1. What is topcreditlloan?
Topcreditloan is a financial company that offers online unsecured personal loans.
2. What will show up on my credit report?
You will see an entry in your credit report title Topcreditloan / BPPR.
3. What happens after I complete my loan application?
Once the application is complete, your application is processed for final review. If anything else is needed during the verification process, we will contact you directly.
4. When will I receive my money?
We aim to process and approve applications very quickly. However, the disbursement of the loan will depend on the day of the week and time of day your loan is submitted and approved. If we approve your loan by 3:30 PM GMT-4 Monday - Friday, we’ll deposit your funds the following business day. If the loan is approved after that time or during the weekend or holiday, it may take a few more days to deposit the funds. Also, keep in mind that your bank’s processing time may delay access your funds. Some institutions could take from 1-3 business days to process the funds.
5. My credit is not good, is it worth applying?
We accept all applications from a variety of credit backgrounds. However those applicants with a high credit score tend to have the highest rate of approval, but we do look into other factors when we make our final decision, such as credit score, relation between income and debt payments, credit experience, and repayment history.
6. I have no income. Can I apply?
You can always apply for a loan. Income is certainly one of the factors we consider when making our decision. We accept all applications from a variety of credit backgrounds. However those applicants with a high credit score tend to have the highest rate of approval, but we do look into other factors when we make our final decision, such as income, debt to income ratio and repayment history.
7. What is needed to apply for a loan?
If you are over the age of 18 (19 if a resident of Alabama or Nebraska, or 21 if you are a resident of Colorado or Mississippi) you are welcome to apply. Our application is completely online. Once the application is complete, your application will be processed. If anything else is needed during the verification process, we will contact to you directly.
8. How can I apply?
We only accept online applications. To get started, go to topcredit.net and click on the green “Apply Now” button. If you would like assistance filling out the application, we’d be happy to walk you through the process.
9. Are you going to pull my credit report? / What agency do you use to check my credit score?
All customers who check their rate will receive a soft credit inquiry through Transunion, which is one of the 3 major credit bureaus in the United States. The soft inquiry will not affect your credit score. If you choose to continue with your application after pre-approval terms are generated, the Topcreditloan team will perform a Hard Inquiry on your credit report prior to the verification step of the application that will impact your credit score. Hard inquiries can affect your credit score and are visible to third parties reviewing your credit report.
10. I work in one state but live in another. Am I eligible for a loan?
We do offer loans in most states of the U.S., except for Massachusetts. So, you are eligible for a loan if Massachusetts is not your state of permanent residence.
11. Are there any other fees or charges with this loan application?
There are no hidden fees for completing the loan application or taking the loan. We'll never charge you hidden loan fees like application fees, membership fees, or prepayment fees. Any charges related to your loan throughout its term will be detailed in your loan contract/Promissory note.
12. What is APR?
Most loans use an annual percentage rate, or APR, to express the cost of the loan, which is the interest owed plus any additional fees. The APR is a standardized rate, allowing you to easily compare costs across multiple loan options.
It is important to note that the APR is typically not the same as the interest rate on the loan. In addition to the interest rate, APR considers all factors affecting the cost of a loan, including whether the rate is simple or compound interest, any additional loan fees, and the duration of the loan. In compliance with federal law, the APR for every personal loan offer will be stated in the loan agreement for each Eloan product so customers can review all loan details before accepting any terms.
If you qualify for a loan through us, we’ll work to match you with our lowest rate possible based on your selected loan amount and financial eligibility.
13. I’m done with the application, now what?
We strive for same day decision, depending on the day your loan application is submitted and approved, you will receive an email with the decision on your loan application.
If anything else is needed during the verification process, we will contact you directly.
14. How long until decision/funds received?
Our goal is same day processing. Once a final decision has been made, you will be notified via email. The funds will be made available to your financial institution one business day after your approval, but it can take anywhere from 1-3 business days for your institution to process the funds.