White Rock Loans Review – Fast Short-Term Loans
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Fast Facts
Service:
Loan marketplace
Cost:
Free
Fund availability:
Next business day
Loan amounts:
$1,000 to $5,000
Loans can be a complicated topic. When you need to borrow money, there’s a whole process involved. First, you have to figure out what type of loan you need based on what you need the money for. Then you need to figure out how much money you need to borrow. Finally, you need to pick a few lenders to compare rates and loan terms. What if there was a way to make that process much easier? With loan marketplaces, you can submit your information to multiple lenders with a single application. I don’t know about you, but this sounds good to me because I’m the type of person who researches and makes comparison charts for a month before deciding which iPhone to purchase. Here’s our White Rock loans review to help you better understand how it works.
In this article
What is White Rock Loans?
Whiterockloans.com is a loan marketplace that can help connect people with short-term loan lenders. When you use White Rock Loans, you can fill out your initial loan application in one place and send it to multiple lenders for review. Lenders can then contact you with a loan offer if you qualify for one of its products. White Rock Loans is not responsible for its lending partners' decisions or terms.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
How does White Rock Loans work?
White Rock Loans allows you to get right to business as soon as you visit its website. On the home page, you can start the loan application process immediately by selecting the amount you want.
Next, you’re asked to indicate your credit score range. You can also select that you’re unsure if you don’t know your credit score at the moment.
To continue, you’ll need to enter your email address. White Rock Loans needs this information to communicate with you about your application. You’ll also need to provide your first and last name. Your cell phone number is another contact information required during the application process. White Rock Loans needs this information so lenders can contact you about your loan request.
Now the application process dives further into your personal information. The next step is to provide your address. Here’s where things got tricky for me.
I entered my zip code and then moved down to my street address. Before I could click continue, I was redirected to a completely different page. All of the offers on this page were marked as ads. For example:
This seemed kind of odd to me. I tried filling out the initial portions of the form several times because I was convinced that I was accidentally clicking something or doing something to trigger the redirect. It kept happening. I know White Rock Loans is not a direct lender, but I’ve never seen a process like this. So I sent an email to the White Rock Loans customer support team:
I waited a few days to see if the team would get back to me, but they did not. I also tried going through the application process a few days later, but the same thing happened. So I’m not sure if White Rocks Loans has an application process that is very different from any other lenders, or if an error is happening during the application process.
How much do White Rock Loans cost?
White Rock Loans is a service that connects you with other lenders and is not a direct loan provider. It’s completely free to use the service. However, the lenders you may contact when using White Rock Loans will have charges. Each lender determines what fees and rates it charges customers on its own. White Rock Loans specifies that it has no control over or knowledge of the terms and policies that its lending partners set.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
White Rock Loans features
White Rock Loans is not a direct lender, so it doesn’t offer many features. However, there can be some benefits to using its services.
Flexible eligibility requirements
Getting a loan can be difficult for some people. Many financial institutions have eligibility requirements that rely heavily on credit scores. White Rock Loans doesn’t necessarily abide by that philosophy. Instead, the service only looks for information that supports your ability to repay the money you borrow.
To qualify for a loan through White Rock Loans’ lending partners, you must be at least 18 years old and a U.S. citizen or permanent resident. You must have been employed with your current workplace for at least 90 days and earn a net income of at least $1,000 monthly to qualify for a loan. You must also own a checking account and be able to provide working phone numbers and an email address.
Quick funding
Loans can sometimes take quite some time to get processed, approved, and disbursed. When you go through White Rock Loans, and you’re approved for a loan, you can expect to receive your funds relatively quickly. Its lending partners allow you to electronically agree to the loan and the terms of the loan. You can receive your funds as soon as you do that on the next business day.
Who is White Rock Loans best for?
People who need small loans
White Rock Loans can connect borrowers with lenders who can help them. However, there are some limitations to these loans. The biggest limitation is the amount of money that you can borrow. Loan amounts only go between $1,000 and $5,000. This can work well for some people, but it depends on what you’re borrowing the money for and how much you need. If you’re looking for a small loan under $5,000, White Rock Loans might be a good way to connect with lenders and review your options quickly.
People who need money quickly
If you’ve ever applied for a traditional loan, you probably are familiar with the experience of checking your bank account daily to see if your funds have been distributed yet. The sad truth is that receiving funds can take some time after your loan is approved and all paperwork is signed. White Rock Loans helps streamline the process so you can receive your funds before the next business day.
Who Shouldn’t Use White Rock Loans?
People who prefer to use direct lenders
White Rock Loans is not a direct lender. That means that it does not have a direct relationship with the borrower. So if you apply for a loan through White Rock Loans, you should understand that you are not applying to borrow funds from White Rock Loans. Instead, think of White Rock Loans as a combination of a marketplace and a dating service. White Rock Loans maintains relationships with some lenders and will connect you to those lenders using the information in your application. You can then browse those loan options to decide which is best. If you prefer to develop a personal relationship with the person or company helping you through the application process, White Rock Loans is not for you.
People who want all of the information upfront
Since White Rock Loans is an indirect lender, there’s some information that you will not receive upfront. When you start the application process, you need to choose the amount you want to borrow to know how much you can borrow going into it. However, many other details can seem fuzzy, even if you don’t consider that White Rock Loans is not your direct lender. White Rock Loans does not supply any information about the annual percentage rate (APR) you might be charged when you accept a loan from one of its lending partners. You also won’t receive information about the loan length from White Rock Loans. All you’ll know going into things is that the loan is designed to be a short-term loan.
People who prefer to work with lenders in-person
White Rock Loans can connect you with multiple online lenders to help you access short-term loans such as payday loans. This can be a great tool for many people. However, for some, it does not replace the personal touch of visiting your local financial institution to work with someone in-person. You use an online form when applying for a White Rock Loan loan. There isn’t much room for personalization, and there certainly isn’t the opportunity for you to make an impression face-to-face.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
Pros and cons
Pros
- White Rock Loans can give you access to multiple lenders who may be able to help you.
- It’s free to use White Rock Loans.
- White Rock Loans has flexible eligibility requirements.
- With White Rock Loans, you can receive your funds quickly, even as soon as the next business day after you accept the loan terms.
Cons
- White Rock Loans is not a direct lender, so it’s not suitable for people who wish to conduct their business in person.
- There isn’t a lot of information about the loan partners or any details of the loans available through White Rock Loans.
- The loan amounts available are relatively low when compared to other personal or payday loan marketplaces.
White Rock Loans vs. competitors
Company | Loan Amounts | How Quickly Funds Are Received | Marketplace or Direct Lender |
White Rock Loans | $1,000 - $5,000 | As soon as the next business day | Marketplace |
BadCreditLoans | $500 - $10,000 | 24 to 48 hours after accepting a loan | Marketplace |
PersonalLoans.com | $250 - $35,000 | As soon as the next business day | Marketplace |
BadCreditLoans
BadCreditLoans is a loan marketplace that has no minimum credit score. This can be extremely attractive if you haven’t built up a credit history or if most other lenders don’t accept your credit history. To qualify for a loan through BadCreditLoans, you just need to be a U.S. citizen who’s at least 18 years old, provide proof of employment with a steady income, and have an active bank account.
When you use BadCreditLoans, you can connect with loan offers from multiple lenders. BadCreditLoans makes it easy to compare your options if you qualify for offers from multiple lenders. Before selecting, you can review the repayment terms, periods, interest rates, and other details. BadCreditLoans also offers access to its customer support team to help you with any questions about the application or funding process.
PersonalLoans.com
PersonalLoans.com offers flexibility regarding your loan amount and what you intend to use the loan for. You can request a personal loan through this service for any reason, from a home improvement project to an unexpected expense or family vacation. PersonalLoans.com is free to use with no obligation and no hidden fees. You can review your loan offers before deciding whether to accept one.
PersonalLoans.com has a large lender network to which you can access when you submit a loan through its website. The company will do its best to match you with loan offers from lenders within its network. However, if it can’t find any lenders in its network that can work with you, PersonalLoans.com still won’t give up on you. Instead, the company will send your loan request to its third-party lender networks to find a lender who can offer you a loan.
FAQs
What type of credit do you need to qualify for a loan through White Rock Loans?
Many borrowers are worried that the credit check will completely disqualify them from any type of personal loan or installment loan. The truth is that your credit history might not always be a dealbreaker. White Rock Loans will help you find a lender no matter what your credit score is. You can submit your loan request and let White Rock Loans do the work to find you a lender who can help you even if you have poor credit or bad credit. While there is no guarantee that White Rock Loans can find the types of loans that work best for you, they may be able to help you in the case of unexpected expenses.
Is White Rock Loans a Scam?
If you look at my application process, you might be wondering whether White Rock Loans is actually a scam. From what I can tell, it’s not. There are no major red flags that made me think that this lender is illegitimate. That being said, the lender that works for one person might not work for another person. When shopping for loans, you should compare interest rates, monthly payments and terms to see what works best for you. It’s also important to keep the type of loan that you’re seeking in mind. For example, a payday loan (otherwise known as a cash advance) is much different than real estate loans or student loans. You probably can’t find everything that you might need from a single lender.
Is White Rock Loans right for me?
If you’re looking for a cash loan, there are tons of options out there for you. This can cause a lot of confusion. How do you know which company is right for you? The thing about personal finance is that it’s, well, personal. What works for you might not work for somebody else, and that’s okay. As long as you evaluate your options and make sure that you’re working with a reputable company, you’re probably doing the right thing. When you evaluate any lender, you should evaluate its financial strength as well as its customer support, interest rates and availability.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
The bottom line
White Rock Loans is a marketplace that can match borrowers with short-term loans with quick funding opportunities. That being said, White Rock Loans isn’t for everybody. The loan amounts available are limited, especially compared to other marketplace lenders. White Rock Loans also has some eligibility requirements that are more strict than some of its competitors. When you use White Rock Loans, you will not receive any information about the loan options up front, making it hard to add the potential loan option to your budget.
White Rock Loans does have its positive side, though. Using White Rock Loans to connect with other lenders is free, saving you time and money. The company also only matches you with short-term loans, so they’re loans that you won’t hold onto for very long. Loans processed through White Rock Loans can land in your bank account before the next business day. Even if you don’t like working with an indirect lender, some of the features of White Rock Loans may make you change your mindset.
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Writer
Ashley Hart is a lead copywriter and digital marketing expert covering finance, law, real estate, music, entertainment, health and wellness.
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