Grace Loan Advance Reviews is Safe? Legit? Complaints, Credit Score

Are you looking for Grace Loan Advance reviews, but unsure about the legitimacy and safety? Look no further!

In this blog at ktktld.edu.vn, we will provide you with an honest review, addressing concerns about its safety, legitimacy, and any potential complaints.

Read on to find out all you need to know about this trusted brand.

1. Summary of Grace Loan Advance

✅ Reviews	⭐ Grace Loan Advance
✅ Requirements	⭐ Active checking or savings account
✅ Guide to	⭐ Register for Grace loan Advance
✅ Loan amount	⭐ $1,00 – $35,000
✅ Pros	⭐ Flexible repayment terms
✅ Cons	⭐ Late fees and prepayment penalties
✅ Term	⭐ 2 – 72 months
✅ Phone number	⭐ (424) 317-8925
✅ Effectiveness	⭐ Good
✅ Complants	⭐ No

2. What is Grace Loan Advance loan?

Grace Loan Advance is a company that offers personal loans to borrowers with bad credit. The loans have high APRs and fees, but they do offer a grace period of up to 60 days before payments are due. This can be helpful for borrowers who need some time to get their finances in order.

3. Pros and cons of Grace Loan Advance

Grace Loan Advance customer reviews show that this lender brings its own pros and cons.

Pros

Grace Loan Advance BBB recommends the following benefits:

• Low APRs available to qualified borrowers
• Considers applicants with fair credit
• Funding available within 1 business day
• Flexible repayment terms
• Online application process

Cons

On the other hand, Grace loan advance reviews Reddit point out that the lender offers its borrowers many drawbacks;

• High APRs for borrowers with poor credit
• Late fees and prepayment penalties
• Loan qualification can be challenging
• Not available in all states

4. Grace Loan Advance interest rate

The interest rate for this loan company’s personal loan can range from 5.99% to 35.99% APR, depending on your credit score and other factors. The APR is the annual percentage rate, which includes the interest rate and any fees associated with the loan.

A higher interest rate is probably available to you if you have good credit. However, even borrowers with bad credit may be able to get a its personal loan, albeit with a higher interest rate.

5. Example of Grace Loan Advance calculation

Here is an example of how to calculate this loan:

• Loan amount: $10,000
• Grace period: 30 days
• Interest rate: 8%
• Loan term: 60 months

Step #1: Calculate the monthly interest payment. This is done by multiplying the loan amount by the interest rate and dividing by the number of months in a year.

• Monthly interest payment = (loan amount * interest rate) / (12 months/year)
• Monthly interest payment = (10,000 * 8%) / (12 months/year) = $66,67

Step #2: Calculate the number of days in the grace period.

• Number of days in the period = 30 days

Step #3: Calculate the grace loan. This is done by multiplying the monthly interest payment by the number of days in the period.

• Loan = (monthly interest payment * number of days in the period = (66,67 * 30 days) = $2000,10

In this example, the borrower would receive a loan of  $2000,10. This would be used to cover the interest payments on the loan during the grace period.

After the period ends, the borrower would be responsible for making the regular monthly payments on the loan.

6. Grace Loan Advance personal loan requirements

Grace personal loan requirements are as follows:

• Minimum age: 18 years old
• Active checking or savings account: You must have an active and valid personal checking or savings account in good standing.
• Proof of income: You must provide proof of income, such as recent pay stubs or tax returns.
• Recent bank statements: You must provide recent bank statements to show your financial history.
• Driver’s license: You must provide a valid driver’s license or other government-issued ID.

7. Grace Loan Advance Amounts

Grace advance offers personal loans ranging from $100 to $35,000. Loan amounts start at $100 and go up in $500 increments, so if you’d like to borrow $2,800 you’ll need to take a loan of $3,000.

There is no grace period for its personal loans. This means that you will start accruing interest on your loan immediately, even if you don’t make your first payment for a few weeks or months.

8. Guide to register Grace Loan Advance Step-by-step

Applying for a Grace loan advance is a simple process. You can follow the next instructions:

Step #1: Visit the offical website

• Go to the official website of this lender at: https://www.graceloanadvance.com/.

Step #2: Start your request

• Set your amount which is around $100 and $35,000.
• Next, hit the “Start My Request” button to move forward.

Step #3: Provide your Personal Details

• Fill in your First name, Last name, email, phone number, zip code and your home address in the appropriate fields.
• And then continue to provide other relevant information.

Step #4: Supply your banking details

• Inform your Bank name, routing number and account.
• Then click “Continue” and follow the next prompts on the website to register for this loan.

9. Reviews on Grace Loan Advance

I’m a borrower of Grace Loan Advance and I’m overall happy with the service. The application process was quick and easy, and I was approved for a loan within a few days.

The interest rates are competitive, and I appreciate that there are no prepayment penalties. I also like that I can make payments online or through the mobile app.

One downside is that customer service is not always the best. I’ve had a few instances where I had to call and wait on hold for a long time.

However, overall I’m happy with this loan and would recommend it to others.

You can view the following comments to know what customers think of:

To know whether Grace Loan Advance safe or not, watch the following video:

10. Grace Loan Advance loan repayment

To repay a Grace Advance loan, you can make payments by phone, or by mail.

#1. Phone payment

• Step #1: Call this lender at (424) 317-8925.
• Step #2: Provide the customer service representative with your account number and the amount you want to pay.
• Step #3: Pay by credit card, debit card, or bank account.

#2. Mail payment

• Step #1: Write a check or money order payable to “Grace Loan Advance”.
• Step #2: Include your account number and the amount you are paying.
• Step #3: Mail your payment to PO Box 9077. Chatsworth, CA 91317.

11. Compare Grace Loan Advance to other lending companies

Criteria	Grace Loan Advance	Upstart	SoFi	Prosper
Minimum credit score	300	600	620	640
Loan amount	$1,000 – $35,000	$1,000 – $50,000	$2,000 – $100,000	$2,000 – $40,000
APR	5.99% – 35.99%	6.49% – 35.99%	6.99% – 24.99%	6.99% – 36.00%
Loan term	1 – 72 months	24 – 60 months	24 – 72 months	36 – 60 months
Funding time	1 – 2 business days	2 – 7 business days	1 – 3 business days	1 – 7 business days
Effectiveness	Good for borrowers with bad credit	Good for borrowers with fair credit	Good for borrowers with good credit	Good for borrowers with good credit

Sources: Refer to Sate Bank reporting and research.

12. Grace Loan Advance phone number

To reach out to Grace Loan Advance, you can contact via the following way:

• Contact number: (424) 317-8925
• Address: 4470 W Sunset Blvd, Los Angeles, California 90027
• Email: info@graceloanadvance.com

Read more:

• Cash App Borrow Money
• 500 Dollar Loan
• Online Short Term Loans Direct Lender
• Best Egg Loan
• $1000 quick loan no credit check

13. FAQs

Following the next FAQs about Grace Loan Advance for more details:

Is Grace Loan Advance legit?

This is a legit business that gives personal loans to people with all kinds of credit scores. Grace Loan Advance reviews BBB gave it an A+ grade. But it’s important to know that the company’s fees can be high, so check offers from other lenders before taking out a loan.

Is Grace Loan Advance real?

Many people consider Grace Loan Advance scam but it is a real company that offers personal loans to borrowers in all 50 states. The company was created in 2015 and is headquartered in Los Angeles, California. This lender’s Personal Loans have APRs starting at 5.99% and terms of 1 to 60 months.

Is Grace Loan Advance trustworthy?

This lender is a legitimate company that offers personal loans to borrowers with bad credit. However, there are some Grace Loan Advance complaints about its hidden fees and high-interest rates. Overall, do your research before taking out a loan from this lender or any other company.

14. In Conclusion

Grace Loan Advance has received mixed reviews online, with some borrowers reporting positive experiences and others complaining about high-interest rates and hidden fees.

The Grace Loan Advance credit score requirements vary depending on the amount and term.

In conclusion, this lender is a safe and legit lender, but it is important to carefully read the terms and conditions before applying for a loan.