This Texas-based loan broker provides an online platform where consumers with bad credit scores are connected to direct lenders that supply short-term bad credit loans.
It's not a direct lender. It's a network of providers throughout the US that focuses on assisting consumers with short term cash emergencies. It offers a simple online application that matches your loan requirements with suitable lenders.
Minimum Credit Score: | Not applicable |
BBB Rating: | A |
Loan Duration: | Not published |
Loan Amount Range: | $100 - $5000 |
APR Rates: | Not published |
Minimum Down Payment: | 10% on auto loans |
As a loan broker, the provider has developed an automated platform to apply for various loans with bad credit. Its website appears to offer a lot of information, but it's repetitive.
Its online application form is a process in which it does a soft credit check to pre-qualify you and match you with potential direct lenders. It's a one-page request form, and it'll ask you to complete three sections. If approved, your funds will be deposited directly into your bank account.
The application form requires you to complete these three sections:
When applying for a payday loan, you can borrow up to $1000 for two weeks, or your next payday. No APRs are published as the provider is not the lender. It does warn on its website that payday loans are expensive.
Its installment loans may range from $100 to $5000, depending on your income and payback ability. As with its payday loans, no rates or fees are published. The application form is the same as for the payday loans with no additional information required. The direct lender will also determine your payback term.
Make sure to read all the fine print before you accept a quote.
It's always difficult to determine the pros and cons of loan brokers. With many lenders in its network, it's an easy and fast way of being matched with a willing lender.
It's frustrating that you have no way of knowing beforehand who you are dealing with, what it will cost you, and what the terms will be.
Apply online - Your application is completed on the provider's website, and if all relevant information is verified, it's forwarded to participating lenders.
Receive offer - All lenders who have accepted your loan sends a quotation back to Green Day's website for your perusal. It's important to compare all the offered rates and terms before accepting a quote.
Finalization - Part of the terms and conditions is the approval for an e-signature, which means you will accept and finalize your loan completely online. Most deposits are made in one business day.
When applying for a loan through this provider, your application is sent to multiple potential lenders. Each one of the direct lenders will have its own set of fees and terms. It would be best if you compared the APR and payback term each one offers before making a final decision.
Green Day advertises a free service. It's normal for loan brokers to receive a referral fee from the direct lender, and you can expect that fee to be absorbed into your APR.
The criteria for applying is the following:
Its website offers a simple FAQ section under the 'loan info' menu. If you have questions that aren’t addressed in the FAQ, you can also contact its customer service department via:
Although its website looks fresh and professional, it's a repetition of the same information and gives you very little important information needed. With limited information available and no way to determine beforehand who you will be dealing with, it seems rather unnecessary to use a go-between to obtain a loan.
It would be advisable to find a direct lender that offers bad credit loans with fixed rates and terms upfront. Lending Point is a trusted provider that accepts credit scores as low as 600. Upstart can offer you up to $50 000 and 5 years to repay. With a provider like Upgrade, you can also receive larger lending amounts and longer repayment terms.
How To Finance A Laptop When You Have A Bad Credit? 
Bad Credit Loans Compared: Upstart Vs. Avant 
How Can I Get A Mortgage With A Low Credit Score In The Age Of Covid-19? 
Will My Spouse's Bad Credit History Affect My Credit Score? 
Can My Bad Credit Score Prevent Me From Getting A Job? 
The Most Common Reasons For Declining A Mortgage Application 
How Setting Up Experian Credit Score Alerts Can Help You 
6 Things You Must Know If You Need Long-Term Loans For Bad Credit 
How To Get An Instant Auto Loan Approval With Bad Credit? 
You Can Apply For These Loans Without A Bank Account 
