CocoLoan Review: Get Payday Loans Online Instantly


CocoLoan Review: Get Payday Loans Online Instantly: If you need a loan service provider that can help you secure a payday loan in a hurry, then CocoLoan is a great option to consider, as their lending network is open to providing funding to anyone that is in urgent need of money but is unable to meet the requirements for a typical loan.

CocoLoan ReviewAnd the reason why you should obtain payday loans from CocoLoan is that they come with lower interest rates than most other lending services in the industry. Aside from that, they offer one of the most user-friendly interfaces, as it only takes a few minutes to fill out an online application form and get a decision on whether you have been approved for a loan or not.

Borrowers can access payday loans that range between $50 and $5,000 and come with repayment periods that range from 3 to 36 months. Once submitted, the lenders in their network will then make you a loan proposal depending on your credit history, as well as your capacity to pay.

How Much Fees Do They Charge?

Since CocoLoan is a credit broker and not a direct lender, it is difficult to estimate what fees you can expect when you apply for a loan. This also means that you will not be charged any fee for being partnered with a lender, as the service is completely free for all borrowers to use. However, how much interest you are charged will also depend on your level of creditworthiness, but the average APR that you can expect typically ranges between 5.99% and 35.99%.

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What Makes CocoLoan So Different From Other Lending Sites?

It is worth highlighting the fact that CocoLoan is an extremely transparent lending service, as its website comes loaded with a rich amount of information on how the service works, how to apply for payday loans, what to expect, and more. They also provide borrowers with a reliable customer service team that is available to answer their questions, should they need clarification on anything regarding the lending process.

Also, given that the entire service is free, you can rest assured that the company will not charge you any hidden fees, either. Plus, the platform makes it extremely easy to compare and review multiple loan offers from different lenders, which in turn ensures that you are able to make a well-informed decision before committing to any loan product offered by their lending network.

They also offer a high rate of accessibility to borrowers, which makes them a better option than most other lending companies that would unfairly exclude you just for having a low credit score. Additionally, the vast majority of direct lenders within their network only conduct soft credit checks, which do not negatively affect your credit score, unlike the hard credit checks conducted by traditional lenders.

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However, the downside of working with CocoLoan’s lenders is that they don’t typically offer much flexibility, especially when it comes to the repayment of payday loans. For this reason, you should always set up autopay with the lender you are matched with in order to make sure that you don’t end up missing a payment.

What Are The Pros and Cons Of Using CocoLoan?


  • No charges: CocoLoan does not charge its users any fees for matching them up with lenders.
  • Fast Processing Speed: The service ensures that your loan application is reviewed almost instantly and all approved funds are deposited within 24 hours, making them an ideal option for those in an emergency situation.
  • No Credit Limit: It doesn’t matter what your credit score is, as lenders are open to accepting applications from borrowers of all credit types.


  • Has High APRs: The lower your credit score, the higher the APRs you qualify for will be, which means spending more money for your repayment term.
  • Short Repayment Periods: You will usually need to repay the entirety of your payday loan by the time your next paycheck arrives, which means that there is no room to miss a payment or adjust the due date.
  • Low Loan Limits: There is a limit as to how much money you can borrow with CocoLoan, with the maximum payday loan amount set at $5,000.
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Is CocoLoan Worth It?

CocoLoan has ties to several direct lenders, and with a stellar reputation, it is a good choice for those looking for a safe way to borrow money with bad credit. Plus, all the lenders in their network are vetted, which means that you don’t have to worry about falling victim to any unscrupulous lending practices.

However, it is important to keep in mind that payday loans should only be used to deal with emergency situations, as having a bad credit score would mean dealing with high APRs. In this respect, you should always make sure to review the lender’s offer and terms in detail in order to ensure that you can actually afford to accept the loan before e-signing the agreement.


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