At Sun Loan, they understand that sometimes life can throw you a curveball. That’s why they offer installment loans for different purposes, like debt consolidation, bad credit loans, and more. The company advertises its services at sunloan.com
Sun Loan Summary
When considering taking out a personal loan, be sure to compare multiple lenders. There are many options available and each has its own advantages and disadvantages. Doing your research ahead of time can help you choose the best lender for your needs.
One option that has recently been getting attention is Sun Loan. But is this lender the best choice for you? Here is a closer look at what they offer so you can make an informed decision.
We did some research into their website and terms and conditions and found some interesting facts. Here are a few that we thought were noteworthy.
- APRs range between 55.56% and 210.78%
- Loan amounts vary by state – you can borrow up to $7,500
- It offers loan terms between 3 to 36 months.
- Loans are available in 7 states (Texas, Nevada, New Mexico, Oklahoma, Illinois and Missouri)
You can check their licenses and disclosures here.
What is Sun Loan?
Sun Loan has been helping people with personal installment loans of all sizes since 1993. They’re headquartered in San Antonio, Texas, and you can reach them anytime at (844) 786-5626.
Sun Loan Company does have a D rating from the BBB, it’s also important to note that they are not accredited by the BBB. Additionally, this company has a 1.5-star rating out of 5 stars from customer reviews. On average, they receive 8 customer reviews and 28 complaints closed in the last 3 years.
How does Sun Loan work?
You can apply for a loan from Sun Loan online, in-branch, or over the phone. Their installment loans are a great way to get the money you need now and pay it back over time in affordable monthly payments.
Individuals who are eligible for a loan may receive the funds in the form of a check or bank deposit. The loan is given in one lump sum and then typically repaid by the borrower in smaller installments, which include an additional fee called an interest rate. The repayment schedule for a loan and the amount due every month depending on the conditions of the loan and the amount borrowed.
How to qualify for Sun Loan?
When it comes to personal loans, each company has its own qualifying criteria. But Sun Loan believes that a person’s ability to repay should be the main factor in deciding whether to approve a loan. They take into account things like income, residency, and past repayment history when making our decision.
Sun Loan BBB Reviews
The Better Business Bureau (BBB) has given the Sun Loan Company a D rating, and it is important to note that the company is not accredited by the BBB. Additionally, customers have given Sun Loan Company a 1.5-star rating out of 5 stars. On average, they receive 8 customer reviews and 28 complaints closed in the last 3 years.
Here are some reviews:
Celeste G 10/18/2022
Deanna M 10/05/2022
Pat J 08/27/2022
Michael W 06/18/2022
Sun Loan FAQs
How much does Sun Loan charge?
The amount you can borrow from Sun Loan and the interest rate you pay will be determined by your creditworthiness. Generally, their customers can borrow up to $7,500 with an APR between 55.56% and 210.78% and loan terms from 3 to 36 months.
Are there any pre-payment penalties?
Sun Loan offers loans with no prepayment penalties, so you can pay off your loan faster than originally scheduled without any extra fees.
How does Sun Loan affect your credit?
When considering taking out a loan, it’s crucial to comprehend the process and what sort of effect it may have on your credit rating.
Many lenders will do a soft credit check at first in order to give you an idea of the interest rates and loan terms you could qualify for. This won’t have any impact on your credit score.
However, once you move forward with the loan application, the lender will need to do a hard credit inquiry to get a complete view of your credit history and offer you final rates. These hard inquiries will lower your credit score.
How to cancel Sun Loan?
When you are considering a personal loan, be sure that you are confident in your decision. Once the funds have been dispersed into your account, you will not be able to reverse or cancel the transaction. This way, you can avoid any cancellations or changes down the line.
Are you struggling to make ends meet? Don’t worry, you’re not alone. Here are some tips to help you get back on track.
There are a few key things you can do to get your finances in order.
- Creating and sticking to a budget is a great place to start. This will help you become more mindful of your spending and make better decisions overall.
- Another helpful step is to speak with a financial advisor. They can help you understand all of your options and develop a plan that is tailored to your unique circumstances.
- And finally, don’t worry too much about debt. Many companies are willing to work with customers to create a more manageable payment plan. So reach out to their customer service team for more information.
Is Sun Loan legit or a scam?
Sun Loan has been in the business of personal loans since 1993. They offer quick cash to customers in need but have a poor track record with the Better Business Bureau. In fact, they only have 1.5 stars out of 5 from customer reviews. This means that most people who have used their services have had negative experiences.
There are a lot of different reasons why people might take out a loan. Some people need to borrow money to buy a car or a house. Other people might use a loan to pay for medical bills or college tuition. Whatever the reason, it’s important to do your research and compare rates from different lenders before you decide to take out a loan. This way, you can make sure you’re getting the best deal possible and avoid taking out a loan that you can’t afford.
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Thank you for reading!
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Sun Loan Review
Sun Loan Review
Sun Loan has been in the business of personal loans since 1993. They offer quick cash to customers in need but have a poor track record with the Better Business Bureau. In fact, they only have 1.5 stars out of 5 from customer reviews. This means that most people who have used their services have had negative experiences.
