|Basic requirement to get the loan
AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MH, MI, MS, MO, MT, NE, NV, NH, NJ, NM, NC, OH, OK, OR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WI, WY
|APR up to
|Time to money
|Next business day
Spotloan: Bridge the Gap Between Paydays
Are you looking for cash on the spot? Meet Spotloan, a great tribal loan service. Customers access funding fast without the drawn-out process of bank loans.
Everything is quick and easy with this service. You don’t need stellar credit scores nor a high income. Holding a normal stable job like millions of hard-working Americans is what primarily qualifies you as a potential client for on the spot loans.
We begin our Spotloan review with an overview of their website. What first catches your eye is the title, promising you a loan of up to $800 by the next day.
You get started by stating the loan amount starting from $300 with $100 increments to $800. Next, you select the bi-weekly repayments amount based on what you can comfortably handle. The options include $116, $117, $119, $122, $126, $137, $151 or $175.
The loan term or duration is pegged on the amount of monthly payments. For instance, a $600 loan with bi-weekly installments of $175 gives you 6 installments paid over 3 months. For the same loan, $116 installments yield a total of 21 installments (10 months).
What happens when you click “Apply Now?”
The ‘APPLY NOW’ button directs you to the first page of the loan process, where you’re required to provide personal details, used to confirm your identity and prevent fraud.
This info includes SSN; date of birth; main & back up phone number; physical address; residency information such as whether you rent, own or live with your parents, how much you pay as rent or mortgage payments, if you have been ever evicted, etc.
What are alternative payday loans paid in installments?
In this Spotloan review, it’s essential to differentiate alternative payday loans by tribal lenders from typical cash advance loans. With a Tribal lender, you repay your loan in equated installments over several months or weeks. Typical cash loans have to be fully repaid in just 14 days, which can be unmanageable.
What’s the interest of a Spotloan loan?
Spotloan offers a comparatively lower rate capped at 490%. Some short-term lenders may charge an APR of at least 700%. Your APR will differ based on the amount borrowed and the amount of payments.
Will my credit score get affected by applying to see my APR rate?
To find out your Spotloan interest rate, you have to apply as normal customers do. The good thing is that they don’t perform hard pulls on your reports from the three CRAs.
Advantages of Choosing Spotloan
- Transparent on fees & terms
You’ll not find a clear and simple illustration of the cost of the loan as you’ll do when accessing Spotloan credit. For instance, if you have six $175 payments to make, to find out the total repayment amount you calculate: (6 X $175) = $1050.Their website, particularly the FAQ section, will answer many of the lingering questions you might have. They even go as far as disclosing that they might call your friends or family if they can’t reach you, but won’t share any loan details.
- Just 10 minutes
Most customers, as the website hints, take just 10 minutes to finish the application. They also receive approval decisions on spot me loans in the shortest times.Shortly after submitting your form, you’ll receive an email instructing you on how to proceed.
- Same day approvals and funding
Living up to their pledge of cash on the spot, customers can access same day funding. The only requirement is that you apply and get your loan confirmed by 10 a.m. Central Time, which translates to 11 a.m. Eastern Time or 8. a.m. Pacific Time.
- Trusted service with lots of excellent reviews
The service has a high rating on Trustpilot and has garnered many excellent five-star ratings. All Spotloan complaints are handled diligently by the team who always look for a win-win outcome for both parties.There is also no Spotloan lawsuit in progress. The lender offers genuine loans to borrowers finding it difficult to obtain funds through other avenues. If you still hesitate, just read spot loans reviews from real clients.
- No prepayment penalties
You’re encouraged to lessen the interest amount by clearing off your loan ahead of schedule.
Spotloan Customer Service
The company makes it clear that they don’t discriminate customers based on race, religion, profession, gender or other arbitrary labels. For any inquiries, email email@example.com or call spot on loans phone number: (888) 681-6811.
We call ourselves CashSpotUSA, and we spread the idea that personal loans are not that complicated in dealing with. We believe that even a person with relatively bad credit scores can count on certain financial support in an emergency situation. Emergencies are something people never plan, that is why it is necessary to have a reliable indirect or direct lender to address. CashSpotUSA will get you acquainted with many lending options, accessible from the USA. Spotloan is one of those lenders on our list that can be trusted and relied on.
For better or for worse, the word “spot” is extremely popular in the area of crediting. That is why you can run into such lenders as “Spot Me Loans” or “Loans On The Spot” — these are not of our interest today.
Spotloan Application Process & Other Details
With Spotloan, you can count mainly on payday loans — short-term loans, which are to be repaid relatively soon. These are usually accompanied by high interest rates: this is a common picture for other payday lenders as well. With this lender, you can expect the maximum APR equal to 490% — an average APR for a traditional payday loan.
Such a personal loan can suggest you the amount of money equal to at least 300$ and at most 800$. If this is what you need, you can apply for a loan here — your credit history is not of importance.
Before you apply, however, check if you meet the following criteria:
- you are at least 18 years old
- you have a checking account or savings account
- you have a stable income
These are the main requirements for the potential Spotloan candidate. The application with all necessary information can be filled out online, which significantly simplifies the process of getting urgent money for emergency expenses.
Spotloan is known for its speed: the application procedure is really fast, and the form is usually processed rather quickly. With it, you can sign a loan agreement in the shortest terms — that is what people usually look for in online lenders.