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 Credit Personal Loans Review

Jora Credit Personal Loans is offered by Jora Inc., a direct lender founded in 2017 and based in Addison, TX. Jora Credit 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 Credit 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 Credit 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 Credit Personal Loans does not charge a loan origination fee.
No late fees. Missing a payment can seriously damage your credit, but Jora Credit Personal Loans will not charge additional fees if you miss the due date on a payment.
Short loan terms. Jora Credit Personal Loans offers loan terms as short as 8 months. Most personal loans have a minimum term of 12 to 36 months.

Jora Credit 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 Credit Personal Loans does not report to credit bureaus.

Jora Credit FAQ

What interest rates and personal loan terms does Jora Credit offer?

Jora Credit has higher than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Jora Credit offer?

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

How much can you borrow via Jora Credit?

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

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

Jora Credit offers loans with terms ranging from 8 up to 30 months.

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

What fees does Jora Credit charge?

Does Jora Credit charge an origination fee?

Jora Credit 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 Jora Credit charge a late fee?

No, Jora Credit will not charge you a late fee if you miss one of the monthly paymenbts.

Does Jora Credit charge prepayment fees?

No, Jora Credit 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.

Jora Credit Fees
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	No

What do you need to qualify for Jora Credit Personal Loans?

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

Jora Credit Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Jora Credit 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 Credit 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 Credit Personal Loans.

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

Applicants must have an active and valid personal checking account
Proof of identity
Proof of citizenship or residence permit

Jora Credit Eligibility Criteria
Minimum Age	18
Bank Account Required?	Yes
Application Types Accepted	Individual Applications
Credit Score	450 - 720

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

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

Jora Credit 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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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.

Message From Jora Credit Personal Loans

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
Email Support

Other Services by Jora Inc.

Loans

Personal Lines of Credit

Availability

Available in 11 states

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

Feature Breakdown

No Origination Fee
No Prepayment Fee
No Late Fees