True American Loan: A Comprehensive Guide

True American Loan 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 Oklahoma City, Oklahoma.

True American Loan Products

True American Loan offers a variety of personal loan products, including:

• Signature Loans: Signature loans are unsecured loans that do not require collateral. True American Loan offers signature loans from $500 to $35,000.
• Secured Loans: Secured loans are backed by collateral, such as a car or home. True American Loan offers secured loans from $500 to $75,000.
• Debt Consolidation Loans: Debt consolidation loans can be used to consolidate multiple debts into a single loan with a lower interest rate. True American Loan offers debt consolidation loans from $500 to $35,000.

True American Loan Requirements

To qualify for a True American Loan, borrowers must meet the following requirements:

• Be at least 18 years old
• Have a valid Social Security number
• Be a U.S. citizen or permanent resident
• Have a verifiable source of income
• Have a valid bank account

True American Loan does not have a minimum credit score requirement, but borrowers with higher credit scores are more likely to qualify for a loan with a lower interest rate.

How to Apply for a True American Loan

To apply for a True American Loan, borrowers can visit the company’s website or contact a loan officer by phone. 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

Once the loan application is submitted, True American Loan 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.

True American Loan Terms

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

True American Loan Fees

True American Loan 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. True American Loan 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. True American Loan charges a late payment fee of $10.
• Prepayment penalty: A prepayment penalty is charged to borrowers who pay off their loan early. True American Loan charges a prepayment penalty of 3% of the remaining balance on the loan.

True American Loan Reviews

True American Loan has a positive reputation among borrowers. The company has a rating of A+ with the Better Business Bureau and a rating of 4.7 out of 5 stars on Trustpilot.

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

Overall, True American Loan is a reputable personal loan lender that offers loans to borrowers with a wide range of credit scores. The company offers a variety of loan products, including signature loans, secured loans, and debt consolidation loans. Borrowers who are considering a True American loan should be aware of the company’s high fees and lack of customer service. However, True American Loan can be a good option for borrowers who need a loan quickly and who have been rejected for a loan from other lenders.

Additional Information

Here is some additional information about True American Loan:

• The company is licensed in all 50 states.
• True American Loan is a member of the National Association of Consumer Finance Companies.
• The company has been featured in a number of publications, including Forbes, Entrepreneur, and Inc.

Conclusion

True American Loan is a personal loan lender that offers loans to borrowers with a wide range of credit scores. The company offers a variety of loan products, including signature loans, secured loans, and debt consolidation loans. Borrowers who are considering a True American loan should be aware of the company’s high fees and lack of customer service. However, True American Loan can be a good option for borrowers who need a loan quickly and who have been rejected for a loan from other lenders.