Who Should Read an Even Financial Review?
Simply put, this review is here to help you navigate through the oftentimes confusing, overwhelming world of online personal loan marketplaces that might even look risky right off the bat.
Having that in mind, Even Financial might be the best option for those who need fast financial assistance or emergency funding or those who want to get the necessary money in the form of a personal online loan without having to go to the bank.
The easy-to-use interface of the marketplace will make sure that all those looking for the best lenders find them along with their deals.
When you apply for a loan, you’ll use Fiona, the platform’s own search engine. Within minutes, you can start viewing and comparing different vendors and their offers.
All in all, Even Financial personal loans can be a great alternative for people who are tired of the lengthy loan approval processes in traditional financial institutions.
What You Need to Know About Even Financial
To be precise, Even Financial is a fintech firm that specializes in providing B2B2C (business to business to consumer) API (application programming interface) services for financial processes and services.
To keep it more focused, and to-the-point, this Even Financial review will scrutinize the company more from the standpoint of customers rather than from the standpoint of their financial clients.
From that perspective, the digital marketplace helps customers get in touch with the right financial vendors to get a loan, a credit card, or other financial services, (for example, you can use Even Financial for insurance).
Financial experts point out that there are quite a few positives to using Even Financial.
It’s a trusted and experienced service for starters, as in 2017 alone, the platform originated over $200 million in personal loans and managed to process $5 billion in applications from consumers.
Another pro that experts often mention is that Even Financial’s pre-approval process does not affect your credit score, as they only perform a soft pull.
Is Even Financial legit? As a service with an A-rating from the BBB since 2015, it’s safe to say that it is.
By now, you can see that the platform is among the most trusted in the country. To top it off, it can also offer additional benefits in the form of useful tools like their online debt refinancing calculator.
Lastly, Even can also be a great resource for education, as it offers a comprehensive FAQ section along with a useful blog for potential borrowers.
The Application Process
Submitting your loan request is a simple and straightforward process. To get started, you’ll have to visit the company’s website, click on “Get Started” and start applying for credit cards, personal loans, savings accounts, etc.
To get an Even Financial loan, you will use Fiona, the company’s dedicated search engine.
Once here, you will have to enter your Zip code, credit score, loan purpose, and the amount of money you are looking to get.
Additionally, if you opt for a personal loan, you can choose from the following types:
- Credit card refinance
- Debt consolidation
- Large purchase
- Home Improvement
- Green Loan
- Medical and dental
- Household expenses
During the application for Even Financial loans, you will see the estimated APR, which will depend on your credit score. The better your credit is, the lower the rates.
Once done here, click “Continue” and provide the following info:
- Birth Date
- First Name
- Last Name
- Real estate ownership
- Address (Street)
- Zip Code
- Pay frequency
- Social Security number
Once you’ve filled out everything, the search engine will start looking for potential vendors who meet your loan criteria.
Even Financial Key Features
Now that you know how the application process looks, it’s time to see the qualities that separate Evans Financial from the others.
Latest Even Financial reviews mention the BBB-accreditation most often as a highly sought-after feature. As already stated, the company has managed to get an A-rating since 2015, which truly speaks of professional services and reliability.
Loan Rates and Fees
The APR listed on the official site starts at 4.99%, but you should know that this is only an estimate that Fiona will usually display every time you view the loan options.
If you want to see the entire deal when you’re viewing a potential offer, you will have to click on the “disclaimer and more info” option to see the entire offer and fee details.
Also, the fees are ultimately determined by the lender. Thus, nearly all Even Financial personal loans reviews highly advise potential borrowers to reach out to them and check every detail of the loan deal so they can calculate every potential fee and charge.
Even Financial isn’t your direct lender, meaning that repayment terms on the platform won’t be determined by it. Instead, lenders will regulate the conditions of repayment schedules (just like fees). As mentioned before in this review of Even Financial’s services, don’t hesitate to reach out to a potential lender if you have any questions regarding their offers. When doing so, you can also inquire about repayment terms, preferred payment methods, and other important details to ensure getting the best offer.
Personal Loan Terms
Requirements for getting a loan aren’t that high if you wish to apply through Fiona.
Applicants must be:
- 18 or older
- Must be a permanent US resident or have US citizenship
After application, borrowers can get a loan of $1,000 to $100,000, with terms that range from 24 to 84 months.
When you use the Even Financial app, you should know that a lot of requirements will be defined by the lender.
Vendors will have their own credit requirements, but you will receive offers even with a lower score, but this will significantly impact the APR, which can go as high as 35.99%.
As far as credit goes, vendors might perform a “soft pull” on credit that may get recorded in your report but won’t damage your score. Based on the results, you can get pre-approval from your lenders. Once you get matched with a provider, though, they can also perform a hard inquiry that can harm your overall score.
Even is a responsible finance option in terms of customer support, as you can see all the contact info listed on the website. You can reach them via email, submit an online form, or you can even call them on the phone.
There’s no live chat option, which might be the best option for onsite live help; however, they have most support bases covered, which is essential for running an online financial marketplace.
The other thing that can be pointed out as a huge positive is the comprehensive FAQs section along with a myriad of blogs users have at their fingertips. These sources can all provide valuable info and can help potential borrowers navigate easily through different vendors and deals.
Is Even Financial safe? Without a doubt, most potential borrowers will ask this question in the earliest stages of applying for a loan.
Even though the search engine and the platform both use 256-bit encryption, this won’t guarantee absolute data safety. You will indeed get notifications in cases of system security breaches and such, and it’s also true that Even Financial won’t sell your data.
If you aren’t using Even Financial, unsubscribe from their list as well as any other company’s automated email campaign that keeps sending you different offers and proposals that are finance-related. In time, this should solve the privacy issue most users face/faced with Even Financial. Conversely, if you are uneasy about having your data shared, you might want to look into different options.
Even Financial Reviews from Users
Before our final verdict, let’s see how Even Financial and Fiona performed among other users.
We even looked up Even Financial on Glassdoor to hear both sides to the story and gather a bit of insight into how employees perceive the company.
To sum it up, reviewers liked the fast application process, the ability to compare different loans effectively, and the fact that Even Financial manages to do the legwork instead of you in finding the best loan deals.
Employees praised the entire business idea and talked about how these services help reshape the financial sector.
Among the negatives, users pointed out that their personal data was immediately shared with the company’s partners, resulting in a full spam folder shortly afterwards. Also, some consumers only received small loan deals or deals with unrealistically high rates.
Final Words on Even Financial Review
We have come to the end of this review. Now, we will sum up the key features of the platform.
On the positive side, Even Financial is one of the best online financial marketplaces where you can look for personal loan deals and compare to ones that best suit your needs. It’s also a great platform that can get you prequalified for a loan fast, without wreaking havoc on your credit.
The initial loan requirements you give will give you a more realistic picture of the details of the loans that you can get, estimated fees, interest, etc.
Reviews of Even Financial (just like this one) have the biggest problem with security options. While borrower data is safe from hackers, you will still end up getting a lot of spam mail from third parties with different loan offers and automated messages.
Also, the fact that the lenders dictate the majority of requirements might also lead to larger interest rates, origination fees, and other expenses, making the entire process pretty confusing and overwhelming. There’s also the possibility of lenders performing hard pulls on credit scores, which can be downright deterring.
There have also been a few inconsistencies regarding Even Financial’s BBB accreditation, with some sources stating that the platform hasn’t been accredited yet. In contrast, others mention that it has been rated A since 2015.
All in all, Even Financial brings to the table trustworthy and reliable financial services that you can access quickly and set up deals with legit lending companies.
Pros & Cons
- Simple and fast way to acquire a loan
- Large loan options, from $1,000 to $100,000
- Reputable partners
- No credit check needed
- Reviews of Even Financial reveal the marketplace isn’t secure enough
- The loan offers vary based on your creditworthiness
- Fees and rates highly vary
Is Even Financial legit?
From a legal standpoint, yes, Even Financial is legit. As a free platform, it allows you to look for different loan offers, which you can compare and opt for the best one. Your credit score won’t take a blow if you submit an application and it’s not a time-consuming process either.
Is OneMain financial trustworthy?
OneMain Financial can be a great option for those in need of a larger sum of money quickly but have a low credit score. In that sense, the online marketplace is trustworthy; however, financial experts mentioned that the loans could be expensive because rates and fees can be really high.
Even the loan with the most agreeable rate will have somewhere around 18% of APR, which may be more than what you’d otherwise pay for credit card debt balance.
Plus, you will most probably have to pay origination fees and might have to offer your vehicle as collateral. All these can make OneMain Financial risky. However, if you’ve studied the terms thoroughly, you’re not in for unpleasant surprises.
What's the minimum credit score for a personal loan?
The minimum credit score of users who are pre-qualified for personal loans is generally in the 610—640 range.
In the case of Even Financial, the score is 580.
How can I get a loan for $100,000?
If you want to get a $100,000 personal loan, first and foremost, you’ll have to see what kind of interest rate you qualify for. There’s an abundance of different online tools you can use to check the annual percentage rates for $100K as well, without doing damage to your credit score.
For starters, bad credit, a history of bankruptcy are huge red flags and will probably narrow down your options.
After finding the best vendor (start by reading reviews about Even Financial) you should:
- Check your credit score — if you want to use traditional financial methods, for this amount of money, you might need a score of at least 720.
- Learn about your lender’s requirements — check out what’s the approval criteria, and make sure you fit them. Learn about the debt utilization ratio, lender fees, rates, making monthly payments, etc.
- Prepare the necessary paperwork — government-issued identification, bank statements, proof of income—you will need all of these.
You can try getting a loan from banks and credit unions; however, they rarely offer such high personal loans (except for Wells Fargo). That being said, online lenders might be a better option. Hopefully, this Even Financial review will help you to get started with applying one if you’ve been considering it, or at least serve as a good starting point for your search.