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RapidLoansDirect.com takes consumers applications and forwards the information to potential lenders it works with. The company is not a lender and does not broker loans. It offers personal loans for unexpected emergencies, vehicle repairs, debt consolidation, medical bills, special events, small business loans, and home improvements.

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The Good

Competitive Loan Terms

One of the few categories that RapidLoansDirect.com is comparable to other lending companies in the industry is the maximum loan term. RapidLoansDirect.com offers loans through increments of one, three, and 15 years as the maximum loan term. On average, these loan terms are standard and can be seen in many different loan companies. RapidLoansDirect.com also have fairly low loan amounts, so the loan terms reflect this in a positive way. A low loan amount for a five year period can help their customers have lower monthly payments and a more manageable loan overall. Of course, this is all depending on the interest rate charged on the personal loan. A maximum five-year loan is a smart decision for both the company and for potential borrowers who are looking for a controllable time frame for a personal loan.

Zero Fees for Applications

RapidLoansDirect.com provides it customers with are zero fees for their loan applications and approvals. Many other peer-to-peer lending companies charge a fee for simply filling out an application through their site, but RapidLoansDirect.com promises no fees unless charged by the selected lender, and then all fees must be presented upfront before a loan is accepted.

Solid Lender Network

RapidLoansDirect.com is available in all fifty states across America. As an exclusively online company, it has the advantage over some of their big name competition to be able to offer to any searching individual an online application and approval process. These bigger name banks often have strict policies on who can apply for their loans and have the inconvenience of having to go into a physical branch location. RapidLoansDirect.com is an all-online lending company, which makes them available to the largest number of potential customers.

However, again it should be noted that some of the laws and regulations in different states could affect the terms of a personal loan. Customers in some areas while still eligible to access loans through RapidLoansDirect.com might receive a higher interest rate or lower loan amount.

The Bad

Terms Vary Lender to Lender

The loans through RapidLoansDirect.com start out at one thousand and have a maximum of five thousand dollars. In addition, RapidLoansDirect.com state on their website that not all of their lenders have the ability to fund loans as high as five thousand. Some of their lenders have a much lower maximum loan amount and depending on the lender that is fitted for a personal loan, a customer might only be able to receive what RapidLoansDirect.com can offer at that time. This can potentially make borrowing through RapidLoansDirect.com a risky financial venture for many of their customers who are looking for bigger loan amounts or for a more certain guarantee of their needed funds.

Poor Customer Service

RapidLoansDirect.com is quick to demand personal information before even acknowledging (let alone answering) potential questions. It is already a challenge to get in touch with their customer service, making this entire process frustrating for the customer. This is an area that could use improvement. Although there is a phone number provided locally to Scottsdale, Arizona (where the company operates) it is difficult to contact the company and get an agent on the phone. The phone number promptly goes to an automated service where a voicemail must be left on a generic machine. Unfortunately, response times can take days, showing a lack of customer care and service to clients who should be valued and responded to promptly. 

The Bottom Line

RapidLoansDirect.com is not the best option for obtaining a personal loan. High-interest rates between 4.73% and 36% can be expected regardless of your credit history. Customer service has had its share of issues. For these reasons, we do not recommend it as a personal loan company at this time. 

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User Reviews

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2 Reviews

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Dale Raker
October 7th, 2016 Saline, MI

I was guaranteed a loan, got refused and have to pay a cancellation fee just to get my loan fees back. Unheard of. They cancelled my loan and I have to pay a fee??? Is this how they make money. I STRONGLY recommend no one apply for a loan at RapidLoanDirect. I put in for several loans and never had to pay a cancellation fee. To me this is stealing. Is a SCAM to me. Do not go here for a loan.

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Tracy Rensel
September 8th, 2016 Warrendale, PA

They had me get gift cards 3 separate times for a total of $280.00. Then they said the direct deposit was rejected and they needed another $175.00 in gift cards for a private carrier to deliver a check that could not be verified for the loan from bank of America who did not cut any check in my name and had no idea what I was talking about! Now all my money is gone(and my friends')that i had for emergencies.I am devastated!

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