About RapidLoansDirect

Owned by BSIDC, LLC and based out of Houston, TX RapidLoansDirect is an online business that matches you with participating lenders, who can provide you with personal loans ranging anywhere from $500 to $5,000 or more. Unlike most lending networks, RapidLoansDirect targets individuals who have “good” to “excellent” credit ratings, though they can provide you with alternative options if you have a lower credit score.

Neither BSIDC, LLC nor RapidLoansDirect are listed with the Better Business Bureau, therefore a rating is not available. From a customer satisfaction standpoint, we were unable to find any legitimate online customer reviews, so third party verification of the company’s procedures was not possible.

How RapidLoansDirect Works

Much like MoneyMutual and BetterLoanChoice.com, RapidLoansDirect does not perform any lending; instead, they act as a peer-to-peer lending network, and match you with a participating lender than best meets your specific needs. However, RapidLoansDirect is different in two primary ways:

  • RapidLoansDirect specializes in personal/installment loans, which are different from “payday” or “cash advance” loans in that they can be repaid over the course of 1, 3, or 5 years.
  • Installment loans generally carry much lower interest rates.

In order to apply for a RapidLoansDirect loan, you’ll need to meet at least the following basic criteria:

  • At least 18 years of age
  • U.S. Citizen
  • A steady job or other source of regular income (e.g. social security, disability, etc.)
  • An active bank account (preferably one that accepts Direct Deposit)
  • Looking for a loan of $1,000 or more
  • Good to excellent credit rating

According to the RapidLoansDirect website, the application process works in four easy steps:

  1. Choose your credit score, the reason you’re applying for a personal loan, and your monthly income from the drop-down menu.
  2. Next, you’ll be required to complete a “short, safe & secure” application.
  3. Your information is shared with the RapidLoansDirect network of lenders.
  4. If approved by a lender, they will send you all the details for your loan, including the amount, APR, and all repayment information. In many instances, you may be required to meet directly with the lender to finalize the paperwork. Finally, funds will be directly deposited into your bank account.

RapidLoansDirect Pricing

RapidLoansDirect is free to use, though according to the company’s website, participating lenders will charge installment loan interest rates that range between 35% and 420%. If you don’t qualify for an installment loan, you may be presented with alternatives that include non-installment loans with much higher APRs. Also, it’s important to keep in mind that each lender will have their own repayment terms, penalties, and fees, so it’s important to read your documentation carefully prior to accepting.

Bottom Line: Is RapidLoansDirect a Scam?

Like MoneyMutual and BetterLoanChoice.com, RapidLoansDirect does seem to be a legitimate website that matches you with a lender that best matches your needs. However, there are a couple red flags we uncovered while performing our research:

  1. There are little to no online reviews about the RapidLoansDirect, or the lenders that make up their network.
  2. The address of BSIDC, LLC is a PO Box, and no information about the LLC is available online. However, the company’s website does provide an 888 number to call for questions, though we did not attempt to contact.
  3. Under the Terms section of the website, it is stated that this “is an online advertising marketplace.” This leads us to believe that, instead of RapidLoansDirect being a company that was formed in order to provide you with the best installment lenders available, it is instead one (or more) lenders that joined forces to create the site.

With this said, if you choose to use RapidLoansDirect to obtain an installment loan, we would recommend completing a thorough background check on any lenders that contact you, and monitoring your financial accounts closely thereafter.

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Read 3 RapidLoansDirect Customer Reviews and Complaints

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Average Consumer Rating: 1.0
Rating Snapshot:
5 star: 0 4 star: 0 3 star: 0 2 star: 0 1 star:  3
Bottom Line: 0% would recommend it to a friend
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  • 12 out 12 people found this review helpful

    Gift card...really?

    • Longview, WA,
    • Jul 21, 2016
    • Verified Reviewer

    The entire process was going very well until Jenny White (ext. 003) 423-777-2394 informed me that in order to guarantee the loan I had to purchase a gift card (one that I would not be able to get any cash back). No Visa or Mastercard. A gift card from store (my assumption is from a store like Walmart). Then take a picture of the receipt and email it to them. REALLY? I told her no way. She has now called two more times since this morning. I have now blocked the number.

    Bottom Line: No, I would not recommend this to a friend

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  • 21 out 21 people found this review helpful

    Bad review

    • Corpus Christi, TX,
    • Jan 19, 2016

    I typed in all the info required, even account and routing number and Social Security number just for a "we're sorry response." Total fraud. If i get ripped off I will sue whoever is behind this idea. My suggestion to all is: Don't do it. I'm in a bind and that's the only reason I did and I regret it.

    Bottom Line: No, I would not recommend this to a friend

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  • 22 out 22 people found this review helpful


    • Las Vegas ,
    • Dec 22, 2015

    Why would you need my PIN number for my bank? Total fraud - do not use.

    Bottom Line: No, I would not recommend this to a friend

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