About Lender
Yes Finance is a direct lender that provides qualified applicants in participating U.S. states with closed-ended installment loans. The official website offers rates for 10 U.S. States, mainly Idaho, Kansas, Mississippi, Missouri, New Mexico, South Carolina, Tennessee, Texas, Utah, and Wisconsin. During business hours, Monday through Friday, from 8 a.m. to 4:30 p.m. CDT, it contacts every candidate and responds to inquiries in 30 minutes or less.
Whether you're looking for a loan for a vacation, home improvement, a large purchase, or medical expenditures, Yes Finance issues loans to cover these expenses.
Key Features
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Quick and easy application process. Yes Finance offers a straightforward online application process that can be completed in just a few minutes, making it convenient for borrowers.
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Instant decision. Once you submit your loan application, you will receive an immediate decision, allowing you to find out if you qualify for a loan quickly.
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Fast funding. If you are approved for a loan, you can expect to receive your funds within the next business day, making it a suitable option for individuals needing quick access.
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Secure application process. Yes Finance takes the security of your personal and financial information seriously and uses 256-bit encrypted protection to safeguard your information.
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Wide range of loan purposes. Yes Finance offers loans for a variety of purposes, including home improvements, medical expenses, big purchases, and holidays, making it a versatile lender.
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Customer support and personalized experience. Yes Finance prides itself on providing excellent customer service, with a customer support team that is easy to contact and available to answer any questions or concerns you may have.
Overall, Yes Finance is a reputable lender that offers a quick and easy loan application process, with fast funding and a range of loan purposes. The company's commitment to customer satisfaction and secure lending practices also make it a trustworthy option for borrowers.
Pros and Cons
Pros
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Quick and easy online application;
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Instant decision;
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Offers installment and payday loans.
Cons
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Not accessible in all states;
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Hidden fees may apply;
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Not for a long-term solution.
Products
Yes Finance is a direct lender that offers various loan products to individuals in different states, including Kansas, Idaho, Mississippi, Missouri, New Mexico, South Carolina, Tennessee, Texas, Utah, and Wisconsin. Each state has its own specific loan amount, repayment terms, and APR rates. For instance, in Kansas, Yes Finance provides a line of credit that ranges between $200 and $2,000. In Idaho, the loan amount ranges between $200 and $1,000, while the APR ranges from 299% to 599%. In Tennessee, the credit limit ranges between $200 and $2,000, with an APR that ranges from 255.5% to 279.5%. Overall, Yes Finance provides installment loans with varying terms and APR rates, making it a suitable option for individuals needing quick funds access.
Reliability
Based on the information provided, Yes Finance seems to be a legitimate company with proper licensing from state regulatory bodies. However, the company has not been accredited or rated by the Better Business Bureau, and their Trustpilot rating of 3.5 out of 5 suggests mixed reviews from customers.
It is important to note that Yes Finance warns that their installment and payday loans should be used for short-term financial needs only and should not be considered a long-term financial solution. Consumers with credit difficulties should seek credit counseling.
Overall, it is difficult to assess the reliability of Yes Finance solely based on the information provided. While the company seems to have the necessary licenses and warnings in place, the mixed customer reviews and lack of BBB accreditation or rating may give potential customers pause. It may be prudent to research the company further and compare it with other options before making a decision.
Funding a loan
Customers can apply for a loan through Yes Finance official website. The loan amount, period, and APR amount depend on the applicant's state of residency and vary based on credit.
The lender approves its loans at 10:00 p.m. ET Monday through Friday. They are funded via ACH the next business day. If applications require additional verification or documentation, the approved funds can be disbursed by the following business day.
Loan conditions
The initial fees differ depending on where you live. Yes Finance will not charge you any additional fees after your loan has been approved. Your loan agreement's interest rates and fees are documented and disclosed during approval.
State regulations on lending differ. The amount of the loan will be determined by the applicant's creditworthiness, which will be determined throughout the application process. Yes Finance doesn't operate in some states. Not all applications or extensions requested are granted. Approval and loan terms vary based on the applicant's qualifications and residency state. Based on credit determination and state law, the exact loan amount, period, and APR amount a customer qualifies for may vary. State minimum loan amounts may also differ. When additional verification or documentation is necessary, decisions may take longer.
Conditions for the states
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Kansas. Yes Finance Kansas LLC is a direct lender in Kansas with a state license. No service businesses, Indian tribes, or other unaffiliated third-party lenders will be involved in the transaction and funding of your loan. The Kansas Office of the Bank Commissioner has granted Yes Finance Kansas LLC a license. Depending on the underwriting procedure, your Kansas Line of Credit will be worth between $200 and $2,000. Yes Finance let you know if you're approved and how much you might be eligible for when they reviewed your application.
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Idaho. Idaho installment loan amount from $200 to $1,000 with repayment terms of approximately 6 months. The APR ranges from 299% to 599%, organized to last well under 12 months. You can generally get funded via ACH or debit card. As part of Yes Finance loyalty program, customers who pay on time and/or pay off their loan in full may be qualified for bigger loan amounts and lower interest rates.
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Mississippi. Mississippi Department of Banking and Consumer Finance has granted Yes Finance Mississippi LLC a license. Mississippi Installment Loan amounts $100-$1000 with repayment terms of approximately 5 months (Loans $500 and below) and 6 months (Loans $501 and above). Yes Finance will levy a monthly handling fee of up to $25 for $100.00 borrowed per month in line with the Mississippi Credit Availability Act. An origination fee of 1% of the loan amount or $5.00, whichever is greater, may also be imposed.
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Missouri. The Missouri Division of Finance has granted Yes Finance Missouri LLC a license. Missouri installment loan amount from $200 to $1,000 with repayment terms of approximately 6 months. The APR ranges from 399% to 599%, constructed to last well under 12 months.
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New Mexico. The Financial Institutions Division of the New Mexico Regulation and Licensing Department has granted Yes Finance New Mexico LLC a license. New Mexico installment loan amount from $200 to $700 with repayment terms of approximately 8 months. The APR ranges from 170% to 175%, constructed to last well under 12 months.
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South Carolina. The South Carolina of Financial Institutions has granted Yes Finance South Carolina LLC a license. Installment loan amount from $610-$1000 with repayment terms of approximately 6 months. The APR ranges from 499% to 549%, constructed to last well under 12 months.
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Tennessee. The Tennessee Department of Financial Institutions has granted Yes Finance Tennessee LLC a license. Your Tennessee Line of Credit will have a credit limit of $200 to $2,000, depending on the underwriting procedure. The APR ranges from 255.5% to 279.5%.
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Texas. As a Credit Services Organization (CSO) and a Credit Access Business, Yes Finance arranges Installment Loans for Texas residents (CAB). For first-time consumers, the maximum loan amount is $700. Customers who return may request up to $1,500. The third-party lender charges interest of 10% per year on the principal amount borrowed. If your loan is paid back bi-weekly, semi-monthly, or weekly, a CAB/CSO fee of $11 per $100 borrowed applies; if your loan is paid back monthly, a CAB/CSO fee of $24 applies.
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Utah. The Utah Department of Financial Institutions has granted Yes Finance Utah LLC a license. Installment loan amount from $200 to $1000 with repayment terms of approximately 8 months. The APR ranges from 399%-599% constructed to last well under 12 months.
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Wisconsin. The Wisconsin Department of Financial Institutions has granted Yes Finance Wisconsin LLC a license. Installment loan amount from $200 to $500 with repayment terms of approximately 8 months. The APR ranges from 399%-599% produced to last well under 12 months.
