• Author: The Loans.pro
  • Date: July 2 2024

Our 7 Top Picks for Loans Like Viva Finance

Finding the right loan can be difficult, especially if you have bad credit or special financial needs. Viva Finance offers personal loans up to $10,000, focusing on business status over credit score. However, it is important to look for options that will provide you with better rates or steps that will suit your needs. Here are seven options available to Viva Finance, each addressing a specific situation.

Alternative for Bad Credit: OneMain Financial

OneMain Financial is ideal for bad borrowers. It offers both secured and unsecured loans without a minimum credit score. With loan sizes ranging from $1,500 to $20,000, borrowers can get instant financing the same day. However, the APR starts at 18% and an origination fee is charged.

Pros:

  • A minimum credit score is not required
  • Options for secured loans and cosigners
  • Immediate funding

Cons:

  • High first rate APR of 18%.
  • Origination fees on all loans
  • Limited availability in some countries

Alternative for Fair Credit: Achieve

Achieve, formerly known as FreedomPlus, accepts credit scores as low as 620, making it suitable for qualified borrowers. Offers joint applications and discounted rates for consolidation loans. Loans range from $1,000 to $100,000 with APRs starting at 8.99%.

Pros:

  • Low starting APR of 8.99% .
  • Rate discounts for joint applications
  • Cost consolidation Immediate funding

Cons:

  • You charge an origination fee
  • There are no personal exemptions

Alternative for Good Credit: LightStream

LightStream, a division of Truist Bank, is perfect for borrowers with good to excellent credit. It offers competitive pricing, no origination fees and automatic payment discounts. Loans range from $5,000 to $100,000, with APRs starting at 7.49%.

Pros:

  • There is no origination fee
  • Competitive rates and self-pay discounts
  • There are long loan periods

Cons:

  • There is no pre-approval process
  • Good to excellent credit is required
  • Limited customer service options

Alternative for New College Graduates: Upstart

Upstart is ideal for recent college graduates who may not have an extensive credit history. It considers education and work history for loan approval. Loans range from $1,000 to $50,000, with APRs starting at 6.76%.

Pros:

  • Considers education and employment for approval
  • There is no prepayment penalty
  • Immediate funding

Cons:

  • They charge origination fees
  • A higher APR for a lower credit score

Alternative for Comparing Loans: Fiona

Fiona is a networking service matching borrowers with lenders. It also offers personal and credit union loans, making it a great option for those with poor credit. Loans range from $1,000 to $100,000, with APRs starting at 5.40%.

Pros:

  • Free service with soft credit checks
  • Wide many loan options
  • A high BBB is the level of use

Cons:

  • It is not a direct lender
  • He gives information to other people
  • Origination fees may apply

Alternative for No Credit Check Loans: OppLoans

OppLoans offers no-fee loans, making it easier for those with poor credit. Loans range from $500 to $4,000, but the APR can be as high as 160%.

Pros:

  • No credit check is required
  • Reporting to major credit bureaus
  • It is available in most states

Cons:

  • High APR
  • Must have an active bank account
  • Short-term loans

Alternative for Cash Advances: MoneyLion

MoneyLion offers small cash advances of up to $500 (or $1,000 on a MoneyLion account) with no fees or interest. Suitable for those who need money quickly until payday.

Pros:

  • No fees or interest are charged
  • No credit check is required
  • Making quick money

Cons:

  • Lower loan rates
  • Immediate delivery charges
  • Investments should be managed directly

How Does Viva Finance Compare?

Viva Finance offers personal loans of up to $10,000 based on business status rather than credit score. While this option can be beneficial for those with poor credit, there are limitations to the amount owed and the transparency.

Pros:

  • Loans up to $10,000
  • Work based on consent
  • Easy payment terms

Cons:

  • Increased interest rates
  • Income-based fixed income loan
  • Lack of exposure

Alternatives to Cash Advances and Installment Loans

If you want to avoid credit and debt, consider these options:

Wages paid before employer leaves

Some employers offer bonuses, which allow you to receive a portion of your earned wages before the high payday costs associated with payday loans.

Loans from Community Development Finance Institutions (CDFIs).

CDFIs offer small-dollar loans at low interest rates. However, a minimum credit score of 640 is generally required.

Talk to your creditors

Contact your lenders to negotiate lower interest rates and extended repayment terms. This helps you manage your expenses without having to incur additional expenses.

While Viva Finance offers an easy option for those with business approval needs, exploring options can help you find the best rates and terms that fit your financial situation MoneyLion for cash advances fast from OneMain Financial for bad loans. There are a number of options available to meet your needs. Consider your credit rating, loan amount, and repayment period when choosing the best loan for you