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Jora Credit Installment Loan Review

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Jora Credit installment loans are catered to those in need of emergency funds. With high interest rates and small loan amounts, Jora Credit may be best for those who can repay their loan quickly. The application process is simple and straightforward. Plus, you can apply via computer, phone or tablet. If you are approved for a Jora Credit installment loan, funds may be available the same day. However, availability is limited as Jora Credit only offers loans in select states. Keep reading to learn more.

Jora Credit installment loan highlights

  • High rates: Interest rates range from 170.00%–349.00%. This makes Jora Credit a high-cost loan option. (You can calculate your cost for a loan with this payment calculator.)
  • Small loan amounts: Jora Credit offers installment loans in amounts ranging from $500 to $2,600.
  • Few fees: There are Not specified, prepayment penalties, or late payment fees.
  • Limited availability: Installment loans from Jora Credit are only available in 10 states: Alabama, California, Delaware, Idaho, Missouri, New Mexico, North Dakota, South Carolina, Utah and Wisconsin.
  • Unique services for borrowers: Jora Credit offers services to help borrowers find employment opportunities and otherwise improve their finances through its Allay division. It includes tools to help individuals compare their salary to others in similar positions and to explore various career paths.

Jora Credit at a glance

  • APR range: 170.00% to 349.00%
  • Minimum credit score: Not Specified
  • Terms: 8 to 30 months
  • Origination fee: Not specified
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Terms Fees and penalties
  • Terms: 8 to 30 months, but varies by state.
  • APR: 170.00% to 349.00%
  • Loan amounts: $500 to $2,600
  • Time to funding: Same day or next day
  • Credit check: Soft Pull
  • Origination fee: Not specified
  • Prepayment fee: None
  • Late payment fee: Not specified
  • Non-sufficient funds (NSF) fee: Not specified

Eligibility requirements

  • Minimum credit score: Not specified.
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

In order to qualify for a loan from Jora Credit, you must be at least 18 years of age (19 in Alabama). You must have a job or some source of verifiable income as well as an email address and a checking account. Your credit history will also be evaluated, though Jora Credit doesn’t specify a minimum credit score or income-to-debt ratio to qualify. Rather, it states that you “don’t necessarily” need good credit to get a loan, and that numerous factors are considered.

Jora Credit only offers loans in 10 states: Alabama, California, Delaware, Idaho, Missouri, New Mexico, North Dakota, South Carolina, Utah and Wisconsin.

In Kansas and Tennessee, Jora Credit offers personal lines of credit with the following terms:

State Borrowing limits APR
Kansas $800 to $2,000 for new customers 230% – 349%
Tennessee $800 to $2,000 for new customers 274.85%
Accurate as of Sept. 4, 2019.

What borrowers are saying about Jora Credit

On LendingTree, Jora Credit has just one reviewer; Carl from Lamar, Mo., gave the lender high marks: “The whole loan process was fast and easy. Very straightforward about the application process and bank verification,” he said. “Thank you Jora for your help.”

While customer reviews are a great way to get a sense of what your experience with a lender may be like, it’s important to shop around and compare loan specifics to see which can best meet your unique needs. Be sure to review lenders’ fee structures, credit requirements, interest rates and other details, all of which can make a significant difference in how much a loan costs you overall.

As you shop, remember that your credit history and personal finances will dictate just how plentiful and favorable your options are. While some lenders advertise low interest rates, those are often only granted to those with excellent credit. If your credit score is low (particularly if it’s below 0), you may only qualify for high-interest credit, if at all.

Applying for an installment loan from Jora Credit

As long as you live in one of the states Jora Credit serves, the application and approval process is simple. You fill out a form online that asks for basic personal and financial information, and typically within seconds, you find out if you qualify as well as how large of a loan you’re approved for and the terms of that loan.

If you accept the loan by 10:30 a.m. CST on a business day, the funds will be deposited in your bank account that same day. If you accept after 10:30 a.m., you’ll get them the next business day. If you prefer a paper check, it will take seven to 10 business days.

Pros Cons
  • Simple application process.
  • Quick access to funds.
  • No prepayment or late payment fees.
  • Not available in all states.
  • Sky-high interest rates.
  • Low maximum loan amount of $2,600.

Who’s the best fit for a Jora Credit installment loan?

A Jora Credit installment loan may be a good option for people who are in need of quick access to a relatively small amount of money and who may not qualify for loans with more competitive rates. With short loan terms, Jora Credit is also best for those who don’t want to be in debt for long.

Despite its high rates, Jora Credit offers no prepayment penalties. That means borrowers who intend to repay their debt quickly can do so without added fees.

Because the interest rates on loans from Jora Credit are so high, borrowers should explore other options first to ensure they don’t qualify for better rates elsewhere. Bad credit borrowers, meanwhile, should comparison shop with lenders they may also qualify with.

If a Jora Credit loan is your most viable option, you should have a solid plan to pay off the debt as soon as possible; the high interest rates can quickly drive up the price of a loan.

Alternative loan options


  • APR: 7.95% to 35.99%
  • Minimum credit score: 640
  • Terms: 36 or 60 months
  • Origination fee:  2.41% - 5.00%

Prosper is a peer-to-peer lending platform where borrowers may find personal loans with significantly lower interest rates than on Jora Credit’s installment loan. Also, while Jora Credit’s loans max out at $2,600, those found through Prosper may be for up to $40,000.

Prosper doesn’t list a minimum credit score for approval; however, it does require that borrowers have debt-to-come ratio that’s less than 50%, haven’t filed bankruptcy in the past 12 months and have less than five credit bureau inquiries in the past six months. It also requires that borrowers have at least three open trades on their credit report. Jora Credit doesn’t specify a minimum credit score or minimum debt-to-income ratio, but it does state that bad credit isn’t necessarily a deal breaker.

It may take longer to receive funds through Prosper — up to 14 days as opposed to one to two days with Jora Credit.

Prosper is a peer-to-peer lending platform that offers a quick and convenient way to get personal loans with fixed and low interest rates. The interest rate you receive is determined by their own proprietary “Prosper Rating.” You can qualify for a loan with average credit and there are no prepayment fees, but your origination fee can be expensive, depending on your Prosper Rating.


  • APR: 7.04% to 35.89%
  • Minimum credit score: Not specified
  • Terms: 36 or 60 months
  • Origination fee: 3.00% - 6.00%

Like Prosper, LendingClub is a peer-to-peer lending platform. Borrowers may qualify for personal loans for up to $40,000. Rates are lower than those offered by Jora Credit, capping out at 35.89%.

Unfortunately, LendingClub doesn’t outline credit requirements. Borrowers who are approved for a loan through LendingClub may receive their funds as few as four days, but it can take up to a 7 days. There’s no prepayment fee, but there is an origination fee to take into account.


  • APR: 9.95% to 35.99%
  • Minimum credit score: 600
  • Terms: 24 to 60 months
  • Origination fee: Up to 4.75%

Avant offers personal loans with larger borrowing limits ($2,000 to $35,000) than those offered by Jora Credit’s installment loan. Interest rates are also more favorable when compared to Jora Credit. While Avant doesn’t state a minimum credit score required to secure a loan, it does note that most of its customers have credit scores that range between 600 to 700.

Avant loans have an origination fee, which is deducted from your loan. There are no penalties for prepayment, but Avant does charge late payment fees. If your loan is approved, funds are typically deposited quickly, as soon as the next business day.

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