100LoanApproval.com Review: A Referral Service Which Does Not Inspire Confidence
- 1 What is 100LoanApproval?
- 2 Technical Characteristics of 100LoanApproval.com
- 3 Is 100LoanApproval.com Legit?
- 4 100LoanApproval.com Reviews
- 5 Customer Support
- 6 Conclusion
What is 100LoanApproval?
100LoanApproval.com is not a lender of any kind but rather an online referral service which is connecting people with a network of direct lenders. Their mission to give consumers access to quick money when they need it most. They pride themselves on being different. The matching company cooperates with over 150 reliable lenders who are always ready to issue a loan for your individual needs.
|Loan types||Min.amount||Max.amount||Period||APR||Items Required||Bad credit|
|Payday loans (cash advance)||$100||$1,000||2 weeks or more||1990%||SSN, Driver’s License No., State ID||Yes|
Types of Loans
100LoanApproval works with a vast network of various direct lenders offering short-term advance loans (also known as payday loans). These loans are unsecured and invented specifically to help people until their next payday. Using payday advances, you can cover unexpected expenses (bills, car repair. celebrating an event, going on a vacation) avoiding late payment charges. You can always use your loan at your discretion.
Payday loans are provided very quickly because they come with low qualifying requirements and because they are short-term. A lender can generally provide money within 24 hours, although some companies can transfer funds within a couple of hours.
A client must have an active bank account set up with direct deposit to get the money transferred. They say this is the most secure way to provide money as quickly as possible
100LoanApproval.com does not make any loan decisions and does not lend funds to people because it’s just a link between you and a lender. The company never charges clients a fee to qualify for a short-term loan.
According to the website, the referral service works with a huge network of lenders and can direct you to the right lending company in a couple of minutes. The system automatically chooses the best lender suitable for you based on the personal and financial details you provide during application.
You will have to repay your original loan and interest on the next day you get paid.
Using this website, you can get up to $1000. The maximum loan amount will be determined by your lender.
To qualify for a loan, you must meet some requirements:
- Be at least 18 years of age;
- Earn at least $750 every month;
- Have a bank account with an active debit card in your name;
- Be a legal resident of the USA.
Even if you rent a house, you can still qualify for a loan.
You can get a loan for approximately 2 weeks, although some lenders may provide loans for longer or shorter terms, depending on the wishes of the client. Customers can get funds quickly and do not need to meet strict eligibility requirements. Borrowers will usually only need to provide a proof of identification and to have an active bank account and a regular income.
100LoanApproval reminds that payday loans may involve high costs and gives an example: in general, a borrower will be charged $25 for every $100 borrowed. Various lenders may have different costs but a client will always be able to see the total costs of a loan before he signs the documents.
I found a table which shows how loan costs depend on the amounts borrowed:
They also mention that APR is 1990% but this is an annual interest. For example, if you borrow $300 for 1 month, you will have to pay off $375, which means that the actual interest will be 25%.
The company offers a 2-step application process: you need to fill out an online request form and check your bank account.
During application, you will be asked to provide some basic personal and financial details: name, address, phone number, employment information and banking details.
According to the website, you do not need to fax any documents to your lender as the process is purely online. However, they also mention that in rare cases, the lender may ask fax simple documents for him to be able to approve your loan request.
They say the whole application process takes about 5 minutes from start to finish including e-signing your loan documents.
Payday loans are to be repaid on your next payday. The specific repayment instructions will be provided in your contract. When it’s due date, the money is automatically withdrawn from you banking account so there is no need to go anywhere in order to clear your debt.
If you wish to repay a loan before the due date, you need to contact the lender. In this case, you can save some money and get a partial refund of your loan fee.
If you feel you are unable to make a payment on the specified date, you also need to contact the lender. Maybe you will be offered an alternative repayment schedule.
So, if you have any question concerning your loan repayment, you need to contact your lender directly since 100LoanApproval is just an intermediary.
Nothing is mentioned whether you can get a loan extension. I think it depends on a lender and you should ask him in advance whether you will qualify for a loan renewal or not.
They also mention that you cannot have more than one payday loan with 100LoanApproval at a time, so you must repay all other payday loans before you qualify for another one.
100LoanApproval.com Bad Credit
This referral service does not check your credit score and does not make any loan decisions because it’s not a lender. Most of its lenders do not perform any credit checks as well. So even borrowers with a bad credit score or no credit at all can be approved for payday loans.
Technical Characteristics of 100LoanApproval.com
According to the website, the company respects its clients’ right to privacy when providing their personal details. They say their website uses modern security measures to maintain the safety of borrowers’ sensitive personal information. They say 100LoanApproval.com uses a 128-bit Secure Socket Layer encryption technology. But the truth is that this website does not have a secure connection:
Regretfully, this means that your personal information can be stolen by third parties. I conclude that using this referral service is a risky business. I would not want my name, address, and account number be stolen.
To date, almost everyone has a mobile phone and sometimes a tablet device. Modern devices, in addition to their direct purpose of making a call, can also be used to send e-mails, as well as to quickly find the necessary information on the Internet and even apply for a loan online. Almost 10% of all traffic is taken away by mobile devices.
Therefore, every good online company must have a mobile version of its site (or its own mobile application).
A mobile version should be optimal for both regular customers and customers who make a one-time transaction. The front page should include all the basic elements. Images should also be small for fast loading.
A mobile version should also have a high degree of usability, i.e. be easy to use, which will provide success to the web resource. Mobile version should be equipped with convenient navigation using buttons, icons, icons, etc. Text links should be avoided. Large buttons are the most convenient tool for navigating the mobile version of the site.
According to the Google Mobile Test, 100LoanApproval.com does not have a mobile version.
The analysis data reported that the content on this website is wider than your screen, the text is too small to read, clickable elements are close together, the viewport is not set. Besides, the site uses incompatible plugins.
This means you may have inconvenience when using this site from your smartphone or tablet. I would never return to such a website but would search for other websites that are mobile-friendly.
I found a McAfee SECURE icon on the website of 100LoanApproval. But there is no proof that they really use an antivirus. The thing is that this icon is not clickable and seems to be a pure picture. This means that visiting this website you can get your computer infected with dangerous malware programs. Some viruses may even steal your sensitive banking information.
I would recommend the site’s owner to provide a real antivirus protection because all clients prefer to use safe and secure online referral services.
The Convenience of Use
To start an application process, you do not need to register on the website. You only need to fill out a questionnaire and click the Submit button. Within a minute, you will be matched with a direct lender who is suitable for your needs.
If you are connected to a lender and approved, you will get a loan offer with all the rates and terms specifies. If you accept these terms, you need to electronically sign the document. However, nobody obliges you to accept a loan offer. If you are not satisfied with the terms, you can simply reject the offer and submit a new request. The matching service will attempt to connect you to another company.
Once you e-sign the contract, the lender will transfer your funds into your bank account the same day on the next working day.
In general, the application is easy, however, there are some aspects that worry me: the website has an old-fashioned design, page loading speed is very slow (some elements could not be loaded at all), and there are many errors on the site. I even have doubts that this site is still active. All these drawbacks make me refuse using this referral service.
Is 100LoanApproval.com Legit?
I checked the reputation of 100LoanApproval using ScamAdviser. This website has a high trust rating of 95% out of 100%:
However. I do not quite understand why the verification service gave such a high trust rating to this company: the website’s owner is hidden, the popularity is unknown, the site’s location is Thailand, the website’s speed is slow. Besides, ScamAdviser mentioned that this website may have associated risk. The legitimacy of this company remains under a big question.
There are no customer reviews on the website of 100 Loan Approval. This may be due to the fact that this is only a bridge between a client and a lender. However, there are many referral websites that regularly receive feedback.
Regretfully, I was not able to confirm the real performance and reputation of this service so I had to look for some external comments.
Reviews on Independent Third-Party Websites
I hoped to find at least a couple of 100LoanApproval reviews on third-party sources especially knowing that this website has been operating for over 3 years. Regretfully, I found neither positive nor negative comments about this lender referral service. For this reason, I cannot say whether this company is legit or fraudulent.
I found no 100LoanApproval contact information: no phone number, no email address, no mailing number, no legal address.
I would prefer to use websites that indicate their actual location and phone number. After all, users submit sensitive details to this website and it’s very important for them to know the background and contacts of this company.
There is no information about states in which payday loans are available. So it may turn out that your state is not eligible for short-term cash advances. This is a relevant information which should be placed in plain sight.
Getting a Consultation
If you have any comments, complaints, suggestions, or questions relating to 100LoanApproval services or short-term loans in general, you can reach the customer support representative by filling out a contact form. Regretfully, this is the only way of contacting the company.
However, if you have any questions about your payday loan (rates, fees, repayment, extension, and so on), you will need to consult your lender directly. The lender’s contact information will be provided on its own website.
Since there are no other ways of reaching a 100LoanApproval representative, I decided to full out a contact form in order to make sure they are still active. I waited for 5 hours but did not receive a response. This means that their customer care department is either very slow or the referral service is no longer active.
CashNow.com is another lender matching service which is able to find payday loans up to $1000 within 24 hours. The only advantage of this service is that people can avoid filling out multiple applications on the websites of multiple lenders. The company has a good reputation under the version of ScamAdviser, however, I’m skeptical about its legitimacy. The website seems to be located in Thailand although they claim that they are based in the USA. I was not able to find any user reviews, no contact information. I was not even able to reach their customer support. Besides, this website has poor technical characteristics, though it was advertised otherwise. I suspect that this referral service is no longer active and recommend you avoiding it.