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SignatureLoan personal loans review
Quickly find the right lender by using this connection service.
finder.com’s rating: 3.5 / 5.0
★★★★★
SignatureLoan is a connection service that has a large network of lenders that offers up to $35,000. But there aren’t many reviews, and there’s no guarantee you’ll be able to borrow such a large amount.
Details
| Min. Loan Amount | $1,000 |
|---|---|
| Max. Loan Amount | $35,000 |
| APR | 5.99% to 35.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | 330 |
| Loan Term | 3 months to 6 years |
| Turnaround Time | Varies by amount |
Do I qualify?
Although exact eligibility criteria will depend on the lender you’re connected with, SignatureLoan requires you to meet a few basic points when you submit your information.
- You must have a gross monthly income of at least $1,100
- You must have a checking or savings account.
- You must be a US citizen, permanent resident or hold a long-term visa
- You must be at least 18 years old
How does SignatureLoan work?
Rather than borrow directly from SignatureLoan, you instead submit a form to see if you qualify for a personal loan from one of the lenders in its network. Loan amounts vary from $1,000 to $35,000, and approval depends on a variety of factors, including your credit score, income, current debts and bankruptcy history.
Your APR will also depend on the lender you’re connected with, though rates start as low as 5.99%. However, these low rates are usually for borrowers with good to excellent credit — those with fair or bad credit may face much higher rates.
How does SignatureLoan stack up against other loan brokers?
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What are the benefits of using SignatureLoan?
- Accepts all credit backgrounds. SignatureLoan works with a variety of lenders to find the best option for a wide range of people, including those with bad credit.
- Quick online form. It only takes about five minutes to complete a request. If you meet all of the eligibility requirements, you could be connected with a lender just a few moments later.
- Available in most states. SignatureLoan provides services in all states except Maine. However, loan amount, APR and repayment terms vary by lender, state law and your credit score.
- Large loan amount. You can borrow up to $35,000 through SignatureLoan’s partner lenders — but make sure the interest rate and repayment options match your budget.
- E-signature. Signature Loan utilizes e-signatures to speed up loan approval and processing. E-signature allows you to complete all documents online without any physical paperwork or scanning. Not needing to send in documentation means faster processing times, meaning you can get your funds sooner.
What to watch out for
- Biweekly repayments. Some of SignatureLoan’s partner lenders ask for bi-weekly instead of monthly repayments. Make sure you know how often payments apply when considering the cost of a loan.
- Potentially short terms. You might end up with a short loan term, which can result in high monthly repayments on larger amounts.
- Few online reviews. While this might not necessarily be a bad thing, it makes it difficult to know what to expect when you’re taking out a loan.
SignatureLoan reviews and complaints
There isn’t much out there on SignatureLoan. It’s not uncommon for loan connection services — many borrowers review the lender they’re connected with, not the connection service itself.
If you are connected with a lender, check its Better Business Bureau (BBB) or Trustpilot rating. This can help you decide if you want to pursue a loan with the lender.
Am I eligible?
To fill out SignatureLoan’s form, you must meet a few basic requirements:
- You must be a US citizen, permanent resident or in the US on a valid long-term visa
- You must have a monthly income of at least $1,100 after taxes
- You must have a bank account
- You must be at least 18 years old
Although SignatureLoan has lenders in many states, residents of Maine aren’t eligible.
How do I get started?
- Click Go to Site to be redirected to SignatureLoan’s website.
- Enter the amount you would like to borrow, your zip code, your estimated credit, your monthly income, your full name and your email address. Then click Get Started.
- Select the reason you need a loan, your date of birth and if you’re an active duty military member. Click Continue to Step 2.
- Enter information about yourself, including your phone number, address, income and employment.
- Read over its Privacy Policy, Terms and Conditions and other important documents. Then click Submit.
It may take a few minutes for SignatureLoan to connect you with a lender. If you are, you’ll be redirected to its website to complete the application process.
I was connected with a lender. Now what?
Once you’ve been connected to a lender, read over its terms carefully. Most lenders in SignatureLoan’s network only require an e-signature to get a loan, but a few may require additional documentation that you’ll need to submit during the application process.
Depending on your lender, you may have to make a repayment once or twice a month.
You can choose to pay off the full loan before it’s due, which may help you save on interest. Many of the lenders in SignatureLoan’s network don’t charge prepayment fees.
Bottom line
If you’re looking for a quick way to get a personal loan up to $35,000, SignatureLoan may be able to connect you to a lender. But with limited online reviews and a potentially expensive loan, it might not be the best choice for you.
Before choosing to go with SignatureLoan, make sure to compare your personal loan options to see what rates you can get.
Frequently asked questions
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