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Jora Personal Loans

in Personal Loans from Jora Inc.

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Jora Personal Loans

Claimed

in Personal Loans from Jora Inc.

SuperMoney Net Recommendation Score -46%

SUPERMONEY NET RECOMMENDATION SCORE

-46%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

Mostly not recommended

3 users recommend
1 user is unsure
9 users don't recommend
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Highlights
Highlights
Community Rating Mostly not recommended
APR  (Fixed APR) 165% - 349%
Loan Amount $500 - $3,000
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 cash. 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.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Jora Personal Loans?

Loan amounts start at $500 and go up to $3,000

What can a personal loan from Jora Personal Loans be used for?

Personal loans from Jora Personal Loans are typically used for special purchases, medical expenses & procedures, unexpected expenses or similar purposes.

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. 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.

Jora Personal Loans Rates & Terms
Loan Amount $500 - $3000
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.
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

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

Other Services by Jora Inc.

Message From Jora Inc.

Jora helps underserved or underbanked Americans with an installment loan that’s tailored just for them. When you’re in need of a convenient cash loan, you can turn to Jora. Our loans are designed to help good people get the help they need to cover an expense. It’s easy to apply right from your phone, laptop or tablet — anywhere, anytime.

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  
Checking Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Immigration Status Considered U.S. Citizen
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Credit Score Range 450 - 720
Loan Amount $500 - $3,000
APR (Fixed APR) 165% - 349%
Loan Term 8 - 30 months

Jora Personal Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

-46%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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