Slam Dunk Loans Review | Loans Like Slam Dunk Loans | Credit Raters us-lenders

Slam Dunk Loans Review

Are you looking for large online personal loans of up to $50,000? If so, Slam Dunk Loans can help to help you get it within a short time frame of just one business day.

Slum Dunk is an online lending financial platform issued through Round Sky, which is an ad agency for installment and payday loans. Through its nationwide network of lenders, you can apply for loan amounts ranging from $200 up to $50,000. As well, you are not limited to how you can use the allocated funds.

Whether you want to pay for medical expenses, electricity bills, or car bills, how you use the money is all up to you. The loan application process is easy, secure, and hassle-free. The entire application is done online and only takes a few minutes to complete.

To find out if Slam Dunk is the right place to seek financial aid, here is a comprehensive review of its key features, costs, and requirements.

Costs

Slam Dunk is a connection service that connects customers to potential lenders who may be able to help them acquire loans. Due to the platform nature to work with multiple lenders, it’s unable to provide gherkin exact APRs and repayment terms that you’ll be charged for getting a loan with one of its lenders.

The loan terms and rates will vary depending on the lender’s policy. Once you are paired up with a lender, you’ll be given the loan rates and terms. If you are satisfied with the lender’s rates and repayment terms, you can take out a loan with them.

While Slam Dunk doesn’t provide the exact fees you’ll get from its lenders, it states that the APRs can range from 200% all the way up to 2,290%. Clearly, that’s expensive bearing in mind that some lenders offer APRs of as low as 3.99%. Factors used to determine the APRs of your loan include the loan amount, loan term, credit rating, and income.

Key features

The most important feature to note about Slam Dunk is not a lender. Rather, it’s a lending marketplace with a network of lenders. While you apply for loans via the platform, it doesn’t have control or knowledge of the loan details you agree with the lender you get connected with.

The lenders on this platform offer loan amounts ranging from $200 to $50,000. However, not all lenders can offer the highest loan limit. As well, the platform doesn’t guarantee that you must qualify for a loan or the loan amount that you wanted to borrow. But if you meet the minimum requirements, you have every right to apply.

Another great feature with SlamDunkLoans is that you don’t need to have a good credit to qualify for a loan. The primary concern is that you should have a minimum monthly income of $800 and live in one of the eligible states. You also don’t need collateral to secure your loan.

It’s also important to note that every lender on this platform operates under its own terms and conditions – varies by lender. Therefore, once you get a loan offer, review all the terms and conditions before signing the loan contract.

Look for details such as the APRs, loan term, origination fee, late repayment fee, and non-payment charges, among other details. While online loans are easy to get, they can trick you in circles of debts. Some lenders may take collection actions if you default and you could end up losing more.

Never sign a loan contract if it doesn’t suit your needs. Again, don’t borrow more money than you can afford to pay. As for your safety, Slam Dunk guarantees that your information is secure. It uses advanced measures such as 256 bit SSL encryption to safeguard your information. However, it may share your information with one or more lenders on its platform.

Other advantages and disadvantages of using this platform to apply for a loan include;

Pros

  • Quick application process and funding
  • Access to a wide pool of lenders
  • Large loan limits – up to $50,000
  • No credit score limit
  • No collateral
  • No paperwork

Cons

  • Must have a minimum monthly income of $800
  • Not available in all states
  • Not upfront with the rates and repayment terms of its lenders

FAQs

When will I receive the allocated funds?

Once your loan application is approved and you’ve signed the loan documents, you are likely to receive the funds on the next business day.

What can I use the loan for?

Whatever purpose you want to use the money for is up to you. You can use it to pay for home renovations, unexpected expenses, shopping, vacation, or paying for bills.

Can I call to apply for a loan?

Absolutely, while most people prefer you use the online application, you can apply for a loan via the phone at 866-956-2474.

Eligibility Criteria

To apply for a loan via this platform, you must meet the following minimum requirements;

  • Be 18 years or older
  • Have an active checking account
  • Be a U.S permanent resident
  • Have a regular income of at least $800

Note that additional conditions may apply depending on the lender that you’ll be matched with.

State Availability

To apply for a loan via the Slam Dunk, you must not live in the following US states;

  • Arizona
  • Arkansas
  • The District of Columbia
  • Connecticut
  • Georgia
  • Maryland
  • New Jersey
  • New York
  • Massachusetts
  • Oregon
  • North Carolina
  • Vermont
  • Virginia
  • Pennsylvania
  • West Virginia

All the other states are eligible to apply.

Customer Support

For any inquiries, you can refer to the Slam Dunk FAQs page or call the customer support team at 866-956-2474. The support team is friendly and will reply to your concerns timely.

Application Process

To apply for a loan through Slam Dunk, follow the following steps;

Step 1 – Visit the SlamDunkLoans website application page

Step 2 – Select the desired loan amount and then enter your email address to get started.

Step 3 – Enter your personal information, including your name, last 4 digits of your Social Security number, ZIP code, and year of birth. Click Continue

Step 4 – Fill in your phone number, address, driver’s license number, employment information, and bank account information.

Step 5 – Read over the terms of use and privacy policy and then submit the application. Slam Dunk will review your request and connect you with the most suitable lender based on the information you have provided.

Step 6 – If you are connected, review the offer and accept it if it suits your needs. If you accept, you will be directed to the lender’s website to finish the application. If you are approved, you’ll be offered a loan contract to e-sign. After you sign, you can expect to receive the funds on the next business day.

Conclusion

If you’re not sure of which direction to take for a personal loan, Slam Dunk Loans can get you the help you need. Apply today, and you’ll have your funds within as less time as 1 business day.