Total Loan Company Personal Loans Review

Total Loan Company Personal Loans is offered by Total Loan Company, LLC, a direct lender founded in 2013 and based in Mount Prospect, IL. Total Loan Company Personal Loans is available in 4 states across the USA.

Key takeaways

• Fast access to cash. In some cases you can get your money within 1 business day.
• Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered for Total Loan Company Personal Loans.
• Small-dollar loans. Total Loan Company Personal Loans has a maximum loan amount of just $2,500.
• Hard credit pull required. You can't check your rates or see if you prequalify for Total Loan Company 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. Total Loan Company Personal Loans does not charge a loan origination fee.
• Short loan terms. Total Loan Company Personal Loans offers loan terms as short as 9 months. Most personal loans have a minimum term of 12 to 36 months.
• Minimum income of $18,000. You will need an annual income of at least $18,000 to apply for Total Loan Company Personal Loans, which is below average for the lenders in our database

Total Loan Company Personal Loans Pros and Cons:

Pros	Cons
$0 prepayment fee. $0 origination fee. Considers applicants with poor credit. Fast funding.	APRs as high as 199%. Small loan amounts (maximum of $2,500). Do not offer pre-approval with soft credit pull. Charges a late fee. No co-sign option.

What rates and terms does Total Loan Company Personal Loans offer?

Total Loan Company Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What fees does Total Loan Company Personal Loans charge?

What do you need to qualify for Total Loan Company Personal Loans?

Applicants with a credit score of at least 550 and up to 620 are eligible for Total Loan Company Personal Loans. The minimum age to be eligible is 22 or the state minimum, whichever is higher.

To qualify for personal loans with Total Loan Company Personal Loans, applicants need a minimum annual income of $18,000 or higher. Total Loan Company Personal Loans only considers borrowers who are employed and meet the minimum income requirement.

U.S. citizens are, of course, eligible for the services offered by Total Loan Company 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 checking account
• Recent pay stubs

Total Loan Company Personal Loans Eligibility Criteria

Minimum Age	22
Bank Account Required?	Yes
Application Types Accepted	Individual Applications
Credit Score	550 - 620

What is the estimated funding time for a personal loan via Total Loan Company Personal Loans?

Total Loan Company Personal Loans will typically approve (or deny) a loan application within 1 hour and fund personal loans within 2 business days of approval.

Does Total Loan Company Personal Loans report your account activity to credit bureaus?

Total Loan Company Personal Loans reports your account activity to the following credit reporting agencies:

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