In this article, we’ll be taking a Quick2Lend Review and we’ll look extensively at its features, how it works, its reliability and much more.
Quick2Lend is an online lender that offers short-term loans to consumers. They specialize in providing quick access to cash for borrowers who need funds to cover unexpected expenses or bridge a financial gap until their next paycheck.
Quick2Lend operates entirely online and offers fast loan approvals, with funds typically deposited into a borrower’s bank account within one business day. Their loan products include payday loans, installment loans, and lines of credit, and they aim to make the borrowing process as easy and straightforward as possible. Quick2Lend is reliable and trusted.
How Quick2Lend Works
Let’s take an extensive review of how the Quick2Lend platform works.
Description of the Loan Application Process
The loan application process with Quick2Lend is designed to be fast and easy. Here’s a general overview of how it works:
- Start the Application: To begin the process, borrowers can visit the Quick2Lend website and fill out a simple online application form. The form will typically ask for basic personal and financial information, such as name, address, income, and banking details.
- Submit the Application: After completing the application, borrowers can submit it online. Quick2Lend will review the application and may ask for additional information or documentation to verify the borrower’s identity and income.
- Get Approved: If the borrower is approved for a loan, Quick2Lend will typically provide an offer within minutes. This offer will include the loan amount, interest rate, and repayment terms.
- Accept the Offer: If the borrower accepts the loan offer, they will need to electronically sign the loan agreement and provide any additional information or documentation requested by Quick2Lend.
- Receive the Funds: Once the loan agreement is signed, Quick2Lend will typically deposit the loan funds into the borrower’s bank account within one business day.
Eligibility requirements
Quick2Lend has certain eligibility requirements that borrowers must meet to qualify for a loan. These requirements may vary depending on the type of loan the borrower is applying for, but in general, the following criteria apply:
- Age: Borrowers must be at least 18 years old to apply for a loan.
- Income: Borrowers must have a verifiable source of income, such as employment, self-employment, or government benefits. The income requirement may vary depending on the loan type and the borrower’s state of residence.
- Bank Account: Borrowers must have a valid checking account in their name, which is used for loan disbursement and repayment.
- Residency: Borrowers must be residents of the United States and have a valid address and phone number.
- Creditworthiness: Quick2Lend may consider the borrower’s credit history and credit score when making a loan decision, but they also offer loans to borrowers with less-than-perfect credit.
Types of Loans Offered
Quick2Lend offers several types of loans to help borrowers cover unexpected expenses or manage their finances. The loan products they offer include:
- Payday Loans: These are short-term loans designed to be repaid on the borrower’s next payday. Payday loans typically have high-interest rates and fees but can be a useful option for borrowers who need cash quickly and have limited credit options.
- Installment Loans: These loans allow borrowers to repay the loan amount and interest over a set period of time, typically in equal installments. Installment loans may have lower interest rates than payday loans, but the repayment term is longer.
- Lines of Credit: A line of credit is a type of revolving credit that allows borrowers to draw funds as needed up to a certain limit. Interest is only charged on the amount borrowed, and borrowers can make minimum payments or pay off the balance in full.
Loan Terms and Repayment Options
The loan terms and repayment options offered by Quick2Lend may vary depending on the loan product and the borrower’s state of residence. Here’s a general overview of what borrowers can expect:
- Loan Amounts: The loan amounts available from Quick2Lend typically range from $100 to $2,500, depending on the loan type and the borrower’s income and creditworthiness.
- Interest Rates and Fees: Quick2Lend’s interest rates and fees vary depending on the loan type, the borrower’s state of residence, and other factors. Borrowers should carefully review the loan agreement and understand the total cost of the loan before accepting the offer.
- Repayment Terms: Repayment terms for Quick2Lend’s loans may vary depending on the loan type and the borrower’s state of residence. For payday loans, repayment is typically due on the borrower’s next payday. For installment loans, the borrower may have several months to repay the loan, with payments due on a regular schedule. For lines of credit, the borrower can draw funds as needed and make minimum payments or pay off the balance in full.
- Prepayment Options: Quick2Lend allows borrowers to prepay their loans in full or in part at any time without penalty. This can be a useful option for borrowers who want to save on interest costs or pay off their loans early.
Features of Quick2Lend
Below are some features of Quick2Lend:
- Quick and easy online loan application process
- Loans of up to $1,000 available for qualified borrowers
- Flexible repayment options, including multiple payment plans and early repayment without penalty
- No hidden fees or charges, with transparent terms and conditions
- Fast funding, with approved loans typically deposited into a borrower’s bank account within one business day
- Good customer service, with knowledgeable and responsive representatives available to assist with questions and concerns
- Consideration of loan applications from borrowers with all types of credit histories, including those with bad credit
- Availability in select states across the United States
- Competitive interest rates and fees, with rates and loan amounts based on the borrower’s eligibility and creditworthiness
- Multiple security measures to protect the personal and financial information of borrowers, including encryption and other security technologies.
Pros of Using Quick2Lend
1. Fast application process and funding
Quick2Lend prides itself on providing a fast and easy loan application process and funding. Here’s what borrowers can expect:
- Quick Application: The loan application process with Quick2Lend is designed to be fast and easy, with a simple online application form that can be completed in minutes.
- Instant Decision: After submitting the loan application, borrowers can typically receive an instant loan decision, with the loan offer presented on the screen.
- Fast Funding: If the borrower accepts the loan offer and completes the loan agreement, Quick2Lend will typically disburse the loan funds into the borrower’s bank account within one business day. This means that borrowers can often receive their loan funds within 24 hours of applying.
- 24/7 Availability: Quick2Lend’s loan application platform is available online 24/7, which means that borrowers can apply for a loan at any time, even outside of traditional business hours.
- No Need for In-Person Visits: Borrowers can complete the entire loan application process online, which means that there’s no need for in-person visits to a bank or loan office.
2. Easy online application
Quick2Lend offers an easy online application process for borrowers to apply for a loan. Here’s an overview of the process:
- Visit Quick2Lend’s website: Borrowers can visit Quick2Lend’s website and start the loan application process by clicking on the “Apply Now” button.
- Fill out the application form: Borrowers will need to fill out a simple online application form with their personal information, employment information, and banking details. The application form typically takes only a few minutes to complete.
- Submit the application: After completing the application form, borrowers can submit it online.
- Receive loan decision: After submitting the application, borrowers will typically receive an instant loan decision, with the loan offer presented on the screen.
- Review and accept loan terms: If the borrower decides to accept the loan offer, they can review the loan terms and costs before accepting the loan agreement.
- Receive funds: If the borrower accepts the loan agreement, Quick2Lend will typically disburse the loan funds into the borrower’s bank account within one business day.
Borrowers should carefully review the loan terms and costs before accepting a loan offer to ensure that it’s the right option for their financial situation.
3. Flexible repayment options
- Payday Loans: For payday loans, repayment is typically due on the borrower’s next payday. Borrowers can choose to pay the loan in full on the due date or roll over the loan and pay the fees only.
- Installment Loans: For installment loans, borrowers can choose to repay the loan over several months, with payments due on a regular schedule. This allows borrowers to spread out the cost of the loan and make payments that fit their budget.
- Lines of Credit: For lines of credit, borrowers can draw funds as needed and make minimum payments or pay off the balance in full. This gives borrowers the flexibility to access cash when they need it and only pay interest on the funds they use.
- Early Repayment: Quick2Lend allows borrowers to prepay their loan in full or in part at any time without penalty. This can be a useful option for borrowers who want to save on interest costs or pay off their loan early.
4. No hidden fees
- Interest: Borrowers will typically pay interest on the loan amount borrowed. The interest rate can vary depending on the loan product and the borrower’s creditworthiness.
- Origination fee: Some loans may include an origination fee, which is a fee charged by the lender for processing the loan application and funding the loan. This fee is typically included in the loan amount and is disclosed upfront to the borrower.
- Late payment fee: If a borrower misses a loan payment or fails to make a payment on time, they may be charged a late payment fee.
- Non-sufficient funds fee: If a borrower’s bank account does not have sufficient funds to cover the loan payment, they may be charged a non-sufficient funds fee.
5. Good customer service
- Phone: Borrowers can call Quick2Lend’s customer service team during business hours to speak with a representative and get answers to their questions.
- Email: Borrowers can also email Quick2Lend’s customer service team with questions or concerns and receive a response within one business day.
- Live Chat: Quick2Lend’s website includes a live chat feature that allows borrowers to connect with a customer service representative in real time and get answers to their questions.
Cons of Using Quick2Lend
1. High-interest rates
Quick2Lend’s interest rates may be higher than those offered by traditional lenders, such as banks and credit unions. This is because Quick2Lend specializes in offering short-term loans to borrowers who may not have access to traditional credit products.
The interest rate for a loan from Quick2Lend will vary depending on the loan product and the borrower’s creditworthiness. Borrowers with lower credit scores may be offered higher interest rates than borrowers with higher credit scores.
It is important for borrowers to carefully review the loan terms and costs before accepting a loan offer from Quick2Lend to ensure they understand the total cost of borrowing. Borrowers should also consider whether they are able to repay the loan on time and whether the interest rate is worth the cost of borrowing.
2. Limited loan amounts for new customers
Like many other lenders, Quick2Lend may limit the amount of the loan for new customers. This is because the lender wants to establish a relationship with the borrower and ensure they are able to repay the loan on time before offering larger loan amounts.
For new customers, the loan amount may be limited to a few hundred dollars. However, as the borrower establishes a track record of on-time payments and demonstrates their ability to repay the loan, Quick2Lend may offer larger loan amounts in the future.
It is important for borrowers to carefully review the loan terms and fees before accepting a loan offer from Quick2Lend, regardless of the loan amount. Borrowers should ensure they are able to repay the loan on time and understand the total cost of borrowing before accepting a loan offer.
3. Not available in all states
Quick2Lend is not available in all states. The availability of Quick2Lend’s loan products varies by state due to differences in state regulations and laws governing lending practices.
Borrowers can check Quick2Lend’s website or contact their customer service team to find out if their state is eligible for the loan products offered. Quick2Lend’s website includes a list of states where their loan products are available.
It is important for borrowers to check the availability of Quick2Lend’s loan products in their state before applying for a loan. If Quick2Lend’s loan products are not available in their state, borrowers may need to consider alternative lending options.
Quick2Lend Review and Ratings by Customers
Customers’ experiences with Quick2Lend have varied. While some borrowers have had excellent experiences with Quick2Lend, others have had problems with the loan application procedure, exorbitant interest rates, and repayment challenges.
Positive Quick2Lend review frequently notes the speedy application procedure and loan funding. Some borrowers have reported receiving monies the same day they applied for a loan. Borrowers have also commended Quick2Lend’s customer support staff and the loan conditions’ and fees’ openness.
Negative Quick2Lend review frequently stresses the exorbitant interest rates linked with their loans. Some borrowers have complained that interest rates were greater than expected, or that loan costs were not properly stated beforehand. Other borrowers have claimed problems with the repayment process, such as hefty late penalties or difficulty establishing a payback plan.
Comparison With Similar Lenders
Quick2Lend is just one of many lenders that offer short-term loans to borrowers. Here are a few other lenders that offer similar loan products:
- LendUp: LendUp offers short-term loans to borrowers with poor or no credit history. The company emphasizes responsible lending practices and offers borrowers the opportunity to improve their credit scores through on-time payments.
- CashNetUSA: CashNetUSA offers short-term loans to borrowers in many states. The company emphasizes fast approval and funding times, as well as transparent loan terms and fees.
- OppLoans: OppLoans offers short-term loans to borrowers with poor or no credit history. The company emphasizes responsible lending practices and offers flexible repayment options to help borrowers avoid late fees and other penalties.
Frequently Asked Questions
- What types of loans does Quick2Lend offer? Quick2Lend offers short-term loans, also known as payday loans, that are designed to be repaid within a few weeks. The company offers loans of up to $1,000, depending on the borrower’s income and credit history.
- How can I apply for a loan from Quick2Lend? Borrowers can apply for a loan from Quick2Lend online by filling out a simple application form. The application process is fast and can be completed in just a few minutes.
- What are the eligibility requirements for a loan from Quick2Lend? To be eligible for a loan from Quick2Lend, borrowers must be at least 18 years old, have a steady source of income, and have a checking account in their name. Borrowers must also be residents of one of the states where Quick2Lend operates.
- How quickly can I receive funds from Quick2Lend? If a borrower is approved for a loan from Quick2Lend, they can typically receive funds within one business day. However, this timeline may vary depending on the borrower’s bank and other factors.
- What are the repayment options for a loan from Quick2Lend? Quick2Lend offers several repayment options, including automatic repayment and payment by phone or online. Borrowers can also contact Quick2Lend’s customer service team to discuss payment arrangements if they are unable to make a payment on time.
- What if I have a problem with my loan from Quick2Lend? If a borrower has a problem with their loan from Quick2Lend, they should contact the company’s customer service team as soon as possible. The team can assist with issues related to loan repayment, loan amounts, and other concerns.
- Does Quick2Lend charge any fees for its loans? Quick2Lend does charge fees for its loans, including an origination fee and a fee for late payments. These fees vary depending on the loan amount and other factors, and borrowers should carefully review the loan terms and fees before accepting a loan offer.
- Is it possible to extend the repayment period for a loan from Quick2Lend? Yes, borrowers can request an extension on their loan repayment period by contacting Quick2Lend’s customer service team. However, extending the repayment period may result in additional fees and interest charges, so borrowers should carefully consider this option before making a request.
- What happens if I am unable to repay my loan from Quick2Lend on time? If a borrower is unable to repay their loan from Quick2Lend on time, they should contact the company’s customer service team as soon as possible to discuss payment arrangements. Quick2Lend may be able to offer a payment plan or other options to help the borrower avoid defaulting on the loan.
- How does Quick2Lend determine loan amounts and interest rates? Quick2Lend determines loan amounts and interest rates based on several factors, including the borrower’s income, credit history, and state of residence. Loan amounts may be limited for new customers, and interest rates may vary depending on the borrower’s creditworthiness and other factors.
- What is the maximum loan amount that Quick2Lend offers? Quick2Lend offers loans of up to $1,000, depending on the borrower’s income and credit history. However, the actual loan amount may be lower based on the borrower’s eligibility and other factors.
- Is it possible to pay off a loan from Quick2Lend early? Yes, borrowers can pay off their loan from Quick2Lend early without penalty. This can help borrowers save money on interest charges and fees, and it is a good option for borrowers who are able to repay their loans ahead of schedule.
- How does Quick2Lend protect my personal and financial information? Quick2Lend uses industry-standard security measures to protect the personal and financial information of its customers. This includes using encryption and other security technologies to prevent unauthorized access to sensitive data.
- Can I apply for a loan from Quick2Lend if I have bad credit? Yes, Quick2Lend considers applications from borrowers with all types of credit histories, including those with bad credit. However, the company may charge higher interest rates and fees for borrowers with lower credit scores.
- Does Quick2Lend perform a credit check when processing loan applications? Yes, Quick2Lend performs a credit check when processing loan applications. However, the company does not have a minimum credit score requirement, and borrowers with all types of credit histories are welcome to apply.
- How long does it take to complete the loan application process with Quick2Lend? The loan application process with Quick2Lend typically takes just a few minutes to complete. Borrowers can apply online and receive a decision on their application within minutes.
- Can I cancel my loan application with Quick2Lend after submitting it? Yes, borrowers can cancel their loan application with Quick2Lend at any time before they accept a loan offer. However, once a borrower has accepted a loan offer and signed the loan agreement, they are committed to repaying the loan according to the terms of the agreement.
- Is Quick2Lend a direct lender, or does it work with third-party lenders? Quick2Lend is a direct lender, which means that the company provides loans directly to borrowers. This can make the loan application and approval process faster and more streamlined.
- How can I contact Quick2Lend’s customer service team if I have questions or concerns? Borrowers can contact Quick2Lend’s customer service team by phone, email, or online chat. The company’s customer service representatives are available to assist with questions, concerns, and issues related to loan repayment and other matters.
- Does Quick2Lend offer any special promotions or discounts to customers? Quick2Lend occasionally offers promotions and discounts to new and existing customers, such as reduced fees or interest rates. Borrowers can check the company’s website or contact its customer service team to learn more about current promotions and offers.
- Is Quick2Lend Legit? Yes, Quick2Lend is very legit and safe to use. It is verified by the government and is a fully registered and functioning company.
Conclusion
Quick2Lend is a good online lender and it is trusted however, you should be careful with any online money lending platform. So yes, about the Quick2Lend review and if it is good and trusted, here’s the answer: Yes, it is a good platform but you could also check out other platforms to compare the one that best fits your need.
If you are looking for an alternative to Quick2Lend, you can check out Credit One Bank or Lending Tree.
