Choose a country
United States
Select a city
Select a city
Select language
English
Select country
Choose a country
United States
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Россия
Україна
Lender
Rating by Finanso®
i

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.

Jora Credit

Finanso.Multilogin™

About Jora Credit

Jora Credit is an online lending company that offers personal loans and lines of credit to customers in the United States. Jora Credit was founded in 2017 to serve the underbanked population in the United States. The financial institution is based in Texas and operates in 10 states, including Missouri, Idaho, Mississippi, Delaware, Alabama, South Carolina, North Dakota, Wisconsin, and Utah. Since its inception, the lender has been offering loans to thousands of borrowers in the United States, especially in states it is allowed to operate. The company operates as a direct lender, offering personal loans to individuals looking for quick cash to pay off their bills or cover other expenses. Unlike other financial institutions that target customers with good credit scores, borrowers can access Jora Credit loans even with bad credit scores. The most common type of financial service offered by the direct lender is Jora Credit personal loans, which its customers can access online and repay in monthly or bi-weekly installments. Other than financial services, Jora Credit is among financial services companies providing a financial advice platform via the Allay service. Allay is a financial advice platform that offers tools such as career paths, salary calculators, supplemental income, and job listings to help you improve your financial situation.

Pros and cons

Any big lender wants nothing to do with people with poor credit scores. Bad credit history can have users hop from one lending institution to the next. Comparing your credit options gives you a chance to exploit each lender’s opportunities. Jora Credit is one of the firms in the United States that offers unsecured loans to borrowers regardless of their credit history, allowing many people to access personal and small loans via an easy application process. Nevertheless, it is crucial to educate oneself on all possible disadvantages the company has.

Pros

  • No credit score discrimination

  • Straightforward application process

  • Instant processing and funding

  • Zero origination fee

  • Bi-weekly and weekly payment options

  • Financial advice to help streamline your finances

  • No late payments fees

  • No prepayment fee

Cons

  • High APRs

  • Jora Credit only serves ten states in the United States.

Loan conditions

Jora Credit has many perks for first-time borrowers and repeat customers, unlocking the financial capabilities of many borrowers with a bad credit history. The company’s terms and fees are also set on the table for the user to see before they commit to a loan, which makes Jora Credit easy to access. Many people want loans they can access as fast as possible. The company gives loans of between $500 and $2600 to borrowers. However, the amount you can borrow depends on which state you live in. For example, borrowers from Utah can borrow up to $3000, while those from North Dakota can get a minimum of $1250. Besides, the loans are available online; there is no need to visit any offices to consult or apply for a loan. The lending company offers unsecured loans, usually attracting high-interest rates. In particular, credit amounts ranging from $500 to $4,000 are available to first-time customers, with APRs ranging from 99% to 349%. You can make payments every two weeks, and the repayment period ranges from 8 to 30 months, depending on your state. The credit check is a soft pull, so you or someone you authorize can access your credit report.

Funding a loan

Jora Credit offers two types of loans: installment loans with no security and lines of credit. The installment loans are ideal for people who need cash for a single purpose, such as home renovation, home repairs, or buying a new home. The line of credit is for individuals who need everyday access to a smaller amount of the total loan to cover daily expenses and repay the loan regularly. Therefore, Jora Credit offers instant funds for borrowers who may need emergency funds. However, the Jora Credit interest rates are high since the lender does not ask for collateral. Considering that the lending company does not discriminate against borrowers with poor credit scores, you can apply for a loan and get it in a few minutes.

Moreover, the time between application and getting your loan disbursed is usually one business day, depending on the type of loan you apply for. Jora Credit will calculate the repayment period of loans based on the amount borrowed, the frequency of payment, and your state of residency. Jora makes deposits into your bank account the same day after reviewing and approving your loan application. However, that is only possible if you apply and Jora approves the loan by 10:30 a.m. CST on a business day. If you prefer to receive a check in the mail, it will take 7 to 10 business days.

FAQ

What is Jora Credit?

Jora Credit is an online lender that offers lines of credit and personal loans to borrowers with low or poor credit scores. It has distinct APRs for each state, ranging from 170% to 349%.

Who owns Jora Credit?

Jora is a privately owned lending firm licensed by the state of Texas to offer installment loans to the underbanked and underserved populations in the United States.

How do you qualify for a Jora Credit loan?

To qualify for a loan from the company, you must be at least 18 years of age (or 19 in Alabama) and have proof of income and residence.

Is Jora credit a legitimate company?

Jora Credit is a legitimate company with proper licensing to operate in the United States. The company allows borrowers access to an installment loan or a personal loan even with a poor credit rating.

Company documents

Policy on Responsible Lending
Privacy Policy
Terms of use

We’re here to help you with a loan that works for you.

© Jora Management, LLC.

Financial products

Jora Credit
Personal loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$500-$4,000
Rate
i

Effective interest rate on the product

up to 349%
Term
i

Loan term for the financial product

up to 30 months

Similars products

Finanso USA
Lendyou
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
Finanso USA
123CashFunds
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
Finanso USA
ABCashNow
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
Finanso USA
Indy Lend
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
Finanso USA
PlanBLoan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
Sunbit
Loans
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$50-$20,000
Rate
i

Effective interest rate on the product

35.99%
Term
i

Loan term for the financial product

up to 12 months

Calculate loan payments in Jora Credit

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

Loan amount
i

Enter the desired loan amount

USD
USD
500 $
4000 $
Loan term
i

Specify the loan term for the calculation

months
days
8
30

What to focus on before applying for a loan with Jora 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 Jora 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.
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Jora Credit’s reviews by August 2022
Leave feedback

Similar companies

Finanso USA
UK, Scotland, 12 South Bridge, Suite 1
Shellpoint
P.O. Box 10826 Greenville, SC 29603-0826
(800) 365-7107
PHH Mortgage
P.O. BOX 24737 West Palm Beach, FL 33416-4737
(800) 449-8767
SmartBiz
433 California Street San Francisco, CA 94104
1.866.283.8726
Blueacorn
United States, Scottsdale, Arizona.