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.

3.9
(20 Ratings)

My Funding Choices

Advertiser Disclosure

About Lender

My Funding Choices is a direct lender that provides short-term loans up to $1,000 to individuals who are in need of quick financial assistance. These loans are designed to be a temporary solution to address immediate financial needs, and are not meant to be used as a long-term financial solution.

One of the advantages of obtaining a short-term loan from My Funding Choices is the speed at which funds can be obtained. Once approved, the loan amount will be directly deposited into the borrower's bank account. This means that borrowers can get access to the funds they need quickly and without hassle.

However, it is important for borrowers to carefully consider their options before taking out a short-term loan. While these loans can be helpful in addressing immediate financial needs, they can also come with high-interest rates and fees. Borrowers should make sure that they will be able to repay the loan on time and in full, to avoid incurring additional fees or damaging their credit score.

My Funding Choices is committed to providing its customers with responsible lending practices and transparent loan terms. The company provides detailed information about its loan products on its website, including interest rates, fees, and repayment terms. This can help borrowers make informed decisions about whether a short-term loan is the right choice for their financial situation.

Key Features

My Funding Choices is a short-term loan provider that offers a number of key features to its customers. These features include:

  1. Simple online application: My Funding Choices provides a simple and straightforward online application process that makes it easy for customers to apply for a loan. The application can be completed quickly and easily from the comfort of your own home or office.
  2. No traditional credit checks: My Funding Choices does not perform traditional credit checks when evaluating loan applications. Instead, the company looks at a number of factors, such as income and employment history, to determine whether a borrower is eligible for a loan.
  3. Instant decision: Once you have submitted your loan application, you will receive an instant decision from My Funding Choices. This means that you will know whether you have been approved for a loan within minutes of submitting your application.
  4. Loans up to $1,000: My Funding Choices offers short-term loans up to $1,000 to eligible borrowers. This can be helpful for individuals who need to borrow a smaller amount of money to address an immediate financial need.

Pros and Cons

Pros

  1. Quick and easy application process: My Funding Choices offers a simple and straightforward online application process that can be completed quickly and easily from anywhere with an internet connection.
  2. No traditional credit checks: Unlike many traditional lenders, My Funding Choices does not perform a traditional credit check when evaluating loan applications. This can be beneficial for individuals with poor credit or no credit history.
  3. Instant decision: Once you submit your loan application, you will receive an instant decision from My Funding Choices. This can provide peace of mind and help you to quickly address your financial needs.
  4. Loans up to $1,000: My Funding Choices offers loans up to $1,000, which can be helpful for individuals who need to borrow a smaller amount of money to address an immediate financial need.

Cons

  1. High-interest rates: Short-term loans can come with high-interest rates, and My Funding Choices is no exception. Borrowers should carefully consider the cost of borrowing before taking out a loan and ensure that they will be able to repay the loan on time and in full.
  2. Short repayment period: My Funding Choices loans typically have a repayment period of 14 to 30 days. This can make it challenging for some borrowers to repay the loan in full within the given timeframe.
  3. Limited loan amounts: While My Funding Choices offers loans up to $1,000, this may not be enough for individuals with larger financial needs.
  4. Not a long-term solution: Short-term loans are meant to be a temporary solution to address immediate financial needs. They are not a long-term financial solution and should not be used as such.

Products

My Funding Choices provides short-term loans of up to $1,000 to eligible borrowers. These loans are designed to be a temporary solution for individuals who need to borrow money quickly to address an immediate financial need, such as an unexpected bill or expense. The loans are typically repaid within a period of 14 to 30 days and come with high-interest rates and fees. While My Funding Choices does not perform traditional credit checks when evaluating loan applications, borrowers should carefully consider the cost of borrowing and ensure that they will be able to repay the loan on time and in full. Overall, My Funding Choices can be a useful option for individuals who need to access funds quickly, but borrowers should approach these loans with caution and ensure that they can meet the repayment terms.

Reliability

The reliability of My Funding Choices can be evaluated based on several factors. The company has a 4.1 rating on Trustpilot, which suggests that many of its customers have had positive experiences with the company. However, it is worth noting that Trustpilot ratings can be subject to manipulation, so it is important to take them with a grain of salt.

My Funding Choices is not listed on the Better Business Bureau (BBB), which may be a cause for concern for some consumers who value the BBB's accreditation and rating system as a measure of reliability.

Another potential concern is that My Funding Choices does not list its interest rates on its website. This lack of transparency can make it difficult for borrowers to compare the cost of borrowing from My Funding Choices to other lenders and make an informed decision about whether a short-term loan is the right choice for their financial situation.

In addition, based on the information provided on the My Funding Choice website, the company appears to be affiliated with Black Hawk Financial, which is an entity of the Wakpamni Lake Community Corporation (WLCC). The WLCC is a tribal corporation wholly owned by the Wakpamni Lake Community, a local government under the Oglala Sioux Tribe. WLCC operates independently of the Oglala Sioux Tribe and is incorporated under and governed by the laws of the Oglala Sioux Tribe, as well as the regulations of the Wakpamni Lake Community.

Overall, the reliability of My Funding Choices may be a matter of personal opinion and preference. While the company has a positive rating on Trustpilot, its lack of BBB accreditation and transparency about interest rates may give some borrowers pause. As with any financial decision, it is important for borrowers to do their research, read reviews from multiple sources, and carefully consider the costs and benefits of borrowing from My Funding Choices before making a decision.

Funding a Loan

The My Funding Choices loan application process is straightforward and completely online, eliminating the need for faxing. Once a borrower's application is approved, the funds are directly deposited into their checking account. For applications approved before 5:00pm EST, the borrower can expect to receive the funds in their checking account the following business day.

Additionally, My Funding Choices provides borrowers with a contract specifying their payment due date, and on that date, the agreed-upon amount will be automatically debited from their checking account. After paying off the initial short-term loan in full, borrowers are eligible to apply for additional personal loans of up to $1,000.

Loan Conditions

My Funding Choices provides short-term loans of up to $1,000 to eligible borrowers. These loans are designed to be a temporary solution for individuals who need to borrow money quickly to address an immediate financial need, such as an unexpected bill or expense. The loans are typically repaid within a period of 14 to 30 days and come with high-interest rates and fees.

In addition to the previous information mentioned in the chat, My Funding Choices loans come with specific conditions. The company does not offer any products with interest rates below 36% annually. This is a relatively high interest rate, which can make the cost of borrowing more expensive for some borrowers. Additionally, borrowers must certify that they are not a member of the military or the spouse/dependent of a military member. This includes regular reserve members of the Army, Navy, Marine Corps, Air Force, Space Force, or Coast Guard who are serving on active duty under a call or order that does not specify a period of 30 days or fewer, or serving on Active Guard or Reserve Duty. Dependents of military members are also excluded from eligibility for My Funding Choices loans. These conditions may limit the availability of My Funding Choices loans to certain groups of individuals.

Borrowers have the option to cancel their loans at no cost until 5:00 p.m. EST on the next business day after they are notified of their loan approval. If you choose to cancel your loan, you must send us a notice of cancellation via email to [email protected] and return any funds you received before the 5:00 p.m. EST deadline.

My Funding Choices

FAQ

How do you Qualify For My Funding Choice?

To obtain a short-term loan from My Funding Choices, you only need to fulfill these requirements: have a monthly income of $1,000 or more, provide proof of employment, have an active bank account for fund deposits, provide a phone number and email address, and be a permanent U.S. resident who is at least 18 years old. The application process with My Funding Choices is straightforward and doesn't require access to a fax machine.

How Much Can You Borrow From My Funding Choice?

My Funding Choices provides short-term loans of up to $1,000 to eligible borrowers. These loans are designed to be a temporary solution for individuals who need to borrow money quickly to address an immediate financial need, such as an unexpected bill or expense. The loans are typically repaid within a period of 14 to 30 days and come with high-interest rates and fees.

Does My Funding Choice Approve Everyone?

No, My Funding Choices does not approve everyone who applies for a loan. The company has certain eligibility requirements that must be met in order to be approved for a loan, including having a minimum income of $1,000 per month, proof of employment, an active bank account, and being a permanent U.S. resident who is at least 18 years old. Additionally, My Funding Choices may consider other factors, such as credit history, when evaluating loan applications. While the company does not perform traditional credit checks, it may still consider other aspects of a borrower's financial situation to determine whether they are eligible for a loan. Ultimately, whether or not an individual is approved for a loan from My Funding Choices will depend on a variety of factors, and the company reserves the right to deny loan applications to individuals who do not meet its eligibility criteria.

Is My Funding Choice a Legitimate Company?

Based on the information provided on the My Funding Choice website, the company appears to be affiliated with Black Hawk Financial, which is an entity of the Wakpamni Lake Community Corporation (WLCC). The WLCC is a tribal corporation wholly owned by the Wakpamni Lake Community, a local government under the Oglala Sioux Tribe. WLCC operates independently of the Oglala Sioux Tribe and is incorporated under and governed by the laws of the Oglala Sioux Tribe, as well as the regulations of the Wakpamni Lake Community.

It is important to note that My Funding Choice warns borrowers that their loans can be very expensive and should only be used for emergencies or short-term solutions, and not as a long-term financial solution. This cautionary statement suggests that the company's loans may come with high-interest rates or fees, which could make them expensive for borrowers.

Overall, based on the limited information available on its website, My Funding Choice appears to be affiliated with a legitimate tribal corporation and operates under the laws and regulations of the Oglala Sioux Tribe. However, borrowers should carefully consider the terms and conditions of the loan and ensure they can afford to repay it before applying, given the potential for high costs associated with the loan.

Is My Funding Choice a good lender?

Whether or not My Funding Choices is a good lender is subjective and may depend on individual circumstances. The company has some advantages, such as a simple online application process, no traditional credit checks, and loans up to $1,000. However, it also has some potential drawbacks, such as high interest rates and fees, short repayment periods, and limited loan amounts.

Additionally, My Funding Choices is not listed on the Better Business Bureau and does not provide transparent information about interest rates on its website, which may be a cause for concern for some borrowers. What is more, it appears to be part of tribal lending industry.

Ultimately, whether or not My Funding Choices is a good lender will depend on an individual's specific financial situation and needs. It is important for borrowers to carefully consider the cost of borrowing, review multiple sources of information, and ensure that they will be able to repay the loan on time and in full before making a decision.

Financial products
My Funding Choices
Personal Loan
Rating by Finanso®
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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™
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100.00 – 20000.00 $
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from 0.05 %
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Loan term for the financial product

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100.00 – 4000.00 $
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2000.00 – 100000.00 $
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6.34 – 35.89 %
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2 months – 72 months
Rating by Finanso®
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4.25
(20 Ratings)
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Effective interest rate on the product

up to 160%
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9-18 months
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Interest rates are given in accordance with the rates of the My Funding Choices of 12.04.2024
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All My Funding Choices’s reviews by april 2024
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4.6
Advantages
The process was swift and straightforward, which was particularly helpful during a time when, despite my reluctance to seek assistance, I genuinely needed help.
Complain
4.4
Advantages
I had an exceptionally positive experience with this company. The process was swift and uncomplicated.
Complain
4.6
Advantages
Excellent customer service with a strong emphasis on being customer-friendly.
Complain
4.4
Advantages
The customer service representative I interacted with was exceptionally helpful and provided clear explanations for everything.
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2.4
Disadvantages
I did not receive the funds on the same day as promised by the agent.
Complain
4.4
Advantages
The application process was quick and straightforward, making it easy to comprehend. They truly delivered when I was in need, and I greatly appreciate it.
Complain
4.4
Advantages
The representative displayed a high level of professionalism and had in-depth knowledge of the intake process, including the speed at which the funds would be deposited. Additionally, the various repayment options offered are a significant advantage.
Complain
1.8
Disadvantages
I obtained a loan from this company, and despite having my bank information, I am receiving collection notices that make me feel like I'm being treated as a delinquent borrower. When I attempted to make a payment through their website, I encountered an issue where it indicated I couldn't make a payment because I had a payment arrangement in place. This inconsistency between being labeled as delinquent and having a payment arrangement is quite frustrating. I regret doing business with this company, and I would advise against it.
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4.8
Advantages
During a time of desperation, they came through and delivered. It's clear that this is a costly option, but they are transparent and provide full disclosure before moving forward, which I genuinely appreciate.
Complain
4.6
Advantages
My overall experience has been outstanding. The service consistently excels, with every representative being exceptionally helpful and attentive. The process is both swift and uncomplicated. This is a company that truly prioritizes its customers!
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Overall company rating
3.9
/ 5
20 reviews
Execution of an application
3.8
Support service
4.0
Mobile app
3.9
Service quality
4.0
Your satisfaction level
4.1
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