3YearLoans.com is the online home of 3YearLoans, a loan matching service that specializes in personal loans ranging between $500 and $35,000 depending on your personal needs and credit score.
How Does It Work?
3YearLoans acts as a loan matching service, which means they do not actually supply borrowers with the money themselves, but instead are responsible for gathering all the necessary information that will be looked at by the lenders that will provide you with your loan.
To do this, their website asks that people fill out a short application, which should take just a few minutes to complete, and includes information like your credit score, your reason for requesting the loan, and some other basic personal and financial information.
Though this website says that they primarily work with personal loans, they do say that if they are unable to find a lender who can meet your needs for a more traditional personal loan that they will provide you with a list of lenders who can provide you with a short term loan. However, their website advises that “you consider all borrowing options before taking out a short-term loan” because of the high APR and steep penalties associated with these types of loans.
Using this website is completely free, but the cost of accepting a personal installment loan depends on how much money you have borrowed, the length of time you take to pay it back, the interest rate that is being applied, and whether or not you incur any additional fees or charges during the term of your loan.
Their website says that it is required by law that a lending company clearly disclose the APR they are planning to charge you in the terms of your loan, as well as whether or not they have any additional fees or penalties for late payments. It is up to the borrower to read and understand these agreements in full before accepting them.
Personal installment loans do not have Refund Policies, but they may have periods during which they can canceled and the borrowed money can be returned without any payment of interest or penalties - this information should be included in the terms of the loans that are provided to you and will vary depending on which lender you are matched with or which lender you ultimately choose.
Customer Service Contact Info
Customers who are interested in contacting Customer Service with questions, concerns, or complaints can do so by email at [email protected] They do not appear to provide a phone number to their Customer Service team at this time.
This company appears to receive mixed reviews for the most part, which is not surprising as their website clearly says that if they cannot find you a lending match who will provide you with a traditional personal loan then they will automatically provide you with a match that can offer you a short term, or “payday” loan.
Many of their complaints were from people who said they went to this website specifically to find a personal loan company who would work with them and were very frustrated when all they were given was a controversial payday lender that they felt did not meet their needs.
Because this company does not currently appear to have a profile with the BBB or any other formal organization, it is difficult to tell whether or not this is a complaint that affects people who simply do not have the credit score and history to be matched with a legitimate personal loan lender, or whether this is something 3YearLoans does to people of all different credit scores and histories.
People who believe they have a strong enough credit history to receive a traditional loan but who were not given one through this website should seek out the assistance of other loan providers before committing to any other kind of financial assistance, especially the controversial payday loans.
Competitors and Alternatives?
There are many different websites that offer this same type of free service, where they match up borrowers with qualified lenders, including PersonalLoans.com, ClickNLoan, BetterLoanChoice, Speedy Net Loan, and many more.
If you have experience with this company or their products, please leave your 3YearLoans reviews below.