- 1 What is Same Day Loans 365?
- 2 Technical Characteristics of the Website
- 3 Is SameDayLoans365.org Legit?
- 4 SameDayLoans365.org Reviews
- 5 Customer Support
- 6 Conclusion
What is Same Day Loans 365?
Same Day Loans 365 is a free online lender matching service which connects a customer with a suitable lender for his particular case. They claim to be a trusted website with a qualified team and a simple application process. The company works with a large network of lenders who are able to make a loa offer based on your needs and regardless of your financial situation. Their top priority is to educate people on financial issues and help them solve these problems. So, they post interesting and informative articles about handling finances responsibly.
|Loan types||Min. amount||Max. amount||Period||APR||Documents required||Bad credit|
|Installment loans||$1,000||$5,000||Up to 24 months||Varies by lender||Social Security Number, Driver’s License or State ID, a paycheck or letter on behalf of the employer||Yes|
|Payday loans||$100||$1,000||2-4 weeks||200% – 600%||Social Security Number, Driver’s License or State ID, a paycheck or letter on behalf of the employer||Yes|
|Personal loans||$1,000||$35,000||12 – 60 months||6% – 36%||Social Security Number, Driver’s License OR State ID, a paycheck or letter on behalf of the employer||Yes|
Types of Loans
SameDayLoans365.org provides short-term (payday) and long-term (personal / installment) loans.
- A payday loan is a short-term unsecured loan, which does not require a collateral and comes with a high APR;
- A personal loan is an installment loan, which comes with a lower APR and is repaid over a longer period in several scheduled payments, also knows as installments.
Long-term loans are usually taken for urgent situations, for example, to pay for medical bills and solve health problems, to repair a car, to do an urgent home repair, to cancel an existing debt, to cover unexpected travel expenses, etc.
Installment loans are very popular due to several reasons:
- they may help improve a credit history when repaid successfully;
- you can borrow higher amounts of money;
- you can make several payments instead of one. This is especially convenient for people who cannot afford to repay the loan in one single payment;
- you can be approved even if you have a bad credit;
- they are cheaper than payday loans.
However, being an honest company, Same Day Loans365 also lists the disadvantages of installment loans:
- liability for a longer period of time;
- high interest rates compared to credit cards;
- Non-payment can negatively affect your credit score;
- Some lenders can check your credit.
Advantages of payday loans are also presented on the website:
- liability for a short period of time;
- they save time since you do not have to leave your home or workplace to apply;
- the application process and approval are quick;
- you can be approved even if you have bad credit or no credit.
Disadvantages of payday loans:
- a payday loan extension may be very expensive;
- the lender might discuss your debt with your relatives or employer;
- the APRs are high.
You need to consider this information before applying.
According to the website, the lender will send the funds into your banking account within 24 hours or on the next business day. Deposit times might depend on a lender and a loan type. Typically, lenders review installment and personal loans longer.
Same Day Loans 365 is not a lender and does not make any credit decisions. That is why the company is not able to provide the visitors of the website with any details regarding the rates and terms of a particular loan product. The website only connects users to suitable lenders. The referral service ensures customers that all the lenders from its network are operating legally and strictly adhere to all regulations and laws.
Matching services are free of charge and you can apply as many time as you wish.
To be approved for a loan, you should meet the following eligibility criteria:
- be at least 18 years of age.
- be a U.S. citizen.
- prove that you have a regular monthly income.
- have an active banking account.
Using this website, you can get a payday loan in the amounts from $100 to $1,000. New customers usually can be approved for loans up to $800, while existing clients can get $1000.
Installment loan amounts range from $1,000 to $5,000. The interest rate is individual and depends on a state. Typically, it ranges between 200% and 600% and depends on a customers’ income, loan amount and credit score.
Personal loans amounts usually range from $1,000 to $35,000. such loans come with an APR which varies from 6% to 36%. Lending periods may range from 12 to 60 months. The exact loan offers will depend on your credit rating, income, state, and some more factors.
The fees may vary by lender. Some of them may charge higher APR, so you need to read loan documents carefully before signing.
The company ensures clients that all the rates and fees are always disclosed and there are no hidden fees connected with any loan type mentioned on this website. A customer will know exactly which sum he is obliged to repay before signing the contract.
You can apply for a loan through SameDayLoans365.org online, at any time of a day, without leaving your home or office. The process takes only a few minutes.
During application, you will need to type in your full name, address, date of birth, employment details, driver’s license or state-issued ID, SSN, banking account details, and some more.
In some cases, a lender may ask you to fax a paycheck or letter on behalf of your employer, so you should have a fax machine at hand.
A good thing is that you do not need to use your car or other valuables as collateral since these loans are unsecured.
If you are approved for an installment loan, you will have to repay it in several fixed amounts (typically every month). The repayment schedule will be disclosed in your contract.
If you are approved for a payday loan, you will have to pay it off on the next day you receive your wages. The original loan amount + interest will be automatically taken from your bank account.
So, payday loans are repaid in one amount, on the day you get paid, while installment loans are repaid in several installments over the specified period of time.
Those who delay a payment will be charged late fees. Every lender has its own fees but they can make a loan very expensive. Late fees accumulate daily until you repay the total amount you owe. A failure to repay a loan on time can also negatively affect your credit score.
If you fail with loan repayment, your lender can initiate collection practices. They also vary depending on your state. Most lenders do not sell your debt to third-party collection agencies. Instead, they try to collect the debt on their own by using a phone, email, or text messages. You need to check the information about collection practices in your contract. Bear in mind that any lender from the network of Same Day Loans 365 has the right to report your repayment failure to the major credit reporting agencies.
If you realize that you will have difficulty repaying your loan on the due day, you should contact your lender immediately. Lenders are typically willing to help their clients and review a payment schedule.
Same Day Loans 365 is not able to extend your loans this company is not a lender, If you want to extend your loan, you need to contact your lender directly and discuss the available options. They usually can offer you an extension if it is legal in your location, but this will result in extra fees. It is mentioned on the website that some lenders can extend your payday loan for 45 days.
They also mentioned that customers can have only one installment loan at a time. However, they can mix various loan types.
SameDayLoans365.org Bad Credit
According to the website, you can be approved for a loan even if you have a poor credit or no credit. Many lenders do not check your credit score. Borrowers with bad credit usually apply for payday loans because they are designed specifically for people with credit problems. If you repay your loan on time, this can help you improve your credit history. But if you fail to make a timely payment, this may affect your credit score negatively, so you should read the contract carefully.
Technical Characteristics of the Website
We protect customers info with advanced encryption technology, keeping your SameDayLoans365.org protects users’ personal information by using a standard 128-bit SSL encryption protocol. This is kind of guarantee that clients’ private information will not be stolen by third parties. The secure connection is provided by Let’s Encrypt:
The thing is that a 128-bit encryption is not as strong as a 256-bit encryption. But in general, a 128 bits encryption may be enough to secure your sensitive data against anybody who would try to get access to the encrypted files. I would recommend the site’s owner to upgrade an encryption protocol.
Today, most people are using mobile phones and tablets to buy goods and even apply for a loan online. SameDayLoans365.org is a mobile-friendly website which is convenient to use for all customers regardless of a device they use to apply for a loan.
The content presented on the mobile version differs a bit but at the same time have all the basic elements. The site has no secondary information and pictures are reduced for a faster loading.
The mobile version has a high degree of usability. It is equipped with simple navigation using buttons and links. Enlarged buttons are especially convenient for navigating the website using a mobile device.
Websites like SameDayLoans365.org must have up-to-date antivirus programs that are able to secure users’ sensitive information from hacking. Besides. It would be nice to know that you will not infect your computer with viruses. Regretfully, there is no antivirus on this website, which means users have an increased risk of being infected with online threats. I consider the absence of antivirus is a serious drawback. I recommend the site’s owner to pay attention to this aspect.
The Convenience of Using the Website
Same Day Loans 365 has invented a system that connects a consumer with a trusted USA lender. You can start an online application without registration and it only takes a couple of minutes to complete. After reviewing your personal and financial data, the website will provide you with a list of suitable loan offers.
If you are a first-time borrower, you will have to complete an online application. After processing your request, the lender will approve you within a minute or even quicker. Existing clients can save time and just log in to the system.
To start an application, you only need to choose the desired amount and click the “Apply now” button:
All in all, you need to follow 3 simple steps:
- Complete an easy application;
- Wait for an approval and e-sign your contract;
- Get your funds within 24 hours.
In general, the application process is simple. Besides, I like that the website is very informative but do not forget that it’s only a link to a direct lender.
Is SameDayLoans365.org Legit?
I checked the company’s credibility using ScamAdviser.com. The verification service gave this referral website only 70% out of 100% because this site involves a high-risk country.
ScamAdviser determined the website’s owner – Alexandr Nazarov fromNovokuibyshevsk. This means that this website might be from the Russian Federation. Besides, it may relate to the Netherlands. The website was created 3 years ago and has very few visitors. This means that this referral service is unpopular.
The revealed issues about this company worry me and I have doubts about the site’s legitimacy. Review this information carefully before applying for a loan.
The native website of Same Day Loans 365 does not have a testimonial page but does have some “customer reviews” posted on the front page. Reginald Williams from MS has always had a great experience with this company because they are qualified and responsible. Shaunee McNeil from TX was approved for a loan quickly and without any problems. He had some questions about their services but the team was patient and responsive. George Bullock from MI got a $800 loan through this website. He also mentioned that education articles posted on the site were very helpful.
I have doubts about the genuinity of these comments because they could be filtered or even composed by the website’s owner. Besides, they are not dated and it’s not clear whether they are fresh or old.
Reviews on Independent Websites
Regretfully, I did not find a single Same Day Loans 365 review on independent third-party websites. This confirms that this company is unpopular. The absence of customer comments undermined my trust in this loan-matching service. If you ever come across testimonials about this company, let me know by leaving a comment below.
Fortunately, Same Day Loans 365 listed a very detailed contact information:
- address: 1425 W Elliot Rd, #208 Gilbert, AZ 85233;
- phone number: 1-877-2721-787;
- e-mail: email@example.com;
- application hours: 24/7;
- office hours: Monday-Friday: 10 am-4 pm.
There is even information about their financial experts: Adrian Moreno (financial advisor, Georgetown University) and Casey Bond – personal finance writer and editor.
It nice that they try to be as transparent as possible. Many loan-matching services do not even provide an email address for communication.
According to the website, you will not be able to apply for a loan using this website if you live a state that prohibits payday loans: Arizona, Arkansas, New York, New Jersey, Connecticut, Georgia, Vermont, North Carolina, Pennsylvania, Massachusetts, Maryland, the District of Columbia. The company mentions that this list may change at any time so you need to check loan availability in your state before applying.
Getting a Consultation
Same Day Loans 365 claim to care about all their clients who have any questions, concerns or suggestions. They encourage clients to contact them via contact form available on the “Contact Us” page.
They promise to reply within 24 hours. If you have any questions about your existing loan (rates, terms, late fees, extension, etc.), you need to contact your lender directly since the referral service does not possess any details about a particular loan.
I decided to contact the company’s customer support by using a suggested option – a contact form. I wanted to find out how many lenders were included in the network of this company. I waited for 12 hours but nobody answered. I just could not wait any longer. Obviously, their customer care department needs to be improved.
SameDayLoans365.org has a questionable reputation. I admit that the company has many advantages: their lenders offer high loan amounts and competitive interest rates, do not check a credit score, give a chance to improve or establish credit, a customer can choose from several loan offers, the service is 100% online, loans require no collateral, lenders transfer the borrowed funds quickly, the website has a simple loan request form and accepts applications 24/7, lenders from its network allow loan extending. However, I cannot ignore the following facts: the website might be owned by the Russian Federation and seems to have poorly-organized customer support. Besides, there are no customer reviews on the net. I do not recommend you applying for a loan through this website since I have doubts about its legitimacy but if you want to be better financially educated, you can read useful articles posted on its blog.