What Is ZippyLoan?
ZippyLoan is an online loan-matching service that connects borrowers with personal loan options that fit a variety needs. With loans ranging from $100 to $15,000, their products can help you fund anything from smaller expenses, like utility bills or rent payments, to events which require larger amounts, such as home improvement projects or a down payment on an automobile.
ZippyLoan might be a good fit if:
- You are having trouble getting approval for loans through direct lenders
- You want to compare rates without sending a large number of individual applications
- You want immediate financing for a range of expenses
ZippyLoan Rates & Terms
|APR range:||5.99% – 35.99%|
|Available loan terms:||Up to 5 years|
|Loan amounts:||$100 – $15,000|
|Credit needed:||All credit types accepted|
|Income needed:||No minimum income required|
|Best for:||Smaller loan amounts, those struggling with approval from direct lenders|
|Click “Check Rates” to pre-qualify and receive a personalized rate.|
Interest rates: Most of the annual percentage rates for ZippyLoan range between 5.99% and 35.99%. However, due to the variety of lenders who this company works with, some of their rates may fall out of this range.
Cost: ZippyLoan’s origination, late payment, prepayment and insufficient funds fees are dependent on the lender, the amount of the loan and the borrower’s state of residence and credit score. ZippyLoan’s website does not offer information about the range of fees and costs associated with its products.
How fast can you get your money? Loans from ZippyLoan can fund as soon as the next day, depending on the product and the lender.
How to Qualify for ZippyLoan: ZippyLoan does not require a minimum credit score or annual income to be eligible for one of their loans. However, applicants should be over 18 years of age, have verifiable and regular income, have a bank account and reside within the United States.
Types of Loans ZippyLoan Offers: ZippyLoan offers unsecured personal loans of up to $15,000, with loan repayment terms of up to 60 months. A personal loan is a type of loan that is intended to cover personal expenses such as home improvement, debt consolidation, down payments and personal projects.
Loan Example: If a borrower takes out $9,000 with an interest rate of 20.2% and a loan term of 40 months, the minimum monthly payment will be $311.01.
ZippyLoan Pros and Cons
- Quick to fund
- Over a hundred partner lenders
- Wide range of loan amounts for a variety of financial needs
- Quick, online application
- Decision within minutes
- No minimum credit score or annual income requirement
- Easier for borrowers with low credit to find a loan that they’re approved for
- Several ZippyLoan users have filed complaints with the Better Business Bureau
- No customer service telephone number
ZippyLoan Approval Process
ZippyLoan’s approval process starts with a five-minute application on their website. Before applying, you’ll want to have your financial information, address and contact information available. Their homepage is also optimized for both iOS and Android users if you decide to apply on your smartphone.
Once you complete the application, the site will process your information and provide you with offers within minutes. The offers that you will receive are based on your credit score, state of residence, verifiable income and financial history. You can then review and e-sign your loan agreement if you decide to accept any of the offers.
Lenders Like ZippyLoan
Before you make a final decision on a loan, it’s always wise to compare rates from a number of different lenders. Here are some additional companies you might want to consider applying to:
- 24/7 Loan Pros – Like ZippyLoan, 24/7 Loan Pros is an online personal loan-matching service that connects applicants with lenders and products that suit their needs and financial qualifications. They offer amounts ranging between $500 and $35,000, with APRs typically falling anywhere between 5.99% and 35.99%.
- OpenLoans – OpenLoans offers loans of up to $40,000, with APRs ranging between 4.99% and 35.99%, although some of their rates may fall outside of this. Their products typically fund within three business days, so if you’re looking immediate cash, you might want to apply with a different service or lender.
- LoanStart – LoanStart connects applicants with personal installment, peer-to-peer and bank personal loans with amounts starting at $1,000 with a maximum of $35,000. Their minimum APR is 6.63% with a ceiling of 36%. Due to the variety of loan types and lenders LoanStart is affiliated with, this service also caters to borrowers with a wide range of financial qualifications.
- OneMain – OneMain is a personal installment loan provider offering loans ranging between $1,500 and $30,000. Their APRs start at 16.05% with a maximum of 35.99%, and a minimum rate of 9.99% for secured loans. Due to its relatively high minimum APR, this lender primarily caters to borrowers with average or poor credit scores. Unlike some of its online competitors, potential borrowers may be required to visit a OneMain branch to apply in person.
Is ZippyLoan Legit and Safe?
ZippyLoan encrypts all of the information that is sent through their website, according to the standard security protocol for online lenders. They also work with several legitimate companies and lenders.
However, there have been over 23 official complaints lodged against ZippyLoans with the Better Business Bureau. The complaints range from borrowers alleging that the platform sold their personal information to claims that ZippyLoans has charged unusually high processing fees.
They also do not list a customer service telephone number or sponsoring bank or organization.
ZippyLoans provides one of the fastest lending experiences in the industry. With an online application that takes just a few minutes and loans that can fund as soon as the next business day, this service is one that might be a good idea to consider if you’re looking for fast cash.
Additionally, they work with a large variety of lenders so borrowers with average to poor credit have higher chances of finding a product that they’re approved for. Their APRs typically fall within a reasonable range so applicants can be fairly certain that they won’t be charged extremely high interest rates.
However, this service does lack a few things like a customer service number and a list of its affiliate lenders. It might be a good idea to apply with some of its competitors which openly list this information, in order to ensure a transparent borrowing experience.