Viva Payday Loans Reviews {2022} How Does This Loan Marketplace Work? Find Out!
Have you heard of Viva Payday Loans? An online loan marketplace that offers to connect people of all credit profiles with lenders? Are you wondering if it’s legit or another scam? Go through this article to find out how it works.
What Is Viva Loan All About?
Vivaloan is a personal loan marketplace that partners with a variety of lenders to provide loan options in amounts ranging from $100 to $15,000. Notably, Vivaloan is not a lender and does not make loans itself.
For you to be qualify for Vivaloan, you have to meet the criteria as part of the approval process. This means that if you’ve had trouble qualifying for a loan in the past because of poor credit or other reasons, it’s possible you’ll get a different answer from a lender through Vivaloan. Just be aware that while you may get connected with a lender despite having rough credit, you’ll want to review the loan terms carefully. The Vivaloan site gives no info upfront about the range of APRs offered by its lending partners — but there are signs that some interest rates could be very high.
How Does Viva Payday Loan Works?
Viva Payday Loan uses a loan matching service to match borrowers with lenders. You can apply for a loan between $100 to $5,000, with loan terms varying between 16 days to 1 year. The application process is entirely online, and you can expect to receive a response within a few minutes. Once the loan contract is signed, you can receive the funds within 15 minutes or the same day. Bad credit and Centrelink recipients can apply for a Viva Payday Loan. However, this loan is expensive. Standard payday loan charges may apply. For loans less than $2,000, there is a 20% establishment fee and a 4% monthly fee. For loans above $2,001, the establishment fee is $400, and an interest rate of 48% p.a. may be charged. Payday loans are not a long-term financial solution and should only be used in case of emergencies.
Is VivaPayday Loan Legit?
First of all, Vivaloan procedures are too not tedious like other loan services. It gives loans up to $5,000. Interestingly, no fees to use the search tool and deals with huge number of lenders. With Viva loan, you can get a decision in just 2 minutes.
However, there are some inconsistences associated with viva payday loan. Ranging from not being available in all states, not from a direct lender to the fact that the cost of your loan can become expensive depending on the state you are in when applying.
Conclusion:
Viva Payday Loan is a seems to be a legitimate loan marketplace that partners with a variety of lenders to provide loan options. However, there are no reviews online by users. Therefore, potential customers should trend with caution.
Also, you can report scams, untrustworthy websites and tell us why you consider the websites fraudulent. See similar phishing scam; SharpUSPS scam text, Wal Tracking Scam, Delware BPO Scam, Publix 90TH Anniversary, etc.
