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Is Grace Loan Advance Legit

Is Grace Loan Advance Legit?

Is Grace Loan Advance Legit? Grace Loan Advance is not a direct lender, but it is a legitimate company that connects borrowers with third-party personal loan providers. However, your loans may have high-interest rates and fees that are not disclosed until you receive the loan agreement from the lender. See below for more information about Grace Loan Advance.

For many people in financial difficulties, applying for a loan has always been the best alternative. Grace Loan Advance is a contemporary company that offers credit facilities for a variety of purposes. However, being a relatively new credit platform, its legitimacy has often been discussed extensively. Let us know Is Grace Loan Advance Legit?

Is Grace Loan Advance Legit?

Grace Loan Advance is a legit peer-to-peer lending platform that matches lenders with borrowers seeking short-term personal loans. The credits offered are structured as payday loans. Grace Loan Advance is not rated by Better Business Bureau (BBB). However, RBD Enterprises LLC, the parent company, has an A+ rating with the BBB.

About Grace Loan Advance

Grace Loan Advance, based in Los Angeles, was launched in 2015. It is a financial services company that offers lenders and borrowers in the United States multiple credit and investment options.

Grace Loan Advance is not a direct lender, but rather a broker between potential borrowers and independent third-party lenders who can provide loans ranging from $100 to $35,000. Lenders and borrowers are matched based on predefined criteria from each party.

Accreditation And Reviews

Grace Loan Advance does not have a Better Business Bureau (BBB) ​​profile; its parent company, RBD Enterprises LLC, has an A+ rating from the BBB.

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Still, it is best to exercise caution when applying for a Grace Loan Advance loan, especially if it comes with a short payment term and a high-interest rate. Borrowers’ online reports contain complaints about high-interest rates, as well as a lack of transparency about eligibility (i.e. minimum credit score requirement) and fees during the loan application process.

Application procedure for Grace Loan Advance

The Grace Loan Advance application process is simple. All you need to complete the application is a phone or computer with internet access and your relevant personal information. You will be asked to enter your suggested amount on the home page of the Grace Loan Advance website.

After entering the desired amount, you will be asked to enter your personal information such as social work information, address, and security number. You will then receive an email confirming your request. After that, your request will be processed and you will be credited immediately after the request has been accepted.

Benefits of Grace Loan Advance

Applying for credit on the Grace Loan Advance platforms has many benefits, including:

  1. You can rest assured that your applications will be successful if you meet all the criteria for the category and amount you are applying for.
  2. Instant Credit: Successful applications are credited in record time.
  3. Smooth application process: The application process is simple and the requirements are clear. To top it off, the process can be started or completed in minutes.
  4. Access to a large sum of credit: Borrowers are not limited to a small sum of money as they can borrow up to $35,000. This means that they can rely on Grace Loan Advance not only for their short-term credit needs but also to finance their capital-intensive projects.
  5. A large number of independent lenders: Grace Loan Advance is a community of free lenders that matches borrowers with lenders based on their loan requirements. A large number of lenders increase the chances of borrowers obtaining their applications and access to credit.
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  • APRs are as high as 35.99%.
  • Do not offer pre-approval with soft credit draw.
  • Charge prepaid rates.
  • Charge a fee for late payment.

Eligibility Criteria

The Grace Loan Advance website provides very little information about the eligibility of applicants. However, it has been confirmed to serve the entire United States of America. You must be at least 18 years old and there is a minimum credit score. In addition, potential lenders must have a stable job before applying.

In addition to these criteria, some lenders set specific criteria, especially for requests for a larger amount. It is recommended that you read the terms and conditions of your lender.

One thing to keep in mind when applying for a loan through Grace Loan Advance is that you will not know the fees associated with your loan until you receive the lender’s approval. Make sure you fully understand the terms of the loan and all associated costs before signing so that you can repay the loan on time.

It is also important to note that Grace Loan Advance collects your personal information when you are seeking loans and may provide this information to third-party lenders and marketing partners.

Is Grace Loan Advance Legit?

Grace Loan Advance is a legitimate indirect loan service that connects borrowers with lenders offering short-term personal loans. These loans follow the structure of payday loans or cash advances.

While it can offer loans up to $35,000, Grace Loan Advance specializes in connecting poor borrowers with lenders offering smaller loans. Keep in mind that these loans, while legitimate, are expensive and can lead to a debt cycle if you can’t repay them on time. The details of Grace Loans Advance loans are as follows:


$500 to $35,000


60 days to 72 months

APR Range:

6% to 36%


Varies by lender

Alternatives to Grace Loan Advance

Grace Loan Advance is a top-notch lending platform with many positive reviews. Other financial services companies in the same category include Bad Credit Loans and Zippy Loan.

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Frequently Asked Questions – Is Grace Loan Advance Legit

What is a personal loan?

Personal loans are unsecured loans provided by financial institutions based on predetermined criteria. They are periodic loans where you borrow a certain amount and repay it in a certain number of installments. Most lenders are peer-to-peer lenders.

What are the costs with Grace Loan Advance?

Interest and other variable costs are calculated based on the repayment term and the specification of each lender. Therefore, two requests, with the same amount and the same repayment period, may yield different interest.

However, interest rates vary between 5.99% and 35.99%.

Prepayment Period for Grace Loan

The repayment term is determined by the lender. The decision is often made based on predetermined criteria, such as the amount involved, the interest to be charged, and the creditworthiness of the applicant. Ideally, it should range between 61 days and 72 months.

Does Grace Loan Advance Personal Loans charge startup fees?

Grace Loan Advance Personal Loans does not charge any fees for creating a personal loan.

A personal loan fee is what some lenders charge to process, insure and fund a personal loan. Typically, the formation costs range from 0.5% to 5% of the amount of the personal loan. Where possible, opt for lenders that do not charge startup fees.

Does Grace Loan Advance Personal Loans charge late fees?

No, Grace Loan Advance Personal Loans will not charge you a late fee if you miss any of your monthly payments.

Is Grace Loan Advance Legit – Conclusion

If you need more money to get through difficult times, consider taking out a personal loan. These can come in handy for paying car payments, taking vacations, paying off large debts, or just about anything that might need a little extra cash.

Grace Loan Advance is a legit financial solutions platform. It is a market where borrowers and lenders come together to negotiate on mutual terms. Despite the legitimacy of the platform, potential borrowers should exercise caution when applying for loans on the platform. The terms and conditions attached to each application must be reviewed before they are accepted.

I am Mr. 9jaboizgist, a dedicated content writer and the proud owner of 9jaboizgist, a versatile blog covering a wide array of topics. With a passion for blogging and a knack for delivering up-to-the-minute information, I specialize in curating engaging content in the fields of technology, business, finance, banking, loans, insurance, and the Internet.