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Grace Loan Advance Personal Loans Review

If you’re looking for a little extra cash to see you through some hard times, you might want to take out a personal loan. These can be great for covering car payments, paying for a vacation, paying off unmanageable debts, or really anything that you may need some spare money for. However, with so many choices out there it can be tough to know where to begin. Grace Loan Advance is a fairly recent company with personal loans to suit most needs.

Grace Loan Advance
Interest rates 5.99%-35.99%
Term lengths up to 72 months
Loan amount $1K-$100K

However, with so many choices out there it can be tough to know where to begin. Grace Loan Advance is a fairly recent company with personal loans to suit most needs.

Wide range of loan amounts
Can receive funding quite quickly
Not much clarity about eligibility or extra fees

Why get a Personal Loan from Grace Loan Advance?

One appealing aspect of what Grace Loan Advance has to offer is that you can take out a loan ranging anywhere from $1,000 to $100,000. This is a really decent range of options, and many larger financiers don't offer such a choice. The process can all be completed online, and once approved your funding can be swiftly deposited into a bank account of your choosing.

What does Grace Loan Advance offer?

While the range of loan amounts you can take out here is very wide, you can’t take any amount of your choosing. Loan options start at $1,000 and go up in $500 increments, so if you’d like to borrow $2,800 you’ll need to take a loan of $3,000. There’s a late payment fee, as with many lenders, but unusually, if you call in advance you’re able to give the lender warning and forgo this fee in some cases.

Eligibility Criteria

There’s very little detail on the Grace Loan Advance website about who’s eligible, but it seems that it services the entire U.S.A. You’ll definitely need to be at least 18 years old, and usually, there’s a minimum credit score requirement, and a minimum monthly earning requirement, but these aren't stated.

How to apply for a Grace Loan Advance Personal Loan?

Applying is pretty simple, and you’ll just need a computer and your relevant personal details. The opening page of the website requires you to specify the loan amount you’re looking for, and from there, you’ll be taken to a form where you'll have to input details such as your social security number, address, and employment status. After this, you have to wait for an email confirming your loan, and only then can you finalize your agreement.

Rates, Terms, and Fees

Interest rates

5.99% to 35.99%

Term lengths

From 61 day to 72 months


Not specified

Bottom line

If you need a cash injection, Grace Loan Advance could be a good way to go. There are loan amounts to suit all but the neediest of borrowers, and the starting interest rate is competitive, although it's hard to know how close an APR to this you’ll actually be offered.

The main downside is that it's impossible to know what fees are charged until you receive your agreement and examine the fine print, and this often suggests that there are hidden costs.

For a similar but more transparent and financier, try Upgrade. You can take out a wide range of loan amounts here, and the APRs are competitive. However, it’s a lot more clear about who can apply and what the fees are.