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ZippyLoan Review

Len Penzo
Len Penzo

Top Facts About ZippyLoan

LOAN TERM
Varies by lender
EST. APR
Varies by lender
LOAN AMOUNT
$100 - $15,000
MIN. CREDIT SCORE
None

Table of contents

    Well known for connecting borrowers with quick financing, ZippyLoan hosts a lending market designed to help users access short-term personal loans. ZippyLoan is part of the Online Lenders Alliance (OLA) which adds to its trustworthiness. With ZippyLoan there are no hidden setup fees and the service is free to use.

    ZippyLoan is powered by industry-standard 256-bit SSL encryption technology that prevents data theft so borrowers can rest assured that their information is safe and secure. ZippyLoan is not a lender, but instead a place where borrowers and lenders can connect.

    The best part of this loan connection service is its accessibility. Regardless of whether you have a good or a bad credit score you can qualify for a loan. What’s more, you can submit an application and have it processed in minutes via your iPhone, Android, PC or iPad. ZippyLoan is mobile friendly so you can even request your loan on the go.

    Why Get a Personal Loan from Zippyloan?

    While it’s possible you may find loans with lower interest rates on some websites, there is an advantage in being able to borrow just a few hundred dollars in minutes no matter your credit score. Contrary to other competing services which have a minimum starting amount of $1000.

    While not a lender themselves, ZippyLoan provides a place for borrowers to connect with the right lenders to suit their needs. This offers the benefit to users of having their loan request shown to multiple lenders before receiving an offer. Requesting a loan is free and does not affect your credit score. With ZippyLoan you can access financing for up to $15,000 in as little as one day.

    Personal loans from lender marketplaces like Zippyloan are an ideal option when you have an urgent need for financing or face unexpected expenses. One advantageous aspect is that lenders compete for your business after a short initial application, opening many potential loan offers. Additionally, according to our review, this marketplace works entirely via automated systems, helping speed the application and approval process.

    What Does ZippyLoans Offer?

    The highlight of our ZippyLoan reviews is that anyone can apply for a loan through the service. Even if you have a poor credit score, Zippyloan can find you a personal loan for bad credit. Furthermore, when you repay your outstanding loans issued by lenders operating in this network, some lenders more frequently report repayment behavior to credit bureaus, rewarding on-time repayments which can help improve credit scores.

    Another fact we uncovered when through our ZippyLoan reviews is that financing can be approved and disbursed within as little as one day. Better yet, flexible loan options include repayment periods as short as 1 month and as long as 5 years, adding to this marketplace’s appeal. Some of the reasons you may select for requesting a loan through ZippyLoan include:

    • Debt Consolidation
    • Home improvments 
    • Major & Unexpected Expenses
    • Personal Needs
    • Emergency Medical Bills
    • Periodic Payments
    • Budget Problems

    Another great aspect of ZippyLoan we discovered is lenders in their network offer unsecured loans. Simply put, you don’t have to offer a collateral in order to qualify for the loan through this network of lenders. Please note however that you will have to disclose the use of the loan at the time of signing up on ZippyLoan like many other online lender marketplaces. 

    Eligibility Criteria

    The basic qualification criteria for the Zippyloan application are very straightforward. Beneficially, you can apply for a loan offer without needing a minimum income or good credit score. All you need to apply are the following:

    • Be 18 Years of Age
    • Have a Verifiable Regular Income
    • Prove Residential Status Within the United States
    • Hold A Bank Account Under Your Name

    Please note that everyone is eligible to receive up to $15,000 and interest rates may vary depending on how your application is evaluated by lenders. Some factors lenders may consider when offering a loan amount and rate include your earnings, credit history, and the laws at your state of residence.

    Pros and Cons

    Pros

    • You can get loans for amounts starting as low as $100 or as high as $15,000
    • There are zero setup fees or hidden costs to use ZippyLoan services
    • ZippyLoan accepts users with both good and bad credit
    • Request a personal loan in 5 minutes for financing in as little as 24 hours

    Cons

    • No guarantee of connecting with lenders or receiving a low APR offer
    • Zippyloan does not provide services in New York, Oregon, West Virginia or Washington D.C.
    • If you have questions or problems, there is no ZippyLoan customer service available

    How to Apply for a ZippyLoan?

    ZippyLoan is aptly named for its efforts to quickly help borrowers accessing unsecured personal loans. Accordingly, you can get everything done online within a few minutes.

    It starts with a form you need to fill out with your name, date of birth, bank details, social security number, contact information, driver’s license, employment details, credit score, loan amount and purpose for loan.

    Once your information is submitted, you will be connected with a lender in under 5 minutes.  Next, you can review the policies and repayment terms presented to you by the lender. Once satisfied, e-sign the agreement to confirm the policies and complete the loan application. If you are not satisfied with the loan offer, you are under no obligation to accept the terms.

    If you choose to move forward with the loan offer, once verified and approved by the lender the requested loan amount will be transferred into your account is as little as 1 business day. It’s as simple as that.

    Rates, Terms and Fees

    ZippyLoan is not a lender itself, but instead a marketplace that connects you with lenders. Therefore, you will not see a general range of interest rates posted on the site, rates offered will be independent of ZippyLoan. Although lenders may offer interest rates ranging from 5.99% to 35.99% annual percentage rate , exact rates will vary by lender. You will have an opportunity to review the rates when presented with an offer.

    In terms of repayment terms, lenders operating in the network offer repayment schedules for monthly or bi-monthly payments for up to 60 months. Finally, prepayment fees, origination fees, late fees, and insufficient funds or penalties will depend on the conditions set by the lender.

    Bottom Line

    ZippyLoan is designed to quickly connect borrowers with a network of lenders competing for their business. Thanks to no hidden fees or costs for using the service, borrowers can rest assured knowing that they are under no obligation to accept lender offers.

    With financing available for those with weak and bad credit, the fast application, range of flexible terms, and rapid loan turnaround, ZippyLoan helps prospective borrowers quickly access the financing they need.