Compare Loan Agencies in Connecticut
Payday lending services are a legal entity that has the right to carry out payday activities under the terms set by law. A microfinance organization can provide payday loans of up to $1,000, as well as long-term loans of up to $5,000.
What distinguishes a payday lending service from a bank?
- Simplicity – loan processing is less formalized than in a bank.
- Speed of loan processing.
- Accessibility – MFIs often work where there are no bank branches.
- For the borrower – high interest on the loan.
- For the investor – the safety of funds is not guaranteed by the state.
| Lender | Fixed rates | Loan amounts | Min. credit score | Best suited for |
| Avant | 9.95% – 35.99% APR | $2,000 to $35,000 | 550 | Borrowers with poor credit rating |
| Axos Bank | 6.79% – 17.99% APR | $10,000 to $50,000 | 700 | Borrowers with perfect credit score |
| Best Egg | 4.99% – 35.99% APR | $2,000 to $50,000 | 600 | Borrowers with median credit score |
| Discover Personal Loans | 5.99% – 24.99% APR | $2,500 to $35,000 | 660 | Long repayment terms |
| Freedom Plus | 7.99% – 29.99% APR | $10,000 to $50,000 | Not disclosed by lender | Consolidating high-interest debt |
| Lending Club | 7.04% – 35.89% APR | $1,000 to $40,000 | 600 | Need a cosigner |
| Lending Point | 9.99% – 35.99% APR | $2,000 to $36,500 | 580 | Borrowers with near-prime credit |
| Light Stream | 3.49% – 19.99% APR | $5,000 to $100,000 | 660 | Large loan amounts |
| Marcus by Golden Sachs | 6.99% – 19.99% APR | $3,500 to $40,000 | 660 | Budget-friendly repayment options |
| One Main Financial | 18.0% – 35.99% APR | $1,500 to $20,000 | None | Borrowers with below-average credit |
| PayOff | 5.99% – 24.99% APR | $5,000 to $40,000 | 600 | Consolidating credit card debt |
| ProSper | 6.95% – 35.99% APR | $2,000 to $40,000 | 640 | Home improvement loans |
| SoFi | 6.99% – 21.78% APR | $5,000 to $100,000 | Does not disclose | Borrower perks |
| Universal Credit | 8.93% – 35.93% APR | $1,000 to $50,000 | 560 | Borrowers with the desire to biuld their credit |
| Upgrade | 5.94% – 35.97% APR | $1,000 to $50,000 | 560 | Fast loan funding |
| Upstart | 4.37% – 35.99% APR | $1,000 to $50,000 | 580 | Borrowers with little to no credit history |
Why payday lending services are popular among borrowers?
Advantages of lending options offered are:
- simplicity. The user does not have to spend time collecting a package of documents, everything necessary for issuing a loan is always at hand.
- convenience. You can send a request for a payday loan Connecticut from home. To do this, you need a computer or gadget with access to the Internet.
- efficiency. Most payday loan agencies consider user requests within a few minutes and within half an hour after sending the form to the borrower, funds are transferred to the bank account.
- availability. A payday loan can be transferred to the borrower in any way convenient for the client. This can be a bank transfer, a transfer through any online payment system, cash withdrawal at the company’s office or withdrawal at the nearest terminal. One of the simplest and most convenient ways to get a loan is to transfer online to a bank card.
- fair terms. A loan is an interest-charged loan. Therefore, before submitting an application, it is worth carefully studying the terms of the chosen MFI. The rules for repayment of borrowed funds should be described in detail here – from monthly payments to terms of use.
Category: Online Loans
Tags: Connecticut, finance, online lenders, payday loans