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ExtraLend.com installment loan connection service review
Last updated:
Get an installment loan of up to $3,000 with this online loan connection service.
$100
Min. Amount
$3,000
Max. Amount
Same business day to 1 business days
Turnaround time
Details
| Product Name | ExtraLend.com Installment Loans |
|---|---|
| Min. Amount | $100 |
| Max. Amount | $3,000 |
| Loan Term | 6 months to 2 years |
| Loan Security | Unsecured |
| Turnaround Time | Same business day to 1 business days |
| Requirements | Must be at least 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income. |
How does ExtraLend.com work?
ExtraLend.com is not a direct lender. Instead, it is a service that connects borrowers with short-term loan lenders.
ExtraLend.com’s network of lenders provide installment loans of up to $3,000. To apply for a loan, you must first complete a free application on ExtraLend.com. If you qualify for a loan, ExtraLend.com connects you with a lender.
If you’re offered a short-term loan and accept the terms and conditions, you could receive your funds in just one business day.
Top three reasons to use ExtraLend.com’s service
- Free online application. ExtraLend.com’s simple and secure application process takes just minutes to complete.
- Easily find a lender. ExtraLend.com quickly connects you with lenders and loans you qualify for.
- No obligation offers. You’re free to select the offer that best fits your financial needs — and you’re not obligated to accept any of them.
What to watch out for
Installment loans can be handy in a financial pinch, but be wary of several potential drawbacks that include:
- High APRs. Some lenders seek to capitalize on their borrowers with high interest rates. Don’t be surprised to find APRs as high as 1,386% with this one.
- Late fees and penalties. Paying late or paying off your loan early or late can result in hefty hidden fees.
- No loan guarantee. Applying for a loan through ExtraLend.com does not guarantee you a loan. The success of your application depends on whether you meet the eligibility criteria of the lenders in its network.
How does ExtraLend.com compare to other providers?
A general warning about installment loans
Short-term loan products like installment loans offer quick access to capital but are associated with steep interest rates and non-negotiable fees.
The drawbacks of short-term loans could outweigh the perks. To avoid slipping further into debt, explore alternative financing options before applying for an installment loan.
Is ExtraLend.com legit?
Yes. ExtraLend.com is a reputable loan connection service. Its website keeps your information safe and secure through data encryption. Keep in mind that ExtraLend.com will share your information with its partner lenders in order to connect you with an installment loan. You may also receive promotional materials from other companies if ExtraLend.com shares your information for marketing purposes.
ExtraLend.com reviews and complaints
| Trustpilot score | 3.7 out of 5, based on 45 customer reviews |
|---|---|
| Customer reviews verified as of | 16 October 2020 |
Am I eligible for an installment loan through ExtraLend.com?
ExtraLend.com can’t guarantee you a loan, but your chances of success are higher if you’re:
- At least 18 years old.
- A US resident with a valid bank account.
- Employed for at least 90 days with the same employer.
How do I apply?
- Click the Go to site button on this page to be directed to the application form. Start by entering the amount you’d like to borrow, your ZIP code and your email address, then click Get Started.
- Enter your personal information, including your address, Social Security number and date of birth. Click Next Step.
3. Enter your employment and income details. Click Next Step.
4. Provide your bank account information, including your account and bank routing numbers.
5. Finally, review the Privacy Policy and Terms of Use. If you agree, click Submit to submit your application.
I got a loan through ExtraLend.com. Now what?
- Don’t miss a payment. Keep track of your payment schedule to meet payment due dates. You could also set up automatic payments through your bank account. Late or missed payments come with stiff fees and penalties.
- Avoid refinancing your loan. If you’re unable to meet the terms of your loan, ExtraLend.com will work with you to refinance any remaining amount — or even increase it. It may sound tempting, but instead look into alternatives to avoid becoming entangled in a debt spiral.
Bottom line
ExtraLend.com’s installment loan connection service can streamline the loan application process. But the service does not guarantee you a loan, you’ll need to carefully review your specific lender’s terms and conditions before making a decision.
A short-term installment loan could get you over a financial hump. If you have time or creditworthiness on your side, consider your other installment loan options.
