Jora Credit Installment Loan Review

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Written By

Updated on Thursday, September 26, 2019

Jora
APR

170.00%
To
349.00%

Credit Req.

Not Specified

Terms

8 to 30

months

Origination Fee

Not specified

See Offers Secured

on Jora’s secure website

Jora Credit installment loan details

Terms

Fees and penalties

  • Terms: 8 to 30 months for its installment loan
  • APR: 170.00% to 349.00%
  • Loan amounts: $500 to $2,600
  • Time to funding: Same day or next business day.
  • Credit check: Soft Pulll
  • Origination fee: Not specified
  • Prepayment fee: None
  • Late payment fee: Not specified

Eligibility requirements

  • Minimum credit score: Not Specified.
  • Minimum credit history: Must have job or proven source of income.
  • Maximum debt-to-income ratio: Not specified.

In order to qualify for a Jora Credit installment loan, you must be 18 years of age (19 if you reside in Alabama) and have a job or other verifiable source of income. You must also have a valid email address and an active checking account.

Jora Credit does not offer loans in all states. In order to apply, you must be a resident of one of the following states:

Alabama

New Mexico

California

North Dakota

Delaware

South Carolina

Idaho

Utah

Missouri

Wisconsin

Jora Credit serves high-risk borrowers who may have difficulty qualifying for loans from more traditional sources. Thus, you do not necessarily need a long credit history or good credit score to qualify for a loan.

Applying for an installment loan from Jora Credit

  1. Visit Jora’s website to begin the application process: You can apply via your computer, tablet or mobile phone.
  2. Complete the online application to learn how much loan you can qualify for: You will need to submit personal information, including your name, mailing address, phone number, email, date of birth, driver’s license number, job and income history and supporting documentation.
  3. If approved for a loan, you can obtain funding the same or next business day: If you accept an offered loan by 10:30 a.m. Central time, you can receive electronic funding the same day.
  4. Take advantage of Jora’s wide array of online tools and resources: Jora Credit can help you learn how to improve your credit, boost your income earning potential, find jobs and plan career moves.
Pros and cons of a Jora Credit installment loan

Pros:

Cons:

  • Quick funding: If approved for a loan, you may receive funds electronically on the same day.
  • No prepayment fees: Pay your loan off early without penalty.
  • Bad or no credit is okay: Jora Credit serves credit-impaired borrowers where other lenders might not.
  • High APRs: APRs range from 170.00% to 349.00%, a high cost for borrowing.
  • Small loan amounts: You can’t borrow more than $2,600.
  • Limited service area: Jora Credit only serves borrowers in a handful of states.

Who’s the best fit for a Jora installment loan?

Jora Credit installment loans are designed for high-risk borrowers with poor credit or no credit history who have difficulty accessing loans from traditional lenders. With quick funding for approved loans, Jora Credit can be a good option if you have an emergency expense and are strapped for cash.

Because Jora Credit’s interest rates are so high, borrowers should try to pay their loan off early. Jora Credit installment loans are not the best option for borrowers with good credit scores and solid job or income histories. Instead, you might consider one of these options.

Jora Credit consumer reviews

Jora Credit is not accredited with the Better Business Bureau. And as of September 2019, Jora Credit only has one customer review on LendingTree, but it did give the emergency installment lender 4 out of 5 stars. “The whole loan process was fast and easy,” wrote Carl from Lamar, Mo. “Very straight forward about the application process and bank verification. Thank you Jora for your help.”

It’s important to keep in mind, however, that as an emergency lender serving mainly high-risk borrowers, Jora Credit’s interest rates are extremely high. You should shop lenders to ensure that you’re getting your best deal – and take fees into account.

Read all customer reviews

Alternative loan options

LendingClub

APR

10.68%
To
35.89%

Credit Req.

Not specified

Terms

36 or 60

months

Origination Fee

2.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More

LendingClub is a peer-to-peer lending platform. Through the platform, borrowers are paired with and receive funds from individual or institutional investors. Interest rates start competitively low but can be as high as 35.89% APR. You can borrow from $1,000 to $40,000, making this a flexible option for borrowers.

In order to qualify for the lowest rate, however, you will need excellent credit. Luckily, you can check potential rates and terms without a hard credit inquiry.

Discover Personal Loans

Discover Bank
APR

6.99%
To
24.99%

Credit Req.

Not specified

Terms

36 to 84

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Discover is a financial services firm that offers credit cards, deposit accounts and personal loans. ... Read More


The APR ranges from 6.99% to 24.99% APR based on creditworthiness at time of application. Loans up to $35,000. Fast & Easy Process. Terms are 36 to 84 months. No prepayment penalty. This is not a firm offer of credit. Any results displayed are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For example, for a $15,000 loan with an APR of 10.99% and 60 month term, the estimated monthly payment would be $326. The estimated total cost of the loan in this example would be $19,560.

An option for borrowers in need of higher loan amounts, Discover lends as little as $35,000. Discover also has no fees or closing costs associated with its personal loans, and all of its loan specialists are U.S.-based.

You can often obtain loan approval the same day you apply with Discover, and time to funding ranges from one to 7 business days. Discover loans do require a maximum debt-to-income ratio of 43%. You must also be gainfully employed and/or be able to demonstrate an annual household income of at least $25,000.

RISE

APR

50.00%
To
299.00%

Credit Req.

500

Minimum Credit Score

Terms

4 to 26

months

Origination Fee

No origination fees

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

RISE is offered only to residents in states where permitted by law. To obtain credit, you must apply online and have a valid checking account and email address. Approval for credit and the amount for which you may be approved are subject to minimum income requirements and vary by state.


Notice to Texas and Ohio Customers: In Texas and Ohio, RISE is a Credit Services Organization/Credit Access Business operating in accordance with each state’s applicable Credit Services Organization Act. In Ohio, RISE Credit Service of Ohio, LLC d/b/a RISE is licensed by the Department of Commerce, Division of Financial Institutions Certificate No. CS.900086.000. In Texas, RISE Credit Service of Texas, LLC d/b/a RISE is licensed by the Office of the Consumer Credit Commissioner, License No. 16507-62536. RISE is not the lender or a fiduciary of the lender. Application approvals and the amount of any credit for which you may be approved are subject to minimum income requirements and vary by state.

RISE is a personal loan option for borrowers who have poor credit or little-to-no credit history and need quick funding. You can gain loan approval within only a few seconds of submitting your application and may receive funds as soon as the next business day.

Like Jora, RISE also works to educate borrowers and offers a Free Credit Score Plus tools to help borrowers get back on track financially. And, RISE rewards those who demonstrate on-schedule loan payments with lowered interest rates over time.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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