Grace Loan Advance Review 2024: Is Grace Loan Advance Legit?

Grace Loan Advance Review

Having dealt with personal loans before, I am aware of how difficult it can be to locate a lender who is genuinely interested in assisting you rather than just trying to make a quick profit. I was thrilled to learn about Grace Loan Advance because it seems like a firm that genuinely cares about helping those in need. I’ll go over everything I learned about Grace Loan Advance Review in this post, including how it operates, eligibility conditions, loan amounts and terms, costs, repayment, and legitimacy. Additionally, I’ll offer some expert advice on how to receive the best value from this lender. Now let’s get started!

Overview – Who is Grace Loan Advance and What Do They Offer?

Online lender Grace Loan Advance provides personal installment loans with amounts ranging from $100 to $35,000. They present themselves as a business that is concerned about assisting regular people who are facing emergency or financial difficulties.

Grace Loan Advance guarantees quick cash, fixed monthly payments, and no hidden costs—unlike other predatory lenders out there. If your credit isn’t the best, it’s excellent that they don’t perform harsh credit checks either.

All things considered, they appear to be a fairly good option if you need quick access to cash and don’t want to be taken advantage of. Additionally, the application process is simple and fast.

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Grace Loan Advance Eligibility Criteria

Grace Loan Advance works to assist as many people as it can, but in order to be eligible, you must fulfill a few fundamental requirements:

  • There is an 18-year-old minimum requirement.
  • Must be a citizen or lawful permanent resident of the United States.
  • An active checking account is a requirement.
  • You must have a consistent monthly income of at least $800.
  • Both your phone number and email address must to be active.

They claim that having poor credit is OK and won’t prevent you from being accepted. It appears that they do, however, do a light credit check in order to ascertain your eligibility and the terms of the loan.

But if you fit those fundamental requirements, you should be good to apply!

Loan Amounts and Terms Offered

Personal loan amounts range from $100 to $35,000 at Grace Loan Advance. Even if Grace’s loan amounts are modest in comparison to some lenders’ offers of up to $100,000, you may still benefit from Grace’s small loan amounts because your monthly payments will be smaller.

Two to seventy-two months are the possible loan terms. Your monthly payment, then, would be approximately $95, if you were to borrow $1,000 over a 12-month period. Not too bad at all!

That interest does add up, so make sure you only borrow what you need. The APR and costs will be discussed in more detail later.

Interest Rates and Fees

This part holds great importance for each and every one of you! It’s important to be aware of the true cost of any loan you take out.

Grace Loan Advance informs you up front that, according on your unique qualifying requirements, your interest rate could range from 5.99% to 35.99% APR. However, it appears that the average is about 20%.

That is undoubtedly hefty, but not unheard of for personal loans to borrowers with bad credit. With great credit, rates as low as 5–10% are occasionally available.

Regarding fees, there aren’t any surreptitious origination fees or anything similar, nor are there any prepayment penalties. A one-time processing fee applies, though, and it can be anywhere from one to five percent of the total loan amount.

In the event that your payment is unsuccessful, there can also be third-party costs for things like inadequate cash. Verify that there is sufficient money in the associated checking account!

Repayment Terms and Options

The conditions of repayment for Grace Loan Advance are quite simple. You will make the same monthly payment until your loan is repaid because they employ fixed monthly installments.

Budgeting is made simple because you are aware of what to anticipate. Your loan agreement will make explicit how much you have to pay each month.

On the date of your payment due, they automatically make an ACH transfer to take the money out of your bank account. You are free to select a deadline that corresponds with your pay period.

It’s excellent that there are no prepayment penalties for early repayment. If you would like to reduce interest and pay off your balance sooner, you can pay more than the monthly amount.

Once during the loan period, you might be allowed to halt payments if you’re having problems paying. Simply contact their customer support department.

Loan Funding Timeline

Grace Loan Advance offers the benefit of prompt loan funding—many times as soon as the following working day—upon approval.

The standard timeframe is broken down as follows:

  • Apply online: Fill out their online form (takes 5–10 minutes) with your details.
  • Get matched with lenders: Find possible lenders using Grace Loan Advance’s lender matching service. (within 1 business day)
  • Review loan offers:  If matched, lenders will provide you with loan offers to consider (immediately).
  • Accept offer & e-sign: Select your offer, then finish the e-signing procedure (which should take 45 to 60 minutes).
  • Get funded: If accepted, the loan money could be paid into your account the following business day!

In summary, if you require the money immediately, you could receive it in your account within one to two days.

Customer Service and Grace Loan Advance Review

Reviews of Grace Loan Advance appear to be largely favorable regarding their customer support. During business hours, they have friendly loan specialists on hand by phone and email, Monday through Friday.

Reports state that the agents are amiable and competent in responding to inquiries regarding the loan procedure. The fact that you can communicate with a real person is nice!

Customers appear to be generally happy with Grace Loan Advance’s simple application process, quick cash, and flexible repayment options. High interest rates appear to be the main cause of bad ratings, but that is common with loans for people with bad credit.

Reviews suggest that they are a respectable lender who keeps their word.

Pros and Cons of Grace Loan Advance

Grace Loan Advance Pros and Cons

These are a few of the primary pros and cons to think about:


  • Quick acceptance for a simple online application.
  • As early as the following day, funds will be accessible.
  • Set prices with adjustable durations.
  • No origination costs or penalties for payments made early..
  • Helpful workers in customer service.


  • While not very low, these interest rates are on the high side.
  • The $35,000 maximum loan amount is less than that of certain lenders.
  • Loan must be repaid soon (shorter terms).
  • A hard credit check may momentarily reduce your score.

Despite some exorbitant rates and fees, Grace Loan Advance is generally a good choice for anyone in need of quick cash.

Alternatives to Consider

You have other options besides Grace Loan Advance. Some outstanding businesses to consider are as follows:

CashUSA: Offers loans for up to $10,000 with periods as long as 72 months. It takes about two minutes to apply. Cash in a single working day.

PersonalLoans: $35k in loans with 5.99% annual percentage rates (APRs). extended lengths of repayment—up to 72 months. suitable for credit rehabilitation.

LendingClub: Based on your credit score, interest rates range from 5.99% to 35.89%. Not a prepayment penalty. loans up to forty thousand dollars.

Prosper: Up to $40,000 in personal loans. Term limits of three or five years. The APR range is 6.95% to 35.99%.

To make sure you get the greatest loan for your circumstances, I’d advise comparing your rate with a few lenders. Every business has benefits and drawbacks.

Who Should (and Shouldn’t) Use Grace Loan Advance?

Although Grace Loan Advance isn’t suitable for everyone, it might be a wise choice for those in need of fast cash.

The following are a few categories of individuals that may profit:

  • Anyone who wants a quick little loan to cover an unexpected need.
  • Individuals without excellent credit or alternative loan choices.
  • Individuals who only require a small amount of more money until their next payday.
  • Borrowers who require repayment arrangements that are flexible.
  • Those who cannot wait and have an urgent need.

However, Grace Loan Advance might not be the best choice if:

  • Above $35,000 is required.
  • You’re looking for the longest durations and the lowest rates possible.
  • You object to your bank account making automatic payments.
  • You require extra time to pay it back—more than six years.
  • Your credit is excellent, and you have more loan choices.

Before proceeding with Grace Loan Advance, as with any lender, be sure to weigh all of your choices.

Pro Tips: How to Get the Most Out of Grace Loan Advance

If Grace Loan Advance is the best lender for your loan, then take advantage of these pointers to get the most out of your loan experience:

  • To save interest costs, just borrow what you really need.
  • Choose the shortest loan duration you can afford to save money.
  • To avoid fines and penalties, make your payments on time or ahead of schedule.
  • Save money for emergencies so you won’t need loans in the future.
  • To reduce interest, try to pay off the debt in full and early.
  • Pay off your debt more quickly by using any additional funds.
  • If a payment is overdue, get in touch with customer support right away.
  • To ensure there are no surprises, carefully go over each term.

A positive loan experience is mostly dependent on the borrower’s intelligence and knowledge.

Conclusion: Is Grace Loan Advance Legit?

I think Grace Loan Advance is a reputable lender after looking over the information, which includes affordable costs, prompt funding, and a great review. For those who require quick access to small personal loans, particularly those with poor credit, they offer a useful option.

Would I suggest them to a friend who was struggling financially? Of course! Although their loans may cost a little more than alternatives, they offer fast and simple approvals in exchange for that fee.

In general, Grace Loan Advance appears to be a trustworthy choice if you are short on cash and have nowhere else to turn. Just be careful to shop around, read the fine print, and use your loans wisely.

I hope you find this analysis useful in determining whether Grace Loan Advance is the best option for you. Let me know if you have any other questions.

Frequently Asked Questions

Still have some queries? Here are responses to a few of the most often asked questions concerning Grace Loan Advance Review:

What credit score is needed to qualify for a loan?

There is no minimum credit score required by Grace Loan Advance. They promise to assist you in finding a lender even if your credit score is poor. Very low scores—below 580—will probably make it more difficult to obtain certified.

How long does it take to get loan funds once approved?

Once you’re authorized and the paperwork is completed, you can typically start receiving your loan funds as soon as the following business day.

What are the repayment terms options?

Repayment periods vary from two months to seventy-two months. In order to suit your goals and budget, you can choose a term duration. Monthly payments for shorter durations are greater.

Can I get approved with no credit history?

Even if you don’t have credit history, Grace Loan Advance might still accept you as long as you can demonstrate that you have a steady source of income. The minimum income restrictions remain in effect.

Is there a grace period if I miss a payment?

Regretfully, no formal grace period exists. However, if you speak with their customer support staff, you might be able to suspend payments once while you have the loan. If you can’t make a payment on time, take preemptive measures.

Can I apply for a loan on weekends or holidays?

Only on business days does Grace Loan Advance accept applications and process loans. When their crew is not available—on weekends or holidays—you are not allowed to apply.

Everything there is to know about using Grace Loan Advance to obtain a personal loan! Please contact me with any more questions.

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