12M Loans Review 2020 - READ BEFORE You Apply | Credit Raters us-lenders
Last updated: 5th Mar 2020

12M Loans Review 2020

Founded in 2015, 12M Loans is an online financial platform that offers credit facilities such as unsecured personal loans, short term loans, and installment loans. 12M is based in Redding, California, and offers indirect loan services to customers from over 40 states.

To qualify for a loan with 12M Loans is easy and straightforward. As long as you meet the set minimum requirements at their website, all you will need is to submit an online application, which only takes a few minutes.

Since 12M Loans is a financial platform that partners with numerous lenders, once you submit your online application, you will be connected with the most suitable lender based on your individual needs and qualifications. Even with poor credit, you will find a solution to your financial problems here at 12M.

Here is everything you should know about 12M Loans before you can decide whether you should work with them.

How much do 12M Loans cost?

Since 12M is a financial platform with multiple lenders, the interest rates, requirements, and repayment terms may vary from one lender to another. You will also note that the APRs are higher than traditional banks, but averaged priced for an online lender.

If you apply for a loan at 12M, here are some of the most probable costs and loan terms to expect;

Personal loans

  • Maximum loan amount – $100,000
  • Repayment period – 1-5 years
  • Minimum APR – 4.5%

Payday loans

  • Maximum Loan amount – $1,000
  • Repayment Term – next paycheck
  • Minimal APR – 200 – 2,290%

Installment loans

  • Maximum Loan amount – $5,000
  • Repayment term – up to 24 months
  • Minimal APR – 35.99%

These terms are bound to vary depending on factors such as the lender’s policy, state regulations, income, and credit score, among others.

Key Features of 12M Loans

The first thing you’ll live about 12M Loans is the application process. It’s easy and fast; within seconds, you are matched with multiple lenders plenty of deals. From there, it will be upon you to determine which lender suits your needs the best.

As well, even if your credit score is bad, you can still find the right lender at 12M. It works with borrowers with both good and bad credit scores. However, the specific terms of the loan will depend on the chosen lender.

Even if you qualify for a larger loan than you need, only take what you can afford to repay without struggling. 12M claims to report unpaid loans to primary credit bureaus, which could hurt your credit score.

However, there are no must policies at 12M that all lenders to follow. All the lenders have their own policies for late fees, prepayment penalties, cancellation, and renewals, among others. A lender can also decide to perform a soft credit check.


  • Widespread state availability
  • Fast loan application and offer
  • Access to multiple lenders
  • Reasonable rates


  • Reports non-payment which could hurt your credit
  • Third-party loans
  • Not accessible in all states


Once you apply for a loan with 12M Loans, you will receive one or more loan offers within seconds on your browser. You can then choose which loan offers to accept.

Yes, you qualify for a loan with 12M Loans as long as you have proof of regular income, an active bank account, and meet the minimum requirements.

12M works with parties with both good and bad credit ratings. Even if your credit score is weak, you should try your luck. You might find one or two lenders that are ready to accommodate you.

Yes, if you receive a loan offer and you wish not to proceed with the loan application, you can cancel. If the loan is already disbursed, you can consult with your lender about the same.

Eligibility Criteria

To apply for a loan at 12M Loans website, you must meet the following basic requirements;

  • Be a U.S citizen
  • Be 18+ years old
  • Be a resident of eligible states
  • Have an active bank account
  • Verifiable phone number
  • Email address
  • Consistent and Verifiable income

12M offers its loan facilities to more than 40 states. To find out whether your state eligibility, visit the 12M website. In the application page, you will find out whether you are eligible to apply. You can as well contact the 12M customer support team to find out.

Customer Support

Based on the customer reviews on the 12M website, the customer support team is attentive, friendly, and responds to all inquiries promptly.

12M Loans Application Process

To apply for a loan with 12M is easy and hassle-free. The first step is to visit the 12M website and click the “Apply Now” option.

Here, you’ll be required to key in your personal information. You can expect to be asked to provide the following details;

  • Full names
  • Social Security Number
  • Verifiable phone number
  • Email address
  • Driver’s license
  • State of residence
  • The purpose of the loan
  • Proof of income
  • Financial information
  • Active bank account

12M Loans Review – Conclusion

There are so many benefits that you can enjoy for choosing 12M Loans for your financial needs. Besides offering you funds as soon as the day of application, you can still qualify for a loan even if your credit score isn’t great.

While a poor credit may attract higher interest rates, you can have someone to lean on at 12M in case of a financial emergency. And unlike traditional banks that you have to fill and signs numerous paperwork, everything with 12M is easy and quick.

Additionally, all the loans are unsecured, and therefore you won’t need collateral. As well, you can rest assured that the information you provide at 12M Loans is safe. Also, all the lenders at 12M Loans are all legit and trustworthy.

Why don’t you try 12M Loans today!