EastSide Lenders is an online lender based in Dover, Delaware. It was established in 2005 and has a D rating with BBB. Although EastSide Lenders has an office in in Delaware, it has its corporate headquarters in the British Virgin Islands and all transactions and loans are issued from there. Moreover, one of the requirements to obtain a loan with EastSide Lenders is to agree that all claims and disputes are governed by British Virgin Islands laws.
EastSide Lenders is an online payday lender. Interest rates are high and payment is due by the next payday but borrowers of all credit types can qualify for a loan. No collateral is required and funds can be withdrawn by the next business day. The application process is entirely online and clients receive instant notice of approval.
Instead of charging ongoing interest rates, EastSide Lenders charges a one-time finance fee. Borrowing $50 costs $15, a $100 has a $30 charge and so on. This is the equivalent of 360% to 782% APR depending on whether a client repays the loan within 14 or 30 days.
EastSide Lenders' clients can borrow up to $1,000 depending on their income and other eligibility requirements. First time clients can only borrow up to $700 but return customers with a good payment history can qualify for up to $1,000. To illustrate the cost of borrowing with EastSide Lenders, a $1,000 loan with a 14-day or 30-day period will cost $300.
EastSide Lenders operates in all 50 states.
The application process is fast and easy to complete. The form only takes two minutes to finish and the approval or denial decision is instant. There is no need to fax or mail documents. The entire process is performed online. The form does require borrowers to provide two references, income level and bank account details.
EastSide Lenders offers larger loans than most payday lenders. Its interest rates are high but they're competitive when compared to other payday lenders and they are made available to borrowers with all kinds of credit. Approval response is instant and funds can be deposited by the very next business day. EastSide Lenders rewards return customers by offering them a higher loan limit and there is never any need for collateral.