By : 
Mr Credit Card
Mr Credit CardWhat is Zippy Loans?
Types of Loans Offered
Payday Loans - Zippyloan also has payday loan lenders in their network if you are looking for one. These are typically 14-day loans with high interest rates and fees.
How to Apply for Zippy Loan?
The picture above shows their home page and this is where you start your application. You need to fill in the cash needed, your monthly income range, credit type and the purpose of your loan (there are many options in the drop down menu).
Once you have filled in the above information, you will then be asked to fill in your name and date of birth.
The next screen is where you fill in your employment details. As we mentioned earlier, Zippy Loans accepts income from employment, benefits and military personnel as well. In the example above, I put in "Employed" and the following drop down boxes appeared. I had to fill in the Name of Employer, Work Phone, Monthly Income, How often I was paid, Position, Time at Job, How do I receive my pay? and when was my next payday?
The last step is your contact and deposit details. You need to fill in your email address, home address, time at residence, home phone number, drivers license, social security number, which state you are from and your checking account number and routing number.
Once you have submitted this information, it will be forwarded to various lenders who are willing to lend to someone of your profile (that you have filled in). You may get several replies from lenders willing to lend to you. You might have to submit more information to them. Once you have the lenders lined up who are willing to lend to you, you should read through the terms carefully and choose the loan that suits you best.
Once you have e-signed the loan, you could get the cash in your checking account the next business day.
Competition
| Loan Co | Amount | Excluded States | Not Eligible | Min Income | Credit Score |
|---|---|---|---|---|---|
| Zippy Loans | $100-$15,000 | NY | N.A. | N.A. | N.A. |
| Viva Loans | $100-$15,000 | NY, WV, DC | N.A. | N.A. | N.A. |
| Signature Loans | $100-$35,000 | N.A. | N.A. | N.A. | N.A. |
| Next Day Personal Loans | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | N.A. | N.A. |
| Life Loans | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | $1,000/m | N.A. |
| Honest Loans | $400-$50,000 | NY |
No Military Personnel No Federal Employees |
$8,000/m | N.A. |
| Fast 5k Loans | $100-$10,000 | NY, VT, WV, AK | No Military Personnel | $800/m | >540 |
| Excel Online Loans | $500-$20,000 | NY, DC, WV | N.A. | N.A. | N.A. |
| Bad Credit Loans | $100-$10,000 | N.A. | N.A. | N.A. | N.A. |
| 24/7 Loan Pros | $1,000-$35,000 | NY, VT, WV, AK | No Military Personnel | $800/m | >540 |
| 100 Lenders | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | $1,000/m | N.A. |
There are many loan aggregators available to consumers looking for loans. For the sake of comparing Zippy Loans with it's peers, we have chose aggregators who lend up to at least $10,000 or more since Zippy lenders will lend you up to $15,000. Aggregators who lend up to this range or more tend to have lenders that are short term cash advance lenders, installment loan lenders and personal loan lenders.
If you look at the table above, you can see that Zippy Loan is better than many of it's peers. Firstly, unlike many of them, they allow military personnel to apply for loans through their network. These networks include 24/7 Loan Pros, 100 Lenders, Honest Loans, Life Loans and Next Day Personal Loans.
Zippy Loans also accepts benefits as income. Benefits include income like retirement income, pension payments and income from social security.
If there is a drawback for Zippy Loans, it is the fact that residents from NY cannot apply. Among it's peers, many also exclude NY and a couple of other states. Only Signature Loan allows residents from all 50 states to apply.
Pros and Cons
Pros
- Wide Range of Loan Amount> - You can borrow between $100 and $15,000 with Zippy Loan. This is quite a wide range and most of you will find this enough for your needs.
- Different Types of Loans Available - Zippy Loans offer short term cash advances, installment loans and personal loans.
- Accepts both work income and benefits - Even if you have no work income, Zippy Loans accepts income from benefits like retirement income, income from social security and pension payments.
- Military Members Can Apply - Many loan networks do not accept applications from military members. Some even do not accept applicants who work for the Federal Government (those with .gov email). Zippy Loans accepts these applicants.
Cons
- Not Available in NY - Zippy Loans do not accept applications from NY residents.
Our Take
I can only think of two reasons why you might want to use another loan network. The first reason might be that Zippy Loans does not accept any applicants from NY. If you are from NY, I would suggest that you consider Signature Loans, which accepts applicants from all 50 states.
The second reason you might want to consider using another network is that you need to borrow more than $15,000. Once again, I would point you towards Signature Loans, which allows you to borrow up to $35,000.
Otherwise, Zippy Loans is one of the most popular loan aggregators and many folks have had success getting a loan from one of their lenders in their network.
