TrustedLoanNetwork.com Review: Assess Possible Risks Before Using This Site
- 1 What is TrustedLoanNetwork.com?
- 2 Technical Characteristics of the Website
- 3 Is TrustedLoanNetwork.com Legit?
- 4 TrustedLoanNetwork.com Reviews
- 5 Contact Us section
- 6 Conclusion
What is TrustedLoanNetwork.com?
TrustedLoanNetwork.com is an online service that helps people get quick personal loans by connecting to a direct lender. This portal is not a direct lender – it’s an intermediate party that works with a vast network of lenders. The aim of the service is to help people who need financial difficulties. Trusted Loan Network guarantees the secure online application process which saves time and energy. The website has the OLA seal, which means this service works according to the highest standards of conduct and federal law. OLA sealed lenders are able to provide high-quality financial products.
|Loan types||Min.amount||Max.amount||Period||APR||Documents||Bad credit|
|Installment loans||$200||$10,000||2-60 months||25%-1200%||Social Security number and state-issued ID||Yes|
|Payday loans||$100||$1,000||up to 30 days||Varies by lender||Social Security number and state-issued ID||Yes|
Types of Loans
TrustedLoanNetwork.com helps you get payday loans and installment loans.
Payday loans allow borrowers to get a quite small amount of money for a short period and repay the debt on the day they receive their next paycheck. Payday loans can be also called a cash advance or short-term loans. The funds are quickly deposited to the specified bank account and help you cope with emergency financial situations like unexpected bills, home repair or other cash needs.
Installment loans are larger amounts that can be repaid in several equal payments within equal periods of time.
The online portal works with numerous lenders. The basic 3 lenders are presented on the main page:
TrustedPayday is able to lend up to $1,000 to all people regardless of their credit score. The company promises a fast and application and transfers the money the next business day.
TrustedInstallmentLoans is another online lender that offers installment loans with longer repayment periods and a beneficial APR. Using this company, customers can get up to $10,000.
TrustedPersonalLoans helps people to get up to $10,000 online. The service does its best to meet the needs of customers providing legitimate financial products.
As soon as you are approved for a loan, the funds will be deposited into your bank account as soon as the next business day.
TrustedLoanNetwork.com connects people to the direct lenders from its network.
Customers are allowed to submit loan applications 24/7 since the service is online. However, the service mentions that some lenders review loan applications during normal business hours only. So the best time for application is Monday through Friday 8 am to 5 pm.
To be approved for a loan through Trusted Loan Network, you will need to meet the following requirements:
- Be at least 18 years old;
- Have a regular source of income;
- Have an open checking account.
With Trusted Loan Network, you are able to be approved for a loan amount ranging from $100 to $10,000. The online portal mentions that each lender has its own loan amounts and policies. Besides, not all lenders may offer loans up to $10,000 and not all lenders can approve the required loan amount. The approved amounts depend on the client’s creditworthiness. Often, borrowers DO NOT get loans exceeding $1,000.00.
Since Trusted Loan Network is not a direct lender, it cannot specify the exact interest rates. Instead, the service mentions that the APR for payday loans may range from 25% to 1200%. It will also be based on the client’s credit score and other factors.
This online service doesn’t charge any fees for its help. However, it warns that short-term loans usually come with high interest rates. If you aren’t sure that you will be able to repay a loan, you’d better refrain from using this service since non-payment leads to extra charges and negatively affects your credit history.
Lenders from the network of Trusted Loan Network do not pay a great attention to your salary (but the chances of getting approved are higher if you have a job with a steady income exceeding the requested loan amount). The thing is that you may be approved even if you do not have a job but do have another source of income, such as pension, disability benefit, and so on.
Application Process on TrustedLoanNetwork.com
TrustedLoanNetwork offers to fill out an easy online application to get a personal loan. If you qualify for a loan, the service will try to connect you with a suitable lending company from its vast network.
To apply for a loan, you need to go to TrustedLoanNetwork.com and start by clicking the “Submit Now” button. For this, you need to type in the loan amount, first name, last name, last 4 of SSN number, zip code, birth year:
Later on, you will be required to provide some more personal details:
- Your address, email address, phone number, and a full Social Security number;
- Your employer’s name, employer’s phone number, the amount of your last salary, payday frequency;
- Your bank’s name, bank account number, and ABA/routing number.
You need to provide a clear and accurate information. False or inaccurate details can reduce your chances of receiving a loan.
As soon as your application is matched with a suitable lender, the lender will contact you by email or phone and provide you with additional details such loans terms, interest rate, any other fees and possible penalties. You should always review the loan contract carefully before signing it (electronically).
If you accept an offer of the lender, the requested funds will be deposited into your bank account as soon as the next business day. But if you do not like the terms offered, you can request for a new loan through TrustedLoanNetwork.com.
The online service mentions that lenders usually process loan applications immediately. But if you fill out an application on a weekend or holiday, the cash will likely be deposited to your account by the lender’s next working day.
Customers should check the repayment terms and options before signing the contract with the lender. Payday loans are usually to be repaid in one lump sum on the day you get paid. Repayments of installment loans can be made either once or twice a month. When the loan payment is due, the lender will automatically deduct the funds from your account. Some lenders may allow to pay off the loan before the due date and reduce the interest rate and other fees.
By making payments on time, you will improve your credit history and avoid negative consequences.
If you are not able to make a payment on a due date, you need to contact your lender immediately to discuss the possible options. If you do not do this, the lender may report nonpayment to the major US credit bureaus which will negatively affect your credit rating.
TrustedLoanNetwork.com does not collect debts. All non-payment issues will be controlled by your Lender. If you miss a payment, the lender has a right to take legal action against you. If you fail on payment, you will have to pay additional fees and penalties.
The online service guarantees that all collections practices are conducted in accordance with the current state regulations.
Trusted Loan Network works with numerous lenders that have their own extension policies. This online service is not able to offer an extension for you, so you need to discuss the terms of extension offered by your lender in advance.
If you opt for an extension, you may have to pay an additional finance charge, and the repayment date may be renewed until your next pay date.
Many lenders do not provide customers additional loans if they already have many current loans to be repaid. Once you have closed your debts, the online service welcomes you with another request.
TrustedLoanNetwork.com Bad Credit
As we have already mentioned, Trusted Loan Network is not a direct lender and does not check customers’ credit history. However, the lenders from its network may conduct a credit check using credit bureaus and national databases that track the person’s every transaction with lending companies. In general, a bad credit history is not a problem for the lender from the network of Trusted Loan Network since they try to help all people regardless of their credit score.
Technical Characteristics of the Website
TrustedLoanNetwork.com claims that all clients’ personal data is safe and secure. The website uses a 128-bit SSL encryption verified by DigiCert – one of the most popular providers of SSL certificates. In general, such an encryption level is satisfactory, but I’d actually love to use websites with better encryption, such as 256-bit.
Checking Mobile Version
TrustedLoanNetwork.com has a mobile version which seems convenient: the text is readable, the menu elements are not so close to each other. Google test confirmed that the website is mobile-friendly:
I noticed no bags in the functioning of TrustedLoanNetwork.com. Probably, users will be able to apply for a loan using smartphones as easy as they can do it using computers.
Regretfully, TrustedLoanNetwork.com does not provide the highest level of security. I noticed that this website does not have an anti-virus software which would prevent, detect and remove viruses, worms, trojans, adware, and malicious programs. These tools are relevant for online lending services, so the website’s owner has to install an anti-virus software, otherwise, users may be easily infected within minutes of connecting to the website.
Convenience of Using TrustedLoanNetwork.com
The application process at TrustedLoanNetwork.com is quick because here you do not need to register. You can start application typing in your name, birth year, last 4 of SSS number, and zip code.
After clicking on the “Submit Now” button, you will have to provide some more details, such as address, phone number, duration of employment, income type, the frequency of payday, type of account, and so on. The whole application process includes 3 blocks: contact information employment information, and financial information:
Although Trusted Loan Network cannot predict the loan terms and rates, the website seems informative. Here you can read the description of payday loans and installment loans. The company also provides approximate terms and rates that will be later offered by the lender.
I like that the website has a very detailed FAQ section where you can find answers and guidelines to all questions regarding the services of Trusted Loan Network. Considering all these facts, I think you will not have any problems when applying for a loan with this intermediate company.
Is TrustedLoanNetwork.com Legit?
Before applying for a loan online, it’s important to make sure you deal with a trusted website. According to ScamAdviser analysis, TrustedLoanNetwork.com has a trust rating of 72% out of 100% and there may be a small chance of risk:
Although this website appears to be based in the United States, it could also be related to Saint Kitts and Nevis, and you should review this information carefully before using this service. Scam Adviser detected that the domain age is over 4 years but the website has a few visitors. Scam Adviser doubts the company’s legitimacy due to the fact that Trusted Loan Network is possibly related to a high-risk country.
Regretfully, the website does not have any internal customer reviews describing their experience with Trusted Loan Network. This was disappointing since reading customer reviews is the best way of checking the reputation of the service. I was not able to do it today so I had to look for external reviews on the net.
Reviews on Third-Party Websites
Trusted Loan Network reviews on third-party websites are unavailable. This disappointed me because it’s difficult to assess the reliability of the online service without customer reviews. If you come across any testimonials about this service, please let me know in the comments below.
Contact Us section
The company provided its address but did not mention its phone and email. Obviously, Trusted Loan Network is owned by Fast Flash Marketing, LLC:
Fast Flash Marketing, LLC
5030 Champion Blvd. Ste. G11-118
Boca Raton, FL 33496
It’s good to see an address of the company but this contact information is too limited to trust this website.
Getting a Consultation
Trusted Loan Network claims to have an excellent and professional customer service support available 24 hours a day 7 days a week. They promise to answer any questions in a timely manner.
However, the ways of contacting the company proved too limited: you can contact the manager of the company only by submitting a request on the “Contact Us” page. For this, you will need to choose a reason for contacting Trusted Loan Network:
Before sending a question, the company asks customers to review its detailed FAQ page which will probably give an answer to your question. The online service also mentions that for any questions about loan terms and rates, borrowers should contact the direct lender since Trusted Loan Network cannot provide such information.
I decided to reach the manager of the company by submitting a request with the question about Trusted Loan Network locations. But the answer never came. Obviously, the company’s customer support service needs further development.
TrustedLoanNetwork.com is a loan-matching service which can offer you the following benefits:
- Here you can borrow large amounts up to $10,000;
- Flexible repayment options – customers can opt for repayments made once or twice per month. Also, they can repay the loan earlier with no penalties;
- A vast network of lenders that offer different loan types and conditions;
- Quick application process which takes only a few minutes, and you may learn the decision almost immediately. If approved, the funds will be transferred into your bank account the next business day;
- Bad credit does not matter – the lenders from the network of TrustedLoanNetwork rarely perform credit checks;
- Money for any needs – the service does not ask you to specify the purpose of taking a loan;
- This website is OLA-accredited, which means it complies with the existing state laws and keeps the application process transparent.
However, you should remember that TrustedPayDay.com is an intermediate party which cannot provide a loan directly and cannot specify loan terms. That’s why, when approved, you may need to fill out one more application on the website of the lender. I was also skeptical about the location of this company and the fact that TrustedPayDay does not have any reviews on the net. For these reasons, I recommend you to use the services of this website carefully or search for other more reliable options. TrustedPayDay trust-rating is 2,6 stars out of 5.
Posted by Brad Mueller