Is Fast Loan Advance Legit? What to Know Before You Apply
Before you share your income and bank details with any online lender, you should know exactly who you're dealing with. This guide answers the question we hear most, "Is Fast Loan Advance legit?", and shows you how to check any lender for yourself.
The short answer
Yes. Fast Loan Advance offers online installment loans from $200 to $5,000 that are funded and serviced by our lending partners. Every offer shows the APR, fees, monthly payment and total cost before you sign, there's no fee to apply, and checking your options uses a soft credit inquiry that doesn't affect your credit score.
Being legitimate isn't the same as being right for everyone, though. Below is what you should weigh before you apply.
How Fast Loan Advance loans work
- Submit one request. The online form takes about two minutes and covers seven loan types, from personal loans to debt consolidation.
- Review your offer. You see your amount, APR, term and payment. There's no obligation to accept.
- Sign and get funded. If you accept, the lending partner completes your application and deposits funds as soon as the next business day.
What our loans cost
APRs range from 5.99% to 35.99% depending on your credit, income, loan amount and state. Some loans include an origination fee of up to about 5%. For example, a $1,000 loan over 12 months at 29.99% APR with a 5% fee has 12 payments of $102.36, for a total of $1,228.28. See more in our representative examples.
That's significantly cheaper than a typical payday loan. The CFPB notes that a standard two-week payday loan fee of $15 per $100 borrowed works out to an APR of almost 400%.
Signs a lender is legitimate
- Clear cost disclosure. The APR and total repayment amount appear before you sign, as the Truth in Lending Act requires.
- No upfront fees. Legitimate lenders take fees out of the loan or add them to the balance. They never ask you to pay before you're funded.
- A secure website. Look for https and a padlock in your browser bar before entering personal data.
- Published policies. A real lender has a privacy policy, terms of service and a way to contact support.
- No guaranteed approval. Responsible lenders review your application. "Guaranteed approval, no matter what" is a red flag.
What borrowers say about Fast Loan Advance
On public review sites, borrowers most often praise how quick the request is, fast decisions and next-day funding, and the willingness to work with imperfect credit. The most common complaints are high rates for low credit scores and follow-up calls or emails after applying. You can ask us to stop contacting you at any time. Read the full summary in What Borrowers Say.
How to spot scammers using our name
Loan scammers often copy the names of real lenders. Fast Loan Advance will never:
- Ask you to pay a fee, deposit or "insurance" before you receive your loan
- Ask for payment by gift card, wire transfer, cryptocurrency or a payment app
- Ask for your online banking password
- Pressure you to decide immediately or threaten you
If someone contacts you claiming to be us and asks for any of the above, stop and email [email protected]. You can also report it to the FTC at reportfraud.ftc.gov.
How to check any online lender in 5 minutes
- Search the name plus "complaints." Look at the Consumer Financial Protection Bureau's complaint database and the Better Business Bureau.
- Read the fine print before you sign. Your loan agreement must show the APR, finance charge, amount financed and total of payments. If any of these are missing, walk away.
- Confirm the lender is allowed in your state. Your state's banking or financial regulator lists licensed lenders, and the lender named in your agreement should be easy to look up.
- Check how you'll be paid and how you'll repay. Funds should go directly into your bank account, and payments should come out on a schedule you agreed to in writing.
- Test customer support. Send a question before you borrow. A real lender answers clearly and doesn't pressure you.
How we protect your information
Your request is encrypted with 256-bit SSL from the moment you submit it. We share it only with lending partners and service providers who help evaluate and fund your request, as explained in our privacy policy. You can opt out of marketing calls, texts and emails at any time, and residents of many states can ask us to access or delete their data.
When Fast Loan Advance may not be the best fit
If you have good credit, a credit union loan or a 0% intro APR credit card might cost less. If you need $100 for a few days, a paycheck advance from your employer could be simpler. Our loans make the most sense when you need $200 to $5,000, want fixed payments and a set payoff date, and don't qualify for a cheaper option.
Frequently asked questions
Is Fast Loan Advance a real lender?
Fast Loan Advance offers online installment loans from $200 to $5,000. Approved loans are funded and serviced by our lending partners, and your loan agreement names the lender.
Does Fast Loan Advance charge upfront fees?
No. There is no fee to apply or check your rate. Any origination fee is included in your loan and disclosed before you sign. Anyone asking for payment before funding is not us.
Will applying hurt my credit score?
Checking your options uses a soft credit inquiry, which doesn't affect your score. A hard inquiry may happen only if you accept an offer and complete your application.