Overview

Where does iLoan do business?

iLoan is a direct lender based in Saint Paul, MN. Founded in 1920, iLoan offers access to personal loans in 14 states across the USA.

What personal loan APRs are offered via iLoan?

iLoan offers a fixed APR personal loan product that ranges from 11.24% up to 36% APR.

Does iLoan charge an origination fee?

Yes, iLoan charges a loan origination fee of 0% to 5% of the loan amount. iLoan deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does iLoan charge a late fee?

Yes, iLoan may charge borrowers a late payment fee

Does iLoan charge prepayment fees?

No, iLoan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via iLoan?

Loan amounts start at $2,550 and go up to $25,000.

What can a personal loan from iLoan be used for?

Personal loans from iLoan are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.

What is the maximum loan term you can get with iLoan?

iLoan offers personal loans with terms ranging from 24 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with iLoan?

Applicants with a credit score of at least 540 can apply for a loan via iLoan . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via iLoan. Their rates fall within the limits of The Military Lending Act.

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

• Driver's license
• Applicants must have an active and valid checking account
  
• Proof of citizenship or residence permit
• Recent pay stubs

What is the estimated funding time for a personal loan via iLoan?

iLoan will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.