Confused about which loan to choose? You’re not the only one. Let’s discover what Motive Loan is really like and decide if it’s a legitimate service.
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Quick facts: Is Motive Loan Legit
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Overview of Motive Loan
Motive Loan is a peer-to-peer lender. It offers loans from individuals and institutions. Its platform allows users to apply for a loan. This gives them unsecured funding, for business or personal purposes. Unlike traditional banks, Motive doesn’t check credit score. This makes it a great choice for people with bad credit. It even helps those who have had trouble getting approved at a bank.
Motive provides flexible repayment terms and rates. Plus, its application process is streamlined. And, users get near-instant access to funds, when approved. To make sure it’s legitimate, Motive has registered with the Financial Conduct Authority (FCA). This means they follow state regulations and applicable laws.
In conclusion, Motive Loan is a safe and legitimate option for anyone needing fast and secure financing.
What is Motive Loan?
Motive Loan is an online loan provider in California, with loan services available in 41 states. It was founded by two entrepreneurs to provide more cost-effective loan options. Their products range from personal loans to home equity loans and car loans.
Motive Loan is a reputable business with reasonable rates and terms. From the website, you can apply for a loan and get personalized quotes and advice. For most cases, the application process is quick and customer service is friendly. They help customers find the best financial solution for their needs.
What services does Motive Loan offer?
Motive Loan is a financial services company. It offers loans for various reasons. Customers can access them online. Examples are home improvements, debt consolidation and medical expenses.
Fixed rate loan products are available with consistent monthly payments. You can repay in two, three or five-year increments. Motive Loan also provides personal line of credit loans. These act like credit cards. They have flexible repayment terms and variable interest rates.
To be eligible, you must have a minimum credit score of 640. Plus, you must provide proof of income or other financial evidence. A soft credit check must also be passed before approval.
Is Motive Loan Legit?
Motive Loan is an online financial tech company that offers personal loans. Started in 2018, they provide loan amounts from $3,000 to $45,000. Interest rates and repayment terms can be tailored to fit your budget. There are no physical locations or financial advisors so the process of applying is less stressful.
If you’re thinking of taking out a Motive Loan, do your research first. Read reviews on sites such as the Better Business Bureau (BBB), Google Reviews, and Trustpilot. This will give you an idea of what other customers have experienced.
Review of Motive Loan’s licensing and security
Motive Loan is a licensed online loan provider, certified by the CFPB. Since 2015, they’ve been providing customers with easy loans. To keep data safe, they use encryption tech. They also comply with state and federal laws to protect customer data.
When customers apply, they must give info like SSN, bank info and a valid ID. They must also create a secure password. The encryption tech guards users’ data from hackers or other bad actors. These measures keep all customers’ confidential info secure and private while using Motive Loan’s services.
Review of Motive Loan’s customer reviews
Motive Loan is a well-known online loan provider. Before we trust the positive reviews, let’s take a look at what their customers say. Better Business Bureau and Trustpilot are good sources of real-life feedback.
The reviews show that Motive Loan is legit and reliable. People praise their customer service and quick approvals. But, watch out for high interest rates and hidden fees.
In conclusion, if you’re looking for an online lender with great service and fast processing, Motive Loan might be worth considering.
Pros and Cons of Motive Loan
Motive Loan is an online lender that offers various loans, such as personal and auto. They provide a user-friendly platform for quick loan estimates and applications.
The goal of Motive Loan is to offer customers a fast, convenient way to get financing. Pros include competitive interest rates, flexible repayment terms, short application time and no prepayment penalty. However, there are some cons. Customers have reported difficulty getting customer service and the website might not always be user-friendly or intuitive. Plus, users must have good credit scores to qualify.
Before making a decision, think about all these factors. Consider what your individual needs are. Then decide if Motive Loan is the best choice.
Pros
Motive Loan has great benefits for its customers. It is an online lender and does not charge origination fees or extra costs. Interest rates range from 4.99% to 35.99%. The loan terms are up to 7 years and funds are available the next day if approved. The average APR is around 11%. This is great for those with less-than-perfect credit or limited funds.
They also offer repayment options on their website or by mail, making it simple to manage payments:
- Online
- By mail
Cons
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Because of all this, it’s important to do more research before deciding if Keto GT is right for you.
Alternatives to Motive Loan
Motive Loan is a online personal loan lender that supplies small-dollar, short-term loans. They offer a simple application process without fees. However, people have raised questions about their legitimacy.
If you want another option to Motive Loan, consider other online loan providers. These typically offer different loan products and terms, which could fit your finances better. Some need collateral or a co-signer for bigger loans. Other alternatives include peer-to-peer lending websites and credit unions. Check out all the options to decide which is best for you.
Best Egg
Best Egg is an online lender. It specializes in short-term loans. People with good credit can apply. It was founded in 2014 and has been a successful lender, helping many people.
Loan amounts range from $2,000 to $35,000, with terms lasting up to 3 years. Interest rates are fixed and repayment is flexible. Applying is easy and fast, but approval isn’t guaranteed. It’s best to research thoroughly before applying.
LightStream
LightStream is a wing of SunTrust Bank. They offer personal loans with fixed rates and flexible terms at competitive prices.
On the other hand, Motive Loan is an online loan provider that lends to those with all types of financial backgrounds. Even those who have had credit issues can apply! Motive Loan guarantees loan approvals within 24 hours and fast transfers, making it an attractive choice for those seeking quick funding. Customers appreciate Motive Loan’s ease-of-use and responsiveness, according to reviews.
SoFi
SoFi is a top-notch US peer-to-peer lender. They offer personal loans, student loan refinancing, and home mortgage loans. Low interest rates, no origination fees, and no hidden costs are what they are known for. Plus, SoFi has an awesome customer service team to answer all questions quickly. On top of that, users have access to financial tools to help them stay on top of payments.
So, is SoFi legit? A big yes! Because of their commitment to providing quality customer service and precious financial services at low rates, SoFi is absolutely legit.
Conclusion
Motive Loan is a rising fintech firm. They offer personal loans. After investigating, we can trust them. They have incredible customer aid available 24/7. Their application process is easy and their interest rates are fair. Whether you should take out a loan through Motive Loan is up to you. But if you do, you can feel sure they’re reliable and honest.
FAQs about: Is Motive Loan Legit
Q1: Is Motive Loan Legit?
A1: Yes, Motive Loan is a legitimate lender. They are a direct lender offering personal loans to consumers in all fifty states in the US. They offer competitive fixed rate loans with no hidden fees, and they are also a member of the Online Lenders Alliance (OLA).
Q2: How Does Motive Loan Work?
A2: Motive Loan works by connecting borrowers with lenders who offer loan products that fit the borrowers’ needs. Borrowers can apply for a loan online and receive a decision within minutes. Once the loan is approved, the loan funds are then deposited directly into the borrower’s bank account.
Q3: What are the Benefits of Getting a Loan from Motive Loan?
A3: The benefits of getting a loan from Motive Loan include competitive rates, fast approval, and flexible repayment plans. They also have a friendly and knowledgeable customer service team available to answer any questions you may have.