Is Blue Wave Loans Legit –Is Blue Wave Loans Legit? Everything You Need to Know If you’re in need of a loan, you may have come across Blue Wave Loans in your search for a lender. But with so many lenders out there, it’s important to do your due diligence and make sure that any lender you consider is legitimate and trustworthy. In this article, we’ll take a closer look at Blue Wave Loans, examining its history, reputation, and customer experiences to help you make an informed decision about whether it’s the right lender for you. Background on Blue Wave Loans Blue Wave Loans is an online lender that specializes in personal loans. According to its website, it was founded in 2013 and is based in Montana. The company offers loans ranging from $1,000 to $15,000, with repayment terms of up to 48 months. Blue Wave Loans operates entirely online, with no physical branch locations. Reputation and Customer Reviews One of the first things you should look at when considering a lender is its reputation and customer reviews. Blue Wave Loans has a Better Business Bureau (BBB) rating of A+, which is a good sign. However, it’s worth noting that the company has only been accredited by the BBB since 2019, so it doesn’t have a long track record of customer complaints and resolutions. As for customer reviews, Blue Wave Loans has mixed feedback online. On Trustpilot, a popular review platform, the company has a 3.9-star rating out of five, with some customers praising the company for its quick and easy application process and others criticizing it for high interest rates and poor customer service. It’s worth noting that Blue Wave Loans responds to many customer reviews on Trustpilot, which is a good sign that the company is committed to addressing customer concerns and resolving issues. Loan Terms and Requirements Before applying for a loan with Blue Wave Loans, it’s important to understand the loan terms and requirements. As mentioned earlier, Blue Wave Loans offers loans ranging from $1,000 to $15,000, with repayment terms of up to 48 months. Interest rates vary depending on the applicant’s creditworthiness, with rates ranging from 9.99% to 35.99%. The company also charges an origination fee of up to 5% of the loan amount. To qualify for a loan with Blue Wave Loans, applicants must be at least 18 years old and have a minimum credit score of 600. They must also have a valid checking account and a verifiable source of income. Additionally, applicants must reside in one of the following states: Alabama, Alaska, Arizona, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, or Wyoming. Application Process Blue Wave Loans’ application process is entirely online, which is convenient for applicants who don’t have time to visit a physical branch location. Applicants can complete the application in just a few minutes, and the company claims to provide a decision within minutes. If approved, funds can be deposited into the applicant’s bank account as soon as the next business day. Alternatives to Blue Wave Loans If you’re not sure if Blue Wave Loans is right for you, there are plenty of other lenders to consider. Some popular alternatives include: – LendingClub: LendingClub is a peer-to-peer lending platform that offers personal loans ranging from $1,000 to $40,000. – SoFi: SoFi is an online lender that offers personal loans, student loan refinancing, and more. Its personal loans range from $5,000 to $100,000. – Marcus by Goldman Sachs: Marcus is a digital bank that offers personal loans with no fees and flexible repayment options. Its loans range from $3,500 to $40,000. Conclusion So, is Blue Wave Loans legit? Based on its BBB rating and customer reviews, it appears to be a legitimate lender. However, it’s important to carefully review the loan terms and requirements before applying, as well as consider other alternatives to ensure you’re getting the best loan for your needs. As with any financial decision, it’s important to do your research and make an informed choice. FAQs 1. What is Blue Wave Loans? Blue Wave Loans is an online lender that specializes in personal loans. 2. Is Blue Wave Loans a reputable lender? Blue Wave Loans has a Better Business Bureau (BBB) rating of A+ and mixed customer reviews online. 3. What are Blue Wave Loans’ loan terms? Blue Wave Loans’ loans range from $1,000 to $15,000, with repayment terms of up to 48 months and interest rates ranging from 9.99% to 35.99%. 4. What are the requirements to qualify for a loan with Blue Wave Loans? Applicants must be at least 18 years old, have a minimum credit score of 600, a valid checking account, and a verifiable source of income. They must also reside in one of the 45 states where Blue Wave Loans operates. 5. Are there alternatives to Blue Wave Loans? Yes, there are many other lenders to consider, including LendingClub, SoFi, and Marcus by Goldman Sachs.