Looking for a place to get a quick loan to solve for immediate personal needs? Look no further because Coffee Break loans got you covered. With a very easy loan application process and an easy-to-navigate platform, you are just a step away from getting your desired loan amount.
In this article, we are going to explicitly examine everything you need to know about this loan platform including how to apply, its eligibility criteria, benefits, drawbacks, and so on. So, take a cup of your favorite coffee as we take you on an interesting ride.
Life is bound to through some unexpected financial challenges at us sometimes. However, the ability to stand up to them every time they surface makes us superhumans. And one of the ways to do that is by getting loans to immediately solve the problem. Traditional banking might not come in handy here as the loan process takes a long time alongside strict eligibility criteria.
This is where online lending platforms like Coffee Break Loans come in. With this platform, you will get your desired loan amount immediately after you are approved. The approval process is fast and does not have strict eligibility criteria. As you continue reading this article, you will learn how it works as well as every other detail about this.
About Coffee Break Loans
Coffee Break Loans is an online platform that connects borrowers to lenders. In other words, it is not a direct lender; rather, it partners with a chain of lenders who would credit you. Hence its function is that of a middleman in the business. With this platform, you can get between $500 and $5,000 loans easily. It would also interest you to know that this is done at a competitive interest rate.
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It is mainly focused on personal loans however, it can connect you with other types of loans. This platform is interesting because it erases the stress of having to apply to individual lenders whose eligibility criteria can disqualify you. I know you are interested in this already. Let me show you how to apply for it in the next paragraph.
How To Apply For Coffee Break Loans
The application process as we have noted is very easy. All it entails is to visit the website, click on “Apply Now” and enter your personal information as well as the desired loan amount as you will be prompted. You will also enter your SSN, bank account number, address, etc. After that, complete the application by clicking on “Submit”. Coffee Break Loans will go through your information and connect you with the appropriate direct lender.
Note that you will be contacted by several lenders after your information is sent to them. Go through their offers and loan terms to know the one that suits you better before accepting the loan. You might be required to send additional documents to ascertain the originality of your application. The direct lenders might also carry out a hard credit check. When all of these are done, if your loan is approved, you will be credited immediately or the next business day.
Eligibility Criteria For Coffee Break Loans
The eligibility criteria for Coffee Break Loans are very simple hence anyone can easily qualify for a loan here. See them below before you begin your application.
- Applicant must be up to the age of 18 years and above.
- Must be a citizen or a permanent resident of the United States.
- Must be employed for at least 90 days before the application.
- Should have a minimum income of $1,000 monthly after tax has been deducted.
- Must have an active checking bank account.
- A valid email address and phone number.
Is Coffee Break Loans Legit? Coffee Break Loans Reviews
The Coffee Break Loan is a legit loan platform hence it is not a scam. It has been in operation for some years and has proven to do what it claims to do. It has an A+ rating on BBB with many customers commending it for its efficient services.
It has been praised for its easy loan application and fast approval process. However, some customers are not satisfied with its privacy policies as their information is accessed by many lenders after applying on the website.
What Are The Interest Rates Of Coffee Break Loans?
It is stated on the website of Coffee Break Loans that the maximum interest rate is 35.99%. However, the interest rate, amount, and loan terms are determined by the direct lenders. Hence, the actual rate depends on your credit history and income. Direct Lenders might also charge origination fees, late payment fees, and other hidden charges.
Pros And Cons Of Coffee Break Loans
The following are some of the advantages and disadvantages of the Coffee Break Loans. They have been summarized into pros and cons respectively.
Pros
- Opens you up to many lenders thereby removing the stress of applying differently
- Easy loan application process
- Transparent loan terms
- Quick loan approval
- No hard credit check
- Gives loan seekers access to dialogue with direct lenders.
- Funds are disbursed directly to your bank accounts.
- Competitive interest rates.
- Easy eligibility criteria
Cons
- Availability of hidden charges
- Late payment fees apply
- It sells your information to partnering lenders and marketers.
- Has no social media presence
Is My Information Safe With Coffee Break Loans?
Yes, Coffee Break Loan is safe as its website uses an extended SSL certificate and 2048-bit encryption to make sure your information is protected. However, all partnering lenders, lenders network, and marketing partners have access to your details. Nonetheless, you can limit the sharing of your personal data by sending an email to support@coffeeBreakLoans.com. This is easier for those in California as you can simply opt-out on the website.
Conclusion
Coffee Break Loans make it easy to access loans urgently for personal and business purposes. It is not a direct lender but partners with a chain of lenders to attend to your immediate financial needs. We have shown you all that it entails including its loan terms, maximum amount, how to apply, pros, and cons, etc. it is important to note that this platform does not have a social media presence but has been confirmed to be legitimate. However, ensure the safety of your funds by going through the terms of every loan before accepting it.