FAQ
Products
- Who is Mr. Amazing Loans?
- Where are Mr. Amazing Loans’ personal loans available?
- What are the advantages of a personal loan from Mr. Amazing Loans?
- What loan products does Mr. Amazing Loans offer?
- How much is the interest?
- What are the fees?
- How is a personal loan from Mr. Amazing Loans different from a payday loan?
- What can I use my personal loan for?
Application
- How do I apply for a personal loan?
- How do I know if I will qualify for a personal loan?
- How long does the online application process take?
- What can I expect after I have submitted my application?
- How fast will my loan be funded?
Payoff
- How can I repay my loan?
- What if I am able to repay my loan early?
- What if i can't make an upcoming payment or fall behind on my loan?
Applicant Info
Answers
Products
Who is Mr. Amazing Loans?
Mr. Amazing Loans is a state licensed consumer lender operating in the United States. We currently offer personal loans to residents of California, Georgia, Illinois, Nevada, and New Jersey. Our personal loan products are an attractive alternative to expensive payday lenders and our efficient online application process means you can have the money you need much faster than if you had to deal with a bank or credit union.
All of our personal loans feature affordable fixed repayments and the flexibility to be paid off at any time without any prepayment penalty or additional fees.
Where are Mr. Amazing Loans’ personal loans available?
We're a licensed direct lender with state licenses and/or certificates of authority to lend to residents of California, Georgia, Illinois, Nevada, and New Jersey!
What are the advantages of a personal loan from Mr. Amazing Loans?
- Every loan application is individually assessed
- Affordable interest rates and repayments
- No hidden or additional fees
- No prepayment penalty
- Your repayment and interest rate are fixed for the life of your loan
- You know exactly what you owe at all times and exactly when it will be paid off
- You are free to use the proceeds of our loans for any purpose
What loan products does Mr. Amazing Loans offer?
We offer $5,000 and $10,000 consumer installment loans. All of our personal loans have equal fixed repayments and are fully amortizing, which means you pay back both the interest and principal with each repayment until the loan is paid off.
Exact loan terms vary depending on your state of residency and loan size. Enter your state and desired loan size into our Payment Calculator for an estimated repayment size and loan term. When you complete our online application, a Loan Officer will be in touch to discuss the loan application and provide details of the personal loan options to suit your needs.
How much is the interest?
All of our loans are 29.9% or less Annual Percentage Rate (APR).
Exact loan terms vary depending on your state of residency and loan size. When you complete our online application, a Loan Officer will be in touch to discuss the loan application and provide details of the personal loan options to suit your needs.
What are the fees?
At Mr. Amazing Loans, we pride ourselves on providing transparent personal loans products without any hidden or additional fees. All of our loans are 29.9% or less APR.
Additionally, you will be charged up to $10 depending on your state regulations for any missed payments. There are no other fees associated with our personal loan products with the exception of state regulated return item fees.
How is a personal loan from Mr. Amazing Loans different from a payday loan?
Our personal installment loans are very different from payday loans in a number of ways:
- Interest Rate: All of our loans are 29.9% or less APR depending on your state of residency and amount borrowed, while the Center for Responsible Lending states the typical payday loan has rates ranging from 391% - 521% APR.
- Loan Amount: Our loans are $5,000 and $10,000 compared to payday loans which typically range from $100 - $1,000.
- Term: Our loans have 5 years terms compared to a typical 2 week payday loan. In our view, if a customer needs $1,000 today, they usually aren’t going to be able to pay $1,000 plus interest back in 2 weeks’ time. That is why we give you time to pay back your loan with fixed low repayments, and flexibility to repay early if you can.
- Principal Amortization: Our loans are fully amortizing over the life of the loan, whereas payday loans are designed to be subsequently rolled over into subsequent loans, often trapping consumers in a cycle of debt.
- Customer Benefit: We care about our customers and that is why our loans are designed with low fixed repayments to fit into your budget. Ultimately we want to support you with your credit needs and help you reach a stronger financial position.
What can I use my personal loan for?
You are free to use our personal loans for any purpose.
Common uses that our customers tell us our loans have benefited them include:
- Debt consolidation
- Bill payments
- Household improvements
- Education expenses
- Medical expenses
- Car repairs
- Major purchases e.g. new TV
- Discretionary spending e.g. family holiday
Application
How do I apply for a personal loan?
To apply for a personal loan from us you just need to complete our simple online application.
How do I know if I will qualify for a personal loan?
Loan approvals are based on a variety of factors, including your credit history. You can review the Qualification Criteria page for a list of our minimum requirements.
How long does the online application process take?
The application process is fast and easy. Most people complete the entire process in 5 minutes or less.
What can I expect after I have submitted my application?
A loan officer will contact you with an initial assessment and next steps to get your loan. Please see What to Expect for further information.
How fast will my loan be funded?
We deposit loan funds directly into your checking account and are able to fund loans as quickly as the same day you apply, provided we receive the required underwriting documentation and signed loan documents from you in time.
Payoff
How can I repay my loan?
Our preferred method of payment is via Electronic Fund Transfer (ACH) which is an automatic electronic debit from your bank account for the amount you owe on the due date. Using ACH eliminates the need for you to initiate a payment transaction each week and means you never have to worry about forgetting a due date again.
We also offer other payment options to suit your needs. Call 702-227-5626 to speak to one of our Loan Officers.
What if I am able to repay my loan early?
At Mr. Amazing Loans, we are happy when our customers are able to repay their loan early. It means that our personal loan provided you the credit you needed at the time and helped you reach a stronger financial position. That’s why all of our loans can be prepaid at any time ahead of schedule with no prepayment penalty and no additional fees or cost to you.
Of course if you do pay off your personal loan with us early and find yourself in need of credit again in the future, Mr. Amazing Loans will be here to help.
What if i can't make an upcoming payment or fall behind on my loan?
At Mr. Amazing Loans, we care about our customers and are always there for them. If you find that you can't make an upcoming payment on your loan or have already missed a scheduled payment, call our friendly Loan Officers at 702-227-5626. Our Loan Officers are there to help you and may be able to adjust your repayment date or set up a payment plan to help you get back on track.
Applicant Info
What is your privacy policy?
Our privacy policy can be found here.
Why do you need my bank account information?
We need your bank account information because that’s how you’ll receive your loan. Once you’re approved, the money will be sent to your account.
Do you check my credit?
Yes, once you submit your online application with authorization we pull your credit report and a Loan Officer reviews your credit history. Make sure to read our Qualification Criteria page for a list of our minimum requirements before applying for a loan.
