These Zippyloan reviews look at the loan amounts, repayment periods, Zippyloan interest rates, and speed of disbursement of these small loans with partnered lenders.

Loan platforms are a good place to start if you need a loan but don’t want to waste time filling out multiple forms on multiple websites. They are also a good solution for people who don’t know which creditors they will accept based on their credit scores.

With a lending platform like ZippyLoan, you can see which lenders may want to do business with you by filling out one form. This ZippyLoan review goes into the highs and lows of what this lending platform has to offer.

What is ZippyLoan?

ZippyLoan is a lending platform – it won’t lend you money, but you can find a company that will. You fill out a form on the ZippyLoan website and they will forward your information to affiliated lenders.

They then have the option to pass it on or try to borrow it from you.

How does Zipplyloan work?

How does Zippyloan work? Here’s what you need to know about Zippyloan to determine if it’s the right financial move for you.

1. What is the loan amount?

Personal loan limits vary by lender. Some financial institutions only offer small short-term loans, while others have higher minimum and maximum credit requirements.

With Zippyloan’s network of lenders, there is flexibility to obtain a short-term or long-term loan between $100 and $15,000.

2. How long is the loan?

Zippyloan’s network of lenders offers flexible repayment schedules based on your need – ranging from 6 months to 72 months.

If you’re looking for a short-term loan (or one with a paycheck), repay the balance in full on your next payday. For a larger loan, you will probably need a longer repayment term.

In that case, the platform matches you with a creditor who allows payments in multiple installments.

3. What is the minimum income requirement?

When you use Zippyloan to take out a personal loan, no minimum income is required to qualify.

However, you must have a steady source of income.

Thereafter:

  • You must provide detailed personal and employment information.
  • Some lenders use an online verification system to confirm this and may ask you to file tax returns, such as a recent paycheck.

4. What is the minimum credit requirement?

The good news about Zippyloan is that you can be approved regardless of your credit history.

There is no minimum credit score to apply. Remember Zippyloan is not a lender and does not spend any money. Therefore, your ability to qualify for bad credit depends on your network of lenders.

Some of these lenders work with all types of credit, including bad credit debtors.

Said that:

Zippyloan does not guarantee a match with creditors.

5. How fast can you borrow money?

It can take up to a week to get money when applying for a personal loan through a bank or credit union.

  • Fortunately, Zippyloan works faster than traditional financing.
  • It only takes a few minutes to complete an application.
  • If you’re approved, you can have the money deposited into your bank account the next business day.

6. What are the ZippyLoan Interest Rate?

You can expect ZippyLoan Interest Rate with every personal loan.

ZippyLoan Interest Rate offers competitive interest rates on long-term personal installment loans. However, the fees vary depending on your credit history and the amount borrowed.

If you apply for a short-term small loan through the company’s network of lenders, you will pay a loan fee.

The fee depends on the lender and the loan amount.

For example, one lender may charge $10 for every $100 borrowed, while another charges $30 for every $100 borrowed.

Keep in mind that short-term loans usually mature in full within 14 days. Therefore, personal loans have a high annual percentage.

Other possibilities

Good credit is not only crucial to get approved for a personal loan, but a personal loan can also help build or rebuild your creditworthiness.

One benefit of using Zippyloan’s creditor network is that many of these creditors will report their timely payments to the three major credit bureaus. This includes Experian, Equifax, and TransUnion. Timely payments add positive history to your credit report, which helps improve your credit score.

Typically, lenders only report lending activity on long-term loans. Therefore, if you are getting a short-term salary loan, this information may not appear in your credit file.

Getting a personal loan through Zippyloan is also beneficial as these loans are generally unsecured.

This is different from a traditional bank or credit union loan, which is sometimes secured. These loans require you to provide collateral, such as a vehicle title, to qualify. If you don’t repay the loan, the lender can claim your property as repayment.

Unsecured loans are attractive because borrowers do not have to pledge personal property. Just know that, without collateral, these loans will have a higher interest rate. And, depending on the lender, a low credit score can prevent you from getting an unsecured personal loan.

How to Apply For ZippyLoan?

Application is simple and can be done in just 5 minutes.

Step 1: Fill out the online form

You must request the required amount of money and the reason for the loan. You also need to enter your employment details, date of birth, and some other details.

Step 2: Read this contract and sign if you feel comfortable with it

If one of ZippyLoan’s affiliated lenders wants to offer you money, they will send you a loan agreement. You have to take a good look at this.

You may even want a friend to check if they are more knowledgeable about loans than you are.

While it’s always important to review a contract, it’s even more important here because ZippyLoan doesn’t offer a set number of APRs offered by the lenders they work with. You could expect anything under 35 percent and it could easily be much, much more — even in the hundreds.

Since some of ZippyLoan’s affiliated lenders require your loan to be repaid at the next paycheck the borrower receives, you’re probably looking at some predatory installment loans that can get you into a debt cycle that’s hard to get out of. You should always find an alternative to help you with your financial problems – payday loans should always be your last resort.

Step 3: wait for your money

It should arrive the next business day, although in some cases it may take a little longer.

Getting Approved for a Zippyloan

Zippyloan does not have a long application process. To get started, you’ll need to fill out an online form. This should not take more than five minutes.

Based on the information you provide, Zippyloan puts you in touch with a lender. If you agree to the terms of the loan from the lender, sign the loan agreement via email. The lender will then deposit money into your bank account the next working day.

You just need some information to start the loan process. This includes your name, address, and income/occupational information.

Please also note that you must be at least 18 years of age or older to be eligible. While a bad credit history doesn’t get in the way of approval, understand that certain lenders within the network only work with borrowers with excellent credit.

If you have a bad credit history, Zippyloan can match you with a lender that caters to subprime borrowers.

But even if credit to Zippyloan doesn’t matter, a higher credit score increases your chances of getting approved and receiving the best offers from lenders.

It costs nothing to check your credit before signing up. You can get your credit report at AnnualCreditReport.com and your credit score at MyFico.com.

If you have a low score, take steps to improve your FICO assessment. This includes paying your bills on time and paying off any past debts.

Raising your credit score not only helps you qualify for a long-term loan, but it also helps you get a low-interest loan. This can save hundreds over the life of the loan.

Pros and Cons of ZippyLoan

Are you on the fence about ZippyLoan? Going through a list of pros and cons can help you decide.

Pros:

  • Low loan minimum
  • Rapid approval and disbursement of funds (if approved)
  • No minimum credit score requirement

Cons:

  • The maximum loan amount is relatively low
  • The interest rate is relatively high

ZippyLoan FAQ

Will I get one of those payroll loans I was told about through ZippyLoan?

You may. Some of your creditors demand that you return them on your next paycheck. These lenders are likely to charge astronomical APRs, so proceed with extreme caution — or better yet, find another loan.

You may also not get a pay stub and get a decent APR.

What can I use this loan for?

You can decide whether to use it to catch up on abnormal spending, auto repairs, or debt consolidation. While many lending platforms ask what you want to use the money for, in the end, you can spend it however you want.

Can I be linked to a loan partner through ZippyLoan if I have bad credit?

Yes, that’s possible. But your chances of getting a loan are higher if you have better credit. And if your credit score is very low, be prepared for offers with extremely high APRs.

If your credit is extremely low, you should be aware that if you are offered a loan, it will likely be for a lower amount.

Can I get the full loan amount of $15,000?

Even if you qualify for a loan through one of ZippyLoan’s affiliate lenders, that doesn’t mean you get $15,000. Even if you ask for this amount, the lender may decide to offer you a lower amount based on your information, such as your creditworthiness and income amount.

What if I need a loan extension – do I have options?

ZippyLoan cannot help you with any financial issues you may face after getting the loan. If you’re having trouble making payments, it’s best to call your lender right away to get something resolved.

Conclusion – Zippyloan Reviews

Zippyloan is great if you’re looking for a personal loan but don’t have a specific lender in mind.

The company works with a network of lenders and based on your loan and credit needs, they can find the right person for you.

While they are an option, these unsecured loans can be expensive. Short-term loans have high APRs.

And since no collateral is required for a long-term loan, you pay a higher rate. It may be cheaper to apply for a secured personal loan through a bank or credit union (if you have collateral).

The top:

Bad credit doesn’t get in the way of approval.

These loans come in handy if you can’t qualify for a traditional loan and want to rebuild your credit history.