Jora Credit provides accessible loans, specially for those with poor credit, featuring a streamlined application process and same-day funding, what is excelent for urgencies.
While their customer service is responsive and their terms transparent, their high APRs (170-349%) make this an expensive option.
High APR rates ranging from 170% to 349%, far above market averages for personal loans. While transparent about fees, these interest rates are excessive and could lead borrowers into debt cycles despite the absence of additional fees.
Customer Support
Available 6 days a week via phone and email with extended hours (Monday-Friday 7AM-9PM, Saturday 8AM-4PM). Responsive and helpful service. Clear contact information provided, with comprehensive FAQs on their website.
Terms and Flexibility
Clearly stated terms, with transparent fee structure and no hidden charges. Loan options offer some flexibility with bi-weekly or monthly payment schedules, but high interest rates offset the clarity provided. Regulated in the states they operate in.
Customer Experience
Simple online application process with fast approval and same-day funding options. Limited availability (only 10 states) and high interest rates detract from otherwise positive user experience. First-time borrower limits may be restrictive.
Jora Credit is an online lender that offers personal installment loans. This allows a borrower to have set payments over a period of time, which is different from a payday loan, which usually requires a payment after you are paid.
Jora has different options for installment loans, with first-time Jora users being able to borrow $500 to $2,600, and existing customers up to $4,000.
Loans are paid back on a bi-monthly or monthly schedule.
Jora Credit provides loans for people with bad credit as they also look at a variety of other factors when assessing your application.
Availability
Jora Credit is available in 10 states: AL, CA, DE, ID, MO, NM, ND, SC, UT, WI.
Jora also offers a service called Allay, financial advice designed to improve your financial situation. Allay provides a supplemental income tool, salary calculator, career path tool, and job listings.
How Jora Credit Works
Jora Credit provides two types of loans: installment loans and lines of credit.
Installment loans are available from $500 to $4,000. However, first-time borrowers can qualify for loans up to $2,600 depending on their state.
Short-term loans are ideal for borrowers who need a once-off amount to pay back over time, whereas a line of credit is a revolving loan.
Loan Requirements
To apply for a loan from Jora Credit you need to:
Reside in a state they currently serve
Be at least 18 years old (19 if residing in AL)
Have a job or other proven source of income
Have a valid email address
Have an active and valid checking account
Jora is also willing to work with low-income individuals and those with low credit scores.
Rates & Fees
Jora’s terms vary on state and loan amount. The APR of loans offered is fixed and ranges from 186% to 349%.
Jora does not charge prepayment fees, origination fees, or late fees.
Payment Terms
Payment periods vary, with Jora providing options from 1 to 30 months. Payments can be made on a monthly or bi-weekly basis.
How to Apply
Jora Credit’s application process is fairly straightforward.
Jora keeps all personal information secure and confidential. Once approved, simply select the loan that meets your terms.
The money should be deposited into your checking account within the next business day.
Our Jora Credit Review
Pros
Easy online application that takes only minutes.
No application fees, origination fees, late fees, or prepayment fees.
Funds can be paid out as soon as the same day.
Installment loans and lines of credit available.
Borrowers without good credit can apply.
Cons
First-time borrowers are limited to $2,600.
Jora Credit is not available in all U.S. states.
Loans may come with higher costs compared to other lenders.
Jora Credit is a reliable lender that offers loans to people without a perfect credit score. Although they are only available in some states, their terms and fees are transparent and there is a lot of information available on their website.
The application process is easy and straightforward, and loans can be paid out on the same day. Borrowers can also choose between fixed-term loans and lines of credit, depending on their personal needs.
One downside is that Jora Credit loans may come with higher interest rates due to the fact that borrowers often come with a higher risk.
Read more reviews below or add your own Jora Credit review.
Customer Service
Customer support is available Mondays to Saturdays, via email or phone. The Jora Credit phone number is 1-888-223-8067. They also have an extensive list of FAQs and transparent information regarding fees and terms.
Jora Credit FAQs
How much can I borrow?
First-time borrowers are limited to $2,600 while existing customers can borrow up to $4,000.
How much does a loan cost?
This depends on the state you live in, your credit history, and the amount you borrow. As an example, a $2,000 loan in Missouri has an APR of 245%, and will have 48 bi-weekly payments of $190.50.
How soon do I get the money?
Most loans are paid out the same day, alternatively the next business day. LInes of credit can also be funded the same day, if the Cash Advance request is submitted before 10:30 am Central Time.
What happens if I pay late?
Late payments may leed to additional finance charges but Jora Credit does not charge late or NSF fees.
Is Jora Credit a direct lender?
Yes. Jora Credit operates under specific companies and licenses in all states it operates.
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