Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Mobile phones play an important role in our lives. Email, meetings, video conferencing, even making huge purchases are all available at our fingertips, anywhere we go.
Today if you need a loan you don’t have to look past your mobile phone. Many lenders in the US have mobile-friendly websites and apps through which they offer mobile loans. Applying for a loan this way requires that you have access to an Internet-enabled mobile phone. If you’re considering applying for a mobile loan, going through this guide will serve you well.
Mobile loans are loans you can apply for using your cell phone, provided it has access to the Internet. This takes away the need to visit a physical location or to find it on a desktop computer. These loans work the same way as online loans.
You start the process by submitting an application using your mobile through the lender’s website or an app. Upon approval, the lender presents you with a loan contract. Once you accept the contract’s terms and conditions, the lender transfers the approved funds into your bank account.
You then have to repay the loan in accordance with a predetermined repayment plan.
If you’re looking for a mobile loan you get various options to choose from:
When you’re looking for mobile loans, various aspects require your attention:
|Security.||This is one of the biggest concerns of online loans. Good providers use the latest in encryption technology to keep your information secure. They make use of bank-level security measures and they don’t share your information with third parties.|
|Online tools.||Some mobile loan websites offer loan calculators. You can use these calculators to find out what your repayments will look like ahead of time, allowing you to borrow as per your affordability.|
|Application process.||Some financial institutions allow their existing customers to apply for mobile loans by logging into their accounts, minimizing the information you have to provide. If you have to go through an identity verification process, find out if you can complete it online.|
You won’t be able to apply for a new loan unless you’re a returning customer.
Pause repayments, look for low-cost relief to cover expenses and other tips to keep your finances healthy while unemployed.
Compare 6 lenders offering loans that you can qualify for with a credit score under 580.
If your hospital already borrowed, consider these alternatives before payments are due.
While the SBA is now processing PPP loan forgiveness applications, many lenders have yet to start working through their backlog.
The Balance Assist loan, set to launch in January 2021, offers loans from $100 to $500 for a flat $5 fee.
Bank of America is offering loans from $100 to $500 for a $5 flat fee and 90 days to repay starting in January 2021.
Get near-instant access to LendFi loan funds, plus earn 4% cashback on all purchases with the LendFi Visa Card.
A standard connection service without many details on its lenders.
Social distancing has forced lenders to make major changes that are here to stay.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.