Coffee Break Loans is a direct lender that offers personal loans to borrowers with a wide range of credit scores. The company was founded in 2018 and is headquartered in San Francisco, California. Coffee Break Loans has over 100 locations in the United States.

Is Coffee Break Loans Legit?

Yes, Coffee Break Loans is a legitimate lender. The company is licensed in all 50 states and is a member of the Online Lenders Alliance. Coffee Break Loans has a rating of B+ with the Better Business Bureau and a rating of 3.5 out of 5 stars on Trustpilot.

How to Apply for a Coffee Break Loan

To apply for a Coffee Break Loan, borrowers can visit one of the company’s locations or apply online. The application process is simple and takes just a few minutes to complete.

Borrowers will need to provide the following information on their loan application:

• Personal information, such as their name, address, and date of birth
• Employment information, such as their job title and salary
• Financial information, such as their income and debt
• Vehicle information, if applicable

Once the loan application is submitted, a Coffee Break Loans representative will review the application and make a decision within 24 hours. If the loan is approved, the borrower will receive the loan proceeds within 1-2 business days.

Coffee Break Loan Terms

Coffee Break loans have terms of 12, 18, 24, 36, or 60 months. The interest rate on a Coffee Break loan will vary depending on the borrower’s credit score, loan amount, and loan term.

Coffee Break Loan Fees

Coffee Break Loans charges a number of fees, including:

• Origination fee: An origination fee is a percentage of the loan amount that is charged to the borrower when the loan is funded. Coffee Break Loans charges an origination fee of 2% to 6%.
• Late payment fee: A late payment fee is charged to borrowers who make a late payment on their loan. Coffee Break Loans charges a late payment fee of $10.
• Prepayment penalty: A prepayment penalty is charged to borrowers who pay off their loan early. Coffee Break Loans charges a prepayment penalty of 3% of the remaining balance on the loan.

Coffee Break Loan Reviews

Coffee Break Loans has a mixed reputation among borrowers. The company has a rating of B+ with the Better Business Bureau and a rating of 3.5 out of 5 stars on Trustpilot.

Positive reviews of Coffee Break Loans often mention the company’s fast and easy application process, its flexible loan terms, and its competitive interest rates. Negative reviews of Coffee Break Loans often mention the company’s high fees and its lack of customer service.

Overall, Coffee Break Loans is a legitimate lender that offers loans to borrowers with a wide range of credit scores. The company offers a variety of loan terms and competitive interest rates. However, borrowers should be aware of Coffee Break Loans’ high fees and lack of customer service.

Is a Coffee Break Loan Right for You?

Coffee Break loans can be a good option for borrowers who need a quick loan and who have been rejected for a loan from other lenders. However, borrowers should be aware of the high interest rates and fees associated with Coffee Break loans. Coffee Break loans should only be used for short-term financial needs and should be repaid as quickly as possible.

Additional Information

Here is some additional information about Coffee Break Loans:

• The company is accredited by the Better Business Bureau.
• Coffee Break Loans is a member of the Online Lenders Alliance.
• The company has been featured in a number of publications, including Forbes, Entrepreneur, and Inc.

Conclusion

Coffee Break Loans is a legitimate lender that offers loans to borrowers with a wide range of credit scores. The company offers a variety of loan terms and competitive interest rates. However, borrowers should be aware of Coffee Break Loans’ high fees and lack of customer service.

Tips for Getting the Best Deal on a Coffee Break Loan

If you are considering getting a Coffee Break loan, here are a few tips to help you get the best deal:

• Shop around and compare loan offers from multiple lenders before you choose a loan.
• Be prepared to make a down payment. A larger down payment will make you more attractive to lenders and can help you get a lower interest rate.
• Get a cosigner. A cosigner is someone who agrees to repay the loan if you default. Having a cosigner with a good credit score can increase your chances of approval and can help you get a lower interest rate.
• Read the fine print carefully before signing any loan agreement.

Disclaimer

This article is for informational purposes only. It is not financial advice. Please consult with