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Chances are you learned about SpeedyNetLoan while trying to sort out some financial situation.

However, SpeedyNetLoan is just one of many lenders offering loans in the market, meaning you may have difficulty deciding.

Is SpeedyNetLoan the best option for you?

SpeedyNetLoan is a reasonable loan option to borrow a small amount and access quick funding. But, if you stay in New York, West Virginia, or Columbia and need a loan greater than $5000, there are better options for you.

SpeedyNetLoan Overview

SpeedyNetLoan is a loan broker connecting borrowers to multiple lenders offering short-term and long-term loans, including payday and personal loans.

Borrowers can get loans between $100 to $5000, depending on their income, credit history, state of residence, and the lender. SpeedyNetLoan lenders offer loans to borrowers with different credits, including excellent, good, and bad.

It currently offers loans in all U.S. states except New York, West Virginia, and Columbia.

SpeedyNetLoan Highlights

  • Loan Amounts: $100- $5,000.
  • Available States: SpeedyNetLoan currently serves residents in all U.S. States except New York, West Virginia, and the Districts of Columbia.
  • Credit Check: SpeedyNetLoan does not do a credit check when borrowers fill in their details to get connected to lenders. However, upon application to individual lenders, a hard credit pull may be done to check your credit history and score.
  • Minimum Credit Score: SpeedyNetLoan has no limited credit score for borrowers to apply. It helps even those with bad credit connect with willing lenders.
  • Minimum Income: No minimum income is specified on SpeedyNetLoan. When you apply with lenders, however, they may have an income requirement. It varies from lender to lender.
  • Funding Time: Once approved, borrowers can receive funding as soon as the next business day, depending on the lender's policy.
  • Repayment Terms:
    • Installment loan: 6 - 60 months.
    • Short-term loan: on your next payday.
  • Interest Rate: A borrower can get an interest rate from 15% to 35%, depending on their loan type, creditworthiness, and the lender they choose.
  • Fees: Lenders on SpeedyNetLoan may charge extra fees, like origination, late, and prepayment fees. However, the fees applicable to a borrower depend on their chosen lender.
  • BBB: SpeedyNetLoan is not accredited by the independent review firm Better Business Bureau (BBB) but has an A- rating on the site.
  • SpeedyNetLoan Welcomes Borrowers With Bad Credit.
  • SpeedyNetLoan Offers Various Loan Types.
  • Non-US Citizens and Military Personnel Can Apply For Loans At SpeedyNetLoan.
  • SpeedyNetLoan Offers A Quick And Easy Online Application.
  • SpeedyNetLoan Only Offers $5000 Maximum Loan Amount.
  • SpeedyNetLoan Isn't Available To Residents From New York, West Virginia, And Columbia.
  • Federal Employees Cannot Apply For Loans At SpeedyNetLoan.
  • SpeedyNetLoan Website Does Not Readily Show Contact Information.
  • SpeedyNetLoan Has A Barebones Website.
  • Rates and Terms Are Inaccessible Until You Go Through The Application Process.
Bottom Line

SpeedyNetLoan helps borrowers find multiple lenders in simple, quick steps, but the service is unavailable in all states, and the maximum loan amount is average.

Where SpeedyNetLoan Stands Out

SpeedyNetLoan Welcomes Borrowers With Bad Credit

SpeedyNetLoan connects borrowers irrespective of their credit background. So, if you have bad credit, the platform will still connect you to their lenders willing to consider your application.

The credit check is only one of the aspects accessed by processing a loan. The lenders also use other criteria, such as income info, personal details, and state of residence, to determine a borrower's eligibility.

SpeedyNetLoan Offers Various Loan Types

SpeedyNetLoan is only a loan broker, helping you connect with various lenders. This means you gain access to lenders offering different types of loans, including long-term, like personal loans, and short-term loans, like payday loans.

Non-US Citizens and Military Personnel Can Apply For Loans At SpeedyNetLoan

You don't have to be a U.S. citizen to apply for loans on SpeedyNetLoan. As long as you reside legally in an approved U.S. state and have a Social Security Number, you can fill in your details and connect to multiple lenders.

SpeedyNetLoan is also open to helping military personnel get loans. The APRs lenders charge on the platform fall within the 36% limit approved by the Military Acts for people in service.

SpeedyNetLoan Offers A Quick And Easy Online Application

You don't have to wait for ages before connecting to lenders. Once you fill out a form online on SpeedyNetLoan, it will be shared with multiple lenders, and you will get offers within a few minutes. You can then apply to suitable lenders and get funded up to $5000.

Where SpeedyNetLoan Falls Short

SpeedyNetLoan Only Offers $5000 Maximum Loan Amount

Lenders on SpeedyNetLoan do not offer loans above $5000. Even if you apply for the $5k loan, there's no guarantee that you will get it. So, if you have large expenses requiring a higher amount, you must seek other loan options with suitable offers.

SpeedyNetLoan Isn't Available To Residents From New York, West Virginia, And Columbia

Not everyone can use the SpeedyNetLoan to gain access to lenders. All New York, West Virginia, and Columbia residents have to seek other options as SpeedyNetLoan is not available to them.

Federal Employees Cannot Apply For Loans At SpeedyNetLoan

It is common for federal employees not to get paid on time. If they don't get paid, there is usually no other option to repay their loans. So, they often request loan forgiveness, resulting in the lender's loss. Due to this, SpeedyNetLoan does not allow them to fill out their form or get connected to lenders.

SpeedyNetLoan Website Does Not Readily Show Contact Information

SpeedyNetLoan's official website does not contain any information that allows borrowers to reach customer support. To get their contact, borrowers must dig deep into their privacy policy page.

SpeedyNetLoan Has A Barebones Website

The information available on SpeedyNetLoan Website are pretty general. Even their FAQs don't provide explicit answers to the borrowers' questions. So, you may not find all the answers to your inquiries until you contact their support.

You can message [email protected]> or [email protected] or call 1-844-237-7864 toll-free to request data portability deletion, exercise access, ask questions, and tender complaints.

Rates and Terms Are Inaccessible Until You Go Through The Application Process

Since SpeedyNetLoan isn't a direct lender, the platform does not provide any information on the potential rates and terms for borrowers. You have to fill out a form, get connected to lenders, and apply for a loan before getting additional information on your rates and terms.

Compare SpeedyNetLoan With Other Lenders

SpeedyNetLoan offers fast funding for borrowers with small loan needs, but it isn't right for everyone.

If you live in New York, West Virginia, or Columbia and require a loan over $5000, SpeedyNetLoan is the wrong place to look. So, why not check out other options offering more suitable loans for your situation?

Here is a side-by-side comparison of SpeedyNetLoan with two other lenders, Personal Loans ™ and BadCreditLoans, to help you make a better decision:

Personal Loans™
$100 to $5000
Loan Amount
$1,000 to $35,000
$500 to $10,000
15% to 35%
Estimated APR
5.99% to 35.99%
5.99% to 35.99%
6 to 60 months
Loan Term
3 to 72 months
3 to 72 months
BBB Rating
Not all states
Available States
All U.S. states
All U.S. states

SpeedyNetLoan vs Personal Loans ™

SpeedyNetLoan has a lower minimum loan than Personal Loans ™ which is a good feature for borrowers who want small loan amounts. However, its available loan maxes out at $5000 only, which borrowers are not guaranteed to get.

Personal Loans ™, on the other end, offers up to $35,000 installment loans and a longer loan term. This gives the borrowers a chance to get higher loan amounts that cover their expenses and repay them conveniently.

SpeedyNetLoan lenders start charging their APRs at 15%, about three times Personal Loans ™ minimum APR. This means borrowers can get cheaper loans at Personal Loans ™. The maximum interest rate of both lenders is not so different.

Personal Loans ™ and SpeedyNetLoan have the same rating on BBB, but the former has more positive customer reviews than the latter.

Lastly, SpeedyNetLoan doesn't provide its services in all U.S. states, while Personal Loans ™ does.

SpeedyNetLoan vs BadCreditLoans

If you want a loan higher than $5000, BadCreditLoans is a much better option than SpeedyNetLoan. You will also get the loans at a lower APR than SpeedyNetLoan, whose minimum APR is outrageous.

BadCreditLoans repayment terms stretch up to 72 months, which is a longer loan term than SpeedyNetLoan offers. In addition, you can access BadCreditLoans as long as you are from any of the 50 U.S. states. SpeedyNetLoan, on the other end, serves only 47 out of the 50 states.

SpeedyNetLoan isn't accredited with BBB, but it does have a rating higher than BadCreditLoans' on the review platform.

Requirements For SpeedyNetLoan

Eligibility Criteria

To fill out a form on SpeedyNetLoan, a borrower must meet the following criteria:

  • Age: You must be at least 18 years old or 19 if you're from Alabama.
  • Income: No specific minimum income is required, but you must have a steady income source before finding a lender on SpeedyNetLoan.
  • Citizenship: You must be a citizen of the U.S. or a legal resident with a Social Security Number.
  • Other requirements: Different lenders on SpeedyNetLoan may have specific eligibility requirements apart from the above. So, meeting the requirements on the main platform does not guarantee that your loans will get approved.

Documents Needed

According to the SpeedyNetLoan privacy policy, they may collect the following information when you fill out a form on the platform:

  1. Social Security Number.
  2. Full name and date of birth.
  3. Address and phone number.
  4. Driver's license number and state of issue
  5. Employment history, employment status, income, payroll, and benefits.
  6. Bank account number, credit and debit card number.
  7. Education.
  8. Insurance policy number and medical information.
  9. Records of personal property.
  10. IP address.

How Do I Apply For A Loan At SpeedyNetLoan

  1. Go to SpeedyNetLoan official website.
  2. Fill out your desired loan amount range, zip code, and email address, then click Start Here.
  3. Fill out your basic information, including full name, birth date, loan purpose, and credit type.
  4. Fill out your income information, including primary source of income, employer's name, position, job during, monthly income, payment frequency, next payday, work phone number, and how you receive your payment.
  5. Fill out your deposit and contact information, including email address, phone number, home address, state, city, zip code, duration of stay, home ownership, SSN, driver's license number, and driver's license state.
  6. Submit the application form and wait to get approved.
  7. Get connected with a lender, review the terms of the offers, and sign for the loan online.
  8. Receive your funds as soon as the next business day.

How CreditYelp Rates SpeedyNetLoan

Overall 3/5 Explanation
Requirements and Application 4.5/5 Borrowers can complete a form and connect to lenders in a few minutes. Application is easy, and the requirements are not far-fetched.
Loan Accessibility 4.5/5 Once you meet the simple Criteria on SpeedyNetLoan, you will be connected to various lenders barely five minutes after filling out a form.
Affordability 4/5 SpeedyNetLoan interest rate maxes out at 35%, a fair percentage compared to other lenders.
Customer Experience 2/5 SpeedyNetLoan is yet to receive great reviews from customers in recent years. There's been one complaint after the other regarding different issues.

SpeedyNetLoan FAQs

Q1: What is the difference between short-term and personal loans?

A short-term loan is a small loan taken out against the next payday. Most lenders offering this loan type do not capitalize on your credit but on your ability to pay back.

They will be interested in your paystubs or checks when checking your eligibility. Note that short-term loans are not available in all states. They come with high APRs, and their repayment term is also usually within 30 days.

Conversely, personal loans are installment loans used to cater to bigger expenses. They are suitable when you need larger loan amounts and prefer to pay them back in installments.

Personal loans usually come with lower APR than short-term loans. Lenders focus on credit history and income sources when screening for personal loans. They also offer longer repayment terms, unlike short-term loans.

Q2: Why does the lender ask for banking information?

Like many other lenders, SpeedyNetLoan asks for your bank information to prove your identity and ability to receive funding electronically. So, you will be asked to fill in your bank doubting number, IBAN, and other necessary information.

Q3: Is it possible to get an extension on my loan?

SpeedyNetLoan does not have a say in extending your loan, so It depends on your lender. Many lenders on the platform offer loan extensions and even alternative repayment plans. So, discuss with your lender whether you can extend or not and the options available to you.

Q4: Can I only request during business hours?

No. SpeedyNetLoan accepts requests 24 hours a day and 7 days a week. So, you can fill out a form and connect to a lender anytime.

Q5: Is it safe to borrow from SpeedyNetLoan?

SpeedyNetLoan uses 256-bit SSL encryption to keep borrowers' data safe.

However, SpeedyNetLoan offers the services of a loan broker. So, expect your information to be shared with lenders while trying to get you a suitable loan.

Even after getting a loan, you may keep receiving emails from SpeedyNetLoan and the lenders with your information. But you can request data deletion via [email protected] to stop receiving those messages.

Thus, SpeedyNetLoan is generally regarded as a safe lending site.

Q6: What are SpeedyNetLoan loan borrowing costs?

SpeedyNetLoan does not specify the cost of borrowing via its platform because it is not a direct lender.

You must apply for a loan first and receive the terms from your lender before knowing the loan costs, including interest rate, late fees, origination fees, prepayment fees, etc. It all depends on which lender you choose.

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