- 12M Loans
12M Loans
12M Loans, also known as 12 Months Loans Bad Credit and 12monthsloansbadcredit.com, is an online loan website founded in 2015. It helps with short-term loans (payday loans), unsecured personal loans, and installment loans. It operates one storefront in Redding, California and offers indirect loans to customers in about 40 states.
12M works with borrowers with good and bad credit.
Rather than a direct lender, 12M lets users fill out an application online, and then sends your information to dozens of lenders in its network to find the best loan you qualify for.
Although policies are left up to the lender that accepts you, most lenders will do a soft credit check.
Eligibility:
- 18 years old
- U.S. citizen or permanent resident
- Active bank account
- Active phone number and email address
- Stable, verifiable income
There are a few different types of loans offered, but the loan you qualify for is up to your state’s short-term loan regulations.
Payday Loans:
- Max: $1,000
- Term: By your next paycheck
- APR: 200%-2,290%
Installment Loans:
- Max: $5,000
- Term: Usually 24 months
- Min. APR: 35.99%
Personal Loans:
- Max: $100,000
- Term: Up to 60 months
- Min. APR: 4.5%
Keep reading our 12M Loans review for pros and cons of working with this lender.
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The Good
- Friendly
- Fast
- Financial Education
Friendly
One of 12 Month Loans’ goals is to be a kinder, friendlier lender for borrowers with bad credit. This company works only with legitimate lenders — predatory lending practices and abusive collections behavior are not tolerated. Most 12M Loans lenders collect in-house and must follow the Fair Debt Collection Practices Act
Fast
You will generally get at least one loan offer within a few seconds.
Financial Education
12M Loans offers a College of Knowledge section online.
The Bad
- Could Hurt Credit
- Third-Party Loans
Could Hurt Credit
The website states that unpaid loans may be reported to the major credit bureaus, but doesn’t say whether loans paid back can help your credit.
Third-Party Loans
As 12M is a loan matching service, your actual loan rates, terms, and policies will depend on the lender you do business with. There are no blanket policies attached to 12M that all lenders have to follow for NSF, late fees, renewals, cancellation policies, prepayment penalties.
The Bottom Line
This loan sourcing service offers to help people with all types of credit, stating that 90 percent of applicants are offered a loan.
Your options will depend on your credit, and you can get an offer within just a few seconds, but funds do take one business day.
Lending policies, rates, and terms will be determined by the lender that you are matched with. You won’t know which it is until you fill out the application. While 12M strives to be a friendly resource, you will ultimately have to deal with the direct lender, not 12M Loans.
Have you used this lender for a payday loan, installment loan, or personal loan? Let us know about your experience with a quick review below.
User Reviews
Star Rating
14 Reviews
Review Breakdown
Sentiment Criteria
FreFryAntony
Good service with normal rates and decent support team
Reply from 12M Loans
Jul 29, 2020
Hello Antony, thank you for appreciating our service!
Lee Desjarlais
High quality service and what I like most is that you really don't have to justify your your loan need. Simply fill in the form and apply without intimidating questions.
Reply from 12M Loans
Jun 11, 2020
We are sincerely glad you had a positive experience when using our service.
Jennifer Rodriguez
To be honest I wasn’t sure about this company and I was skeptical about it. It turns out the process to get the loan was fast. The monthly payment is very reasonable. I was very satisfied with the customer service and the gentleman’s patience in answering all my questions. I received the money the next day. I promise it was easy and quick.
Reply from 12M Loans
Jun 11, 2020
Thank you for appreciating our effort and for trusting us!
Julie Hupke
Quick approval of the application and good customer support
Reply from 12M Loans
Jun 29, 2020
Hello Julie, thank you for trusting us!
Giselle
In case you have any issues with filling the forms, just contact the support team and they will help quite fast with everything you need. I got my loan the same day!
Reply from 12M Loans
Jun 11, 2020
Thank you so much for taking your time and sharing your experience!
Michael
its awesome these guys r always available and ready to help u with any problem
Reply from 12M Loans
Aug 19, 2020
Hello Michael, thank you for appreciating our service and for choosing us!
John
I didn't think that I would obtain my loan so easy and fast. I spent only 10 minutes to fill out the loan application form, waited for the approval a bit - and voila! Considering the fact that I don't have a lot of time for filling out any forms, I will definitely use the 12M Loans user-friendly service next time.
Reply from 12M Loans
Jul 29, 2020
Hello John, that's what we've always aimed for- simplicity and ease of use. We are happy to see you appreciate our efforts!
Frank
All my efforts to apply for a loan were going pear shaped. I was very disappointed. There was no lender who accepted my request, and provided me the desired loan. 12M Loans is the one company who has seriously taken on my problem, and they have indeed helped me to receive the loan! I thinks such companies do deserves thousands of favorable comments!
Reply from 12M Loans
Jun 29, 2020
Hello Frank, you cannot imagine how happy we are to know that our customers are satisfied and feeling great about our activity. Thank you!
Jennifer
I had an insoluble problem (as it seemed to me). And thanks to the company's experts, I had a chance to resolve it! And now, I am calm and don't worry about that issue. Many thanks!
Reply from 12M Loans
Aug 19, 2020
Hello Jennifer, So glad we managed to offer you the right support, thank you for using our service!
Kris
quick response and good service would apply if need a loan again
Reply from 12M Loans
Aug 19, 2020
Hello Kris, thank you for trusting us!
Lilly F.
Had some questions regarding the process of getting a loan. Their customer support representative Harvey was willing to help me. Thanks for your attentiveness and care.
Reply from 12M Loans
Jun 29, 2020
Hello Lilly, thank you for choosing us! We will pass your kind words to Harvey.
Evergreen
I needed a small amount of cash fast. These guys made me an offer at affordable conditions. Really appreciate their help and if I ever need a loan again I will use this service.
Reply from 12M Loans
Jun 29, 2020
We are happier than ever to know we could provide you with the best deal and we simply want to assure you that you can rely on our service!
Allen35
I'm very satisfied with 12M Loans. They worked very fast and did a great job. I totally appreciate the service and friendliness of this company. I would suggest them to all my friends!
Reply from 12M Loans
Jul 29, 2020
Hello Allen, thank you for sharing your positive experience!
Robertos
Fast service. They don't ask too many questions.
Reply from 12M Loans
Aug 27, 2019
Hi, Robertos! We appreciate your kind feedback on our company.
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