Grace Loan Advance, operating under the name Grace Invest & Loan, has been a subject of scrutiny due to its lack of Better Business Bureau (BBB) accreditation and mixed customer feedback. Understanding these aspects is crucial for potential borrowers considering their financial options.
BBB Accreditation and Rating
Grace Invest & Loan is not accredited by the BBB, which requires businesses to meet specific standards and undergo a vetting process. The BBB has not assigned a rating to this company, indicating insufficient information to evaluate its business practices.
Customer Feedback and Reviews
- Reddit Discussions: Users on Reddit have expressed skepticism about Grace Loan Advance, suggesting it may function as a clearinghouse for loan companies, collecting personal information and potentially selling it. Some users report not finding anyone financed through their third-party lenders.
- Finder Review: The review highlights that Grace Loan Advance is not a BBB-accredited company and lacks transparency regarding eligibility requirements, fees, and company background. Customers have reported receiving excessive promotional emails from lenders before and after completing their application process.
- BestCompany.com Review: This review notes that while Grace Loan Advance is not a direct lender, it connects borrowers with multiple third-party lenders. However, the lack of background information on the company raises concerns about its trustworthiness.
Conclusion
The absence of BBB accreditation and the mixed customer feedback suggest that potential borrowers should exercise caution when considering Grace Loan Advance. The lack of transparency and consistent complaints about unfulfilled promises and hidden fees indicate that this company may not be a reliable choice for financial assistance.
For a more in-depth analysis, you may find the following video review helpful:
