EastSide Lenders Review

EastSide Lenders ReviewEastSide Lenders says that they are striving to set the standard for online loans, and that they are dedicated to giving you alternatives when it comes to finding a quick loan. They say that your information will be kept confidential, and that is really the least that you can expect from an online lender.

They shouldn’t be giving your information out to anyone, without your permission. They also say that your information will be kept private and secure on their servers, also something that should be standard in the financial industry.

They say that the application process is not very long, and that you will get an instant response based on your qualifications so that you won’t have to wait around to see if you are approved or not. They also say that your money will be deposited directly into your account in just 24 hours time. Obviously this doesn’t include weekends, because they still have to wait for your bank to open before they will be able to deposit your money.

EastSide Lenders Review – What You Need to Know

EastSide Lenders also says that they are able to provide you with financial information and advice so that you have more information on how the process works, and whether or not online loans are something that you should be using. They talk about their customer service and say that they appreciate the loyalty to their customers show them.

At the same time you have to wonder whether or not they are a good business if their customers need to come back to them after taking out a loan. If an online loan really is the solution to your financial problems, you should only need to take a loan out once, and not again and again.

They say that their goal is to help you with your short term money problems and that they provide a cheaper alternative than other online loans, and they say that they will help reduce your stress levels. It’s also been stated that they take an individual approach to each borrower, so your specific needs will be fulfilled.

The Option to Renew
You have the option to renew your loan on your due date, which means you would just pay the fees and interest from your loan while keeping the principal. That would be great because it would mean you wouldn’t have to have them take out a big chunk of cash from your bank account in just two weeks time.

In most states they will not let you do this with a payday loan, it is called a roll over, and they will make you pay back the entire amount of your loan plus the fees, but then allow you to take a loan out again right after you pay it off. Not having to come up with the principal is a good thing because you can keep that money where it needs to be and just pay the interest in fees on your loan.

This is actually what keeps most people in the payday loan trap. They have to pay back so much of their next paycheck to the lender that they can’t make it two more weeks until payday so they have to immediately take out more money to make it through till the next payday.

Part of the Speedy Loans Network
A call to EastSide Lenders reveals that they are part of the Speedy Loans Network, which likely means they are not a direct lender and rather just a “matching service”. They also have the odd request of having you give them your social security number on their voicemail. We would recommend against giving out your personal information to a company’s voicemail service, and it’s very strange that they would even ask you for this, since you are not even a customer of theirs yet.

Our Recommendation
We’re not able to give EastSide Lenders our recommendation because we’re not entire convinced that they are a standalone lender, and could just be part of a network of lenders all trying to collect your information as a lead generating business model. There are other sites that do a better job of matching you up with a loan that is suited to your needs.

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