Zippyloan Personal Loans Review

Zippyloan is a free online loan referral service that connects borrowers with a network of lenders offering personal loans from $100 to $15,000. Zippyloan is not a lender and does not make loan decisions. You can submit a request online 24 hours a day, 7 days a week, and if you are connected with a lender and approved, funds may be deposited as soon as the next business day. Zippyloan works with lenders offering both installment and short-term loans, and the lender you are connected with determines your actual APR, fees and repayment terms.

Affiliate Disclosure: We are a professional review site that receives compensation from the companies whose products we review and recommend. If you click on a link, when an application is approved, or when an account is opened, we may earn a commission. We are independently owned, and the opinions expressed here are our own.

What Is Zippyloan?

Zippyloan is an online service that connects prospective borrowers with lenders. It is not a bank, lender, loan broker or agent of a lender. Zippyloan says its network includes more than 100 lenders offering different types of personal loans.

The service is free to use. Zippyloan receives compensation from lenders when prospective borrowers meet the lenders' criteria and are considered leads.

When you submit your information, Zippyloan's system looks for a potential lender match. If a lender is found, you are directed to that lender's website to complete the lender's application and review the actual loan terms.

How Much Can You Borrow With Zippyloan?

You can request between $100 and $15,000 through Zippyloan. However, the amount you actually receive depends on your income, credit history, state of residence and the lender you are connected with.

Not every lender offers $15,000. If you do not qualify for the amount you originally request, Zippyloan says you may be able to request a lower amount through its online process.

What Are Zippyloan's Rates and Fees?

Zippyloan does not charge borrowers a fee for using its service and does not determine the APR on your loan. The lender you are connected with determines the actual interest rate, fees and repayment terms.

Zippyloan says personal loan costs can vary based on the lender, state, amount borrowed, repayment period and your credit history. Its website gives a general APR range rather than promising a specific rate to individual borrowers.

For illustration, Zippyloan provides examples for a $2,000 loan over 24 months. At 12% APR, the example payment is $94.15 per month with $2,259.60 paid over the life of the loan. At 24% APR, the payment is $105.74 with $2,537.76 paid in total. At 35.99% APR, the payment is $118.09 with $2,834.16 paid in total.

These are examples only. Your actual rate and total cost are determined by the lender you receive an offer from.

Can I Get a Zippyloan Loan With Bad Credit?

You may still be able to connect with a lender if you have bad credit. Zippyloan says its lender network considers borrowers with excellent, average and poor credit.

Credit history is only one factor lenders may consider. Income, personal information and state of residence can also affect whether a lender is willing to offer you a loan and what terms it provides.

Having bad credit does not guarantee approval, and borrowers with lower credit scores may receive higher interest rates or less favorable terms.

What Are the Requirements for Zippyloan?

You must be at least 18 years old and have a regular source of income. Zippyloan's online request also asks for identifying, address and income information.

The lender you are connected with may request additional information, including employment history, bank account information and other details needed to complete its application and make a credit decision.

➤ Check Your Zippyloan Options

How Fast Can Zippyloan Get You Money?

Funds are typically deposited as soon as the next business day after you complete the lender's requirements and sign the loan agreement. Zippyloan says requests can be submitted 24 hours a day, 7 days a week.

The actual funding time depends on the lender and your bank. Next-business-day funding is possible, but it is not guaranteed for every borrower.

How Long Do You Have to Repay a Zippyloan Loan?

Repayment terms depend on the lender and type of loan you receive. Installment loans are generally repaid over multiple payments, while short-term loans may be due on your next payday.

Zippyloan says installment loans in its network commonly have repayment periods of 6 to 60 months, while its general information gives a broader range of 6 to 72 months for personal loans.

Payments may be scheduled monthly or every two weeks depending on the lender and loan agreement.

Does Zippyloan Have a Prepayment Penalty?

Zippyloan's general personal-loan information lists no prepayment penalty. However, because Zippyloan is not the lender, you should review the actual lender's agreement to confirm the terms that apply to your specific loan.

Is Zippyloan Available 24 Hours a Day?

Yes. Zippyloan says its online loan-request service is available 24 hours a day, 7 days a week. The online form can be completed from a computer or mobile device.

Is Zippyloan Safe?

Zippyloan says it uses 256-bit encryption to protect information submitted through its website. The company also displays an Online Lenders Alliance seal on its website.

However, security of the initial Zippyloan request is only one consideration. Because Zippyloan connects borrowers with outside lenders, you should also review the privacy practices and terms of any lender you are ultimately connected with.

Where Is Zippyloan Available?

Zippyloan is not available to residents of New York, West Virginia or Oregon. The company also states that loans are not available in all states or at all requested amounts.

What Happens After I Submit a Zippyloan Request?

After you submit your information, Zippyloan's loan engine searches its network for a potential lender match. If a lender is found, you are notified in real time and directed to the lender's website.

You then complete the lender's application and receive the lender's actual loan terms. Zippyloan does not approve the loan, determine the APR or guarantee that you will receive an offer.

If no lender is found, Zippyloan says it may direct you to additional options that could address your financial needs.

Is Zippyloan Legit?

Zippyloan is a loan referral service, not a direct lender. The company openly states that it does not make loans, approve borrowers or determine loan terms.

Zippyloan also explains that it receives compensation from lenders for leads. That means there is no charge to the borrower for using the service, while participating lenders compensate Zippyloan when they receive qualifying leads.

If you are connected with a lender, the lender—not Zippyloan—is responsible for the loan terms. You should carefully review the APR, fees, payment amount, repayment period and total cost before accepting the loan.

Our Zippyloan Personal Loans Review

Zippyloan provides a simple online way to request personal loan options from a network of lenders, with requests from $100 to $15,000 and possible next-business-day funding. The service is free, available around the clock, and its lender network includes options for borrowers with different credit histories.

The most important point is that Zippyloan is not the lender. It connects prospective borrowers with lenders, and those lenders make the actual approval decisions and determine the APR, fees and repayment terms.

If you have poor credit, you may still be able to receive an offer, but there is no guarantee of approval and the rate you receive could be substantially higher than the rates available to borrowers with stronger credit.

If you decide to submit a request, review the actual lender's agreement carefully before signing, particularly the APR, total amount you will repay, payment schedule and any fees.

➤ Check Your Zippyloan Options