Frequently Asked Questions

Loan Advance is a loan connection service that connects borrowers with potential lenders. We are not a direct lender but help you find loan options from our network of partner lenders. Our service is completely free and designed to save you time by matching you with lenders who may be able to help with your financial needs.

Loan amounts typically range from $500 to $5,000, depending on your creditworthiness, income, and the lender's requirements. The exact amount you can borrow will be determined by the lender you're matched with. Factors that influence loan amounts include your credit score, income level, employment history, and debt-to-income ratio.

The initial application takes about 5 minutes to complete. The matching process typically takes a few minutes to a few hours, depending on the time of day and lender availability. During business hours, you may receive responses within minutes. Outside business hours, it may take longer as lenders review applications during their operating hours.

No, our service is completely free to use. We don't charge any fees for connecting you with lenders. Any fees will be clearly disclosed by the lender before you accept their offer. We are compensated by our partner lenders when you successfully obtain a loan, but this doesn't affect the terms or cost of your loan.

We connect borrowers with various types of personal loans including debt consolidation loans, emergency loans, home improvement loans, and general personal loans. Our partner lenders offer both secured and unsecured loan options with terms typically ranging from 3 to 36 months.

We work with lenders who consider applicants with various credit scores, including those with poor credit. While options may be more limited, there are still lenders who may be able to help. Some lenders specialize in working with borrowers who have less-than-perfect credit, though interest rates may be higher.

Our partner lenders have different credit score requirements. Some work with applicants who have poor credit (below 580), while others require good credit (above 680). We'll match you with lenders based on your credit profile. Even with lower credit scores, you may still qualify for loan options, though terms may vary.

We perform a soft credit check to help match you with appropriate lenders. This soft inquiry doesn't affect your credit score and is only used for matching purposes. The actual loan approval decision is made by the individual lenders after you accept their offer.

You'll need to provide personal information (name, address, phone), employment details, income information, and bank account details. All information is kept secure and encrypted.

Yes, many of our partner lenders work with self-employed individuals. You'll need to provide proof of income, such as bank statements, tax returns, or profit and loss statements. Some lenders may require additional documentation to verify your income stability.

Currently, our application process is designed to be completed in one session. However, if you need to step away, you can start a new application when you're ready. We recommend completing the application in one sitting to ensure the best experience and fastest processing.

Interest rates vary by lender and depend on your creditworthiness, loan amount, and term. Rates typically range from 5.99% to 99% APR. The exact rate will be disclosed before you accept any loan offer. Your credit score, income, and loan amount all factor into the rate you receive.

Most lenders allow early repayment without penalty, but terms vary by lender. Check with your specific lender about their early payment policies. Early repayment can save you money on interest charges.

Loan terms typically range from 3 to 36 months, depending on the lender and loan amount. Shorter terms usually have higher monthly payments but lower total interest costs, while longer terms have lower monthly payments but higher total interest costs.

You can reach our customer support team at support@loan-advance.com. We're available Monday through Friday, 9am to 6pm EST.

Yes, you can cancel your application at any time before accepting a loan offer. Simply contact our support team and we'll help you cancel the application. There are no fees or penalties for canceling your application.

We take all complaints seriously and work to resolve them quickly. Contact our support team with your concerns, and we'll investigate and respond within 24 hours. If you're not satisfied with our response, you can escalate your complaint to our management team.