Is Motive Loans Legit –Is Motive Loans Legit? A Comprehensive Review Money is an essential aspect of our lives, and sometimes we need to borrow to meet our financial obligations. However, with the numerous lending institutions available, it can be challenging to identify which ones are legit and which ones are not. One of the lending institutions that have gained popularity in recent times is Motive Loans. But is Motive Loans legit? In this article, we will provide a comprehensive review of Motive Loans to help you make an informed decision. Introduction to Motive Loans Motive Loans is an online lending institution that provides personal loans to individuals in need of quick cash. The loans range from $2,000 to $35,000, and the repayment period is between 24 to 60 months. The institution does not require collateral, making it an attractive option for individuals who do not have assets to secure a loan. The loan application process is straightforward, and borrowers can receive the funds within 24 hours of approval. Is Motive Loans Legit? The first question that comes to mind when considering Motive Loans is whether it is legit. The short answer is yes; Motive Loans is a legit lending institution. The institution is registered and operates under the laws of the state of California. Motive Loans is also a member of the Online Lending Alliance, which is an association of lending institutions that adhere to ethical lending practices. Motive Loans is also transparent about its lending practices. The institution provides all the necessary information about the loans, including the interest rates, fees, and repayment terms. Borrowers can access this information on the institution’s website or by contacting their customer service. Interest Rates and Fees One of the critical factors to consider when taking out a loan is the interest rates and fees. Motive Loans offers fixed-rate loans, meaning the interest rates do not change throughout the loan’s life. The interest rates range from 6.34% to 35.99%, depending on the borrower’s credit score, income, and other financial factors. In addition to the interest rates, Motive Loans charges an origination fee of between 1% to 6% of the loan amount. The origination fee is deducted from the loan amount, meaning borrowers receive less than the amount they applied for. However, borrowers do not have to pay any prepayment penalties if they choose to pay off the loan early. Loan Application Process The loan application process at Motive Loans is straightforward and can be completed online. Borrowers need to provide their personal and financial information, including their name, address, income, and credit score. The institution also requires borrowers to provide their bank account information, which is used to disburse the funds once the loan is approved. Once the application is submitted, Motive Loans reviews it and provides a decision within a few minutes. If the loan is approved, borrowers are required to sign the loan contract electronically. The funds are then disbursed to the borrower’s bank account within 24 hours. Customer Service Motive Loans has a responsive customer service team that is available to answer any questions or concerns that borrowers may have. The institution provides various channels for borrowers to contact their customer service, including phone, email, and live chat. The customer service team is knowledgeable and provides prompt responses to inquiries. Conclusion In conclusion, Motive Loans is a legit lending institution that provides personal loans to individuals in need of quick cash. The institution is transparent about its lending practices, and borrowers can access all the necessary information about the loans. The interest rates and fees are reasonable and competitive, making Motive Loans an attractive option for borrowers. The loan application process is straightforward, and borrowers can receive the funds within 24 hours of approval. With all this information, we can confidently say that Motive Loans is legit and a viable option for anyone in need of a personal loan. FAQs 1. Is Motive Loans safe? Yes, Motive Loans is safe. The institution is registered and operates under the laws of the state of California. Motive Loans is also a member of the Online Lending Alliance, which is an association of lending institutions that adhere to ethical lending practices. 2. What are the repayment terms for Motive Loans? The repayment terms for Motive Loans range from 24 to 60 months. 3. What is the interest rate for Motive Loans? The interest rates for Motive Loans range from 6.34% to 35.99%, depending on the borrower’s credit score, income, and other financial factors. 4. Is collateral required for Motive Loans? No, collateral is not required for Motive Loans. 5. How long does it take to receive the funds from Motive Loans? Borrowers can receive the funds from Motive Loans within 24 hours of approval.