eagle cash loans review
Updated April 13, 2023

Eagle Cash Loans Review: Can You Find Your Next Personal Loan Through This Marketplace?

Personal Loans
  • eagle cash loans logo
    Eagle Cash Loans
    • Basics: Eagle Cash Loans is an online marketplace to apply for and compare quotes from personal loan lenders.
    • Pros: Wide range of loan options, fast approval, next-day funding, and a single online application for multiple lenders.
    • Cons: Most lenders require at least fair credit, so the marketplace isn’t a fit if you have poor credit.
    APR (Details) 8/10
     
    Fees (Details) 7/10
     
    Transparency (Details) 8/10
     
    Flexibility (Details) 8/10
     
    Funding Speed (Details) 10/10
     
    Accessibility (Details) 8/10
     

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The personal loan space is crowded with lenders. But because personal loans are a special type of financing, you can never be guaranteed approval with any single lender.

That’s where an online personal loan marketplace, like Eagle Cash Loans, can provide a better strategy. With a single online form, you’ll be able to apply with multiple lenders.

That could increase your chance of approval and let you compare quotes to find the best pricing and terms.

This review will give you an overview of Eagle Cash Loans, as well as some of the pros and cons of using the website to determine whether it’s the right place for you to find your next loan.

What Is Eagle Cash Loans

Headquartered in Ft. Lauderdale, Florida, Eagle Cash Loans is an online lending marketplace that connects you with a network of lenders.

The company isn’t a direct lender, but rather acts as an intermediary between borrowers and lenders. A borrower can go to the platform, provide basic information, and get loan offers from interested lenders.

Eagle Cash Loans lenders provide personal loans. You can borrow up to $35,000, and repay the loan over several years.

Using a marketplace gives you a major advantage over applying directly with a single lender. If you apply with a direct lender and you’re rejected, you’ll need to go to another source.

But with Eagle Cash Loans, you’ll solicit loan offers from several lenders, greatly increasing the chance you’ll find a lender to make you an offer.

Eagle Cash Loans has a Better Business Bureau rating of “C-“, on a scale of A+ to F, although that rating is due to “failure to respond to one complaint filed against the business”. In other words, the rating is based on a single event.

Unsecured Installment Loans

The Eagle Cash Loans network lenders offer personal loans in amounts ranging from $200 to as much as $35,000. The loans are unsecured, and you can borrow for just about any purpose.

Some examples include funds for business, education, green energy, home improvements, medical expenses, moving, paying taxes, purchasing a vehicle, debt consolidation, and wedding expenses.

Loan terms vary by lender, as well as your state of residence. However, personal loans typically have a term ranging between 36 months and 60 months.

All loans are set up as installment loans, with fixed rates and fixed monthly payments.

Eagle Cash Loans does not specifically cater to borrowers with bad credit. Though the site claims it will attempt to connect you with lenders that can accommodate all credit types, approval is not guaranteed.

Loan Amounts up to $35,000

Many online lenders and online loan marketplaces allow you to borrow only a few thousand dollars. But through Eagle Cash Loans, you could find a loan for up to $35,000.

A Single Online Application

If you have perfect credit, you can apply for a loan with just about any lending institution and be practically guaranteed approval. But if you have less than “good” credit, or there are any other weak spots in your financial profile, approval is less certain.

That’s the advantage of the online marketplace. Because it connects you with multiple lenders, you’ll be able to get several quotes from one application.

Not everyone is comfortable applying for financing at a bank or credit union. You’ll almost certainly have to sit down in a branch and complete the application with a lending officer.

But with Eagle Cash Loans, the entire application process takes place online. You can apply from the comfort of your own home.

eagle cash loans logo
Apply Online

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Est. APR
5.99%–35.99%Varies based on lender and qualifications
Max Loan
$35,000Varies based on lender and qualifications
Terms
3–5 yearsVaries based on lender and qualifications

Quick Approval

Eagle Cash Loans claims you can be approved in 90 seconds or less, with funding as early as the next day.

That gives you almost immediate access to funds — a big advantage in an emergency situation — and it eliminates having to wait several days to get a loan approval from a bank loan committee.

The loan funds will be deposited directly into your bank account.

No-Collateral Loans

This is one of the major advantages of personal loans. You can borrow thousands of dollars without putting up collateral (such as your home or car) as security.

You can even use the funds to purchase a vehicle, without having to pledge the vehicle as security for the loan.

In contrast, many people turn to home equity loans as a low-cost source of financing, pledging their home as collateral in case they can’t repay the loan.

With a personal loan, you can access funds without risking your home or anything else.


Who Is Eagle Cash Loans For?

Eagle Cash Loans will work best for borrowers who are looking for larger loan amounts, and have average or better credit. It’s also a good choice for anyone who is looking for collateral-free financing.

Though you can use personal loan funds for any purpose, one of the best is debt consolidation. If you have debt on multiple credit cards with high interest rates, you could roll them into a single installment loan to pay off in three to five years.

Eagle Cash Loans Requirements

Because Eagle Cash Loans is a marketplace, you’ll face a variety of lender requirements. But some general requirements apply. You must:

  • Have a valid checking or savings account with direct deposit.
  • Be at least 18 years old.
  • Be a U.S. citizen or permanent resident.
  • Have a minimum income of $800 per month.

Each lender will likely have more specific information and documentation requirements before it’ll approve you for a loan.

Credit Score Requirements

Though Eagle Cash Loans indicates it may be able to connect you with lenders that offer loans for impaired credit, approval on a personal loan is much more likely if you have at least fair credit.

While you may be able to borrow up to $35,000 if you have good or excellent credit, you may not get nearly that much if you have fair credit or worse.

In addition, your credit score will have a direct impact on the rate and fees you’ll pay for your loan.

With fair credit, it’s likely you’ll pay an APR closer to the maximum of 35.99%, as well as at least 6% in origination fees — though all of these details vary by lender.

Eagle Cash Loans Cost

Eagle Cash Loans does not charge a fee for using the platform. Instead, the company is compensated by participating lenders as each borrower successfully obtains financing.

Specific APR and fees are determined by each lender. These will vary by state, loan amount, term, and your creditworthiness.

Though the site doesn’t give any specific information on interest rates and fees, the typical APR range for personal loans is between 5.99% and 35.99%.

You should also expect to pay an origination fee that will range between 1% and 6% of your loan amount. The amount will depend on your creditworthiness, the loan amount, and the term.

If you’re required to pay an origination fee, it will be deducted from your loan proceeds upon funding.

For example, if you’re approved for a $25,000 personal loan, a 6% origination fee of $1,500 would be deducted from your loan proceeds. This will give you net loan proceeds of $23,500, though you will be obligated to repay the full $25,000 face amount over the term of the loan.

Many personal loan lenders will not impose a prepayment penalty should you pay off your loan early. But be sure to check with your lender, and carefully read all terms and conditions of the loan.

Eagle Cash Loans Alternatives

The good news is that the personal loan space has gotten crowded in the past 10 years or so. There’s a lending source for just about any type of loan and credit level.

Most of them operate online, so you can apply from wherever you live.

Fiona is another online personal loan marketplace catering to fair to excellent credit. You can fill out an application through Fiona and see quotes from multiple lenders.

Fiona lenders offer loans up to $35,000 with interest rates starting at 5.99%. Participating lenders include well-known names like Lending Club, Prosper, and SoFi.

Probably the lending source that will provide the largest lender network is Lending Tree. The site is a marketplace for every type of loan and credit level: personal loans, auto loans, mortgages, home equity lines, credit cards, and student loans.

If you have poor credit, you may be able to find financing through BadCreditLoans, an online marketplace for borrowers with bad credit. It helps you find installment loans for up to $5,000 with terms up to five years.

Some network lenders over a bad credit score and may let you borrow with a bank account and a steady paycheck

How to Apply for a Loan Through Eagle Cash Loans

The application, which is entirely online, uses a five-step process. You’ll provide:

  • Desired loan amount and purpose.
  • Your email.
  • Social Security number.
  • Address and phone number.
  • Date of birth.
  • Home ownership details.
  • Employment information and contact.
  • Frequency of pay.
  • Bank account information, including routing and account number.
  • Estimated credit score and bankruptcy history.
  • Driver’s license number and state.

In giving Eagle Cash Loans your information, you’ll provide your consent to receive offers from participating lenders.

For security purposes, the information provided in your application is encrypted with 256-bit secure socket layer (SSL) protection.

eagle cash loans logo
Apply Online

We earn a commission on this offer.

Est. APR
5.99%–35.99%Varies based on lender and qualifications
Max Loan
$35,000Varies based on lender and qualifications
Terms
3–5 yearsVaries based on lender and qualifications

Approval & Funding

Once you’ve completed your application, you should receive a quote from an interested lender within 90 seconds. You’ll only be connected with a lender if you’re determined to be qualified based on your application.

Though much of your personal information may be verified through online third-party sources, a lender may require additional information or documents before approving your loan.

Eagle Cash Loans advises that funds will be available in your account as early as the next business day.

Fast approval depends on having an active checking account, direct deposit, and income. If you don’t, the approval process may be delayed.

Eagle Cash Loans warns that not all applicants will receive an offer. You will need to qualify based on your creditworthiness, income, employment, and other factors.

Eagle Cash Loans Pros & Cons

Eagle Cash Loans Pros

  • The online marketplace makes approval more likely than with a single lender.
  • Online application eliminates face-to-face meetings.
  • Fast approval and funding.
  • No collateral requirement.
  • High loan amounts.

Eagle Cash Loans Cons

  • Loans require an active checking account with direct deposit.
  • Large personal loans require decent credit.

Author:

Kevin Mercadante

Kevin Mercadante is a freelance personal finance blogger and the owner of his own personal finance blog, Out of Your Rut.  A recent transplant to New England, he has backgrounds in both accounting and the mortgage industry.

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