Strongly not recommended
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Where does MobiLoans do business?
MobiLoans is a direct lender based in Marksville, LA. It was founded in 2011 and offers personal lines of credit in 30 states across the USA.
What are the APRs offered via MobiLoans?
MobiLoans offers personal lines of credit with APRs starting at 206.73% and up to 425.45%.
Does MobiLoans charge an origination fee?
No, MobiLoans does not charge an origination fee.
An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.
Does MobiLoans charge a cash advance fee?
Yes, MobiLoans charges a fee.
Does MobiLoans charge a late fee?
Yes, MobiLoans may charge borrowers a late payment fee.
Does MobiLoans charge prepayment fees?
No, MobiLoans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.
How much can you borrow via MobiLoans?
Personal lines of credit start at $200 and go up to $2,500.
What do you need to qualify for a line of credit with MobiLoans?
Applicants with a credit score of at least 300 can apply for a line of credit via MobiLoans.
Active duty servicemembers and their covered dependents cannot apply for a line of credit via MobiLoans. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
Only U.S. citizens and permanent residents can apply for a line of credit.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Proof of income
What is the estimated funding time for a personal line of credit via MobiLoans?
MobiLoans will typically fund personal lines of credit within 3 business days of approval.
Does MobiLoans report payments to credit bureaus?
MobiLoans may report credit data to the following credit reporting agencies:
- Alternative credit bureaus (not Transunion, Experian, or Equifax)
P.O. Box 1409
Marksville, LA 71351 USA
- Visit Site
- New Mexico
- North Dakota
- Rhode Island
- South Carolina
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Tax Returns
- Employed Full-Time
- Employed Part-Time
- U.S. Citizen
- U.S. Permanent Resident
- Proof of Income
- Driver License (or other photo ID)