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Frequently Asked Questions

Here’s a selection of frequently asked questions. If you need to speak to us, please contact us.
What is Loan Spyder?
Loan Spyder is a loan introduction service which attempts to match your application details with a local lender willing to lend to you. This service is FREE to the customer applying. We may receive a commission from the lender for any customer introductions.
What types of loans are available?
Personal – A personal loan is a fixed-term loan that can be used for a variety of purposes such as home improvements or vehicle repairs. The terms vary from 3 months to 4 years. Rather than repaying this type of loan in one single installment, they are typically repaid over a set number of monthly installments.
Used Auto Financing – This is very similar to a personal loan with it being a fixed payment and term loan. The terms on an auto loan can go up to 60 months. The biggest difference with this type of loan is the vehicle purchased is used as security or collateral for the loan until it is paid in full. This type of loan usually requires that the vehicle is fully insured with the lender named as a Lien Holder on the policy. There can be restrictions due to the year , make or mileage of the vehicle being purchased.
How much can I borrow?

The amount will depend on the lender, Loanspyder will make every effort to connect you with the appropriate lender that fits your request. Typical loan amounts range from 250-10,000.00.

What can I use the loan for?
There are no limitations for what you can do with your personal loan! People generally get personal loans to help with home repairs, a vacation or an unexpected expense.
I have poor credit, can I still apply?

Yes, we have many lenders in our network that work with customers who have less than perfect credit or no credit at all. What’s more, by accepting a loan offer you may improve your credit score when you make your repayments on time. Many of our lenders report to the main credit reference agencies who will report your on-time payments. Be aware though that they will also report late or missed payments so please don’t request a loan if you cannot afford to repay it.

How long will it take for me to receive the funds?
This will depend on what time of the day your request is made. In many instances you can have the loan funds the very same day. Please allow 24-48 hours for processing and verification of information in some cases. It’s quick and easy request your funds now!

Possible Implications

When borrowing, it is important to understand the implications that may happen if you do not adhere to the terms and agreement of your loan. We have listed here the possible implications and stress that you fully read and understand the terms of any loan offered to you before making a final decision to proceed.

 

Late or Non Payment

By accepting the terms and conditions for a personal loan, you essentially agree to repay the loan both: 1) with interest and 2) in the time frame specified in the loan agreement. In most cases, failure to repay the loan in full, or making a late payment, can result in additional charges. Loanspyder.com has NO ability to predict or estimate what supplemental charges will be incurred in the event of late, partial, or non-payment. Loanspyder.com also has NO control or knowledge of any loan agreements or details between you and your lender. Please carefully review the late, partial, and non-payment policies that your lender provides with your loan agreement. Loanspyder.com works hard to partner with only the most trustworthy and reputable lenders who pursue the collection of past-due loan accounts in a fair and reasonable manner.

 

Credit Score Impact

Our lenders may perform credit checks to determine your credit worthiness, credit standing and/or credit capacity. By submitting your request you agree to allow our lenders to verify your personal information and check your credit. Please be aware that missing a payment or making a late payment can negatively impact your credit score.

 

Collection Practices

Loanspyder.com is not a lender and, because of this, we have NO involvement in the debt collection process. As part of the lending agreement provided to you by the lender, they will disclose their debt collection practices. If you have any collection questions, please contact the lender for complete details. Loanspyder.com only works with reputable lenders who use fair collection practices.

(*) – Three minutes is the average time taken to complete the online loan offer process, submit your details and receive a loan offer decision if approved.

(**) – Although some providers offer rates from 4.95% up to 35.99% APR rates that low are only available to certain customers. The repayment terms are for close end loan products, and is not reflective of all loan products offered in our network.

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