Who owns CreditNinja?
Who is the parent company of CreditNinja
KMD Partners, the parent company of online lender CreditNinja, is buying Salt Lake City-based Liberty Bank. CreditNinja offers personal loans with high interest rates ranging from 25% to 249%.
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Is CreditNinja a legitimate company
CreditNinja is a reputable and trustworthy online lender, offering personal installment loans to borrowers in need. At CreditNinja our top priority is getting you the cash you need exactly when you need it most.
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Is CreditNinja a bank
CreditNinja is a Chicago-based online lender offering high-cost personal loans — in some cases, you could end up paying double (or more) the amount you borrow, no matter how quickly you pay off the loan.
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What is CreditNinja’s revenue
CreditNinja's revenue is $37.6 Million What is CreditNinja's SIC code CreditNinja's SIC: 61,614 What is CreditNinja's NAICS code
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What was the problem with Ninja loans
Disadvantages of NINJA Loans
NINJA loans carried an increased risk for both borrowers and lenders. On the lender side, the loans required no evidence of collateral, which essentially made them unsecured loans. It meant that in the event of a default, the lender could not seize any assets to cover their losses.
What does Ninja stand for in Ninja loans
It stands for "no income, no job, and no assets." Whereas most lenders require loan applicants to provide evidence of a stable stream of income or sufficient collateral, a NINJA loan ignores that verification process.
Does CreditNinja build credit
Credit Ninja does not report to any of the major credit bureaus. Creditors are not required to report payment activity to credit bureaus. However, making regular on-time payments to a creditor that reports to one or more credit bureaus may help improve your credit.
Are Ninja loans real
Are NINJA Loans Still Available NINJA loans have largely ceased to exist in the United States due to tighter lending standards put in place after the 2008 financial crisis.
Is CreditNinja a direct lender
CreditNinja is also a direct lender. We offer direct installment loans to our borrowers.
Why were Ninja loans and why were they a problem
Due to the lack of a standardized process, NINJA loans offered a quick way to provide loans to borrowers as opposed to following traditional methods. It created immense problems in the credit market and caused the eventual collapse of the global economy during the financial crisis.
Are Ninja loans coming back
NINJA loans have disappeared from the market, likely never to be seen again, but one lender is about to bring back a similar ghost of the mortgage market's past: the NINA loan. NINA loans are loans that do not include a requirement for a borrower to prove income or assets. No Income, No Assets = NINA.
Why were ninja loans and why were they a problem
Due to the lack of a standardized process, NINJA loans offered a quick way to provide loans to borrowers as opposed to following traditional methods. It created immense problems in the credit market and caused the eventual collapse of the global economy during the financial crisis.
Why did banks issue ninja loans
NINJA loans were initially created for borrowers who had trouble producing the necessary documentation to prove their assets and income, such as prior tax returns, because their income came from non-traditional sources where such documentation is difficult to come by, like tips or a personal business.
What is the maximum loan amount for CreditNinja
If you have already created a CreditNinja account in the past, to reapply please log in to your account. Once logged in, if you are eligible to reapply, you will see a button to click. How much can I borrow Generally, we offer unsecured loans up to $5,000.
Why were ninja loans a problem
Disadvantages of NINJA Loans
NINJA loans carried an increased risk for both borrowers and lenders. On the lender side, the loans required no evidence of collateral, which essentially made them unsecured loans. It meant that in the event of a default, the lender could not seize any assets to cover their losses.
Does CreditNinja do a credit check
While CreditNinja doesn't look at your traditional FICO score, we review your credit history through a separate credit company. Other factors that will affect your application are your income, other outstanding loans, and your overall ability to repay the loan.
Who created the ninja loans
No income, no job, no assets ("NINJA")
The term was popularized by Charles R. Morris in his 2008 book The Two Trillion Dollar Meltdown, though the acronym had been publicly used by some subprime mortgage lenders for some years.
What was the problem with ninja loans
Disadvantages of NINJA Loans
NINJA loans carried an increased risk for both borrowers and lenders. On the lender side, the loans required no evidence of collateral, which essentially made them unsecured loans. It meant that in the event of a default, the lender could not seize any assets to cover their losses.
Who created Ninja loans
No income, no job, no assets ("NINJA")
The term was popularized by Charles R. Morris in his 2008 book The Two Trillion Dollar Meltdown, though the acronym had been publicly used by some subprime mortgage lenders for some years.
Why does CreditNinja need access to my bank account
An online bank account is required in order to do Bank Verification. Without an online account we cannot verify the ownership of the bank account, which will result in us being unable to approve an application. Does CreditNinja serve military customers