Home FINANCE HonestLoans Review: How It Works

HonestLoans Review: How It Works

Low credit finance options have become popular over the past few years as they allow individuals with low or no credit scores to apply for a fast payday loan online as well.

HonestLoans is in the same league where it matches borrowers with suitable lenders on the low credit finance panel who consider more than just credit score, such as determining the viability of the loan request. The platform is partnered with lender companies that offer same-day payday loans to borrowers with all types of financial and employment statuses, which makes it popular with borrowers.

The Introduction of HonestLoans

HonestLoans has been designed keeping in mind, bad credit borrowers. The platform believes in giving bad credit borrowers also a chance to get a payday loan when in need. HonestLoans has associated itself with 80+ trusted lenders and many of these lenders use the borrower’s income and employment status as the qualifying criteria rather than their credit score. This in turn increases the chances of people with a bad credit score but good income to secure a payday loan. Additionally, if the borrower repays the loan back timely, it will help improve their credit score as well.

HonestLoans deserves to be the top broker platform for getting payday loans and offering several benefits to borrowers that too free of cost. If you are struggling with a debt overdue or have come up with an emergency expense, HonestLoans can help you with the process by connecting you with payday lenders who can lend you an amount up to $5000 as a bad credit payday loan.

Further, HonestLoans offers services to unemployed individuals as well if you can produce as proof some source of consistent income to repay them back the debt. Their partner lenders consider applications from borrowers with all types of financial and employment statuses without any discrimination..

How to Be Qualified for Payday Loans on HonestLoans?

A major plus point of using HonestLoans is that it offers payday loans to bad credit borrowers as well. This is only possible because their eligibility criteria for loan applications are quite lenient as compared to other similar platforms as mentioned below.

  1. HonestLoans only offers loans to U.S. residents.
  2. You should be 18 years or above.
  3. The platform requires you to disclose your personal information such as name, address, phone number, employment status, etc for loan application.
  4. An active bank account is a must to be qualified to apply for a loan.
  5. A steady income source is mandatory for the lenders to offer you the loan.

How to Get Payday Loans on HonestLoans?

The loan application process via HonestLoans is pretty straightforward, and the steps included are as below.


Step 1: Submit the Loan Request:

To apply for the loan via HonestLoans, fill out the loan application, which needs you to fill in certain personal information, including your name, address, contact details, and employment status. This takes a few minutes and is a no-brainer. Submit the application form to start the loan application process.

Step 2: Get Quick Decisions:

Once the application is submitted on the platform, HonestLoans uses its algorithm to connect you with the right set of lenders whose probability of offering you the needed loan is high. You will quickly receive decisions from lenders, and probably a few offers will come your way.

Step 3: Compare Offers:

Once you receive a few offers from different lenders, you should read the terms of the loan carefully and compare the offers to learn which lender is offering you the best deal.

Step 4: Receive the Loan Money:

Once you choose the desired offer and sign the loan agreement with the lender, the money gets deposited in your bank account the same or the next business day. Visit here to get an instant payday loan using HonestLoans.

Pros and Cons of HonestLoans

HonestLoans offers several benefits to its user but there are some negatives as well. We have listed them both below to help you decide better about the platform.


  1. The platform is associated with legitimate lenders who own established businesses and have years of experience. These lenders are licensed and regulated as well, hence you can rest assured.
  2. Unlike brick-and-mortar establishments, as HonestLoans operates online, their services are available to you 24/7. This means you can apply for a payday loan even at midnight and will get responses from their lenders.
  3. Filling out different loan application forms for multiple lenders is a tedious task that is reduced drastically by HonestLoans. You just need to fill out a single application form that the broker platform sends to multiple suitable lenders instantly.
  4. HonestLoans is associated with several lenders who are happy to offer you a payday loan, even with a bad credit score based on your current employment status and loan repayment capability.
  5. HonestLoans only links with lenders who are transparent in their dealings and offer fair rates to the borrowers. The platform encourages lenders to conduct a soft credit check to reduce the risk factor so that you can be offered a payday loan at a fair fee rate.
  6. Despite several benefits, the platform offers you; it is completely free to use with no hidden fees.
  7. HonestLoans maintains your privacy by securing your data with multi-layer encryption and processing them in full compliance with privacy regulations.


  1. HonestLoans has not yet started offering its services in all states. Residents of certain states, including, but not limited to Arkansas, New York, Vermont, West Virginia, Washington, and Pennsylvania, are not eligible to utilize this website or its service.
  2. HonestLoans can only link you with the right lenders but cannot guarantee that you will receive a loan offer, as it is completely a lender-dependent decision.


If you are looking for a payday loan broker service, that is simple with no bells and whistles. HonestLoans is the way to go. HonestLoans loan application form can be completed in roughly 5 minutes and you can expect to receive a decision almost instantaneously. The platform does not charge any hidden fees and on top of that, their reliable lenders deal fairly with borrowers, which makes HonestLoans the most preferred platform for bad credit payday loan borrowers.

Also Read: 6 Types Of Personal Loans You Can Apply For

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