Beneficial Funding Review: Is It Legit Or A Scam?

If you’re looking for a personal loan, Beneficial Funding can help connect you with multiple lenders. They work with a network of independent lenders who can offer different types of loans depending on your needs. They advertise their services at beneficialfunding.com.

Beneficial Funding Summary

After researching their website and reading through the fine print, we found some interesting facts.

• The company is not a lender and does not engage in the business of lending.
• Any of the Lenders may decline to extend credit to you if, after receiving your application.
• Annual Percentage Rates (APR) range from 2.92% to 24.99% 
• Their products or services are not offered to all state residents.
• Usage of your Offer Code is required to receive the offer
• Free Consultation
• It does not provide services to residents of South Dakota.

If additional documents are requested, approval for a loan may take longer. Terms and conditions will be based on state law and creditworthiness.

What is Beneficial Funding?

Beneficial Funding can help connect you with a network of independent lenders who may be able to provide you with credit. They are located at 101 S. Reid St., Suite 307, Sioux Falls, SD 57103, and you can contact them at (888) 564- 5590 for more information.

Unfortunately, this company does not have a BBB account or rating. However, they do have a verified Trustpilot account with a 4.4 rating. This is still a good indication of the company’s trustworthiness.

How does BeneficialFunding.com Work?

BeneficialFunding.com works with a network of independent lenders who may be able to give you the credit you need. However, any of the lenders they work with can decline your application if they feel you don’t meet their criteria.

A customer’s loan amount, term, and APR may vary based on credit determination and state law. Loan amounts typically vary by state.

To take advantage of the mail offer, you must use your Offer Code.

How much does Beneficial Funding charge?

Beneficial Funding’s website lacks detailed information on fees.

Beneficial Funding BBB Rating & Reviews

Although we could not find the Beneficial Funding BBB Rating, we did come across some reviews of the company on Trustpilot. They have a verified account there, and their rating is 4.4.

Beneficial Funding FAQs

How do qualify for Beneficial Funding services?

Before you apply for funding from Beneficial Funding, there are a few things you should know. Your application may undergo an approval process, including a credit history verification, credit score assessment, identity verification, and employment and income verification. Therefore, be sure that all the information in your application is accurate and up-to-date. This will give you the best chance of getting the funding you need.

Are there any pre-payment penalties?

No prepayment penalties apply. You’re free to pay off your loan early without any extra fees.

Does Beneficial Funding affect your credit score?

If you’re considering taking out a loan, you may wonder if doing so will affect your credit score. It’s important to know that getting a free consultation from a lender won’t impact your score.

Unfortunately, if you go ahead with a loan, your lender will do a credit check which can lower your score.

Will Beneficial Funding Hurt My Credit?

Will Beneficial Funding hurt my credit? In most cases, Beneficial Funding’s financing options won’t negatively affect someone’s credit score because these transactions are not reported on credit reports (i.e., they don’t show up on anyone’s record). However, if someone defaults on their payments or fails to follow through with their repayment plan, it could very well reflect adversely on their credit report since lenders aren’t likely to view Beneficial Funding as an ideal means of payment for them in such cases.

Is Beneficial Funding Legit?

Is Beneficial Funding Legit? Our research led us to believe that beneficialfunding.com is a legitimate company. The Better Business Bureau does not accredit them, but they have a verified account on Trustpilot.