Mililoans

What type of loans can I apply for here?

You can apply for a personal loan that can be used for any of your needs. From simple home and car repairs, catching up on bills or even taking a luxurious vacation. These personal loans can be a good alternative substitute for bank loans or high-interest loans from credit cards. You can apply online within minutes from the comfort of your home.

What is the cost of the loan?

There are multiple factors that affect your Annual Percentage Rate (APR). These factors include your credit history, employment status, state laws and more. Loan amount will play a role as well in determining the APR that you’ll be required to pay. All of the conditions will be given to you prior to the loan approval in the lender’s website.

What happens if I can’t pay?

Failing to pay on time will likely result in additional charges and fees. The amounts of the fees and charges are different from lender to lender and will be presented to you in the loan documents that you require to sign before you get approved for a loan with them. We strongly recommend that you avoid this type of scenario and contact your lender in case you are about to miss a payment. In most cases the lenders will do their best to accommodate your needs in order to avoid extra charges.

How often do I need to make a payment?

Every lender offers different terms for their loans. However, most lenders will match the repayment schedule to your needs by reviewing your paycheck frequency. This information will be given to you in the lender’s website and in the loan documents.

When will I get the money?

The time it takes to process a loan varies between the companies and also depends on which financial institution you have your bank account on. In most cases though, once approved the money is received on the next business day.

Do I need great credit score in order to apply?

Having a great credit score can definitely help you get approved but it is not mandatory. Most of the lenders perform soft checks that go through different national data bases that track transactions (DataX, Teletrack ETC) or through the three major credit reporting bureaus (Equifax, Trans union and Experian). However, each lender has their own set of loan review procedures and protocols.