Frequently Asked Questions
Curious about how CocoLoan works? Want to know more details about the loan options our lenders offer? In these Frequently Asked Questions, we've covered everything you may need to know about our services.
How does CocoLoan work?
CocoLoan is a loan broker that matches borrowers with lenders. We help borrowers find loan offers that may satisfy their needs by allowing them to compare all the available loans and rates from trusted lenders at one place.
What are the benefits of using CocoLoan?
CocoLoan offers a 100% online, easy-to-follow application process which saves a lot of time for borrowers. The lenders we're working with can offer you access to affordable loans and make it easy for you to get approved even if you have bad credit.
Do I have to pay anything to use CocoLoan?
No. Using our service to find a suitable lender is completely free of charge. All you're required is to repay the loan in full along with the interest rates and fees set out in your loan agreement. Everything will be transparent, and there will be no hidden charges during the whole process.
What loan options can I get with CocoLoan?
Through CocoLoan, you'll be able to get various types of loans, including payday loans, installment loans, title loans and personal loans. No matter what purpose you'll use the loan for, you can find the right option for you with CocoLoan.
How much can I borrow with CocoLoan?
It depends on how much our lenders are willing to lend you. They will carefully review your application and make responsible decisions on the loan amount. But generally, you can borrow up to $5,000 for payday loans, and $35,000 for personal loans.
Can I apply for a loan with CocoLoan if I have bad credit?
Yes. We can match you with the lenders that specialize in lending to people with bad credit. In fact, the credit score is not the only factor that determines your loan eligibility. The lenders will also take into consideration things such as your employment status or income source.
Can I get your loan with no credit check?
The answer is no. You can't get a loan with no credit check. This is to protect both you and the lender - you won't easily fall into any debt trap, and the lender will make sure that they are not lending money that they will never see again.
How long will it take to get my loan?
Getting a loan from the partner lenders of CocoLoan can be very fast. Generally, it should only take a few minutes for you to complete our application forms, and about a few hours for your application to be processed and approved so that you can get your money on the same or next business day.
How can I be eligible for a loan on CocoLoan?
The requirements our lenders impose are generally not very stringent, but there are a few criteria you must meet. You must be 18 years of age or older, have an active bank account in good standing. You can be self-employed, but you must provide proof of income
What should I do if I can't repay my loan?
If you are in a situation where you can't repay your loan, it is important to talk to your lender as soon as possible. They may be able to extend the repayment time or find another resolution that suits your circumstances.