Highlights
Community Rating	Mostly not recommended
APR (Fixed APR)	165% - 349%
Loan Amount	$500 - $2,600
Loan Term (Months)	8 - 30 months
Number of Reviews	13

Jora Personal Loans Review

Jora Personal Loans is offered by Jora Inc., a direct lender founded in 2017 and based in Addison, TX. Jora Personal Loans is available in 11 states across the USA.

Key Takeaways

APRs starting at 165%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Jora Personal Loans are on the higher end of the spectrum.
Fast access to funds. In some cases you can get your money within 1 business day.
Hard credit pull required. You can't check your rates or see if you prequalify for Jora Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
No origination fee. Jora Personal Loans does not charge a loan origination fee.
No late fees. Missing a payment can seriously damage your credit, but Jora Personal Loans will not charge additional fees if you miss the due date on a payment.
Short loan terms. Jora Personal Loans offers loan terms as short as 8 months. Most personal loans have a minimum term of 12 to 36 months.

Jora Personal Loans Pros & Cons

Pros	Cons
$0 prepayment fee. $0 origination fee. Considers applicants with fair credit. Funding available within 2 business days.	APRs as high as 349%. Do not offer pre-approval with soft credit pull. Jora Personal Loans does not report to credit bureaus.

Jora Personal Loans FAQ

What rates and terms does Jora Personal Loans offer?

Jora Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Jora Personal Loans offer?

Jora Personal Loans offers a fixed APR personal loan product that ranges from 165% APR up to 349% APR.

How much can you borrow via Jora Personal Loans?

Loan amounts start at $500 and go up to $2,600

What is the maximum loan term you can get with Jora Personal Loans?

Jora Personal Loans offers personal loans with terms ranging from 8 to 30 months.

Jora Personal Loans Rates & Terms
Loan Amount	$500 - $2600
Loan Term	8 - 30 months
APR	165% - 349%

What fees does Jora Personal Loans charge?

Does Jora Personal Loans charge an origination fee?

Jora Personal Loans does not charge a loan origination fee.

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

Does Jora Personal Loans charge a late fee?

No, Jora Personal Loans will not charge you a late fee.

Does Jora Personal Loans charge prepayment fees?

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

Jora Personal Loans Fees
Origination Fee	N/A
Prepayment Fee?	No
Late Payment Fee	N/A

What do you need to qualify for Jora Personal Loans?

Applicants with a credit score of at least 450 and up to 720 may be eligible for Jora Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Jora Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Jora 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. APRs for the Jora Personal Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Jora Personal Loans.

Jora Personal Loans Eligibility Criteria
Minimum Age	18
Bank Account Required?	Yes
Credit Score	450 - 720

What is the estimated funding time for a personal loan via Jora Personal Loans?

Jora Personal Loans will typically provide a credit approval decision in less than an hour and fund the loan within 2 business days.

Jora Personal Loans Disclosure: First-time customers typically qualify for installment loans between $500 and $2,600, with an APR between 186% and 349%. A $2,000 loan from Jora would require 48 bi-weekly installments of $179.54, including $6,618.50 of interest and an APR of 230%. After the 48th successful payment, your loan would be paid in full. Refer to What It Costs page for additional details.

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Message From Jora Inc.

Message From Our Editor

What We Love About Jora Credit

Jora Credit offers two types of loans: lines of credit and installment loans. These loans are unsecured, so consumers do not need to put down collateral to qualify for a loan. These personal loans are typically between $500 and $2,600 and have terms that range from four to 30 months, although this can vary based on the customer’s location. There are no non-sufficient fund fees, prepayment penalties, late fees, or origination fees on the loans.

What Could Jora Credit Do Better?

Jora Credit is one of the most expensive lenders for personal loans and is typically used only by high-risk borrowers who are in an emergency financial situation. Also, Jora Credit only operates in 12 states, including Alabama, California, Delaware, Idaho, Kansas, Missouri, New Mexico, North Dakota, South Carolina, Tennessee, Utah, and Wisconsin.

Jora Credit Backstory

Jora Credit was founded in 2017 in Addison, Texas, to provide a reliable and simple way for customers to take out a personal loan. The company offers a higher level of repayment flexibility than many lenders of personal loans on the market. It also features loans that are catered toward individuals who have less than perfect credit.

The Verdict

For customers who are 18 or older, have a source of income and a checking account, Jora Credit offers a loan option that doesn’t depend on having a good credit score. However, the APRs for personal loans are extremely high and can get expensive quickly. It can be an option for someone who needs quick cash and has a bad credit score that prevents qualifying at other lenders.

Many individuals will find cheaper options for personal loans by shopping around and getting quotes elsewhere. This can prevent you from paying more than you need to in an emergency. Credit card cash advances, borrowing from friends, or personal loans from other lenders may be less expensive.

Contact

Headquarters
5080 Spectrum Drive Suite 700W
Addison, TX 75001
Visit Site

Other Services by Jora Inc.

Loans

Personal Lines of Credit

Availability

Available in 11 states

Alabama
Delaware
Idaho
Kansas
Missouri
New Mexico
North Dakota
South Carolina
Tennessee
Utah
Wisconsin

Feature Breakdown

No Origination Fee
No Prepayment Fee
No Late Fees