Sail Loan Review (Is It Legit or Scam?)

Do you need a quick and hassle-free loan to cover your financial obligations? Sail Loans may be the answer to your troubles. With the ability to borrow up to $4,000 and receive your funds within minutes, Sail Loans offers a streamlined process for securing installment loans.

But with so many lenders out there, it’s essential to ask: Is Sail Loans a legitimate lending company?

In this blog post, we’ll take a deep dive into Sail Loans review and uncover the truth about this lender so you can make an informed decision.

Whether you’re facing unexpected expenses or need a financial boost, Sail Loans may be the solution you’ve been searching for.

What is Sail Loan? (Detailed Review)

Sail Loans is a lender that offers financial solutions to residents of Illinois, providing both savings and installment loans. Based in Des Plaines, IL, Sail Loans has been operating since 2016, and you can reach their customer support team at 833-700-7245.

While they have yet to gain accreditation from the Better Business Bureau, they have a verified account on Trustpilot, receiving a 3.8 out of 5 stars rating from customers. One of the advantages of choosing Sail Loans is the speed and convenience of their application process.

With the ability to request up to $4,000, you can get approved within minutes of submitting the installment loan form and receive your funds directly into your bank account the same day, with a portion directed into a secure deposit account.

Overall, Sail Loans may be a good option for those needing quick financing, but it’s essential to thoroughly review their terms and fees before signing up.

Also read: Right Now Loan Review

Sail Loan Terms and Fees:

sail loan review

Sail Loans offers savings and installment loans to customers in Illinois, with a minimum loan amount of $100 and a maximum loan amount of $4,000. The loan term is 24 months, giving borrowers flexibility in repayment options.

One crucial factor to consider when evaluating Sail Loans is their interest rates and APRs. Currently, the interest rate for Sail Loans is 35.99%, the maximum allowed by Illinois state law.

For example, If you were to take out a loan with Sail Loans for $1,000.00 with a loan term of 12 months and an APR of 35.99%, your bi-weekly repayments would be $46.06. At the end of the loan term, you would have paid $1,197.55, including $197.55 in interest.

This means that borrowers will need to carefully consider the cost of borrowing and ensure they can afford to make payments on time.

Additionally, it’s worth noting that Sail Loans does not charge pre-payment penalties, allowing borrowers to pay off their loans early without incurring additional fees.

However, late payment fees and penalties may apply if borrowers miss payments or fail to pay back their loans on time, so it’s essential to be aware of these terms and fees before agreeing to a loan from Sail Loans.

Also read: Cup Loan Program Review

How To Apply for a Loan with Sail Loans?

If you’re interested in applying for a loan with Sail Loans, there are a few steps you’ll need to take to get started. First, it’s essential to ensure you meet the eligibility criteria, which include having a verified bank account and providing proof of income that is no more than 30 days old.

sail loan review

You’ll also need a valid driver’s license or state ID to complete your application. Once you have all the required documents, you can start the application process by filling out the installment loan form on Sail Loans’ website.

The application typically takes just a few minutes to complete, and you can expect to receive a decision on your loan request within minutes of submitting the form.

If approved, you can expect to receive your funds directly into your bank account on the same day, with a portion directed into a secure deposit account.

The application process with Sail Loans is designed to be fast and convenient, making it a good option for those needing quick financing.

Sail Loan Customer Support and Contact Details:

If you ever have questions or concerns about your Sail Loan, the company offers several support channels to help you get the needed assistance. You can reach their customer service team by phone at 833-700-7245 or by email at [email protected].

The call center is open Monday through Friday from 8 am to 8 pm CST and on Saturdays from 8 am to 5 pm CST. If you need to send payment or correspondence, you can do so at the P.O. Box 1906 address in Des Plaines, IL.

Sail Loans also has a corporate address at 2400 East Devon Avenue Ste. 300 in Des Plaines, IL. While customer reviews suggest that the response time and quality of customer service vary, Sail Loans is committed to resolving complaints and disputes as quickly and somewhat as possible.

If you have any issues with your loan or need help with your account, don’t hesitate to contact Sail Loans’ customer service team for assistance.

The Pros and Cons of taking a loan with Sail Loans:

Before deciding to apply for a loan with Sail Loans, weighing the pros and cons of borrowing from this lender is essential. One advantage of Sail Loans is that the application process is quick and easy, with loan amounts of up to $4,000 available to qualified borrowers.

1. The quick and easy application process1. High-interest rates and APRs
2. Loan approval within minutes2. Only available to residents of Illinois
3. Funds are transferred immediately to your bank account3. Limited loan terms of up to 24 months
4. No pre-payment penalty
5. Loans available to people with poor credit scores
6. Multiple loan options open up to $4,000

Additionally, there is no pre-payment penalty, which means you can pay off your loan early without incurring additional fees. However, one disadvantage of borrowing from Sail Loans is the high-interest rate of 35.99%, which can make borrowing expensive if you cannot pay off the loan quickly.

Regarding how Sail Loans compares to other lenders in the market, the lender’s APR is generally higher than that of traditional banks and credit unions but may be competitive with other online lenders that cater to borrowers with less-than-perfect credit.

If you’re considering borrowing from Sail Loans, carefully review the terms and fees associated with the loan to ensure that it’s the right option for you.

Is Sail Loan Legit?

Sail Loans is a legitimate lender that provides installment loans to residents of Illinois. The company is licensed by the Illinois Department of Financial and Professional Regulation and has operated since 2016.

While Sail Loans has yet to gain accreditation from the Better Business Bureau, they have established a verified account with Trustpilot, with an overall rating of 3.8 out of 5 stars.

However, it is essential to note that Sail Loans has relatively high-interest rates and APRs, and borrowers should carefully consider the terms and fees before accepting a loan offer.


In conclusion, Sail Loans provides a financial solution for Illinois individuals looking for installment loans.

While the company has yet to gain accreditation from the Better Business Bureau, they have established a verified account with Trustpilot and received an excellent overall customer rating.

With a loan amount ranging from $100 to $4,000 and a maximum APR of 35.99%, Sail Loans provides a reasonable option for borrowers.

However, it is essential to note that the interest rates and fees associated with these loans can be high, so it is crucial to consider all options before deciding. If you choose to borrow from Sail Loans, ensure you can make the payments on time to avoid any penalties or late fees.

The decision to borrow from Sail Loans or any other lender is personal and should be made carefully considering your financial situation.


Does Sail Loans check credit?

Yes, Sail Loans does perform a credit check as part of the application process. However, they claim to focus on your overall financial situation rather than just your credit score. This means that even if you have bad credit, you may still be able to get approved for a loan with Sail Loans.

What are the Sail Loans requirements?

To qualify for a loan with Sail Loans, you must be a resident of Illinois and at least 18 years old. You must also have a verified bank account and a steady source of income. Other documents that may be required include proof of income (from the past 30 days) and a valid driver’s license or state ID.

How much can I borrow from Sail Loans?

Sail Loans offers loans ranging from $100 to $4,000. The amount you are approved for will depend on your income, credit score, and other financial obligations.

What is the interest rate for Sail Loans?

The interest rate for Sail Loans is 35.99%. This is the maximum rate allowed by law in Illinois. Remember that the actual rate you are offered may vary based on your creditworthiness and other factors.

What is the repayment term for Sail Loans?

The maximum repayment term for Sail Loans is 24 months. However, you can choose a shorter period if you prefer. It’s important to note that the longer your repayment term, the more you will pay interest.

Olivia is a finance expert with years of experience in the industry. She is passionate about helping people make informed decisions about their finances, and her expertise lies in the areas of loans and insurance policies.

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