Is the online loan a scam?
If you search for a loan online, you will find thousands of websites offering loans. At times, the websites which rank well, may not be the most reliable.
Some tips for determining whether a loan offered is legitimate or a scam:
1) The company should have their own website and they should not use a free email address like yahoo, gmail, hotmail, live
2) When you fill out their application form, they should have a secure website since you are providing confidential information.
3) Do a search using search engines with the company + fraud and also + scam . Also check if the company is listed with the Better Business Bureau (BBB) and there are complaints on the rip off report.
4) They should not demand any fees upfront before releasing the loan. Any processing fees should be deducted from the proceeds of the loan. Most scammers want their fees via Western Union or Moneygram
5) They have a real physical address where you can send mail to
6) They have a landline telephone phone number corresponding to the physical address, not a cell phone number