If you have less than perfect credit and need fast funding, a loan matching service like Honest Loans can help you find offers from multiple lenders at once.
Honest Loans connects borrowers with a network of lenders through a single application that takes under 5 minutes. You can receive a decision within 24 hours and choose repayment periods of up to 72 months with APRs ranging from 5.99% to 35.99%.
Loan offers range from $200 to $50,000, though maximum amounts depend on your creditworthiness and the individual lender's policies.
How We Rate Honest Loans
At Financer, all lenders go through a thorough research and review process. Here's how we rate Honest Loans:
| Category | Rating |
|---|---|
| Affordability | ⭐⭐⭐ |
| Application process | ⭐⭐⭐⭐ |
| Loan terms | ⭐⭐⭐⭐ |
| Transparency | ⭐⭐⭐⭐ |
| Customer support | ⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐ |
Honest Loans Overview
Honest Loans (honestloans.net) is a loan matching service (not a direct lender) that connects borrowers with a network of lenders. The platform makes it easy to submit a single application and receive multiple loan offers in minutes.
Honest Loans does not charge any fees for its service. However, lenders in their network may charge origination fees, late payment fees, and other costs. All fees and rates are disclosed by the individual lender before you sign any agreement.
The website uses 256-bit SSL encryption to protect your data. You can apply in minutes and get a decision within 24 hours. If approved, funding can arrive as soon as the next business day, with repayment periods ranging from 6 to 72 months.
The most common complaints about Honest Loans involve being contacted by multiple lenders after applying and limited transparency about specific loan terms before submitting personal information.
Who Is Honest Loans For?
If you have fair or even bad credit and you are looking for a quick online loan, then Honest Loans is a good consideration.
By providing access to multiple lenders, the platform gives you a pool of options to choose from. This increases your likelihood of getting the funding you need since different lenders have varying eligibility requirements.
Although the site states that loan offers range from $200 to $50,000, the platform is most suitable for small emergency loans and cash advances.
Eligibility Requirements
Here are the qualifying requirements for applying for a loan through Honest Loans:
Be at least 18 years old.
Be a U.S. citizen.
Have an active bank account that accepts direct deposits.
Earn at least $800 per month.
Have a valid contact number and an active email address.
Who It’s For
Honest Loans is for you if:
You have a less-than-perfect credit history.
Need quick funding.
Want to review multiple loan offers.
Don’t have collateral.
Looking for an online loan.
Who It’s Not For
Honest Loans may not be a good option for you if:
You are looking for a secured loan, mortgage, or auto loan.
You want the lowest APR rates available.
You need a loan of more than $50,000.
You prefer to deal with a lender in person.
You don't want your personal information shared with multiple lenders.
You live in a state where the service is not available.
What To Consider Before Applying
Ensure you understand the costs involved. Research the offers available to you and look for the fees involved (origination fees, prepayment penalties, and late payment fees).
Ensure you understand the terms of the offer before accepting a loan from a lender. The lenders offering loans through the platform have different terms. Remember that Honest Loans is just a marketplace and lenders define the terms of a loan.
While Honest Loans does not perform a credit check, the lenders that they work with may do so in order to determine your creditworthiness and the amount that they may be able to lend to you.
Honest Loans Fees
APRs range from 5.99% – 35.99%. Honest Loans does not charge consumers any fees for submitting a loan request. However, if approved for a loan, lenders will present you with their specific fees and interest rates, which may include origination fees, late payment fees, and other charges that vary by lender.
Contact the lender directly if you are not sure of the loan terms or the fees associated with a loan.
Honest Loans Payment Terms
Repayment terms for loans offered on the platform vary by lender. Typically, payment terms range from a 6-month minimum to a 72-month maximum.
Some lenders may allow you set automatic debits to prevent late or missed payments. Ensure you read the terms of the loan before accepting the offer.
How Financer Rates Honest Loans
At Financer, all lenders go through a thorough research and review process. We don't make recommendations lightly.
All loan applications are done through their easy-to-navigate website with a simple process that takes less than five minutes to complete.
With a wide pool of lending options, you can find loans that fit your current financial context.
Application Process
Honest Loans has a straightforward application process. The user-friendly interface means you can apply for a loan in minutes and get a decision within 24 hours. If approved, you can get funded as soon as the next business day.
Costs
As a loan matching service, Honest Loans does not charge any fees. Keep in mind that lenders offering loans through the platform may charge origination fees, late payment fees, and other costs. APRs start at 5.99% and go up to 35.99%, with most borrowers with fair or poor credit receiving rates closer to the higher end.
Payments
Repayment terms range from 6 months to 72 months. Some lenders allow automatic debits to prevent missed payments. Always review the full terms before accepting any offer.
Customer Service
Honest Loans can be reached at 1-888-718-9134. Keep in mind that once you're connected with a lender, customer service for your loan is handled by that lender directly, not by Honest Loans.
Data Privacy
Honest Loans uses 256-bit SSL encryption to protect information entered on the site. However, like other loan matching services, your personal data is shared with partner lenders in their network who may contact you.
Honest Loans FAQs
What is Honest Loans?
Honest Loans is a loan matching service that connects borrowers with a network of lenders. It is not a direct lender. You submit one application, and Honest Loans shares it with multiple lenders who may offer you a loan. The platform specializes in personal loans, installment loans, and cash advances ranging from $200 to $50,000.
Is my personal information secure with Honest Loans?
Honest Loans uses 256-bit bank-level SSL encryption to protect information entered on the site. However, your personal data is shared with lenders and partners in their network as part of the loan matching process. This means multiple lenders may receive your information and contact you.
How long does it take to get a loan through Honest Loans?
The application takes less than 5 minutes to complete. You can receive a lending decision within 24 hours. If approved, funds can be deposited into your bank account as soon as the next business day.
Is Honest Loans legit?
Honest Loans is a legitimate loan matching platform that has been operating for several years. The website uses SSL encryption and connects borrowers with real lenders. However, it is important to understand that Honest Loans is not a lender itself. It acts as a middleman that passes your information to lenders in its network. Always review the terms from any lender before accepting an offer.
Does Honest Loans check your credit?
Honest Loans itself does not perform a credit check. However, the lenders in their network may run a credit check as part of their approval process. This could be a soft pull (which doesn't affect your score) or a hard pull (which may temporarily lower your score), depending on the individual lender.
How do I know if a loan company is a scam?
Legitimate lenders will never ask for upfront fees before approving your loan, will always disclose APR and terms before you sign, and will be registered to operate in your state. Warning signs of a scam include guaranteed approval regardless of credit, pressure to act immediately, requests for payment via gift cards or wire transfers, and no physical address or verifiable contact information.
Honest Loans Alternatives
Here's a list of alternatives to Honest Loans and how they compare:
| Lender | Loan Amount | APR | Max. Loan Term | Bad Credit? |
|---|---|---|---|---|
| PersonalLoans.com | $500 - $35,000 | 5.99-35.99% | Up to 6 years | Yes |
| BadCreditLoans.com | $500 - $5,000 | 5.99-35.99% | Up to 2 years | Yes |
| CashUSA | $500 - $10,000 | 5.99-35.99% | Up to 6 years | Yes |
| Fast5KLoans | $500 - $35,000 | 5.99-35.99% | Up to 5 years | Yes |
Should You Use Honest Loans?
Honest Loans is a legitimate loan matching platform where borrowers can get personalized loan offers from multiple lenders. The platform is best suited for borrowers with fair or poor credit who need quick access to funds and want to compare options without multiple separate applications.
If you have good credit, you'll likely find better rates through a traditional bank or credit union. But if your credit history has some bumps, Honest Loans gives you a way to see what's available without any upfront cost.
Read more Honest Loans reviews from customers below or add your own.
More User Reviews - Add Your Rating
Read more reviews on Financer from verified users below.
Have you used Honest Loans before? Leave your review now.
