247 Lending Group Review24/7 Lending Group is one of the many loan service websites that offer loans processed and approved through the Internet. It claims to offer fast and reliable online financing.
The company has been in business since 2001 so it certainly isn’t one of those fly-by-night companies that would want to scam people. Still, is the company really reliable? Does it provide good customer service? Does it meet legal lending standards or rules? These and more are to be discussed in this review of the company. This article examines the dependability and service quality of 24/7 Lending Group as it provides personal loans for all credit types.
What Does 24/7 Lending Group Offer?
First of all, it is important to emphasize that 24/7 Lending Group is just a website that facilitates access to loan services. While the site claims to offer loans of up to $35,000 without the need for credit checks, it is actually not offering any loan service. It only directs applicants to lenders that match their needs. The site helps borrowers in availing of loans for credit types and situations. There are also quick loans that can be processed within a day. The site also mentions that loan application forms can be submitted 24/7. Loan applicants should not be confused by these statements on the website’s homepage. The site only facilitates loan applications but does not offer loan services.
Who Can Take Out Loans Through the Site?
Although 24/7 Lending Group does not offer loans as a lending company, it properly orients prospective loan applicants about the qualifications they should have to be able to avail of loans through the site. These requirements are detailed in the Frequently Asked Questions section of the site. The basic requirement is having a regular source of income. An applicant does not have to be employed to qualify for a loan. As long as the applicant has a regular source of income, an application can be considered. A bank account may also be needed for the loaned amount to be sent to the approved applicant.
Steps in Applying for a Loan
Just like other similar loan sites, 24/7 Lending Group also features an “Apply Now” button that links to a preliminary loan application page. This preliminary loan application page is an online form that asks a loan applicant to input certain personal and loan-related information that will be used to match the applicant to a suitable lender. The form comes with a McAfee SECURE seal so it should provide some adequate level of security. The online form requires a credit score. If an applicant does not have a credit score, there is a link to a page where a credit score may be obtained. After the form is completed, the loan applicant will be asked to wait for an email from a possible lender interested in extending a loan.
These steps are not similar to others that immediately direct an applicant to a lender’s website or present a list of choices. There are those who might be apprehensive about this setup because they have no idea who the possible lender will be and when is the lender going to send an email. Also, the email the lender will send might be sent to the spam inbox. Nevertheless, everything can be done quickly and the steps are quite straightforward.
Pros and Cons
The 24/7 Lending Group website can be useful for those who are desperate in finding a good loan option. Everything is clearly and intuitively presented. There are answers to frequently asked customer questions. The site also features borrowing tips, user testimonials, and a personal loan calculator. The site also lists clear contact details and social media links, showing good faith and an indication of reliability. However, it would have been better if they reworded the first part of the text on their website. The introductory texts make it appear that the site offers loan services or at least brokers loan transactions, when it does not. The small black texts at the bottom of the site seem too unnoticeable to clarify the site’s real purpose to users.
Those who are looking for loans can use the 24/7 Lending Group website and wait for a possible lender to contact them. This is not an ideal setup of getting a loan but it works well enough. It’s just important to check the spam inbox occasionally since some lenders’ emails may be classified as spam by some email spam filters.