Frequently Asked Questions

It all starts with filling out our loan request form. That’s how we get the information we need to make a loan inquiry on your behalf. We have financing options standing by, and we’ll do everything it takes to connect you with one.

Filling out our loan request form only takes a few minutes. That’s because we ask for only the most essential information. You can save time by having your driver’s license number, Social Security number, and banking information ready.

Repaying your buddy loan may be done in installments or through a lump sum payment. Your specific loan terms will be outlined in your loan agreement. We suggest you familiarize yourself with the agreement before signing anything. You are under no obligation to repay the loan until after you sign the agreement.

Paying your loan off early is a smart way to save on interest. Many of the lenders we work with do not charge a prepayment penalty. However, it’s always best to consult your loan agreement.

Interest varies based on several factors, such as your credit score, the loan length, and your location. If you receive a loan upon approval, you will see the interest rate associated with it in the loan agreement.

You can request up to $5,000 using our form. If you are approved, your loan agreement will outline your loan term and how long you have to pay it off. These factors vary from loan to loan, so it is smart to read through your loan agreement if you receive one.

If you are at risk of default, then you should contact your lender immediately. They might be willing to extend your due date. However, this is not guaranteed. In any case, it usually helps to discuss your situation with the lender sooner rather than later.

You will see your on-screen results within minutes of filling out our form. If you are eventually approved for a loan, you should receive your funding within one business day.

We ask that you meet certain requirements to be able to use our loan request. You should be at least 18 years of age, be a U.S. citizen with a current address, have a working phone number and email address, have a bank account in good standing, and make at least $800 per month. Please note that if you are connected with a lender, they will likely have additional requirements.

You have come to the right place if you are trying to get a loan with bad credit and no cosigner. Our lending network considers all credit types, regardless of a few bumps and bruises to your credit score. While we cannot guarantee funding, our process may take more than just credit score into account. For instance, our lenders may also include income.

Just because you didn’t find a loan this time doesn’t mean you won’t next time. The first thing you should do before requesting another loan is to go check your credit report. Each major credit bureau will let you access your credit report for free once per year. You can check for inaccuracies; if you find some, you can ask the bureau to fix them. This can improve your credit score, perhaps making it easier to find a loan in the future.

We go the extra mile to connect you with a loan option. That means having the most reputable network of financial institutions. It is our mission to help more people get the financing they need. We are always adding more solutions to help our buddies find credit solutions.

It is not wise to borrow money to pay off previous debt. Instead, short-term loans can be used to address emergency expenses. If you need to pay off previous debt, it may make more sense to use a different financial product with terms more conducive to making it easier to pay off the money you owe. We recommend contacting a financial advisor if you find yourself in this position.

It’s always less stressful when the loan is a sure thing. Unfortunately, we do not pre-qualify applicants through BuddyLoans. Instead, we maintain a respected network of financial institutions that may be able to lend to you. The best way to find out if there is an offer for you is to fill out our form.

Unfortunately, negative information on your credit report will lower your chances of getting a loan. Bankruptcy makes it very difficult to secure financing. You can still use our form to see if we can connect you to a loan provider. However, you should know that it may not be possible.

Financial institutions will often consider your debt-to-income ratio when making a loan decision. More debt may mean you are less likely to receive a loan offer. It is because your ability to repay the loan is closely tied to your available funds. If you are already paying back other debt, you will have fewer resources to pay off a new loan.

While our website is relatively new, the experts running it and the technology behind it are anything but. The team at BuddyLoans has been helping people search for financing since 2015, and our platform has helped millions of people find a loan offer.