Bright Lending Review

bright lending logo
1.0 rating

Foundation Year
Unknown


Office Address
P.O. Box 578, Hays, MT 59527 United States


Phone number
+1-866-441-7674


Pros

  • Installment loans;
  • Different rates for new and returning customers;
  • Loan term up to 10 months;
  • Online application;

Cons

  • No definite details about the company;
  • Loans amount from $300 to $1,000.

Overview

Bright Lending is an online lender. The lender will provide access to financial products that will help manage unforseen expenses. All the products are short-term that should be paid back within 10 months max. The company’s PO Box 578, Hays, MT 59527 United States. We have not found a legal company address, we suppose this company has no offline department. All the procedure is conducted online.

What loans does Bright Lending offer?

Bright Lending offers short-term installment loans. The available loan amounts range from $300 to $1,000. The terms and rates will be defined depending on whether you are a new or regular customer.

What states does this lender service?

Bright Lending doesn’t borrow funds for residents living in the following states and areas: does not lend to residents of Arkansas, Connecticut, Massachusetts, Montana, New York, Pennsylvania, Puerto Rico, Vermont, Virginia, West Virginia, American Samoa, Armed Forces Americas, Armed Forces Europe/Canada/Middle East/Africa, Armed Forces Pacific, Canal Zone, Commonwealth of the Northern Mariana Islands, Guam, Marshall Islands, Minor Outlying Islands/States of Micronesia, Northern Mariana Islands, Outside US, Palau, Philippine Islands, Trust Territory of the Pacific Islands, Virgin Islands.

What terms and rates does Bright Lending offer?

Terms and rates offered by this lending company depends on whether you are a new customer or a returning one. This lender offers short-term installment loans up to $1,000. The terms to pay for a loan are within 10 months.

If you are a new customer, your first scheduled loan payment will be at a minimum 7 days from your funding date. The funds issued will be transferred to your bank account on the next business day.

New customers may choose whether to pay a loan back manually or automatically. It will look in the following way:

Manual Payment Automatic Payment
$500 Loan Paid Bi-Weekly
10 Month term
21 Bi-Weekly Payments of $140.22
725% APR
$500 Loan Paid Bi-Weekly
10 Month term
21 Bi-Weekly Payments of $135.52
700% APR
$4.70 – Payment Savings With Auto Pay
$98.70 – Life of Loan Savings with Auto Pay

If you are a returning customer, you will get some benefits. The terms and rates will be the following:

  • VIP – MANUAL PAYMENT
    $500 Loan Paid Bi-Weekly
    21 Bi-Weekly Payments of $121.51
    625% APR
  • VIP GOLD – MANUAL PAYMENT
    $500 Loan Paid Bi-Weekly
    21 Bi-Weekly Payments of $103.13
    525% APR
  • VIP – AUTOMATIC PAYMENT
    $500 Loan Paid Bi-Weekly
    21 Bi-Weekly Payments of $116.88
    600% APR
    $4.63 – Payment Savings With Auto Pay
    $97.23 – Life of Loan Savings with Auto Pay
  • VIP GOLD – AUTOMATIC PAYMENT
    $500 Loan Paid Bi-Weekly
    21 Bi-Weekly Payments of $98.61
    500% APR
    $4.52 – Payment Savings With Auto Pay
    $94.92 – Life of Loan Savings with Auto Pay

How to apply for a loan from Bright Lending?

The procedure of a loan issue is held online. The application is filled out, then it is assessed and the funds are deposited to a bank account. There is no need to visit any stores as this lender offers a contactless system.

How do I qualify for a loan?

  • Recurring and verifiable source of income;
  • Meet external and internal underwriting requirements taken in whole or in part;
  • Legally meet all requirements to enter into a contract;
  • Have an open and active checking account.

Can I pay a loan back earlier?

Yes, you can. It will reduce the amount of finance charges. Use one of payment options to return borrowed funds without any penalties.

Can I take a loan if my credit score is low?

Your credit score doesn’t affect your eligibility to get a payday loan. Bright Lending assesses many things before approve any customer. If you have met other requirements, you will be approved even with a bad credit history.

How to pay a loan back?

Possible repayment options are:

Payment Methods:

Electronic Payments:

  • ACH;

Manual Payments:

  • Personal Check;
  • Cashier’s Check;
  • Money Order.

Does Bright Lending have a mobile app?

No, it doesn’t. This lending website has a mobile version so that you may use your gadget to leave an application.

Conclusion

It seems brightlending.com is a legal, reliable company that offers short-term installment loans. The loan amounts are from $300 to $1,000. It provides different terms and rates for new and returning clients. Bright Lendingdoesn’t serve residents from several states and areas that are specified above. Before submitting an application, please get acquainted with this list.

Reviews

1.0 rating

I called this service to pay my loan in full 4 days before my due date and they said no penalty will happen but yet I’m paying $80 back in interest this is definitely a scam so ppl don’t deal with them there defrauding people.

Robin Tineo
1.0 rating

This company should not be in business. I was approved for $600.00. I signed the loans documents and was told the money would be deposited into my account the next day. After waiting over a week and making 5 different phone calls to them I’m told they now need my personal bank information to access my account. I refused to give it to them so they told me my application would be pulled and denied.

Suzanne Griffin

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