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Getting a loan from Press Loans is easy and fast, but the question is “Is Press Loan legit or a scam?” Read this article to know the truth about this organization to determine if it is safe to do business with them or not. We are going to detailedly examine Press Loans Reviews and critically answer other questions regarding it. I know you are eager to see all of it. So without further ado, let’s get straight into it.
A loan always comes as a silver lining when you are hit by dire financial problems. Getting loan from most financial institutions is not always very easy especially, with a low credit score. This is where Press Loans come in handy.
Press Loans is a lending platform that connects lenders to borrowers. It is a website that links loan seekers to the marketplace of lenders thereby acting as a middleman in the business. Here, one can get up to a $5000 loan by the next business day if your loan is approved.
Therefore, you should take note that it is not a lender in itself. However, it’s significant to know if Press Loans company is legit and safe to give out your details to, you can see the answer to this’ in the next section as you continue reading.
Is Press Loans Legit?
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It is largely claimed that Press Loans is legit and not a scam. This is because many people have been able to obtain loans through the platform. However, that alone can not serve as evidence that it is legit. Let us look at some of the variables that make up the system. This will help us conclude whether it is a scam or not.
1. Licenses
The first variable to consider when checking if any organization or company is legit or a scam is its licenses. In the case of Press Loans, there is no evidence or statement about its license. Therefore it seems to be operating as an illegal platform hence it is not governed by government regulations. And with such a situation, anyone who does any financial transaction with it is taking a risk.
2. Registration Date
Another thing that raises suspicion about this platform is the fact that it is new. It was launched about 3 years ago. The website was registered on 28th July 2020. This again made it to have failed the test of time.
3. Website Quality
The pressloans.com website has very low quality. It has no quality backlinks and there is not much information about the organization and its mode of operation on the website. Also, the website has no followers and its Alexia ranking is zero. And according to the DA PA checker, the website has a zero trust flow. This raises a lot of doubt about the legality of the organization.
4. Founder’s Information
Furthermore, there is no information about the founder of this platform on the website. Any legit platform would normally give brief information about its founder and some keyholders. However, nothing much was mentioned on this website.
5. Contact Address And Phone Number
Additionally, the platform has no physical address as it is not stated on the website and is not available anywhere on the internet. It has also not stated its phone number for further inquiries. The only address available is its email address to which you can send messages when you want to opt out.
Press Loans Reviews
It is important to know what others are saying about the platform especially customers that have used it. This will help to know how it truly works and further prove its credibility. After seeing the reviews, you will be able to determine if it is safe to use Press Loans or not.
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Looking through various review platforms like Quora, Reddit, etc. there are reports, comments, and reviews that show that the platform is legit. A good number of positive comments were registered. There were many commendations about its low-interest rate, good customer service team, fast and easy loan process, simple eligibility criteria, and so on. Here is an example of a positive review
“Press Loans is a legit company, they are much like Lending Tree but have relationships with many lenders that help people with lower credit or need fast loans”. Another person wrote, “I know many people that have used them and they have received dozens of loan options from many lenders”.
And as expected, there were also a few negative reviews/comments about it on these platforms. For instance, a customer wrote on Quora “They are all scams, they will ask you to pay some amount of money to be able to get the loan. Maybe they call it fees, that’s all scams”.
As we earlier noted, it has a Zero ranking on Alexia and this goes to show that it is not a popular platform. Trustpilot and BBB are also silent about Press Loans. All of these make it very suspicious to deal with.
Requirements For Press Loans
Anyone that intends to get a loan from this website must meet the following eligibility criteria.
- Must not be younger than 18 years of age.
- Must be a legal resident of the country.
- Must have a stable source of income.
- A valid bank account.
Apart from these general criteria, lenders may also have other requirements that will qualify you to get a loan from them such as your credit score and creditworthiness.
How To Get A Loan From Press Loans
The process of getting a loan from this website is very easy. All that you need to do is to visit their official website at pressloans.com and create an account. You will be asked to submit your data like;
- name,
- Date of birth,
- residential address,
- email address,
- phone number,
- employment status, etc.
After this, you will be allowed to choose any lender from the list provided. Now, go through the terms and agree to them. Follow the prompts till the application is completed. The lender will go through your details and if satisfied, the money will be disbursed to your bank account.
Press Loans Interest Rates
The interest rates for any loan gotten through the Press Loans platform are determined by the lender. Remember we noted that the platform only connects the lender to the borrower. However, it is important to note that they have the lowest interest rate that ranges from 5.99% to 35.99%.
Summary
From the entire Press Loans Reviews done so far, you can see that the platform is legit and not a scam as it does pay people. However, it has many flaws that call for suspicion. Therefore, it cannot be totally said to be safe. Hence, there is a need to apply caution when giving out your details and doing business on Press Loan.
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