fastloandirect-review
Updated March 09, 2022

FastLoanDirect Review

Personal Loans
  • FastLoanDirect
    FastLoanDirect
    • Best For: Users that do not have any other options for personal loans. There are signs of untrustworthiness that make the site not worth using.
    • Pros: The site is user-friendly, and the application process is fairly quick to get through.
    • Cons: Consumer reviews mention having to pay the company directly to receive their loans. They currently have an F rating with the Better Business Bureau.
    APR: 5/10
     
    Fees: 5/10
     
    Transparency: 2/10
     
    Flexibility: 6/10
     
    Funding Speed: 9/10
     
    Accessibility: 7/10
     
    • APR:

      5.99 - 35.99%

    • MINIMUM CREDIT:

      Not Disclosed

    • TERMS:

      91 days - 72 months

    • ORIGINATION FEE:

      Varies by lender

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FastLoanDirect is a loan comparison site that promises to provide users with personal loans regardless of credit score.

In our FastLoanDirect review, we will go over everything you need to know about this company to help you decide if it’s right for you.

What Is FastLoanDirect?

FastLoanDirect is one of many loan comparison sites available across the web.

What this means is that they will take your personal and financial information to match you with a loan from one of their partner lenders.

Potential users should note that FastLoanDirect is not a lender itself.

That means when you do get your loan, you will no longer be dealing with them.

They are essentially a middleman to help you find various loans with less research on your part.

FastLoanDirect Homepage

FastLoanDirect Highlights

FastLoanDirect provides users with loans from their network of lenders, known as “Network Partners” on their site.

Somewhat unique to FastLoanDirect is the very low minimum loan amount that users can request.

Whereas most of the competition has a minimum loan of either $1,000 or $5,000, FastLoanDirect allows users to request a loan as small as $100.

Whether or not a loan of that amount is worth it is up to you, but it should be noted that is about as low as it gets.

Another thing to note is that the service is completely free.

When you use FastLoanDirect, you will get offers for loans without needing to pay.

Of course, you will need to pay the lender once you receive a loan, but researching with FastLoanDirect comes at no cost.

Later in our FastLoanDirect review, you will see that we have found plenty of inconsistencies and potential issues with the service.

While ultimately it’s up to you when choosing what service you use, there are a lot of red flags with the company.

FastLoanDirect At a Glance

Loan Amounts$100 - $35,000
APR5.99 - 35.99%
Minimum CreditNot disclosed, but they state “any credit score”
Terms91 days - 72 months
Origination FeeVaries by lender
Funding Speed1 business day

APR

The APR of loans available on FastLoanDirect casts a very wide net.

They state their loans offer anywhere from a minimum of 5.99% to a maximum of 35.99%.

This APR range, while it seems impressive, is average at best. Most other loan comparison sites will offer the same range, while some will provide users with an even better minimum APR.

If you have a great credit score and decent financial picture, you may be able to find rates lower than 5.99% elsewhere.

FastLoanDirect-apr

Fees

Using FastLoanDirect is free. Logging on, inputting your information, and being referred to a loan will cost you nothing.

However, don’t make the mistake of thinking that this means there are no fees associated with your loans.

Since FastLoanDirect is not a lender, they have no say in the fees assessed by the lenders.

Be aware of various fees that will be levied such as late payment fees, origination fees, and pre-payment fees.

Transparency

I am not a fan of the transparency of FastLoanDirect.

Nowhere on the website do they list the lenders that they work with, and I found a few inconsistencies in their marketing.

The website has multiple places where they are trying to market to local consumers by putting their state, but on my visit to the site, it said “invalid” everywhere instead of the particular state.

For example, one section says “Millions of dollars funded in Invalid for 2022.”

To me, this reduces the trustworthiness of the site significantly and makes me wary to use it.

FastLoanDirect Transparency

Flexibility

The flexibility offered by FastLoanDirect is not too bad when compared to similar sites.

The terms offered (91 days to 72 months) are pretty good for a personal loan and should satisfy most people looking for loans.

Other than that, there isn’t much flexibility on loan details, but that isn’t necessarily the fault of FastLoanDirect.

It is more a characteristic of being a marketplace rather than a lender.

If you are looking for more flexibility and customization, it’s best to go directly through a lender.

Funding Speed

FastLoanDirect states that users will get the funds for their loan in as little as one business day.

This is typical of most sites and is neither an advantage nor a disadvantage in my opinion.

FastLoanDirect Funding Speed

Accessibility

Considering the demographic of most users of FastLoanDirect, I would say the accessibility is fairly decent.

According to their marketing, they cater to people of all credit scores.

This is helpful for those in a poor financial situation that may need some extra help.

Besides that, the requirements are typical of any other loan in the US.

Users will need to be US citizens, have a bank account for fund disbursement, and be at least 18 years old.

Other Features

There are no other features to note on FastLoanDirect.

This is a good thing in my opinion as the lack of extra features makes the site easy to use and straightforward for users.

Consumers looking for more robust features and options other than personal loans should look towards a different site.


How to Apply at FastLoanDirect

With the website being so simple, the application process is quick and easy to do.

Here is how to go through the whole process at FastLoanDirect.

Step 1: Choose the Loan Amount You Want and Click “Continue”

Go to FastLoanDirect.com and start the process directly from the home page. Choose the loan amount you desire, click continue, and move on to the next step.

FastLoanDirect Step1

Step 2: Fill Out Your Demographic Information

FastLoanDirect will ask for your demographic and financial information.

Be prepared to input sensitive information such as your Social Security number and bank account information.

FastLoanDirect Step2

Step 3: Choose a Loan From the List

From here, you will be presented with various options from FastLoanDirects network of lenders.

Once you select a loan, you will be taken off of the website and work directly with the lender from that moment forward.

FastLoanDirect Consumer Reviews

One of the best ways to judge the trustworthiness of a business is by consumer reviews. Let’s see how FastLoanDirect fares.

Better Business Bureau

FastLoanDirect currently is rated an F with the Better Business Bureau.

They are not BBB accredited, which is not surprising given the low rating.

As far as customer reviews go, on the BBB website FastLoanDirect has a 3 star rating based on 2 reviews.

FastLoanDirect BBB

On TrustPilot, there are no available consumer reviews for FastLoanDirect.

I’m unable to find any other consumer reviews online, which makes the service difficult to judge the legitimacy of.

ReviewerIssueMy Take
Anonymous on 7/14/2021This user states that after being approved for the loan, they were asked to send money in order to receive the loan. They stated this happened multiple times and added up to nearly $1,000.This is not a normal practice. There are some fees associated with loans such as an origination fee, but you should never continually be asked to send money before you can actually receive your loan.

This seems predatory and if true could possibly be illegal.
DustyDusty stated that he paid $150 and is now being asked to send another $350 in order to have a red flag removed from his account.This is another example of users being asked to pay in order to receive their money. This seems to be a scam and is not how any proper loan company should work.
Anonymous on 4/19/2019This user stated that he was approved for a $5,000 loan and was forced to pay a $500 Moneygram fee to receive the loan.There are not many consumer reviews online for FastLoanDirect, but it seems the majority of the ones I can find involve users having to pay exorbitant fees in order to receive their money.

This is not normal and is a huge red flag for anyone that is thinking of using them.

Is FastLoanDirect Legit?

Based on the information I have found online, I would actually venture to say the FastLoanDirect is not legit.

There are many stories of consumers being forced to pay fees and a lot of money to even receive their loans.

While there is still the possibility that the company is legitimate, there are many other companies providing the same service that have a much less spotty record.

FastLoanDirect Pros and Cons

FastLoanDirect is an untrustworthy site that may not even do what they say they will.

Pros

  • User Friendly: FastLoanPro is user-friendly and makes the application process simple.
  • Decent APR and Terms: Offering rates as low as 5.99% and a wide length of terms give users plenty of loan options.

Cons

  • Bad Consumer Reviews: The reviews make FastLoanDirect seem very untrustworthy and downright scammy. Plenty of other trustworthy companies offer the same service.
  • Need to Input Bank Account Info on Application: I don’t like this. You need to input your routing number and account number to even apply.
  • Lower Rates Offered Elsewhere: There are some lenders that offer rates in the 2% range, much better than the minimum 5.99% offered here.

Who FastLoanDirect Is Good For

If you have no other options, FastLoanDirect may be a good option.

However, there are a lot of red flags and signs that the site may not even be legit, so I would steer clear of them.

Who FastLoanDirect Is Not Good For

Most consumers. The website has issues with its trustworthiness and the consumer reviews provide plenty of evidence displaying financial malpractice.

The rates offered are not even more competitive than most others, so users would be smart to steer clear of FastLoanDirect.

Alternatives to FastLoanDirect

 FastLoanDirectPersonalLoans.com CashUSABadCreditLoans.com
 
Best For
  • Users who do not have any other loan options.
  • People who don’t have the best credit scores
  • People who need small loans fast and who have bad credit
  • People with bad credit who need fast money
Loan Amounts
  • $100 - $35,000
  • $1,000-$35,000
  • $500-$10,000
  • $500-$5,000
APR
  • 5.99 - 35.99%
  • 5.99%-35.99%
  • Typically 5.99%-35.99%
  • Typically 5.99%-35.99%
Minimum Credit
  • Not disclosed
  • 580
  • Not disclosed
  • No minimum
Terms
  • 91 days to 72 months
  • 91 days to 72 months
  • Not disclosed
  • Not disclosed
Origination Fee
  • Not disclosed
  • Varies
  • Not disclosed
  • Not disclosed
Funding Speed
  • 1 business day
  • As soon as one day
  • As soon as one day
  • As soon as one day
Credit Check
  • Not disclosed
  • May be hard or soft
  • Soft
  • Soft
 

FastLoanDirect Frequently Asked Questions

  • Is there a fee for using FastLoanDirect?

    There are no fees for applying and qualifying for a loan. However, many reviews online state that they were charged money by the company to actually receive their funds.

  • What can I use the loans for?

    Personal loans can be used for nearly any expense. Common uses are home remodels, medical expenses, weddings, and debt consolidation.

Author:

Evan Diaz, MBA

Evan Diaz, MBA, covers personal finance topics for Money Done Right. After getting his MBA and working in investment banking, Evan began writing full-time. He's an avid investor and has a passion for helping people improve their finances.

Reviewer:

Logan Allec, CPA

Logan is a practicing CPA and founder of Choice Tax Relief and Money Done Right. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.

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Scott
Scott
1 month ago

Thank You it was very informing and my six sense was correct not to mention I saw some of thing inconsistency.