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Why Jora Credit?
Jora Credit is a state-licensed, direct lender offering affordable personal loans for borrowers with less than stellar credit. Since 2017, Jora has served over 75,000 satisfied customers and originated $150 million in loans. Whether you need the money for medical bills, auto repairs, or other emergency or unplanned expenses, we’re here to help.
The application process is entirely online, meaning you can complete it from the comfort of your home — or anywhere else with an internet connection. Plus, it only takes a few minutes to apply, making it easy to get the funds you need, and quickly. This means no more dealing with long applications or wait times.
Most borrowers who apply for an online installment loan through Jora receive a credit decision within a few minutes. Funds are typically available either the same day or the following business banking day, so you don’t have to wait long for the financial support you need.
Jora is committed to your financial success and is available to help you in financially trying times. Whether you need a loan right now or are weighing your options, consider choosing Jora Credit. We also have a library of resources where you can learn more about personal finance and bettering your financial — and credit — situation.
Simple Online Application Process
When you’re in a financial pinch and need cash fast, the last thing you need is a complicated application process. That’s why Jora makes applying for an online installment loan as simple as possible.
In fact, you can apply from anywhere — at any time — using only your computer, tablet, or smartphone. The process only takes a few minutes and can be done in these easy steps:
- Create an online account with a password. You’ll need to provide some personal information, including your full name, address, email address, phone number, date of birth, Social Security Number, and driver’s license or state ID number. You’ll also need to input some basic financial and job-related information. This includes your income amount, banking information, and how much you pay for rent or mortgage.
- Agree to the application disclosures. Review Jora Credit’s Privacy Disclosure and any other terms and conditions. Then, submit your application.
- Wait for a credit decision. Most people find out whether they’re approved within minutes of applying. If Jora cannot verify certain information, you may need to complete a bank eligibility verification form. After doing this, you should get the results of your application within a few minutes.
- Choose the loan amount. You’ll see the maximum loan amount you qualify for once Jora approves the application. Select the amount that works best for you.
- Receive funding. If you accept the loan before 10:30 a.m. CT (Monday through Friday), the funds can be available that day. Otherwise, you may have to wait until the following business banking day to receive funds in your bank account. Paper checks typically take up to 10 business days to arrive in the mail.
Range of Loan Amounts
If you are a first-time applicant, you may qualify for a loan ranging from $500 to $2,600 (depending on your state). If you have borrowed from Jora before, you could qualify for a loan of up to $4,000.
No Hidden or Extra Fees
Jora’s installment loans do not come with any additional fees. This means no prepayment penalties, so you can repay the loan early with no charge — and save on interest. This can help a lot, especially if you are trying to save money for other things.
There are also no late fees or non-sufficient funds (NSF) charges.
Longer and Flexible Repayment Terms
Jora’s installment loans come with longer repayment periods, so you can repay what you owe over time.
Transparent Loan Terms and Costs
You will get the exact payment terms and annual percentage rate (APR) once you receive the official Loan Agreement. However, you can also use Jora’s Loan Calculator to determine the total estimated cost of the loan before applying.
No Minimum Credit Score
Although Jora does check your credit when you apply for a loan, you don’t need good credit to qualify. Jora considers multiple factors when deciding to approve a loan, including your employment status and income.
May Help Establish Credit
By consistently making timely payments, a Jora installment loan can help you establish credit, potentially leading to better financing options with more favorable terms and rates down the line.
Free Educational Resources and Tips
The Jora Credit Resource Center is a one-stop shop for those looking to learn more about personal finance, credit-building, loans, and more.
Top-Notch Customer Service
Jora offers excellent customer service and is committed to helping you in every way possible. The team consists of industry professionals who are willing to listen and support you throughout the process. You can contact the Customer Support team via phone (888-256-6083) or through our online contact form.
Where Jora Credit Does Business
Jora Credit currently offers installment loans in 10 states: Alabama, Delaware, Idaho, Mississippi, Missouri, North Dakota, South Carolina, Texas, Utah, and Wisconsin. Jora also offers lines of credit in Kansas and Tennessee.
Each state may have its own laws that influence things like borrowing amounts, repayment terms, and interest rates. However, here is an overview of what you can expect from your Jora loan, based on your state of residence.
Alabama
In Alabama, loan amounts range from $2,100 to $4,000 and come with bi-weekly or monthly payments. If you want to take out a loan in Alabama, you must be at least 19 years of age.
Delaware
In Delaware, you could qualify for a loan from $500 to $4,000 (up to $2,600 for first-time borrowers).
Idaho
Loan amounts range from $500 to $4,000.
Kansas
Jora offers a line of credit in Kansas. With this, you may request a cash advance up to your credit limit amount — $800 to $2,000 for new customers. Once you’ve repaid the principal balance and any finance charges, you can request an additional cash advance without reapplying.
Mississippi
In Mississippi, you can apply for a loan as low as $600 or as high as $2,400.
Missouri
Jora’s installment loans range from $500 to $4,000 in Missouri.
South Carolina
Borrowers in South Carolina can apply for a loan ranging from $1,250 to $4,000.
Tennessee
The Jora Tennessee Flex Loan gives you access to a line of credit that you can use to request a cash advance up to your approved credit limit. Most new customers have a credit limit ranging from $800 to $2,000.
Texas
In Texas, borrowers could qualify for a loan ranging from $600 to $1,600.
Utah
Residents of Utah can borrow $500 to $4,000 if they qualify. As with other states, the payment frequency is either bi-weekly or monthly.
Wisconsin
Installment loans in Wisconsin range from $700 to $4,000.
Jora currently offers installment loans and lines of credit, depending on your state of residence. If you want to know more about what is available in your state, head to What it Costs and choose your state.
Installment loans work similarly to traditional loans in that you apply for the amount you need and receive the funds all at once. Once you have the loan, you must then start making payments — bi-weekly or monthly — until you have repaid the principal and interest. After repaying the loan in full, you can then apply for another loan if needed.
With Jora, all you need to do is fill out and submit an online application. Once Jora verifies your information and if the application is approved, simply select the loan amount you need, simply select the loan amount you need and accept the terms and conditions. You may receive funds the same day or the next business day, provided it is not a bank holiday or weekend.
With a line of credit, you can borrow up to the maximum amount approved for your credit line at any time (minimum and maximum credit limits vary by state). This is a more flexible option than most loans. Interest will only accrue on the outstanding balance (the amount used), not on the available (unused) credit.
If you max out your credit line, you will need to pay down the balance (including any interest or other fees) before you can borrow more money. However, you only need to apply once.
Jora offers lines of credit in Tennessee, Texas and Kansas.
Jora offers two repayment options: bi-weekly and monthly. The repayment dates may vary based on when you take out a loan and where you live.
The annual percentage rate, or APR, refers to all fees plus the interest rate tied to a loan. It’s represented as a percentage (%). Every time you make a payment, it will include the principal balance and the APR.
Jora’s installment loans typically have an APR ranging from 99% to 349%. The exact APR depends on the loan amount, your state of residence, and other factors like credit score or income.
For the most part, first-time applicants can take out an installment loan for $500 to $3,000. If you have taken out a Jora loan before, you may qualify for a loan of up to $4,000.Your state of residence may also affect your borrowing limit. In Texas, for example, you can borrow $600 to $1,600. But in South Carolina, loans range from $1,250 to $4,000.
This depends on a few factors.
Generally, if Jora approves your loan application and you sign the loan agreement before 10:30 a.m. CT (Monday through Friday), you can receive same-day funding. Some banks might take longer to process the funds, but you can still typically receive them by 5 p.m. your local time.
If you sign the loan agreement after 10:30 a.m. CT, the funds can be available the following business day. Alternatively, if you opt for a paper check by mail, it make take seven to 10 business days to arrive.
Please note that funding might be delayed if you apply on a bank holiday or outside of business hours.
The total cost of a Jora loan includes the principal loan amount, the APR or interest rate, and how quickly you repay it. Since these loans do not have a prepayment penalty, it is generally a good idea to repay them sooner as opposed to later. Doing this can cut down on how much you pay in interest.
Have a question about the loan application process or something else? Visit Jora’s Contact Us page and fill out the online form with your query. Or call the customer support team at 1-888-256-6083. Alternatively, you can email support@joracredit.com.
Learn More About Online Loans
When it comes to finding the right financing for you, it helps to know all of your options. Here are the main types of online loans to consider.
Personal Loans
A personal loan is a traditional loan offered through a bank, credit union, or private lender. Personal loans typically come with fixed monthly payments (installments) and can be repaid over a couple of years. Interest rates and loan amounts vary immensely, depending on the lender and the individual’s credit and financial situation.
There are two types of personal loans: secured and unsecured. Secured loans require you to put up an asset as collateral to receive funds. This makes them easier to get than unsecured loans, but it also makes them riskier since you could lose the asset if you fail to make payments. Unsecured loans do not require collateral but may come with higher loan requirements.
If you have a poor or limited credit history, it can be hard to get a personal loan from a traditional lender. But with a Jora loan, you have a better chance of qualifying for the funding you need — without the need for good credit.
Installment Loans
Installment loans, such as those offered through Jora, are designed for borrowers with poor or limited credit who do not qualify for traditional loan options. This makes them more convenient for those who need funds for an unexpected financial emergency or other things like medical expenses or home improvement.
These loans can be repaid over a series of fixed monthly or bi-weekly payments until fully repaid. They typically include the principal balance and interest or any other lender’s fees. Interest rates, loan amounts, and repayment terms depend on the borrower’s credit score, income, and state of residence.
Jora offers installment loans with a streamlined application process and fast funding times. Payments are flexible either bi-weekly or monthly and include financing charges.
Bad Credit Loans
Most traditional lenders will check your credit score when deciding whether to approve your application. If your credit score is too low, they may decline your application altogether.
However, many bad credit loan lenders — including Jora — will consider other factors besides your credit score. This makes it easier to qualify for the funds you need even if you have spotty or poor credit.
Cash Advance Loans
A cash advance, or paycheck advance, is when you borrow a small sum — usually no more than a few hundred dollars — against your upcoming paycheck. Funds are usually available within one to three business days. You can usually get a cash advance through an app. These cash advance apps are typically free, though some come with a small monthly service fee or optional tipping service.
A cash advance loan can also refer to a payday loan. Typically, these loans are meant for those who need fast funding and don’t have good credit. They tend to come with a short repayment period. They also often come with other fees.
Payday loans
A payday loan is a small cash loan. Unlike installment loans, these loans come with a short repayment term and must be repaid on your next payday. Most payday loan lenders do not check your credit, but they do typically require proof of income and an active bank account. Many payday loans come with same-day funding.
Some payday loans are less regulated than traditional loans, meaning they might come with higher interest rates or other lender fees.
Home Equity loans
If you are a homeowner, you may qualify for a home equity loan. These loans let you borrow up to 80% (sometimes more) of the equity you have in your home. You can use the funds for nearly anything, including home renovations, debt consolidation, or big-ticket purchases.
Home equity loans usually have a fixed interest rate based on your credit score. They also often have 10 to 15-year repayment terms. If you have good credit, you could qualify for competitive rates.
Getting a home equity loan typically involves a lengthy application process that requires good credit, a low debt-to- income ratio, and solid income. Without these things, you may not be approved at all.
Additionally, home equity loans are secured by your home. If you fail to make payments, you could lose your home as a result.
HELOCs
A home equity line of credit (HELOC) is similar to a home equity loan in that it also uses the equity in your home. The main difference is HELOCs are a revolving line of credit that you can borrow from as needed for a set amount of time. HELOCs typically come with variable interest rates, but you only pay interest on the amount you use.
Most HELOCs have a draw period and a repayment period. The draw period is the time in which you can use the line of credit. It typically lasts 10 to 15 years. The repayment period is when you start making set monthly payments until the balance is paid. It often lasts around 20 years.
HELOCs have similar requirements as home equity loans. Most lenders require borrowers to have good credit, a low debt-to-income ratio, and a steady income.
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