Mobilend Review: It’s Not Actually A Lender, But Is It Legit?

It seems that Kuber Financial is the company behind a popular debt consolidation service, Mobilend. Their site, mymobilend.com, does not offer much information on the service. They are also in the process of launching a new website called mobilend.com.

Mobilend Summary

Having heard a lot about Mobilend recently, we decided to do some research to see what all the hype is about and what Mobilend has to offer. 

It is possible that you have received a letter informing you that My Mobilend, Inc. is going to consolidate your debts. Now you might have some questions. So let’s get some answers here.

The following is a summary of what we found:

• There is a third party that is responsible for processing all loan requests.
• If you apply for a loan from a participating lender, it does not guarantee that you will receive loan approval.
• Depending on the terms that the lender sets, the APR (annual percentage rate) on a loan will vary from one to another.
• The company does not act as a lender or broker in any way. 
• You will be referred to participating lenders who will deal directly with you.
• A credit check may be conducted by a lender in order to determine whether you are eligible for a loan.
• Not all states are able to take advantage of the service provided by them and their qualified lenders.

What Is Mobilend?

In business since 2015, Mobilend is a dba of Kuber Financial and offers debt consolidation loans funded by third-party lenders. They can be reached at (866) 330-1669 or found at 400 Spectrum Center Dr. Ste 350 in Irvine.

With an A+BBB rating, Mobilend has been accredited since 4/6/2020 and has received an average of 2 reviews. This business has 0 complaints but is rated 1 star out of 5.

How Does It Work?

Unlike other services, Mobilend connects you with participating lenders. They do not control the eligibility requirements that they set for borrowers. In addition, the APR/Interest rates are based on the terms each lender sets.

The program has many lenders and brokers who participate, but they don’t endorse any of them. They do not charge you for referrals to participating lenders.

How To Qualify For A Mobilend Loan

A lender will likely check your credit score before extending you a loan to assess your risk. By submitting a loan application to a participating lender, you authorize them to run a credit check on you and verify the information you provided. This helps lenders determine whether you are eligible for a loan and what terms you will be offered.

You are not guaranteed that Mobilend will refer you to a lender who will approve you for a loan. Your application may be denied if they feel you do not meet their lending criteria. Your credit history and employment will be verified and confirmed before any decisions are made. Additional information, such as income verification or consumer credit reports, may be requested by the company or lender.

Mobilend BBB Reviews

Mobilend has an A+ rating and accreditation from the Better Business Bureau since 4/6/2020. The company has an average of two customer reviews and a 1-star rating.

A few BBB reviews are listed below:

Armand I 08/20/2022

The company tries to push you to sign up with them and stay away at all costs!

David M 03/25/2022

***** Received an email claiming I was turned down for a loan by them, but I had never contacted nor heard of them before. When trying to call them (multiple phone numbers were fake), one line (local in ******, **) went to a message that due to extremely high call volume, they couldn’t take my call.

The Next attempt was to one of their MANY toll-free numbers, and after waiting on hold for 10 minutes, the same message as before, but this time asking for me to leave a message. The remaining attempts (5 more) were to lines that were not valid and did not work. This is a SCAM trying to steal people’s information. Stay away at all costs!

Mobilend FAQs

What Are The Fees For Mobilend?

Mobilend never charges you a fee when you find a participating lender. Interest rates will vary based on the lender’s terms, but they will always fall between 5.59% and 21.48%.

How Much Can You Borrow From Mobilend? And For How Long?

According to your state’s regulations, you may be able to borrow up to $55,000 for a term of one to five years.

What Is The Minimum Credit Score For A Mobilend Loan?

Your eligibility for a loan will likely be assessed by a credit check performed by a lender as you consider taking out one. When you request a loan from a participating lender, you authorize them to independently verify the information you have provided and to check your creditworthiness.

How Does Mobilend Affect Your Credit?

If you consider applying for a loan from this company, you can rest assured that comparing your rates won’t impact your credit score. Nevertheless, lenders may conduct credit checks during the evaluation process. When you submit a request to a participating lender, you authorize the lender to verify your information and assess your creditworthiness.

How To Cancel Mobilend

A personal loan can be canceled before the funds have been deposited into your bank account. Once the funds have been deposited into your account, the application cannot be reversed or canceled.

Is Mobilend Legit?

Mobilend has an A+ rating from the Better Business Bureau and has been accredited since 4/6/2020. However, they have a 1-star rating from the BBB.

You should be aware that this company is not a lender. Instead, they work with third parties to fund loan applications. They are not responsible for the creditworthiness or eligibility of the participating lenders.

To find the right financial company for your needs, you should conduct your own research and read as many customer reviews as possible. There is no one-size-fits-all approach when it comes to choosing a financial company.

Let us know if you have any experience with mymobilend.com.

Thanks.