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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Klover's loan


How to apply


Any U.S. citizen, lawful permanent resident, or non-resident who is at least 18 years old, has a physical address in the U.S., a valid checking account, and a debit card that is both valid and usable can borrow using this app.

Other requirements are:

  • No gaps between pay.

  • At least three direct deposits must have been sent to the primary checking account within 60 days.

  • All deposits must come from the same individual.

  • Pay deposits need to come from a business that is not a payday loan or paycheck advance business.

  • The paycheck description on your bank statement must match the descriptions of previously deposited ones with no spelling variations.

Application details

Some requested information must be provided when signing up to create an account.

Name, home, and work addresses, dates of birth, occupation, an active checking account, a working debit card linked to that checking account, a phone number, and an email address are all required.

It would be verified within 24- to 48-hour if the linked bank account is at least two months old and the paycheck has at least $250 directly deposited into that account. There must also be proof of receiving at least three consecutive salaries from the same employer.

After the account has been verified, it is available for borrowing.

How to apply for a loan

It's easy to apply for a loan right away,

● Sign up into your account via app;

● Provide your personal information;

● Link your bank account and verify your wage;

● The platform will never check your credit. If Eligible, your account would approve your money to be disbursed almost instantly.


How long does it take to get money from Klover?

Although it is possible to expedite the process so that it happens in two to six hours, the money is typically transferred into the account within one or three business days.

What credit score do I need to qualify for Klover?

There's no credit check needed to qualify for a cash advance, and some users may be eligible to borrow up to $100 in minutes.

Why did Klover reject my application?

Applications are denied for a variety of reasons. It can be the case that your debit card is linked to a separate checking account or that the bank account has a negative balance. 

Additionally, not all banks have relationships with the platform; thus, the bank linked to the account may not be a participating institution.

What to focus on before applying for a loan with Klover

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 Klover 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 Klover’s reviews by October 2022
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