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LAST UPDATED: August 2nd, 2023

GraceLoanAdvance is not a direct personal loan lender, but instead connects borrowers with various third-party lenders in its network based on the personal information provided by the borrower.

The GraceLoanAdvance website is limited, but you could receive a loan with competitive rates and terms. However, these rates and terms are subject to change based on the lender you choose to work with from the GraceLoanAdvance network.

Continue reading for a complete review of this personal loan company, as well as GraceLoanAdvance reviews from real customers.

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The Good

  • Competitive Interest Rates
  • Large Loan Amounts Available
  • Free Online Application Process

Competitive Interest Rates

GraceLoanAdvance offers rates ranging from 5.99 percent APR to 35.99 percent APR. The starting rate in particular is a competitively low option, but you will likely need an excellent credit score (700+) to qualify for the lowest interest rate. 

It is important to note that rates may also vary by lender, as well as the requirements for qualifying for lower-end rates.

Large Loan Amounts Available

GraceLoanAdvance offers loans of up to $100,000. While qualifying for this maximum loan amount will vary by lender and likely require a high credit score, you will have more flexibility with your loan amount than you might with other lenders offering smaller maximum loan amounts.

Free Online Application Process

The application process for a GraceLoanAdvance loan is entirely online, making it more convenient to apply and also receive funds.

In addition, it is free to apply. While other fees may apply — origination fee, prepayment penalty fee, or late fee — this will vary by lender in GraceLoanAdvance's network.


The Bad

  • Not a Direct Lender
  • Unclear Eligibility Criteria
  • Limited Company Information Available
  • Not a Better Business Bureau (BBB) Accredited Company

Not a Direct Lender

GraceLoanAdvance is not a direct lender, which isn’t necessarily bad because you can compare a variety of lender options from the company’s network, but rates, terms, fees, and other requirements will vary by lender, and so you may need to take the time to research each lender to see loan specifics. This could require a great commitment of time, but it is also difficult to manage your expectations of the loan experience since you won’t know about specific fees or requirement criteria up front.

Unclear Eligibility Criteria

GraceLoanAdvance does not disclose specific personal loan eligibility requirements. While the company doesn’t disclose a minimum credit score or income requirement, it can be inferred that you must be at least 18 years of age to qualify for a loan, and it is assumed that GraceLoanAdvance’s services are available in all 50 states, including Washington D.C., as there is nothing stating otherwise.

This lack of eligibility information could result in surprises down the line of the loan process in which you may not actually qualify based on your credit score or state of residence, for example.

Limited Company Information Available

Most personal loan companies have an “About Us” section on their website, outlining the company’s story, what they offer, and how they seek to serve borrowers.

However, GraceLoanAdvance does not offer any background information on itself, making it difficult to know more about the company and get an idea for its customer service. While this isn’t necessarily a drawback from doing business with GraceLoanAdvance, it may present some question of company trustworthiness since there is no information available.

Not a Better Business Bureau (BBB) Accredited Company

The BBB seeks to create greater trust between buyers and sellers. By assessing a company’s integrity and performance, the BBB offers accreditation to businesses, helping consumers avoid scams in the marketplace.

While GraceLoanAdvance is not an accredited BBB company, that does not mean that it is a scam or an untrustworthy company. But, it could provide you with greater peace of mind to borrow from a company that is BBB accredited, as you are guaranteed that that company is trustworthy.


The Bottom Line

GraceLoanAdvance is not a direct lender, but instead connects borrowers with multiple third-party lenders in its network. This is good news if you would like to compare offers based on your personal information, allowing you to choose the best rates and terms for you. Particularly if you have bad credit, you could still be matched with lenders, even though you may not qualify elsewhere.

However, rates, terms, fees, and eligibility criteria will vary by lender, making it difficult to know what to expect at the beginning of the loan process.

That being said, GraceLoanAdvance offers competitive rates — 5.99 percent APR to 35.99 percent APR — and favorable terms, providing borrowers with greater flexibility.

Based on the fact that rates and terms are subject to change based on the lender that you choose, as well as the fact that GraceLoanAdvance is not a BBB accredited company, we would recommend looking into other companies for your personal loan needs before making a final decision.

GraceLoanAdvance reviews are currently limited. If you’ve borrowed from this company, please tell us about your experience by leaving a review.

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