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!
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 |
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.
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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.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
Senior Editor
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