Zippyloan

by Aethyna May 3, 2018 | 0 Votes | 0 Used | 0 Reviews

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Payday Loans Zippyloan provides an online platform to bring payday loan lenders and borrowers together, allowing you to find lenders who aren’t only be able to provide you with the funds you need but also with loan agreements that you can get behind to. Apply Now Similar Sites

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Summary What You Get and How Terms Trustworthiness Conclusion

Summary

Zippyloan provides an online platform to bring payday loan lenders and borrowers together, allowing you to find lenders who aren’t only be able to provide you with the funds you need but also with loan agreements that you can get behind to.

What You Get and How

If you have an unexpected expense and find yourself needing to get a personal loan quickly and hassle-free, Zippyloan provides the services you need to get connected to a lender who is willing to lend you the funds. Best yet, you can apply online in just a few easy steps!

All you need to is to fill up an online, 5-minute-long application form on your browser or even on your Android or iOS devices, wait for a lender to approve your loan, electronically sign the loan agreement, and the loan money will be credited to your bank account on the next business day. Repaying your loan is just as easy. You can even choose how you’d like to pay back the loan including multiple installments of up to 60 months for larger loans, or a much smaller loan which you can pay back on your next pay date.

Even if Zippyloan is unable to connect you with a suitable lender, they assure you that they will do their best to secure a short-term loan so your urgent cash needs are addressed.

Please also take note that Zippyloan is unable to provide its services to people living in New York, West Virginia or the District of Columbia.

Terms

When it comes to repayment, Zippyloan puts its terms, including loan amount, lending period, payment frequency, etc, as well as the Annual Percentage Rate (APR) in a clear and easy to read manner. This transparency is refreshing to say the least. However, if you do compare the APR with the usual APRs for personal loans, you may realize that unless your credit rating is below Poor, you might be better off getting a personal loan from a bank than a payday loan.

Trustworthiness

Zippyloan looks great and all but once you get into the details, you may notice things that may raise a couple of concerns. One such thing is the lack of any contact information on the site. There’s no “Contact Us” page, a support forum, or even an email address (let alone an actual phone number) that you can send your complaints to.

Although they are a member of an Online Lenders Alliance (OLA), they aren’t seemed to be backed by any corporations or have an accreditation from the Better Business Bureau. Although many have complained that the BBB has lowered their standards over the years, it can be quite alarming to see an online payday loan site that not only doesn’t have a BBB accreditation but has a customer rating of “F”.

Their customers have plenty to complain about the loan service facilitator as well, with the most complaints mentioning about the tons of spam (between 15 to 30 emails per day) they are receiving in their inboxes. We’ve done some digging into their Privacy Policy and there indeed is a clause which allows Zippyloan to sell/give away your personal details, which you can’t really falsify since you’re applying for an actual loan on their site, to third-party marketing partners.

Not to mention, though there are some which don’t provide an unsubscribe link, for those that do, well, the unsubscribe option doesn’t seem to work as well. Customers who supposedly had opted-out were still getting spammed. So, all in all, you’ll need to be aware of what you’re signing away when you use the services provided on Zippyloan.

However, we’d like to commend on Zippyloan’s transparency when it comes to its APR and how much you’re expected to return if you do get a loan from their lenders. You are given the info and it’s now up to you to compare it with the industry standards and decide whether the loan is worth taking or not.

Conclusion

In short, Zippyloan is exactly “as advertised”. It is a platform where you, a borrower, can be connected to a lender who is willing to provide you with a payday loan. Although the site is not a full-fledged scam, its business practices may not be entirely in the clear either. Their insistence on being anonymous and unreachable, along with their loose privacy policy, are major concerns to any potential users of their services, but at least now, you will be going in with your eyes wide open.