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SAIL Loans Review

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What are SAIL Loans?

SAIL Loans, short for Savings and Installment Loans, offer a comprehensive financial solution for individuals seeking both immediate funds and a pathway to bolster their savings. Designed to facilitate financial wellness, SAIL Loans present a streamlined process that integrates borrowing and saving seamlessly. Through a straightforward application process, individuals can access funds of up to $4,000 swiftly, with approval often granted within minutes. What sets SAIL Loans apart is their dual functionality: while providing necessary financial assistance, they also allocate a portion of the borrowed sum into a secure savings account. This innovative approach encourages responsible financial management, ensuring borrowers not only meet their immediate needs but also take strides toward long-term financial stability.

SAIL Loans stand as an accessible option for those looking to address urgent financial requirements without sacrificing their savings goals. By offering a range of loan amounts and flexible repayment terms, SAIL accommodates diverse financial circumstances. Whether it's covering unexpected expenses or seizing growth opportunities, SAIL Loans empowers individuals to navigate their financial journey with confidence. Moreover, with a commitment to financial literacy and customer support, SAIL ensures borrowers have the tools and assistance needed to make informed decisions and optimize their financial well-being.

SAIL Loans

Key Features

  1. Flexible Loan Amounts and Terms. SAIL understands the diversity of financial needs and circumstances. With loan amounts ranging from $100 to $4,000 and flexible repayment terms extending up to 24 months, borrowers have the freedom to tailor their loans to suit their specific requirements.

  2. No Prepayment Penalty. SAIL Loans offer flexibility in repayment without penalizing borrowers for early or partially paid payments. Individuals can choose to settle their loans in full at any time, allowing for efficient financial management based on their unique circumstances.

  3. Refer-A-Friend Program. SAIL incentivizes its users to share the benefits with friends, family, and colleagues. Through the Refer-A-Friend program, individuals can earn $50 for each successful referral, while their friends receive a $25 credit toward their new loan.

  4. Inclusive Credit Options. SAIL Loans are accessible to individuals with less-than-perfect credit. Even if applicants have been declined by other lenders, SAIL aims to provide credit options that align with the specific needs of each borrower.

Pros and Cons


Convenience. SAIL Loans offer a straightforward and convenient application process for borrowers in favor of such technologies, making it easy for individuals to access funds quickly, often with approval granted within minutes.

Dual Functionality. The integration of savings into the borrowing process encourages responsible financial behavior, allowing borrowers to meet immediate needs while also building up their savings for the future.

Financial Literacy Support. SAIL provides access to financial literacy tools and resources, empowering borrowers to make informed financial decisions and improve their overall financial well-being.


State Restrictions. SAIL Loans operate under state-specific regulations, which may limit availability or impose certain restrictions depending on the borrower's location.

Interest Rates. While SAIL Loans offer convenience and flexibility, borrowers should be aware that interest rates can be relatively high, especially for those with less-than-perfect credit scores.

Potential Debt Trap. As with any form of borrowing, there's a risk of falling into a debt trap if loans are not managed responsibly. Borrowers should exercise caution and only borrow what they can afford to repay.


SAIL Loans has demonstrated reliability through compliance with the regulations set forth by the Department of Financial and Professional Regulation and the Division of Financial Institutions in the State of Illinois.

In terms of customer reviews, SAIL Loans exhibits a mixed record as evidenced by Trustpilot, averaging 2.8 stars out of 5, based on feedback from 27 customers. While these metrics offer insights into customer experiences, potential borrowers need to conduct thorough research and consider various factors before assessing the reliability of SAIL Loans. Factors such as individual financial needs, lending terms, and regulatory compliance should all be weighed when evaluating the reliability of a lending institution.

How to Apply for a SAIL Loan?

  1. Visit the Website or Store Locator. Begin by visiting the SAIL Loans website or using the store locator to find the nearest physical location if you prefer an in-store application process.

  2. Review Eligibility Requirements. Before applying, review the eligibility requirements, which may include having a verified bank account, proof of income, and a valid driver's license or state ID.

  3. Complete the Application. Fill out the online application form with accurate personal and financial information. Provide details such as your name, address, employment status, income, and desired loan amount.

  4. Submit Required Documents. Depending on the state and loan amount, you may need to submit additional documents such as proof of income, a voided check, and identification documents. Ensure all required documents are provided to expedite the application process.

  5. Receive Approval. After submitting your application and required documents, SAIL will review your information. Approval decisions are typically provided within minutes, offering swift access to funds.

  6. Review Loan Terms. Upon approval, carefully review the loan terms, including the loan amount, repayment schedule, interest rates, and any applicable fees. Ensure you understand the terms and conditions before proceeding.

  7. Accept the Loan Offer. If satisfied with the loan terms, accept the loan offer electronically or in-store. By accepting the offer, you agree to the terms outlined in the loan agreement.

  8. Receive Funds. Once the loan offer is accepted, the approved funds will be deposited directly into your verified bank account. A portion of the borrowed amount may also be allocated to a secure savings account, as per the SAIL Loan structure.

Conditions and Requirements


  1. Loan Amounts. SAIL Loans offer loan amounts ranging from $100 to $4,000, allowing borrowers to access funds tailored to their specific financial needs.

  2. Loan Terms. The loan terms typically range from 12 to 24 months, providing borrowers with flexibility in repaying the borrowed amount over a manageable period.

  3. Annual Percentage Rate (APR). The APR for SAIL Loans varies depending on factors such as the borrower's creditworthiness and state regulations, with maximum APRs often capped to comply with state laws.

  4. No Prepayment Penalty. Borrowers have the option to repay their loans in full at any time without incurring prepayment penalties, offering flexibility and potential savings on interest costs.

  5. Refer-A-Friend Program. SAIL may offer a Refer-A-Friend program, incentivizing borrowers to refer friends and family members by providing rewards for successful referrals.

  6. Financial Literacy Resources. Some lenders may offer access to financial literacy tools and resources to help borrowers improve their financial knowledge and make informed decisions.

  7. Customer Support. Borrowers can expect dedicated customer support services to address inquiries, provide assistance with the application process, and offer guidance throughout the loan term.


  1. Verified Bank Account. Borrowers are typically required to have a verified bank account to facilitate the deposit of loan funds and manage repayments electronically.

  2. Proof of Income. Applicants must provide proof of income, usually in the form of recent pay stubs, benefits letters, or other documentation demonstrating consistent income within the last 30 days.

  3. Valid Identification. Borrowers are required to present a valid driver's license or state ID to verify their identity and ensure compliance with regulatory requirements.

  4. Minimum Age. Borrowers must meet the minimum age requirement set by state regulations, typically 18 years old or older, to qualify for a SAIL Loan.

  5. Residency Verification. Some lenders may require proof of residency, such as utility bills or lease agreements, to verify the borrower's address.

Ways to Receive the Money

  1. Direct Deposit. The most common and efficient method is direct deposit. Once a borrower's loan application is approved, the funds are electronically transferred directly into their verified bank account. This method ensures quick access to the funds without the need for additional steps or delays.

  2. In-Store Pickup. Some borrowers may prefer to receive the funds in person by visiting a physical SAIL Loans store location. Upon approval, borrowers can choose to collect the funds in cash or via a cashier's check, depending on the lender's policies and procedures.

  3. Mobile Wallet Transfer. For added convenience, borrowers may have the option to receive funds via mobile wallet transfer. In this method, the approved funds are transferred directly into the borrower's mobile wallet app, allowing for easy access and instant use of the funds for purchases or transfers.


  1. Installment Loans (from $100 to $4,000). Installment loans provide borrowers with a lump sum of money that is repaid over time through scheduled installment payments. These loans offer flexibility in loan amounts and repayment terms, allowing borrowers to manage their finances effectively.

Other Loans

Reasons for Getting Rejected for a SAIL Loan

  1. Insufficient Income. Applicants must demonstrate the ability to repay the loan, typically through proof of income. If the applicant's income is deemed insufficient to meet the loan repayment requirements, their application may be rejected.

  2. Poor Credit History. Lenders often assess the applicant's creditworthiness based on their credit history and score. A poor credit history, characterized by missed payments, defaults, or bankruptcy, may lead to loan rejection or approval with less favorable terms.

  3. Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on the loan application can result in rejection. Lenders rely on accurate data to assess the applicant's financial situation and determine their eligibility for a loan.

  4. High Debt-to-Income Ratio. Lenders evaluate the applicant's debt-to-income ratio to assess their ability to manage additional debt. A high debt-to-income ratio, indicating excessive existing debt relative to income, may raise concerns about the applicant's ability to repay the loan.

  5. Unstable Employment. Applicants with unstable employment or irregular income may face challenges in securing a loan. Lenders prefer applicants with stable employment and consistent income to minimize the risk of default.

  6. Excessive Loan Applications. Multiple loan applications within a short period can signal financial distress to lenders and may result in rejection. Lenders may view frequent applications as a red flag and question the applicant's financial stability.

How to Repay a SAIL Loan?

  1. Review Loan Agreement. Before repayment begins, carefully review the terms of your SAIL Loan agreement, including the loan amount, interest rate, repayment schedule, and any applicable fees or penalties. Ensure you understand your obligations as a borrower.

  2. Make Payments Online. Most lenders provide online payment portals where borrowers can make payments conveniently using their bank account or debit card. Log in to the lender's website or customer portal to access the payment options and follow the instructions to make a payment.

  3. Monitor Repayment Schedule. Keep track of your repayment schedule to ensure timely payments are made each month. Set reminders or enable notifications to stay informed about upcoming due dates and avoid late payments.

  4. Consider Early Repayment. If financially feasible, consider making early or additional payments to pay off the loan faster and reduce overall interest costs. Check with your lender to ensure there are no prepayment penalties or fees associated with early repayment.

  5. Contact Customer Support. If you encounter any difficulties or have questions about the repayment process, don't hesitate to contact the lender's customer support team for assistance. They can provide guidance, address concerns, and help you navigate the repayment process effectively.


LightStream offers a wide range of loans with competitive interest rates, including a rate-beat program, catering to borrowers with various financial needs. With loan amounts ranging from $5,000 to $100,000 and flexible terms, LightStream provides borrowers with ample options to finance different purposes without the burden of origination, late payment, or prepayment fees. Additionally, borrowers can benefit from a 0.50% rate discount by enrolling in autopay, enhancing affordability and convenience for managing loan repayments.

LendingPoint, headquartered in Atlanta, extends its online lending services to 48 states and Washington D.C., excluding Nevada and West Virginia. Despite its high maximum APRs and origination fees, which can reach up to 10%, LendingPoint offers personal loans ranging from $2,000 to $36,500, with repayment terms spanning from 24 to 72 months. While maintaining a high credit score may mitigate high APRs, borrowers should carefully consider origination fees and state-specific terms before applying.

Upgrade, established in 2017, has facilitated over $3 billion in credit to more than 10 million applicants through its accessible online and mobile banking services. Although Upgrade's maximum APRs may be relatively high, the platform extends its services to individuals with poor credit history, offering loans from $1,000 to $50,000 with terms of two to seven years. While an origination fee between 1.85% and 9.99% applies, Upgrade borrowers benefit from no prepayment penalties, allowing them to reduce overall loan costs through early repayment.

Universal Credit, operating as an online lending platform, partners with various institutions to provide personal loans ranging from $1,000 to $50,000. Despite catering to borrowers with damaged credit, Universal Credit imposes high APRs and an origination fee ranging from 5.25% to 9.99% on all personal loans. Borrowers should consider these factors, along with repayment terms spanning from three to seven years, when evaluating the accessibility and affordability of loans through Universal Credit's platform.

Loans like SAIL Loans


OnDeck stands out as an excellent choice for short-term business loans, offering the flexibility of borrowing substantial amounts, even for businesses with a minimum credit score. What makes OnDeck particularly attractive is its ability to provide funds swiftly, with same-day approval and disbursement for qualifying applicants. Moreover, OnDeck emphasizes the opportunity to build and strengthen business credit by consistently making on-time payments. The loan terms range from 18 to 24 months, with loan amounts spanning from $5,000 to $250,000. While the starting interest rate is 35.40% for a portion of customers, the accessibility and speed of funding make OnDeck a notable player in the short-term business loan landscape.

Funding Circle

Funding Circle distinguishes itself in the realm of long-term business loans by offering competitive rates, extended repayment terms, and a lack of prepayment penalties. This lending option caters to businesses seeking larger loan amounts, ranging from $25,000 to $500,000, with a reasonable starting interest rate of 11.29%. Beyond financial support, Funding Circle prioritizes efficiency, enabling businesses to access funds in as little as two business days. Notably, Funding Circle also showcases its commitment to diversity by providing funding options specifically tailored for women-owned businesses and minority entrepreneurs. The loan terms extend from 6 to 84 months, making Funding Circle a favorable choice for businesses with a more extended financial horizon.


Credibly positions itself as a reliable source for working capital loans, particularly for businesses requiring quick funding to address immediate operational needs like payroll or inventory expenses. Notably, Credibly's working capital loans boast a rapid approval process, often providing funds in less than 24 hours. The lender exhibits flexibility by considering applicants with a minimum credit score of 500 and a willingness to look beyond a less-than-perfect credit history, provided there is a healthy annual revenue. Beyond working capital loans, Credibly collaborates with a network of lenders to offer a diverse range of financing options, including merchant cash advances, business lines of credit, equipment financing, SBA loans, and invoice factoring.


For startups in need of swift financing, Fundbox presents an appealing option with its business line of credit, offering up to $150,000. What sets Fundbox apart is its relatively lenient eligibility criteria, allowing new companies to qualify after just six months of operation and a minimum annual revenue of $100,000. The business line of credit provides the flexibility to withdraw funds as needed, and businesses only pay interest on the amount utilized. Additionally, Fundbox offers perks such as up to 20% off fees through its Fundbox Plus upgrade. With competitive starting interest rates ranging from 4.66% for 3-month terms to 8.99% for 6-month terms, Fundbox addresses the financial needs of emerging businesses seeking quick and accessible startup loans.

Editorial Opinion

SAIL Loans present a dual-purpose financial solution, offering borrowers access to funds while simultaneously encouraging savings. With a streamlined application process and flexible repayment options, SAIL Loans aims to address the immediate financial needs of individuals while promoting responsible financial management. While the integration of savings into the borrowing process is a commendable approach to fostering financial wellness, borrowers should carefully review the terms and conditions, including interest rates and fees, to ensure they align with the rest of their financial goals and capabilities.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.


At Finanso, we've carried out a comprehensive analysis of over 50 business lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

  • GoKapital Account Review
  • How to Apply for GoKapital Loan
  • How to PayOff GoKapital Loan
  • GoKapital Mobile Apps
  • GoKapital Reviews



Who owns SAIL Loans?

SAIL Loans is owned by a Delaware limited liability company operating under the name SAIL Loans, which is registered as an LLC. Based in Illinois, SAIL operates under this legal entity, offering its lending services within the state.

What credit score do you need for a SAIL Loan?

The credit score requirement for a SAIL Loan may vary depending on factors such as the loan amount, repayment term, and the borrower's overall financial profile. While SAIL Loans may consider applicants with less-than-perfect credit scores, typically a credit score in the fair to good range (approximately 580 or higher) may increase the likelihood of approval and result in more favorable loan terms. However, credit score requirements and eligibility criteria may differ based on individual circumstances and the lender's underwriting policies.

What bank does SAIL Loan use?

SAIL Loans may partner with various banks or financial institutions to facilitate loan disbursements and repayment processes. The specific bank used by SAIL Loans may vary depending on factors such as geographical location, regulatory requirements, and business partnerships. Borrowers can typically expect funds to be deposited into their verified bank account, which may be held at a partner bank or financial institution chosen by SAIL Loans to ensure efficient and secure transactions.

Does SAIL Loan approve everyone?

While SAIL Loans aims to provide financial assistance to a wide range of individuals, approval is not guaranteed for every applicant. SAIL Loans evaluates each application based on factors such as income, credit history, employment status, and the loan amount requested. While SAIL Loans may consider applicants with varying credit scores and financial backgrounds, approval ultimately depends on meeting the lender's eligibility criteria and demonstrating the ability to repay the loan.

Is SAIL Loan a legitimate company?

Yes, SAIL Loans is a legitimate company offering financial services to individuals seeking loans. As a reputable entity operating in the lending industry, SAIL Loans adheres to state and federal regulations governing consumer lending practices, ensuring compliance with legal standards and consumer protections. While it may not be accredited by the Better Business Bureau (BBB), its legitimacy is supported by its provision of transparent terms, reliable customer service, and the fulfillment of its financial obligations to borrowers. However, individuals considering SAIL Loans should conduct their due diligence, review terms carefully, and assess their own financial circumstances before engaging with the company to ensure alignment with their needs and goals.

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We offer online and in-store services, financial educational tools, and excellent customer support along the way.

© SAIL Loans
SAIL Loans
Savings and Installment Loan
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.

Recommended FinScore™

Interest rate

up to 35.99%

Loan term for the financial product

up to 24 months
Similars products
Personal Loans
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.

Recommended FinScore™
2000.00 – 100000.00 $

Interest rate

6.34 – 35.89 %

Loan term for the financial product

2 months – 72 months
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.

Recommended FinScore™
100.00 – 4000.00 $
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.

(20 Ratings)
Recommended FinScore™
to 1500.00 $

Interest rate

to 160.00 %
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