LoanPioneer Review

By Sarah Pritzker

LoanPioneer at a Glance

 Loan TypesPeer-to-peer loans, personal installment loans
 Loan Amount$100 to $5,000
 Repayment Terms   3-36 months
 APR5.99%-35.99%
 Best forAverage credit, people short on time

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Overview

LoanPioneer is a fresh, new lending portal that is trying to make it easier for borrowers to get personal loans, faster. With hundreds of lenders within its network, LoanPioneer provides flexible terms and some of the lowest APRs available today (if you are approved). New to the industry, LoanPioneer also has an extremely flexible range of loan amounts, making it ideal for just about anyone looking for a fast cash advance.

Best For?

  • Small cash advances: LoanPioneer is best suited for anyone who needs small cash advances without a lot of hassle. The offers start as low as $100, making it the perfect solution for someone who just needs a bit of extra financing to help them through the month.
  • Multiple applications: LoanPioneer is best for people who don’t have a lot of time or patience to fill out multiple application forms.

Range of Loans on Offer

  • Fast application process for hundreds of lenders
  • Small cash loans
  • Flexible repayment options
  • Personal loans, no questions asked

LoanPioneer offers small personal loans in the forms of peer-to-peer, bank loans, and personal installment loans, ranging from $100 to $5,000. While these amounts aren’t enough for large expenses such as opening a business, funding a major corporate event, or buying a house, this range is ideal for people who just need a little supplementary income for a short amount of time. If you are a freelancer and having a slow season, if your paycheck was delayed for some reason, if you get hit with an unexpected expense such as a medical emergency, or if you want to make a small purchase in cash, LoanPioneer is a good place to turn for that cash reserve.

LoanPioneer’s personal loans are convenient because they come with no strings attached. LoanPioneer won’t require that you tell it what you are using the money for like many other lenders on the market; the loan reason section on the application form even has an “Other” option for anonymity. These types of loans also require no collateral, so it is easier for more people to get approved.

Pros and Cons

Pros

Cons

  • Free portal
  • Access to multiple lenders simultaneously
  • Fast approvals (within 24 hours)
  • New to the industry
  • Cap of $5,000 on loans
 

The Application Process

The LoanPioneer personal loans application process is faster than most, even those that offer online applications. The online form is made in an easy to understand format, so you just input your information, and the whole process goes quickly. You’ll be asked questions like:

  • How much money do you want to borrow (a sliding scale).
  • For what purpose are you borrowing the money.
  • Personal details like your birthday and address, whether or not you own a car, and the amount of time you've been living at your current residence (and whether or not you own it).
  • Some more specific details like whether or not you were ever or are currently in the armed forces, if you have a driver’s license/own a car, and your estimated credit score.
  • Fill out what your source of income is (benefits, salary, self-employed, etc.).
  • Fill out your bank info.

As mentioned, the whole application form is designed to be an easy click-thru for a faster process all around, something we really appreciated. Once all of your details are submitted, LoanPioneer will search its database of lenders to find ones that are suitably fitted to your criteria. With our trial run, it only took a few seconds to return several results. You’ll be given a list of possible loan offers from different lenders. You can browse through to see the details of the offer and compare your options.

The best part about the LoanPioneer application process is that it is a one-stop shop. You enter your information once, and you are essentially filling out multiple applications because LoanPioneer has a network of hundreds of lenders. You won’t be approved by all of these lenders, but by applying in bulk, you increase your odds of finding a suitable lender that will give you the terms you want and can afford. While each lender can set its own terms, most companies working with LoanPioneer will guarantee that you receive your money in as little as 24 hours from the time of contract signing.

How Much Can You Borrow?

As LoanPioneer is a lending portal, the amount of money you can borrow will vary from one lender to the next. Borrowers can get anywhere from as little as $100 up to $5,000. This is a really nice range considering most lenders will have a much higher minimum requirement. Having a lower amount limit allows people who just need a small amount of cash for a purchase or a short-term cash advance to get what they need without paying higher fees on larger amounts.

LoanPioneer’s lending requirements are pretty standard for the industry. In order to apply for a loan from one of LoanPioneer’s lenders, you’ll need to:

  • Be 18 years old+
  • Be a citizen of the United States or a permanent resident
  • Have a valid Social Security number
  • Be currently employed by an employer, self-employed, or be receiving benefits of some sort
  • Have a valid checking account linked to your name*

* Not all lenders will make this a requirement, but many do

Repayment Terms

Just as the amount of money you can borrow varies according to the lender, so too the repayment terms are different for each one. Repayment plans can be found for anything between 3-36 months.

Privacy & Security

LoanPioneer takes security very seriously and implements several security measures to keep you and your information safe. For one thing, it only shares your personal details with the lenders that are relevant to your search so you can find a personal loan that meets your requirements.

Additionally, LoanPioneer uses bank-level security features on all of its web pages, so your information is totally encrypted and safe from prying eyes at all times. What's more, LoanPioneer.com is secured with McAfee Secure security protection. This ensures that the website has no malware or malicious links within the site, has a valid SSL certificate at all times, and is free from any phishing scams.

Finally, LoanPioneer is a member of OLA, the Online Lenders Alliance. OLA members are all organizations committed to fair business trading and conduct. All members sign and comply with Best Business Practices and a Code of Conduct that ensures customers are treated fairly, honestly, and respectfully.

Help & Support

Customer service is available via telephone, email, or snail mail.

Summary

LoanPioneer is a new company with big ideas for making personal loans faster, easier, and more accessible to the general public. With a lot of good policies in place, including hundreds of lenders, flexible repayment terms, and a good range of loan amounts, LoanPioneer is on its way to changing the way people borrow money today.

Physical Address

1321 Upland Dr. Ste 6458.

Houston TX 77043

Visit LoanPioneer

 

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