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  Grace Loan Advance Personal Loans
Grace Loan Advance Personal Loans
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Grace Loan Advance Personal Loans

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in Personal Loans from Grace Loan Advance
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Highlights
APR  (Variable APR) 5.99% - 35.99%
Loan Amount $100 - $35,000
Loan Term (Months) Up to 72 months

Grace Loan Advance Personal Loans Review

Grace Loan Advance Personal Loans is offered by Grace Loan Advance, a marketplace lending platform founded in 2015 and based in Los Angeles, CA. Grace Loan Advance Personal Loans is available in 50 states (and Washington, DC).

Key Takeaways
  • Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 5% and 36%. The starting rates for Grace Loan Advance Personal Loans are on the lower end of the spectrum.
  • Fast access to funds. In some cases, you can get your money within 1 business day*.
  • Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Grace Loan Advance Personal Loans early.
  • No origination fee. Grace Loan Advance Personal Loans does not charge a loan origination fee.
  • Super long loan terms. Grace Loan Advance Personal Loans offers loan terms of up to 72 months. Most personal loans have a maximum term of 60 months.
Grace Loan Advance Personal Loans Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • Loan options with $0 origination fee.
  • Considers applicants with fair credit.
  • Funding available within business day.
  • APRs as high as 35.99%.
  • Do not offer pre-approval with soft credit pull.
  • Charges prepayment fees.
  • Charges a late fee.
Grace Loan Advance Personal Loans FAQ

What interest rates and personal loan terms does Grace Loan Advance Personal Loans offer?

Grace Loan Advance Personal Loans has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Grace Loan Advance Personal Loans offer?

Grace Loan Advance Personal Loans offers a variable APR personal loan product that ranges from 5.99% APR up to 35.99% APR.

How much can you borrow via Grace Loan Advance Personal Loans?

Business loan amounts start at $100 and go up to $35,000.

What is the maximum loan term you can get with Grace Loan Advance Personal Loans?

Grace Loan Advance Personal Loans offers loans with terms of up to 72 months.

Grace Loan Advance Personal Loans Interest Rates & Loan Terms
Personal Loan Amount $100 - $35000
Loan Term up to 72 months
APR 5.99% - 35.99%

What fees does Grace Loan Advance Personal Loans charge?

Does Grace Loan Advance Personal Loans charge an origination fee?

Grace Loan Advance Personal Loans does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Grace Loan Advance Personal Loans charge a late fee?

No, Grace Loan Advance Personal Loans will not charge you a late fee if you miss one of the monthly payments.

Does Grace Loan Advance Personal Loans charge prepayment fees?

No, Grace Loan Advance Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Grace Loan Advance Personal Loans Fees
Origination Fee up to 0%
Prepayment Fee N/A
Late Payment Fee No

What do you need to qualify for Grace Loan Advance Personal Loans?

When it comes to credit scores, Grace Loan Advance doesn't have a set minimum or maximum. People with all types of credit scores can apply. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Grace Loan Advance Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Grace Loan Advance Personal Loans only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Grace Loan Advance Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Grace Loan Advance Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking or savings account
  • Proof of income
  • Recent bank statements
  • Driver's license
Grace Loan Advance Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 300 - 850 FICO

    What is the estimated funding time for a personal loan via Grace Loan Advance Personal Loans?

    Grace Loan Advance Personal Loans will typically approve (or deny) a loan application within 24 hours and fund loans within business day of approval.

    Does Grace Loan Advance Personal Loans report your account activity to credit bureaus?

    Yes, Grace Loan Advance Personal Loans reports your account activity to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

    Is Grace Loan Advance Personal Loans a legit company?

    Grace Loan Advance Personal Loans was founded in 2015. It is an established company that has been in business for 7 years.

    Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

    SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Contact

    Hours of Operation

    • Sunday Closed
    • Monday 9:00am - 5:00pm
    • Tuesday 9:00am - 5:00pm
    • Wednesday 9:00am - 5:00pm
    • Thursday 9:00am - 5:00pm
    • Friday 9:00am - 5:00pm
    • Saturday Closed

    About Grace Loan Advance Personal Loans

    Availability

      Available in 50 states and Washington, D.C.
    • Alaska
    • Alabama
    • Arkansas
    • Arizona
    • California
    • Colorado
    • Connecticut
    • Washington, DC
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Iowa
    • Idaho
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Louisiana
    • Massachusetts
    • Maryland
    • Maine
    • Michigan
    • Minnesota
    • Missouri
    • Mississippi
    • Montana
    • North Carolina
    • North Dakota
    • Nebraska
    • New Hampshire
    • New Jersey
    • New Mexico
    • Nevada
    • New York
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Vermont
    • Washington
    • Wisconsin
    • West Virginia
    • Wyoming

    Feature Breakdown

    No Origination Fee
    Origination Fee ($) Up to $0
    Origination Fee (%) Up to 0%
    Accepts Savings Accounts
    Checking Account Required
    Employment Statuses Considered
    • Other
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    • Tax Returns
    Verification Documents Required
    • Driver License (or other photo ID)
    • Proof of Income
    • Recent Bank Statements
    • Social Security Number
    Credit Score Range 300 - 850
    Approval Speed 24 hours
    Credit Bureau Reporting
    • Experian
    • Equifax
    • TransUnion
    Customizable Payment Dates
    Funding Time Range Starting at 1 day
    Payment Options Automatic Payments
    Loan Amount $100 - $35,000
    APR (Variable APR) 5.99% - 35.99%
    Loan Term Up to 72 months

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