How to Check If a Loan Company is Legitimate
There are many factors that can help you determine if a loan company is legitimate or not. You should always take the time to do your research before applying for a loan, so you know what to expect when it comes to the lender's business practices and procedures. Here are some things you should look out for when trying to determine if a loan company is legitimate:
- Does the website have an SSL certificate? This lets you know that your information will be encrypted as it travels between your browser and their site.
- Do they have an official address? If so, go there in person and see if anyone looks familiar behind the counter. If there is no address listed on their website, call them up and ask where their office is located.
- Can they provide references from past clients? If so, try calling them up and find out what their experience was like working with this lender.
- Do they have any reviews on sites like Yelp or Facebook? These sites will let you know what other people think about this company and whether or not they would recommend using them.
A legitimate loan company will have a physical location in the United States. This means that the office address will be located in America, not abroad. If a company does not have an office in the U.S., then it may be questionable as to whether or not they are legitimate.
Another thing to look for is if the company has been in business for at least five years. If it has been around for longer than that, then it is likely that they are doing business legally and legitimately. This can also help ensure that they have a good reputation among customers and other companies in general.
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