Ladder Loans Review: A Closer Look

September 11

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Recently, I received an intriguing offer in the mail: a pre-approved personal loan from Ladder Loans, up to $44,000 at 5.49% APR. This interest rate seemed competitive, prompting me to delve deeper into what Ladder Loans offers and its standing in the financial world.

Ladder Loans - Mail Front
Ladder Loans - Mail Back

Let’s look at what’s available about this company on the Internet.

In-Depth Analysis of Ladder Loans

Ladder Loans, starting operations in 2022 as an LLC in Lake Forest, CA, specializes in installment loans aimed at helping borrowers with high-interest debts. Their appeal lies in lower interest rates and a single monthly payment system, simplifying debt management for borrowers.

Their loan amounts range from small sums to a maximum loan amount of $44,000. To qualify for a loan with Ladder Loans, a borrower’s credit score is considered, and eligibility is determined based on verification of personal and financial information.

Investigating the Company’s Credentials

Based on the company’s website data, the company is relatively new, having started in 2022, and is a Limited Liability Company (LLC). Their physical address is in Lake Forest, CA.

Ladder Loans - Company address

Despite their claims, details about Ladder Loans’ terms and hidden costs remain elusive. Intriguingly, while Ladder Loans itself isn’t registered in California, their associated loan brokerage, Evvo Financial, commenced operations in mid-2023.

Currently, we know only that Ladder Loans is a lender providing loan referral services.

All loan brokerage is provided by Evvo Financial, 17220 Newhope St, Suite 222, Fountain Valley, CA 92708.

Company Registration Information

At the same time, the Secretary of State California database does not have any information about Ladder Loans businesses registered in California:

Ladder Loans - California Secretary of State

At the same time, Evvo Financial as a company had been registered in the middle of 2023:

Evvo Financial - California Secretary of State

Web Presence and Customer Feedback

The digital footprint of Ladder Loans traces back to 2010, initially redirecting to a UK-based website. A significant shift occurred in March 2023, when Ladder Loans launched its current website, closely followed by Evvo Financial’s registration.

Ladder Loans - Initial website

The first working website version popped up only in March 2023 (a month ahead of Evvo Financial had been registered):

Ladder Loans - First working website

Customer Ratings and Reviews

BBB rating

With three one-star reviews, Ladder Loans’ reputation on BBB is concerning. However, the company’s size and transaction volume should be considered in this context.

LinkedIn Profile

Currently, neither Ladder Loans nor Evvo Financial has a LinkedIn presence. So it is impossible to validate them there.

Google Maps

A Google Maps search reveals that Ladder Loans’ listed address is shared with Incredible Marketing, raising questions about their physical presence.

Incredible Marketing - Office space

Trustpilot rating

A 2.8/5 star rating on Trustpilot paints a mixed picture, with several negative reviews.

Ladder Loans - Trustpilot reviews

Foundational Questions

  • Founding Year: Research indicates Ladder Loans was founded in 2022, but legal documentation is lacking.
  • Location Confirmation: The company asserts it’s based in Lake Forest, California.

Ladder Loans Alternatives

Given the negative reviews and unclear company history, I advise caution with Ladder Loans. For those in need of debt consolidation, consider alternatives from reputable lenders. Here are some trusted names:

  1. Wells Fargo: As one of the largest financial services companies in the world, Wells Fargo offers a wide range of services, including banking, insurance, investments, mortgage, and consumer and commercial finance.
  2. Goldman Sachs: This global investment banking, management, and securities firm provides various financial services, making it a potential alternative to Liberty 1 Financial.
  3. American Express: Known for its charge cards, credit cards, and traveler’s cheques, American Express also offers financial services that could meet your needs.

If Ladder Loans is your only choice, scrutinize their loan agreement thoroughly, inquire about hidden fees, and compare their terms with other lenders to ensure you’re making an informed decision.

FAQ

When was Ladder Loans founded?

Based on the company’s website information and search results, Ladder Loans was founded in 2022. However, we could not find any legal entity associated with this name in the Secretary of State of California.

Conclusion

Given the negative reviews and unclear company history, I advise caution with Ladder Loans. For those in need of debt consolidation, consider alternatives from reputable lenders.

Here’s my list of such companies for you to get started:

The Ultimate Guide to Debt Consolidation Loans

If Ladder Loans is your only choice, scrutinize their loan agreement thoroughly, inquire about hidden fees, and compare their terms with other lenders to ensure you’re making an informed decision. Remember, when you receive an offer, always review the terms, especially the interest rate, and consider how it might affect your credit report.

Andrei Maksimov

About the author

I’m passionate about technology, wealth, and personal finance management. My professional background includes experience in cloud technologies (AWS), Python programming, automation, DevOps, and integration. I'm inspired to become an affiliate marketer in my spare time by the idea of generating passive income and extracting myself from the equation of trading my time for money.

The views and opinions expressed on this blog are purely my own and should not be interpreted as professional financial or legal advice. The content I provide is for informational purposes only and does not constitute advice of any kind. Any actions taken or decisions made based on information found on this blog are done at the reader's own risk. I am not a professional financial advisor or legal expert, and the information here should not replace the advice of a qualified professional. It is always a good idea to consult with a professional advisor or attorney before making financial or legal decisions.


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