TakeLend personal loan connection service review April 2018

TakeLend personal loan connection service review

All credit types welcome at this small-dollar loan connection service with 100+ partners.

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Need to borrow money, but think you’ll have trouble getting approved for a personal loan? TakeLend might be able to find you the money you’re looking for.

This provider welcomes all credit types and could save you time by quickly connecting you with a lender in its network. It’s best for small, short-term financial solutions. So if you’re looking for a large loan with a longer term, TakeLend might not be for you.

Product NameTakeLend Personal Loan Connection Service
Min Loan Amount$1,000
Max. Loan Amount$15,000
APRWon't exceed 35.99%
  • Age 18 or older
  • US citizen or permanent US resident
  • Employed
  • Active checking account that allows electronic deposits
  • Not an active member of the military
  • Not residing in AK, CO, NY, VT or WV

TakeLend is not available in the following states:

Arkansas, Connecticut, New York, Vermont and West Virginia

What makes TakeLend unique?

Plenty of loan-connecting services out there accept applicants of any credit type. But you might be hard-pressed to find one with a larger network of lenders.

TakeLend’s network includes more than 100 lenders, significantly increasing your chance of connecting with one willing to offer the type of financing you need.

It partners with the usual online lenders as well as local financial institutions that typically offer lower-interest financing. (But beware: Getting your funds can take some time with these institutions.)

How does getting a loan through TakeLend work?

TakeLend connects borrowers with lenders offering personal loans ranging from $1,000 to $15,000. These loans are typically unsecured and have fixed interest rates.

Interest rates and fees can vary by lender, depending on factors like your credit score and history, debt-to-income ratio, loan amount and type of lender you’re borrowing from.

While it’s difficult to provide a range of what your interest rates might be, providers that accept all levels of credit typically come with higher APRs.

What are the benefits of TakeLend personal loan connection service?

  • Large network of lenders. TakeLend’s access to such a large variety of lenders make it more competitive against similar connection services.
  • All credit types welcome. You don’t need perfect credit to be considered. That doesn’t mean your lender won’t do a credit check — many have low cutoffs or give more weight to other aspects of your financial history.
  • It’s fast. Minutes with TakeLend can potentially save you hours of searching for lenders in your area you might qualify for.
  • It’s free to use. Like similar services, TakeLend doesn’t charge its users any fees. Instead, it makes money on leads it sends to its network.

What to watch out for

TakeLend might not charge you fees, but it’s gotta make money. It keeps its doors open by charging partner lenders fees for leads.

This doesn’t necessarily affect which lender you’re connected with, though it does limit your options somewhat. Just be aware that your interests aren’t the only thing it has in mind.

Here are other potential drawbacks to look out for:

  • Hard to get an idea of APR before submitting your info. It’s partnered with so many loan providers, and you won’t know even an APR range to expect before filling out an application.
  • Limited website. At first glance, it looks like TakeLend’s site is one page outside of the application. Scrolling to the bottom reveals links to other pages — none of which have very detailed information. Plus, some pages haven’t been updated, providing contradictory information about loan amounts.
  • Almost no online presence. We couldn’t find any customer reviews of this service online — strange, given its network includes so many providers.
  • No customer service phone number. If you have a question throughout the process, you won’t be able to speak to someone on the phone. You’ll need to submit an email through its contact form.

Compare more personal loan connection services

Rates last updated April 21st, 2018
Name Product Minimum Credit Score Max. Loan Amount APR Product Description
Even Financial Personal Loans
4.99%–35.99% (fixed)
Get connected to competitive loan offers instantly from top online consumer lenders.
Monevo Personal Loans
3.09%–35.99% (fixed)
Quickly compare multiple online lenders with competitive rates depending on your credit score.
CompareFirst Personal Loans
2.99%–36% (fixed)
An easy-to-use loan connection service geared toward introducing first-time borrowers to affordable personal loans.
LendingTree Personal Loan
Varies by lender (fixed)
Receive up to five loan offers in just minutes through LendingTree's simple online form.
Zippyloan Personal Loans
Varies by lender
Varies by lender (variable)
Apply with Zippyloan to be considered by over 100 lenders, all offering multiple loan options to suit your needs.
TakeLend Personal Loan Connection Service
All credit types welcome
Won't exceed 35.99% (fixed)

Compare up to 4 providers

What do other online reviews of TakeLend say?

Almost nothing — which is concerning for a service with so many providers. It has no Better Business Bureau page and nothing on Trustpilot, Reddit or any other forum that we could find.

We did find a review of the site’s safety on scamadviser.com. The site was given a 93% safety rating — high enough for it to be relatively trustworthy. However, it warned that it appears the website was created in the Cayman Islands — notorious for its lax finance laws.

Am I eligible?

TakeLend welcomes all types of credit. To be eligible, you’ll need to meet a handful of requirements:

  • You must have an active checking account that allows for electronic deposits.
  • You must be at least 18 years old.
  • You must be employed.
  • You must be a US citizen or permanent US resident.
  • You cannot be an active member of the military.
  • You cannot live in New York, West Virginia, Arkansas, Vermont or Connecticut.

The best loans tend to go to people who:

  • Make at least $2,000 a month at a job they’ve had for a while and have good payment history on previous credit accounts.

Ineligible states

Most US citizens are eligible to submit their information for a loan. But if you live in the following states, you’ll need to look elsewhere:

  • New York
  • West Virginia
  • Arkansas
  • Vermont
  • Connecticut

How do I submit my information?

  1. Once you’ve established that you’re eligible, you’re ready to start.
  2. Click Go to site on this page (the link doesn’t work if you live in an ineligible state).
  3. Fill in your contact information and loan amount, and read the privacy policy, terms of use and e-consent documents before checking the box to consent. Click Get Cash Now.
  4. Follow the steps to enter your personal, employment and bank account information before submitting your application.
  5. Wait for lenders from TakeLend’s network to make an offer.
  6. If you get an offer you like, follow the lender’s directions to apply. Once approved, you could have funds transferred to your personal checking account as soon as the next business day.

I got a loan through TakeLend. Now what?

What happens next depends on your lender — TakeLend is now completely out of the picture. You might want to set up autopay if it’s an option so that you don’t have to worry about making manual repayments each month.

Know how to find your lender’s customer service quickly if you need to reach out with any questions or have trouble making repayments. If your loan doesn’t come with prepayment penalties, consider repaying your loan early to save on unnecessary interest.

Bottom line

TakeLend could be a great resource if you’re looking for a small loan fast and have trouble finding lenders. It’s not a great resource if you’re looking to fund a big project that costs over $15,000, however. And its lack of an online presence raises some red flags for us.

Even if it sounds like TakeLend is right for you, consider first taking a look at other loan connection services before filling out an application.

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