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Compare Loan Agencies in Connecticut

Compare Loan Agencies in ConnecticutPayday 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