Centennial Funding Review: Is It A Scam Or Is It Legit?

When you need money for unexpected expenses or to consolidate your debts, finding a lender can be a daunting task. This is where companies like Centennial Funding come in, offering to connect you with independent lenders who may be able to provide the credit you need. But is Centennial Funding a scam or is it legit? In this article, we’ll take a closer look at this company and what it has to offer.

What is Centennial Funding?

Centennial Funding is a lead generator company that works with a network of independent lenders to offer personal loans and debt consolidation loans. However, it’s important to note that Centennial Funding does not lend money or engage in any lending activities itself. Instead, it serves as a middleman, connecting borrowers with lenders who may be able to provide the credit they need.

How does Centennial Funding work?

Centennial Funding works by reviewing your application and connecting you with a lender who meets your needs. Each lender has its own set of standards, and while one lender may decline to extend credit to you, Centennial Funding will work to find a lender who is willing to work with you. Loan laws vary from state to state, so customers may qualify for loans of varying amounts and terms based on creditworthiness and state law.

To qualify for a Centennial Funding debt consolidation loan, you will need to submit an application that includes verification of your credit history and score, verification of your monthly expenses, and verification of your employment and income. It’s important to note that the originating lender or debt consolidation company will be the creditor for all accounts, not Centennial Funding.

What are the terms and conditions of a Centennial Funding loan?

According to the company’s website, a customer’s loan amount, term, and APR may vary based on credit determination and state law. Minimum loan amounts also vary by state. Annual Percentage Rates (APR) range from 2.92% to 24.99%. It’s important to note that the approval process may take longer if additional documents are requested, and loan terms will vary based on credit determination and state law.

How much does Centennial Funding charge?

After an extensive search of the Centennial Funding website, we were unable to find any information regarding how they receive payment. There is no mention of fees or how they generate income anywhere on the site.

Are there any pre-payment penalties?

With Centennial Funding, you’ll have a variety of personal loans available, each with different terms and conditions. Some lenders allow for early repayment or overpayment, while others have strict payment schedules. It’s important to review the terms and conditions of each loan carefully to determine whether there are any pre-payment penalties.

What is a debt consolidation loan?

A debt consolidation loan is a type of loan that allows you to pay off multiple debts with a single monthly payment. This can be a great way to save money on interest and simplify your finances. There are two main types of debt consolidation loans: secured and unsecured. A secured debt consolidation loan uses collateral, such as your home equity, to secure the loan. An unsecured debt consolidation loan does not require collateral but typically has a higher interest rate.

FAQs

How does Centennial Funding differ from traditional lenders?

Centennial Funding differs from traditional lenders in that they do not lend money themselves. Instead, they work with a network of independent lenders to connect borrowers with the best possible loan options. This means that borrowers may have access to a wider range of lenders and loan options than they would if they were working with a single traditional lender.

Does Centennial Funding charge any fees?

According to the company’s website, we were unable to find any information regarding how they receive payment. There is no mention of fees or how they generate income anywhere on the site. It is possible that Centennial Funding receives a commission from the lenders they work with for connecting borrowers with loan options, but this is not explicitly stated on their website.

How does Centennial Funding affect my credit score?

Whenever you apply for a loan, whether through Centennial Funding or any other lender, the lender will perform a credit check. This can have a temporary negative impact on your credit score, as credit checks are recorded on your credit report. However, if you make timely payments on your loan, this can help to improve your credit score over time.

Can I cancel my loan after it has been approved?

Once your loan has been approved and the funds have been disbursed, you cannot cancel or reverse the loan. This is because the loan is now a binding legal agreement between you and the lender. It’s important to carefully review the terms and conditions of any loan before signing on the dotted line to ensure that you fully understand your obligations as a borrower.

Is Centennial Funding available in all states?

No, Centennial Funding is not available in all states. According to the company’s website, loan amounts, terms, and APR may vary based on credit determination and state law. Minimum loan amounts also vary by state. This means that the availability of loans may differ from state to state, and borrowers should consult with Centennial Funding to determine whether they are eligible for a loan in their state.

Is Centennial Funding Legit?

Based on our research, Centennial Funding appears to be a legitimate company that offers a valuable service. They have been in business for 7 years and have an A+ rating with the Better Business Bureau (BBB). However, it’s important to note that they are not accredited by the BBB, and they do not have any reviews or complaints filed against them.

Before deciding to do business with any company, it’s important to research them thoroughly and read customer reviews. This will help you make an informed decision about whether the company is right for you.

Conclusion

In conclusion, Centennial Funding is a lead generator company that works with a network of independent lenders to provide personal loans and debt consolidation loans. While the company does not lend money or engage in any lending activities itself, it serves as a middleman, connecting borrowers with lenders who may be able to provide the credit they need.

According to the company’s website, the terms and conditions of a Centennial Funding loan may vary based on credit determination and state law. Minimum loan amounts also vary by state, and Annual Percentage Rates (APR) range from 2.92% to 24.99%.

It’s important to note that Centennial Funding does not have any reviews or complaints filed against them, and they are not accredited by the Better Business Bureau (BBB). While this doesn’t necessarily mean that the company is not reputable, it’s important to research any company thoroughly before doing business with them.

If you’re considering a debt consolidation loan or a personal loan, Centennial Funding may be a good option for you. However, it’s important to carefully review the terms and conditions of any loan before signing on the dotted line. Additionally, it’s a good idea to compare offers from multiple lenders to ensure that you’re getting the best deal possible.

Overall, while Centennial Funding may not be a scam, it’s important to approach any financial decision with caution and to do your research to ensure that you’re making the best decision for your needs.