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Tower Loan Reviews- Are They Decent Loans for Bad Credit?

Tower Loan mainly received good reviews from customers. Trustpilot gave Tower Loan a rating of 4.75.

The Better Business Bureau website has fewer positive reviews.

What do you need?

Tower Loan Highlights

Tower Loans can be used to finance personal or business purposes.

Soft Credit Pull – Pre-qualify

Tower Loan can be contacted in person to assist with loan applications. They accept online applications.

We are not sure if online applications include a soft credit pull or if they will affect your credit score.

It is possible to do this online. You will need:

  • Contact information and Personal information
  • your financial records
  • Employment proof

Accepted

Tower Loans require proof of employment to obtain a loan. The loan does not disclose acceptable debt-to-income ratios.

Line of Credit

 Specializes in personal loans. A fixed interest rate can be applied to the loan for a set period.

Credit Health Tools

Personal loans can be used to pay for medical bills or medication payments.

Hardship programs

 Does not currently offer any information on assistance programs for loan repayment.

If you are having trouble paying your loan, you may have to consider other options.

No Prepayment Penalty

Won’t penalize you if you repay your loan early, offers an online portal that allows you to make lump-sum payments anytime you like.

Unsecured Loans

Tower Loans offer personal loans that can be unsecured or secured, depending on the client’s financial situation.

Fees

 Doesn’t disclose the fees structure. The loan can be paid off early, but there is no prepayment fee

How to Qualify

To be eligible you must meet these criteria:

  • 18-year old (19 in Alabama). Or older
  • Living in Alabama, Mississippi, or Missouri.
  • Have a job or an income source.
  • Please enter a valid email address
  • Open a checking/savings account

The bottom line

Tower Loan is a well-known player in the financial industry.

Upstart offers many repayment plans, including hardship programs that temporarily suspend repayment.

Onemain Financial may be a good choice. They have similar industry experience and loan amounts.

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information purposes only
Jason Rathman