom $2,000 to $35,000
CREDIT NEEDEDNot specified
TERMSFrom 2 to 5 years
ORIGINATION FEENone
LATE FEENot disclosed
EARLY PAYOFF PENALTYNone
Celular com aplicativo eloan

How to apply for Eloan?

Personal loans that meet your needs by Eloan! Check out how to apply!

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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

Keep reading this Eloan review. Source: Unsplash.
Keep reading this Eloan review. Source: Unsplash.

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.

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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.

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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.

Celular com aplicativo eloan

How to apply for Eloan?

Personal loans that meet your needs by Eloan! Check out how to apply!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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