EncoreLoan is one of the services that you can come across on the Internet when looking for a lender.
Online Personal Loans up to $5,000
Any Credit History | Quick & Easy Online Form | Fast Decision
A bright yet clean design of the website with a beautiful, smiling lady may attract your attention right away, but it is important to have a closer look at this service to make sure that it is something that you are looking for.
In this review, you will find some helpful information on Encore Loan to decide whether it is a reliable loan provider or just another scam to be aware of.
Initial Information about the Business
EncoreLoan.com has been around for three years to provide intermediate lending services.
It is not a direct lender, but a lender platform that allows you to access a network of many lending businesses offering personal loans by filling out and submitting your online loan application.
The website contains lots of helpful information, including the FAQ section that provides you with many answers.
However, there are no contact details that you can find to reach their representatives, which is quite unusual.
Although they state that bad credit is ok, this is one of the very first things that they ask you in their application form.
What Do They Offer?
The business offers to fill out an online form so that it could be considered by many lenders, which makes it easier to find a suitable offer.
It is possible to apply for a loan in the amount ranging from $100 to $15,000 for 6-72 months.
You will need to repay your loan on a monthly or biweekly basis.
This means that they offer installment loans.
APR is determined individually and depends on a range of factors, such as your repayment history, credit score, and other factors.
Since there is no prepayment penalty, it is possible to pay off your debt earlier without spending additional money.
Customer Reviews and Ratings
Encore Loan has not been accredited by the BBB and its rating on the organization’s site is B+.
In three years, there have been three complaints posted by customers on the business that are related to being scammed.
The company denied all accusations, stating that they did not contact the customers and did not ask them to buy anything.
There are also two customer reviews that you can find on the BBB’s site, giving to the businesses the rating of 1 out of 5.
There are no other customer reviews that you can find on the Internet regarding this business.
According to Scamadviser, the website’s safety rate is 88%, and it seems that the website’s owner user technologies to hide its identity.
We cannot totally be sure that it is a legit business, but it has been around for a few years and a few complaints have been reported so far.
However, there are no other customer reviews that you can find on the Internet, so this either means that they run a good, reliable business or that they are not very popular.
Anyway, we can only assume that because no proofs have been found.
Therefore, we cannot state that it is a reliable lending platform recommended to use.
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