Mobiloans Reviews: Here’s What You Need to Know

Is Mobiloans a reliable lender or are they a scam?

mobiloans reviews

Urgent: Do Not Apply for a Mobiloans Loan Until You Read This Review

Our Review of Mobiloans

Brian Allan

mobiloans reviews
Loan Amount
Loan Cost
Funding Time
Customer Support
Application Process


Mobiloans is a tribal lender that offers a line of credit to potential borrowers.  You’ll typically be approved for a specific loan amount, but instead of depositing the full amount into your checking account, you can simply borrow what you need. 

For example, let’s say you need $500 for an emergency expense.  They approve you for $1,000. 

Therefore, you can transfer $500 from your line of credit into your bank account, and still have $500 in the form of a line of credit.  That said, it’s typically not something we recommend. 

Only borrow what you need.  This form of financing is similar to “dangling a carrot” in front of consumers with bad credit.  And the more you borrow, the more you’ll pay in fees and interest rates over time. 

Typical interest rates of are between 206.14% – 442.31% APR.  You can borrow as little as $200 up to a maximum of $2,500.


– Offers a line of credit, which should be used with caution

– Application process is simple and straightforward

– Good option for those with bad credit issues


– Expensive form of borrowing

– Not a good solution for large financial purchases


Mobiloans is a tribal lender and offers consumers bad credit loans in the form of a line of credit.  A Mobiloans line of credit is a more flexible way to borrow that allows you to avoid payday loans and costly bank overdraft fees.

When life gets in the way and you can’t pay your bills, Mobiloans might be the solution you need.  Consumers that need an emergency loan often run into issues like:

  • Unexpected auto repair bills
  • Unexpected medical bills
  • Unpaid time off work
  • Needs money to pay rent
  • Help with paying groceries
  • And more…

With not many options available, consumers with bad credit often turn to tribal lenders.

This type of lender does not consider credit score and history for approval.  However, they might consider this information when determining your APR and fees.  When shopping for a bad credit lender, always do your research.  This industry is full of loan sharks that offer usury loans.

Are they a reputable lender that actually helps consumers with financing to pay emergency bills without the scams?  Let’s find out more about them, shall we?

What is Mobiloans and How Does it Work?

how does mobiloans work?

According to Mobiloans, they are a “new and flexible way to borrow emergency cash.” Based in Marksville, Los Angeles, Mobiloans is a tribal lender that has been offering lines of credit since 2011. Operating in 30 states within the US, they have provided hundreds of thousands of loans.  Mobiloans is a complete 180 from typical payday lenders.  It’s similar to a credit card – but, minus the physical card. 

You can borrow money from a range of $200 up to a maximum of $2,500. Loan repayments for new customers are within the first 30 days and thereafter, every 14-17 days.  Bear in mind that your income and a minimum credit score of 300 will determine your eligibility.

How to Apply & Get Approved for a Loan From Mobiloans

You’ll first need to submit a loan application.  There are 4 steps to the application process.

Step One of the Loan Application (Account Creation)

mobiloans application 1

Details on step 1 you will need:

  • First Name
  • Last Name
  • Date of birth
  • Email address
  • Create password

Agree to terms of service and click “Continue”.

Step Two of the Loan Application (Personal Details)

mobiloans application part 2

Details on step 2 you will need:

  • Physical address
  • Whether you rent or own your home
  • Monthly mortgage/rent amount
  • Home phone
  • Cell phone
  • Social security number (will need to enter twice)
  • Driver’s license number and issuing state
  • Mobiloans needs to know your military status

Step Three of the Loan Application (Financial Details)

mobiloans application part 3

Details on step 3 you will need:

  • Income type
  • How often you are paid
  • Amount per paycheck
  • Additional monthly income (optional)
  • Additional job income type
  • Bank name
  • Bank routing number
  • Checking account number
  • Confirm checking account number
  • How long you’ve had your checking account
  • If you have direct deposit

Once complete, click “Next”.

Step Four of the Loan Application (Review Loan Terms and Submit)

mobiloans application part 4

Details on step 3 you need to do:

  • Review the terms of service carefully
  • Enter the last 4 digits of your social security number
  • Review each disclaimer in the check boxes section.  If you agree, check the boxes
  • If satisfied, click “Submit”

Note: Even if you have a low credit score, you might still be eligible for a line of credit.  However, there is still a limit that you might want to keep in mind.

Update: Mobiloans requires a minimum credit score of 300

You may be wondering if you have to be employed to get a line line of credit.  You do not have to be employed…as long as you can prove that you have reliable income. And of course, that you have the ability to repay the loan.

You’ll also need to prove that you are a citizen of the United States.

That’s about it. You’ll be required to send in a copy of your driver’s license, as well as some proof of your income.

After conducting a soft credit check, you’ll be notified if you are approved. 

How Much Will a Loan From Mobiloans Cost?

how much does mobiloans cost?

Mobiloans has variable interest rates with ith competitive interest rates, at least compared to similar tribal lenders’ APR.  Your APR depends on how much you borrow and how long you set the loan term.  The average APR of a Mobiloans line of credit is between 206% and 442%. 

While a 206% APR is still considerably high (even on the low end), most consumers with bad credit will not have many options to consider outside of tribal loans. 

440% APR is the average APR most tribal lenders charge.  And if you have decent credit, you may qualify for the lower APR of 206%.

How Much Will Mobiloans Let Me Borrow?

how much can i borrow from mobiloans?

Mobiloans, let’s you borrow as little as $200 and as much as $2,500.  Your loan will be in the form of a line of credit.  You’ll be able to withdraw from this line as much as you need. You will be required to make at least two payments per month – interest included. Does Mobiloans charge any additional fees? Unfortunately, it appears they do.  A few additional charges you should be aware of:

  • Fixed financing charges
  • Late fees (if you don’t make payments on time)
  • Cash advance fees for every $20 withdrawn

Thoroughly discuss upfront charges and ongoing fees with your lender to avoid “hidden” fees.

What Are The Loan Terms for Mobiloans?

mobiloans scam

According to several Mobiloans reviews, the term of the loan will depend on how much you borrow – and how many billing cycles you opt for.  You can choose 13 billing cycles, which will last for about 6 months – and they can go as far as 60 billing cycles.  Important: the longer the loan term, the more you’ll pay in interest charges, so please be aware of that. New customers will make their first payment within 30 days.

After this, you must make a minimum of two monthly payments.

Sadly, Mobiloans does not have the option for you to make monthly payments – which could make budgeting easier.

Important: if you are late with your payments, expect late payment fees.

If you anticipate being late with your payments, you can discuss an extension with Mobiloans. If this happens, Mobiloans might adjust your your interest rate.

The Advantages of Mobiloans

mobiloans advantages

Mobiloans can be an attractive option for borrowers, as long as you request small loan amounts and make on-time payments. As long as you fully read the terms of service, you shouldn’t be hit with any unexpected charges and fees.  This is the main reason many borrowers have left bad reviews for Mobiloans.   If you can do these things, and pay the loan back as soon as you can, you should not have any issues.

That said, here are the major advantages of this lender:

No Prepayment Penalties

If your goal is to repay the loan as quick as possible, (and it should be), this is called a “prepayment”.  Some lenders penalize you with pre-payment fees, etc.  Fortunately, Mobiloans does not charge penalties to pay your debt earlier than scheduled.

Just remember to never be late with your payments.

Funds Are Deposited Within 24 Hours

If you sign up for autopay, you’ll get the funds no later than 24 hours. This will obviously depend on the processing time – but the earlier you are with the request, the sooner you’ll get the money.

For instance, if you make your request at 7 AM, there is a chance that you can get your line of credit by 5 PM. However, if you submit your application late in the afternoon or evening, you may have to wait until the next day.

There’s No Need for Employment

Many people get denied for a loan or a line of credit simply because they are unemployed.

However, with Mobiloans, you may easily borrow as long as you can prove you have some form of monthly income.

You Get Rewards

If you make your payments on time, you also get reward points. These points come with benefits, such as discounts on your cash advance. These discounts range from 15% to 80% – and the more conscious you are with your payments, the less you will have to pay on cash advance fees.

Round the Clock Customer Support

If you need help from Mobiloans outside of business hours, their customer support is available 24/7. However, bear in mind that this feature is automated. If you are looking to talk to an actual person, you should try to contact them when Mobiloans provides live customer support.

The Disadvantages of Mobiloans

what are the mobiloans disadvantages?

While Mobiloans has impressive advantages, they also have their disadvantages…as anything typically does.  But even with the disadvantages you see below, it very well might be the best option for you.  Especially if you have bad credit and your credit score is between 300 – 575.  If your credit score is higher than 575, you are better off shopping for a traditional personal loan.

Here are some of the main reasons why people may steer clear of Mobiloans.

High APR

This a super expensive line of credit. The APR can range from 206% to 442%, so exercise extreme caution. Be sure to shop around and compare interest rates from multiple lenders. If you decide to go with Mobiloans, make sure you pay the loan off as quickly as you can.

Potential Overdraft Fees

If you sign up for autopay, it will take out the drag of having to make the payments yourself every day. However, in the event that you don’t have the funds necessary for auto paying, there is a risk that you will be charged overdraft fees.

These can be avoided if you make sure there are enough funds in your account.

Bi-monthly Payments

While this may not be a problem if you receive bimonthly paychecks, it can be an inconvenience if you receive a paycheck once a month.  This might cause budgeting issues for you, and if you aren’t careful, could cause you to overdraft.

Limited Availability in the U.S.

According to many Mobiloans reviews, you can get a line of credit from most states in the U.S.

However, there are a total of 20 states from which you cannot borrow. These states include:

  • Arkansas
  • Washington DC
  • New York
  • New Jersey.

Limited Alternative Payment Options

In the event that you cannot setup autopay, Mobiloans sends the amount of your loan in the form of a traditional paper check.

However, note that this can take a couple of days – and may not be such a great option if you need money quickly.

The Bottom Line on Mobiloans

mobiloans bottom line

The bottom line is that Mobiloans is, indeed, a legit lender. Customers point out that their transactions are smooth and straightforward.  And, if you are timely with your payments, there will not be any hidden surprise fees. However, Mobiloans is still very expensive.  Make sure you truly need the money and that you have exhausted all other options before applying.

Mobiloans Reviews: Here’s What You Need to Know