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Looking for a cash advance online? Here are some alternatives, with 0% interest.
You know the feeling. You’re all set to make it to payday. Then you’re hit with an unexpected expense. A medical bill. A broken-down car. It ain’t fun.
So you’re frantically googling “I need $100 now.” This is where loan companies, payday lenders and cash advance apps come in.
Despite how stressed you might be, it’s always important to do some thorough research into a company before taking their money.
Spotloan is an online loan company owned by BlueChip Financial. It offers short-term personal loans with fixed payments.
The company is headquartered in Belcourt, North Dakota.
According to the Better Business Bureau, Spotloan has been in business for 10 years.
Spotloan’s website states that it offers short-term installment loans, which means you pay back your loan over time. With a Spotloan, you choose how long you want to pay the loan back.
The company offers up to ten months repayment.
You can apply online in ten minutes or less. If you are approved, you can get up to $800.
An important detail:
Spotloan is a tribally-owned entity based in North Dakota. This means it doesn’t have to follow federal or state laws like North Dakota’s interest rate limit.
So while Spotloan are practicing legally, their interest rates are exceptionally high.
Yes. On its website, Spotloan states:
“Spotloan reports back to credit reporting agencies on your loan payment performance. So, if you don’t pay your loan back according to your loan terms, it could negatively affect your credit score.”
On the Better Business Bureau's website, Spotloan has a rating of 1.45/5 stars.
The company also has over 22,000 reviews on Trustpilot. Their average rating is 4.4.
However, one thing to note is that Trustpilot allows companies manually to invite customers to write reviews. This means that companies can select customers who have had a positive experience, offsetting organic negative reviews.
Of their negative reviews, many complain that Spotloan’s fees are too high.
The Cleo app can spot you up to $100 (eligibility requirements apply) with no interest, no credit checks or employment verification needed.
This means if you borrow $100, you pay back $100.
Or if you’re looking to shop around for a cash advance with low-interest rates, there are plenty of options out there. We’ve made a list of our top 5 here.
To learn more, visit https://web.meetcleo.com/borrow or download our app from the app store for free.
Naturally, your next question is probably gonna be: is the Cleo app legit? In fact, we have a whole blog article on the subject (but the short answer is, yes.)
Big love. Cleo 💙
This time we're talking to Chloe, who is all of the above. Chloe is a fellow coffee fiend and does virtual improv comedy classes to get through isolation. Hobbies? 10/10, but let's see how her spending ranks.
Right now, we know a lot of people are looking at a future that doesn’t seem too friendly. But you know what?
Before checking sites like Advance America, we’ve rounded up a few ways you could get help if you’re stuck for cash 💙
