Tower Loan mainly received good reviews from customers. Trustpilot gave Tower Loan a rating of 4.75.
The Better Business Bureau website has fewer positive reviews.
What do you need?
Tower Loan Highlights
Tower Loans can be used to finance personal or business purposes.
Soft Credit Pull – Pre-qualify
Tower Loan can be contacted in person to assist with loan applications. They accept online applications.
We are not sure if online applications include a soft credit pull or if they will affect your credit score.
It is possible to do this online. You will need:
- Contact information and Personal information
- your financial records
- Employment proof
Accepted
Tower Loans require proof of employment to obtain a loan. The loan does not disclose acceptable debt-to-income ratios.
Line of Credit
Specializes in personal loans. A fixed interest rate can be applied to the loan for a set period.
Credit Health Tools
Personal loans can be used to pay for medical bills or medication payments.
Hardship programs
Does not currently offer any information on assistance programs for loan repayment.
If you are having trouble paying your loan, you may have to consider other options.
No Prepayment Penalty
Won’t penalize you if you repay your loan early, and offers an online portal that allows you to make lump-sum payments anytime you like.
Unsecured Loans
Tower Loans offer personal loans that can be unsecured or secured, depending on the client’s financial situation.
Fees
Doesn’t disclose the fee structure. The loan can be paid off early, but there is no prepayment fee
How to Qualify
To be eligible you must meet these criteria:
- 18-year-old (19 in Alabama). Or older
- Living in Mississippi, Alabama, or Missouri.
- Have a job or an income source.
- Please enter a valid email address
- Open a checking/savings account
The bottom line
Tower Loan is a well-known player in the financial industry.
Upstart offers many repayment plans, including hardship programs that temporarily suspend repayment.
Onemain Financial may be a good choice. They have similar industry experience and loan amounts.
Tags
information purposes only
I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go. I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.
