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Echo Credit


About lender

Echo Credit is a line of credit provider being a part of Jora, Inc. Jora is a direct lender based in Addison, Texas. It was established in 2017, and is incorporated in Delaware, USA. Echo Credit operates only in 11 states.

The company reports to Equifax, Experian, and Transunion credit bureaus. If you make on-time payments, your credit rating will improve, while if you fail to pay, it will drop.

The line of credit is limited to $4,000 and is a short-time borrowing solution you can opt for to cover your unexpected expenses.

Echo Credit has an A+ rating with BBB, but is not Better Business Bureau accredited.

Pros and cons


  • You don’t need to reapply for the loan in case you want to take another loan.
  • The loan can be withdrawn in portions anytime you need as long as you keep within the credit limit.
  • The qualifying criteria are not strict. You just need to meet the basic requirements. Your credit rating can be low.
  • The company services its own loans and reports to credit bureaus. You don’t need to go to the servicing agency, and your credit score can rise if you make on-time payments.
  • There are no fees, like prepayment fees, late fees, or application fees. However, keep in mind there can be other finance charges you can locate in your loan agreement.


  • The company doesn’t operate in all states.

  • An expensive form of credit. The APRs are triple numbers, and you need to pay them back in the short term.

  • You can only get a line of credit. There are no other options available.

  • If you fail to pay back, the company can sell your account to a collection agency or other companies collecting delinquent consumer debt.

Terms and conditions

Echo Credit offers lines of credit to cover unexpected expenses where you need emergency cash. You can apply once, and your existing account with Echo Credit will allow you to borrow repeatedly.

First-time customers can get loan amounts from $500 to $4,000. The APRs for them typically range from 99% and 349%.

In Utah, the credit limit is between $800 and $4,000, while the APR varies from 99% to 349%, depending on your loan amount.

The company states it doesn’t issue any fees at all, including application fees, cash advance fees, prepayment fees, late fees, or annual fees.

The requirements Echo Credit applies to its customers are:

  • Residing in the state the company serves

  • Being at least 18 years old

  • Having a proven source of income

  • Having a valid email address

  • Having an acceptable checking bank account.

Funding a loan

You need to submit an online application. It is encrypted and safe, so you can provide the company with your Social Security Number, source of income, employment, and checking account info securely. You will get the amount you qualify for. Electronic cash advance requests made before 10.30 am CT Monday through Friday are funded the same day.

To get access to this cash, you can withdraw money from any time to your bank account, up to the credit limit.


Is Echo Credit a direct lender?

Echo Credit is a part of Jora Inc. It is a direct lender established in 2017 and based in Texas.

What loans does Echo Credit have?

Echo Credit only issues lines of credit. It is a more flexible option in terms of withdrawals, and you can take the loan again without reapplying.

What does Echo Credit require for a line of credit?

To get a line of credit with Echo Credit, you need to be at least 18 years old, reside in the state the company services, have a proven source of income, a valid email address, and an acceptable checking bank account.

Do I need good credit to qualify for Echo Credit?

Echo Credit states you don’t need a good credit score to qualify for its service. However, you should keep in mind your interest rate will likely be higher if you apply with bad credit, and your loan will cost more.

How much can I borrow from Echo Credit?

The amount you can borrow varies from state to state. Echo Credit discloses the amounts in its Pricing section. Typically, loan amounts are from $500 to $4,000. The maximum loan amount stays the same - you can’t borrow more than $4,000.

Company documents

Legal Disclosures
Privacy Disclosure
Terms of Use

Echo Credit is here to help you with a Line of Credit that works for you.

© Echo Credit

Calculate loan payments at Echo Credit

Echo Credit calculator will allow you to calculate an approximate payment schedule for the loan

Echo Credit calculator
Interest rates are given in accordance with the rates of the Echo Credit in Washington, D.C. as of 25.09.2022
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What to focus on before applying for a loan with Echo Credit

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Echo Credit and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Echo Credit’s reviews by September 2022
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