About Rhode Island Loan

RIloan.com [is not|isn’t} a lender. We don’t fund any loans nor do we assume to. RIloan is an online service that connects our clients with creditable lenders who can fulfill their loan needs.

RIloan is a 100% free service and will not and will never charge you, our consumers a cent for using our free online service. Our intention is to help the citizens navigate the difficult journey of receiving the greatest loan possible.

We offer various
numerous financial services to our customers. We can connect our consumers to a variety of loan companies providing multiple types of loans. RIloan.com help our customers receive personal loans, credit cards, auto loans, education loans, education loan refinancing, debt consolidation and business loans.

People choose RIloan.com because of our countless years of experience in the loan marketplace to guide you through the process of receiving a loan. We have already done the research, built comparison tools and developed a way to simply connect you with an ideal lender for your exact situation.

Receiving a or credit, no matter your credit score or financial situation is simple with RI loan. We have partnered with a large selection of lenders lending to individuals spread across the credit spectrum. We pride ourselves on being able to connect our customers with their perfect lender regardless their current situation.

Getting A Loan

Receiving a loan in Rhode Island is effortless, quick and easy thanks to Rhode Island Loan. The first step‘s to go to our loan page and select the type of loan or credit you’re interested in (loans offered). Then simply select the button to get connected then fill out our loan connection form. We then connect you to loan companies in a matter ofseconds. You then choose the lender of your choice.

Our system will connect you with the perfect lender in seconds, from there, the speed at which loans are funded varies lender by lender.

Simply applying for a loan should not affect your credit score in any major way.

The amount to which you can borrow depends and varies lender by lender. Using our comparison tools you should be able to see the maximum that each lender funds by loan.

About Lenders

Every lender has an established a formula to determine who they lend to and at what rate the loan will be in a process known as underwriting. Lenders will look at many factors including but not limited to your credit history, your current debt-to-income ratio, and your expenses to assess your creditworthiness.

Loan eligibility varies depending on the lender and loan type.  Typically, lenders will look at credit score, current income, employment history, equated monthly installment and repayment history. Thankfully Rhode Island Loan has taken the guess work out of if you will be approved or not because we will match you a lender that will fit your criteria.

Every lender has a different application process, but they are all quite similar. When applying a lender will typically ask you for your name, address and social security number (which is used to run a credit score). This is rarely the case but depending on the loan type and lender you may be asked to show documents like pay stubs, tax returns, transcripts, etc.

Interest rates are determined on perceived risk. Based on the lenders underwriting, they determine the risk of a borrow defaulting when they apply for a loan. The lower the risk, the lower rate offered by the lender. The higher the perceived risk by the lender, the less likely a loan is to be accepted and the higher the interest rates will be.

Apply for a loan does not cost you anything. In fact, you should never have to pay in order to apply for a loan. Rhode Island Loan will not partner with a lender who charges you to apply for a loan and suggests against doing business with such lenders.

About Loans

The APR is the rate of credit that includes all fees, including fees the lender charges you for a loan (ex. origination fees). APR is helpful when comparing different loans because it includes all fees. Interest rate is the amount of money that is charged for borrowing the money. Interest rate does not include the origination fee or any other fees charged by the lender.

A floating rate is a loan whose rate will change after time, usually 1 year. the increase of the rate will be determined by some internal measure, like prime rate. Determining whether your loan is fixed or not is important because when it is not fixed the rate you are paying may increase. The lower rate of a floating loan is often referred to as a “teaser rate”.

Individuals who don’t have a well established credit history, however traditional lenders, such as banks usually do not lend to people to individuals without established credit, you would need to an alternative lender. Rhode Island loan has partnered with many alternative lenders to make sure you get the loan you need.

Secured loans are loans that require some sort of collateral. In the event that a secured loan is defaulted on, that item is repossessed by the lender. This covers the lender in the event of default.

An unsecured loan does not have any collateral tied to it. Because the lender has no collateral on a personal loan, the risk of unsecured loans are higher. That is why unsecured loans typically have higher rates than a secure loan.