Thinking about getting a loan from Grace Loan advance but feeling unsure. With so many options out there and mixed reviews, it’s hard to know which ones are reliable. Looking for more information before making a choice is important, this article will help you decide whether Grace Loan is legit or a scam.
The Truth About Grace Loan
Grace Loan, founded in 2015 and based in Los Angeles, offers personal loans across all 50 states in the U.S. Their loan offer starts at $1000 and goes up to $35,000 and they offer competitive rates — 5.99 percent APR to 35.99 percent APR. Applying is quite easy, you fill out a form with your personal information on graceloanadvance.com, which is then sent to lenders. The money could be in your account by the next business day. However, before you sign up, there are some important concerns you should consider.
Concerns About Grace Loan
First of all Grace loan is simply a service provider and not a representative or broker of any lender. It does not charge you for any loan, It simply collects your personal information and then forwards it to lenders who are mostly their partners.
Secondly, We came across a few independent reviews online which are overly positive. A particular customer complaint on Reddit talk about the company not disbursing the loan payment as agreed.
Lastly, the company isn’t accredited by the Better Business Bureau (BBB), and there may be hidden costs. It’s difficult to find out what fees you’ll be charged until you receive your loan agreement and review the details.
Pros
- It is available in all 50 states of the U.S
- Easy online application process
Downsides
- Fees aren’t clear until you get the loan agreement
- Not accredited by the Better Business Bureau.
Who Can Apply for Grace Loan Advance
You’ll need to be at least 18 years old and a citizen of the United States before you apply. Also, there’s probably a minimum credit score and income requirement, but these details aren’t listed.
Customer Service
If you have problems, reach out to their customer service via: (424) 317-8925, Address: 4470 W Sunset Blvd, Los Angeles,California 90027 Or Email: [email protected].
Is Grace Loan A Scam
No it is not a scam, however the company does not reveal the people behind the lending network and they are missing some important means and links on their official website for example you cannot access their “About us” menu this makes it difficult for borrowers to fully understand details about the company and all they have to offer.
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