Cash-Mojo is one of the numerous loan matching services. They state to help their users no matter on their credit score or financial situation. These websites assure to put site visitors in touch with lenders who are prepared to offer short-terms loans. And moreover, the conditions are incredibly easy to meet.
In comparison to other similar sites, Cash-Mojo.com supplies the service it advertises. Lots of the businesses that own loan matching services are just enthusiastic about collecting private information, but it doesn’t seem to be the circumstance here.
Owned or operated by Panamerican Capital Advisors, a firm which appears to be located in California, it’s unclear when Cash-Mojo has been founded, but it would appear that the service became offered by least a couple of years ago.
Cash-Mojo is also quite popular, so immediately, we know that it is not a rip-off. As you’ll all see in the next sections, the clients have some known reasons for complaint, but those are not making the service a scam.
As all the other loan matching services do, Cash-Mojo links users with lenders predicated on online applications. Being matched up with a number of lenders doesn’t ensure a successful loan, as lenders are free to re-evaluate the applications after the initial approval done by Cash-Mojo.
Each lender offers lending options predicated on their own conditions and regulations. Users shouldn’t be surprised if indeed they don’t have the ability to obtain financing from the lenders suggested by Cash-Mojo.
And this is truly a good thing since it shows that lenders which cope with Cash-Mojo are authentic and reputable.
A few of them are prepared to supply up to $35,000, however the website states that it is very hard for users to be eligible for such a high amount, at their first loans.
A bad credit score won’t stop clients from being able to access a short-term financing, but the conditions they must meet for being approved are a lot more thorough.
There can’t be revealed a gross annual interest rate since it is different from lender to lender, but Cash-Mojo.com makes it clear that it can vary from 260.71% to 1825.00%.
These numbers seem to be really high, even though they are much more lower than the interest rates demanded by other short-term lenders.
Relating to the Cash-Mojo’s recommendations, users will be initially approved for financing if they’re hired, if they have a regular monthly income of more than $2,000, and if they own a bank account.
However, Cash-Mojo also work with companies that offer financing to people that have around $1,000 in monthly income. Credit history is really important, too, so the ones with good credit score will gain access to loans easier, but again, poor credit score are accepted in most cases.
How does Cash-Mojo work?
Cash-Mojo fits users with lenders based mostly exclusively on online applications. Cash-Mojo will not ask users for nothing more than filling the online forms, however lenders might demand extra documents, in which particular case the clients must fax or email them.
The complete process occurs online, and it grants that the customers will be able to access their loans in less than 24 hours. Following the application is completed, the users’ applications set will be delivered to lenders in only a couple of seconds. From now and then, it will depend on how quick the lender responds, because the agreement can be done in a couple of minutes.
The application form itself is super easy to complete, and it’s really accessible from the Cash-Mojo home page. Nonetheless it requires very private information, including the social security number.
In fact, the first digits of the SSN need to be entered directly on the starting page of the application form. This is unconventional for financing matching services, but it allows users know just what kind of information will be needed.
Cash-Mojo.com – Pros
A number of the users of Cash-Mojo are incredibly content with the service – It appears that those who have the ability to access lending options received the sums as fast as it’s advertised.
The lenders are incredibly professional, just like promised.
Cash-Mojo does indeed what it’s advertised to do, which is most likely why it’s popular.
Cash-Mojo.com – Cons
Negative reviews result from users who couldn’t find out a match with any lender or who have been pre-approved for sums which were smaller than expected.
For a few clients getting a lender is more challenging than imagined – Being pre-approved doesn’t ensure access to that loan, and frequently clients has to consult with more lenders.
Cash-Mojo.com can be considered a great option for those enthusiastic about short-term loans, however, not so much for many who value their personal privacy.
The Cash-Mojo.com website will indeed put users in touch with lenders that fit their preferences, but it gathers and stocks all the private details inserted in the applications forms.
In conclusion, Cash-Mojo.com is legit, but since it will put clients in touch with short-terms lenders caution is required because these short-term loans are really costly.