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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.



About lender

Centz is a fintech firm that gives clients digital piggy banks that they can use to begin saving with every credit or debit card purchase. Centz, which was earlier known as Aspen Financial Direct, also offers consumers fixed-term personal loans. The company is regulated and licensed by the Financial Institutions Division, New Mexico Regulation, and Licensing Department.

Centz is a consumer fintech that combines financial services into a simple, one-stop shop. It was founded in 2017, and the company is headquartered in Latin America. Centz is leading the market in terms of innovation by making it simple and easy to access intuitive lending solutions. The company enables people to take control of their financial well-being and manage their requirements no matter where they are on their path. Centz offers individuals lending products based on their demographic and income status.

Pros and cons

Before applying for a loan from any company, you should carefully consider its advantages and disadvantages. This will allow you to make a sensible decision before opting for a loan


  • The bank offers a straightforward application process with good customer support.

  • The bank offers penalty-free early repayments.

  • There are no hidden costs apart from the loan interest.


  • The bank requires you to be pre-qualified to apply for a loan

  • The bank has no interest in lending to customers who are not pre-qualified, even if the consumer tries to pay them a visit

Loan conditions

To be eligible, the applicant must be over the age of 21. They must live in a state where Centz provides its services. They must be pre-qualified and have the invitation code via email. The applicant must have a job or regular source of income and should have an active and valid checking account (savings and prepaid accounts not accepted). They should have an active email address to receive account information.

Funding a loan

Centz offers personal loans to individuals where the rate and term of loans vary from state to state. This is because the company knows that all the states don't have access to loan products. Furthermore, the amount of money you can borrow depends on your state's laws. Annual percentage rates (APRs) may vary based on the applicant's credit risk profile. The company offers loan amounts ranging from $2,000 to $5,000 with an annual percentage rate of 99% or 139%. The loan terms offered by Centz range from 18 to 24 months.


What is Centz?

Centz is an online lending company that provides pre-approved loans to customers. To be applicable, the borrower must present a loan invitation code they receive via email during the loan application.

Who owns Centz?

Centz is a trademark of Aspen Financial Solutions, and Aspen Financial Solutions own it.

How do you qualify for Centz?

To qualify, the applicant must be able to present their invitation code. They must be over 21 and live in a state where Centz provides its services. The applicant must have a job and a regular source of income with an active and valid checking account.

How much can you borrow from Centz?

The loan approval amounts at Centz must meet from $500 to $5,000 – depending on your location. Returning clients may be eligible for a higher loan amount based on their payment history, activity, and the amount requested being affordable.

Is Centz a legitimate company?

Yes, Centz is a legit company. The company is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504.

What is the minimum amount you can apply for a loan in Centz?

The minimum loan amount offered by Centz is $500.

What is the maximum amount you can apply for a loan in Centz?

The maximum amount offered by Centz for a loan is $5000.

What is the longest loan term offered by Centz?

The longest loan term offered by the company is 24 months.

Company documents

Privacy Policy
Rates & Terms
Terms & Conditions

We understand that unexpected expenses happen. That’s why we’re here to help.

© Aspen Financial Solutions, Inc.

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What to focus on before applying for a loan with Centz

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 Centz 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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