Zippyloan Personal Loan Review

If you’ve struggled to find the right personal loan, Zippyloan might be able to help. Zippyloan provides an online marketplace where borrowers can find a loan based on their financial situation. Be aware that some Zippyloan offers come in the form of personal loans, with short terms and high interest rates. That being said, this lender marketplace might be an option for someone who has struggled to find a loan elsewhere. When we compare personal loan companies, we use our in-house, evidence-based SimpleScore methodology to consider factors such as interest rates, loan size, customer satisfaction, support, and fees.

Best for small loan amounts – Zippyloan

Zippyloan is like a matchmaker, connecting you with the right lender for your needs.

APR Range
Varies
Loan Amount
$100–$15,000
Term
Up to 5 years
SimpleScore
N/A / 5.0
close
SimpleScore Zippyloan N/A
Rates N/A
Loan Size N/A
Customer Satisfaction N/A
Support N/A
Fees N/A
  • Loans as low as $100
  • Personal loans for poor credit
  • Loans aren’t through Zippyloan
  • High interest rates
  • Poor customer satisfaction
Zippyloan Disclosure

Due to the nature of Zippyloan’s products, we are unable to fully evaluate the brand against our personal loan SimpleScore methodology, so it has not been assigned a score.

Check Your Personal Loan Rates

Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

Get Started

with our trusted partners at Bankrate.com

In this article

    Zippyloan personal loans at a glance

    APRVaries by lender
    Eligibility requirementsNone
    Best forSmall loan amounts under $15,000
    Not forGood credit borrowers or borrowers who want the best interest rate
    Customer ServiceNo contact information available, FAQ page available only

    What we like about Zippyloan

    Loans as low as $100

    People who need to borrow just a small amount of money often struggle to find a lender who will work with them. After all, lenders might not see it as worth the time to lend just a few hundred dollars. Zippyloan partners with lenders that offer loans as low as $100. As a result, people who need just a small amount of money to cover an unexpected emergency or catch up on bills can get the money they need.

    Personal loans for bad credit

    People with bad credit often have a difficult time finding an unsecured personal loan to help them consolidate debt, cover an unexpected emergency or cover any other type of financial burden. Zippyloan believes that everyone should have access to loans, even when their credit isn’t exactly stellar. The company helps borrowers with bad credit to find lenders willing to work with them.

    [ Read: Pros and Cons of Taking Out a Personal Loan ]

    Things to consider

    Loans aren’t through Zippyloan

    Zippyloan isn’t a personal loan lender. Instead, the company is an online marketplace that matches prospective borrowers with personal loan lenders. On one hand, this could mean you have more options available to you. But it also means that Zippyloan doesn’t provide customer service on the loans you borrow, and it doesn’t answer for poor service or bad loan terms from lenders.

    High interest rates

    When you get a personal loan through Zippyloan, the company isn’t the one actually lending you the money. Instead, they help to match you with other lenders. As a result, Zippyloan can’t control the exact interest rate you’ll be offered. That being said, some Zippyloan personal loans partners can often be considered payday lenders and may come with particularly high interest rates.

    Poor customer satisfaction

    There isn’t much information available online when it comes to Zippyloan’s customer satisfaction. Unfortunately, the company has an F rating from the Better Business Bureau, with an average customer rating of 1 out of 5 stars. As a result, you might be best served by looking into alternative options before applying for a loan with Zippyloan.

    [ Next: How Personal Loans Work ]

    Zippyloan personal loans vs. the competition

    Best for flexible lending – PersonalLoans.com

    PersonalLoans.com is an online marketplace connecting borrowers and lenders.

    APR Range
    5.99%–35.99%
    Loan Amount
    $500–$35K
    Term
    90 days–72 months
    SimpleScore
    3.8 / 5.0
    close
    SimpleScore PersonalLoans.com 3.8
    Rates 2
    Loan Size 5
    Customer Satisfaction N/A
    Support 3
    Fees 5

    Borrowers can get a personal loan through the PersonalLoans.com marketplace for anywhere from $500 to $35,000. PersonalLoans.com offers short-term loans for just 90 days, though it also offers terms of up to 72 months. PersonalLoans.com doesn’t directly decide the interest rate you can get, but it generally connects borrowers to lenders with rates ranging from 5.99% to 35.99%. PersonalLoans.com doesn’t directly charge any fees, but borrowers might pay fees to the specific lender they end up with.

    Best for bad credit – BadCreditLoans.com

    Bad credit? You’re not out of luck — BadCreditLoans facilitates personal loans specifically designed for those with bad credit.

    APR Range
    5.99%–35.99%
    Loan Amount
    $500–$5K
    Term
    3–36 months
    SimpleScore
    3 / 5.0
    close
    SimpleScore BadCreditLoans.com 3
    Rates 3
    Loan Size 1
    Customer Satisfaction N/A
    Support 3
    Fees 5

    If you’ve struggled to get a personal loan because of a bad credit score, BadCreditLoans may be able to help. The company is an online marketplace that helps to connect lenders with borrowers with poor credit. Specific loan terms will depend on the lender that BadCreditLoan matches you with. But depending on your credit, you may get a loan for rates as low as 5.99% lasting from anywhere from 90 days to six years. It’s worth noting that while you can get a larger loan through BadCreditLoans, it often limits loans for borrowers with bad credit to $1,500 or less.

    Best peer-to-peer marketplace – Peerform

    Peerform is a peer-to-peer lending platform offering personal loans from individual investors.

    APR Range
    5.99%–29.99%
    Loan Amount
    $4K–$25K
    Term
    Up to 3 years
    SimpleScore
    2.8 / 5.0
    close
    SimpleScore Peerform 2.8
    Rates 4
    Loan Size 3
    Customer Satisfaction N/A
    Support 3
    Fees 1

    Like Zippyloan, Peerform helps to connect borrowers and lenders. But with Peerform, individuals and institutions can join the marketplace as a lender, using the loans as an investment opportunity. Peerform offers fixed loan rates ranging from 5.99% to 29.99%. Peerform terms go as high as five years, though the company notes that those opting for a five-year loan term can expect to pay a higher interest rate. One big downside of Peerform is that loans come with origination fees, which you can avoid through many other lenders.

    How much does a Zippyloan personal loan cost?

    It’s impossible to know ahead of time how much your Zippyloan personal loan will cost. Because Zippyloan is a third-party marketplace and not a lender, it can’t publish rates and fees on its website. That being said, here are a few costs you may expect to incur:

    • Interest: Regardless of your lender, you’ll pay interest on your personal loan. The lender you borrow from and your credit score will largely determine your interest rate.
    • Origination fee: Many lenders charge origination fees on loans, ranging anywhere from 1% to as high as 8%.
    • Late payment fee: Most financial institutions charge a fee when you make a late payment on a loan. Some online lenders no longer charge these fees.
    • Prepayment penalty: While they aren’t super common, some lenders charge a fee to borrowers who pay off their loans early.

    [ Read: Secured Personal Loans vs. Unsecured Personal Loans ]

    Check Your Personal Loan Rates

    Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

    Get Started

    with our trusted partners at Bankrate.com

    Cheaper alternatives to Zippyloan personal loans

    Zippyloan connects borrowers to many different lenders, so it’s impossible to know exactly how much your loan will cost. That being said, Zippyloan personal loans are often payday loans, meaning they’re short-term loans with extremely high interest rates. As a result, they may not be the best choice for many borrowers.

    Depending on your credit score, there may be far better deals available to you. Lenders such as SoFi and LightStream offer personal loans at low interest rates and with no origination fees.

    Methodology

    SimpleScore

    The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.

    For every review, our editorial team:

    • Identifies five measurable aspects to compare across each brand
    • Determines the rating criteria for each aspect score
    • Averages the five aspect scores to produce a single SimpleScore

    Here’s a breakdown of the five aspect scores and their rating criteria for our review of the best personal loans of 2020.

    Why do some brands have different SimpleScores on different pages?

    To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

    However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare NetCredit’s personal loans according to our criteria for the best personal loans, it scores a 2.3 out of 5. But when we compare NetCredit according to the criteria for the best bad credit personal loans, it scores considerably higher, since the criteria for the latter review are more lenient (lenders who serve borrowers with bad credit will always offer higher rates, so we needed to adjust our category methodology to account for different industry standards).

    Questions about our methodology?

    Email Hayley Armstrong at hayley@thesimpledollar.com.

    Rates

    We looked at the maximum APR for each lender — the lower their maximum rate, the higher their score.

    Loan Size

    We awarded higher scores to lenders with more generous loan sizes.

    Customer Satisfaction

    We leveraged the J.D. Power 2019 Personal Loan Satisfaction Study℠ to see how customers rated their experience with each lender. (If a lender wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

    Support

    We awarded higher scores to lenders with the most channels for customer support.

    Fees

    We looked at the three most common fees — origination, late payment, and pre-payment — and penalized lenders for each fee charged.

    Reviewed by

    • Courtney Mihocik
      Courtney Mihocik
      Loans Editor

      Courtney Mihocik is an editor at The Simple Dollar who specializes in personal loans, student loans, auto loans, and debt consolidation loans. She is a former writer and contributing editor to Interest.com, PersonalLoans.org, and elsewhere.