Can this loan be used for debt consolidation? No, this loan cannot be used for credit card debt consolidation or other loan consolidation purposes. The lender associated with this loan provides a very high interest rate, making it an unfavorable choice for credit card debt consolidation or other types of loan consolidation. It is recommended to explore alternative options that offer lower interest rates and better terms for debt consolidation.
Amplified Funding is a loan company that was established with the sole aim of making borrowing better. The company’s guiding principle is to put the customer’s loan experience first, and this is evident in everything they do, from their customer service to the loan application process. In this article, we’ll provide an overview of Amplified Funding, including the amount they offer, pros and cons of their loan, interest rates, credit score requirements, and how to apply for their loans.
Overview of Amplified Funding
Amplified Funding is a loan company that provides installment loans to first-time customers of up to $1,200. Once you’ve established a good track record with them and have no issues repaying your loan, you may be eligible for a recurring loan of up to $2,500. Amplified Funding’s loan process is fast and easy, and customers can expect to receive their funds as early as the next business day after their application is approved.
Amount They Offer
Amplified Funding offers loans from $100 – $5,000. Also Amplified Funding offers installment loans to first-time customers of up to $1,200. Recurring customers may be eligible for loans of up to $5,000. However, the loan amount you receive, as well as the APR charged, are determined by several factors, including your income, creditworthiness, and how often you receive paychecks.
Pros and Cons of Amplified Funding Loans
Before diving into the loan application process, let’s explore the advantages and disadvantages:
- Amplified Funding considers a customer’s capacity to repay, not just their credit score.
- Applying for a loan is easy, and customers don’t need to visit a physical office.
- Funds are available as early as the next business day after approval.
- There are no prepayment penalties, and customers can repay their loans early to save on interest charges.
- The APR for Amplified Funding loans can be high, with rates of up to 795%.
- Customers in bankruptcy or planning to file for bankruptcy may find it harder to qualify for a loan.
- Customers may be charged late fees if they miss a payment.
Interest Rate of Amplified Funding Loans
The interest rate for Amplified Funding loans can be high, with rates of up to 795%. However, customers may be able to negotiate the APR or find ways to reduce the loan cost. For example, customers can repay their loans early to save on interest charges, as interest is charged daily.
Credit Score Required for Amplified Funding Loans
Amplified Funding does not have strict policies against customers with damaged credit histories or no credit history at all. The company considers a customer’s capacity to repay, which is determined by their income and current monthly obligations. However, a regular income of at least $1,000 per month is required, and customers must be at least 18 years old and US citizens with a checking account. Active military members are not eligible for Amplified Funding loans.
How to Apply for an Amplified Funding Loan
To apply for an Amplified Funding loan, customers need to visit the company’s website and click on the “Apply Now” or “Get Started” button. The application process is fast and easy, and customers don’t need to visit a physical office. Once the application is submitted, a representative will contact the customer with further instructions within minutes.
In conclusion, Amplified Funding is a loan company that provides installment loans to customers who meet the basic eligibility requirements. The company considers a customer’s capacity to repay, not just their credit score, and provides loans that are easy to apply for and offer fast funding. However, the APR for Amplified Funding loans can be high, and customers may be charged late fees if they miss a payment. Overall, Amplified Funding is a good option
Note: This article is for informational purposes only. It does not constitute financial advice. Please consult with a financial professional or loan expert for specific guidance related to your individual circumstances. We won’t be responsible for any financial loss or any kind of loss, please read our disclaimer for more info – Read Here