Coffee Break Loans - ClayWallet

Coffee Break Loans: Legit or Scam? [September 2023 Review]

Sometimes, life can become challenging when financial issues arise and you find yourself without any source of funds. Coffee Break Loans is aware of these situations and understands that unexpected expenses can come our way.

This understanding led them to establish their company, offering fast and convenient loan options tailored to your specific needs.

The name Coffee Break Loans conveys a powerful message: it signifies their energetic and swift approach to securing a loan for you. You can complete a loan application in no time, just like finishing a cup of hot coffee.

Coffee Break Loans is part of our regular reviews of short-term loan providers. Now, let\’s examine how it compares to others in the industry.

Coffee Break Loans Connects Borrowers With Lenders

Coffee Break Loans is not a lender but a service that helps you find loans. It has a network of direct lenders who offer loans to people with all kinds of credit backgrounds. The loan amount you can get through this service can be anywhere between $500 and $5,000.

While Coffee Break Loans mainly focuses on personal loans, it can also help you find other types of loans if needed. Once you receive the loan, you can utilize the funds as per your requirements.

By using Coffee Break Loans, you don\’t have to search and apply to individual lenders. The service gathers most of the necessary information that lenders require and shares it with their network of lenders.

Within minutes of submitting your application, one or more lenders may respond and provide you with the money you need, often as quickly as the next business day. This arrangement offers you the benefit of speed and convenience.

Before choosing a service, it\’s advisable to check their rating with the Better Business Bureau and other review sites. Look for feedback from actual customers as they can provide insights into where a service excels or falls short. Additionally, make sure to review the minimum and maximum loan amounts, income requirements, and the types of loans available from each service.

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Coffee Break Loans Advantages

  • Those in need of money might avoid a drawn-out or demanding process by applying for it on the aforementioned website.
  • Its affiliated lenders only award loans after carefully examining the borrower’s information.
  • When applying for a loan, the borrower is given a thorough summary of all the pertinent details.
  • They even allow the borrower to speak with the lender directly and get all of their questions answered.
  • Loans are available to consumers starting at $500.
  • They have also done away with a lot of the paperwork required to have a loan accepted.
  • The topic of whether coffebreakloans are legitimate or not is further answered by the fact that they offer the highest level of safety and security to users enrolled on the website.
  • To better prepare the borrowers, the website even offers a list of the factors that the majority of lenders consider before approving a loan.
  • The lender deposits the money released into the borrower’s bank account.
  • By turning on the auto repayment feature, borrowers who want to pay back the loan on time can do so.

Coffee Break Loans Disadvantages

  • When it comes to financial matters, people frequently require extra encouragement to believe sources who provide a guarantee.
  • Similar to banks, it may be difficult for people to trust lenders they have never met or who are not recognized by the State.
  • Even though there is a list of requirements for loans on the website, it might not be helpful because each lender has different requirements.
  • Under such a loan-giving process, there is a potential that a borrower will be taken advantage of because lenders may demand a higher interest rate and/or act without supervision.
  • No customer service is present, and there is no platform on any social media page where you may contact them and learn more about their success rate.


FAQs About Coffee Break Loans

Coffee Break Loans might not be a familiar name to you, as it has been around for just a year. To provide you with a better understanding of how Coffee Break Loans works, here are responses to some frequently asked questions.

How Do I Apply?

You can easily complete and send a loan application on the Coffee Break Loans website within just five minutes. The necessary details you\’ll need to provide are as follows:

  • Name and address
  • Phone number
  • Email address
  • Bank or credit union routing and account numbers
  • Driver license number and state
  • Employment and income
  • Social Security number
  • Next payday and frequency

Coffee Break Loans will assess your loan application by confirming certain essential details. In order to qualify for a loan, the majority of lenders affiliated with Coffee Break Loans require you to:

  • Be employed at your present job for at least 90 days.
  • Be a US citizen or a permanent resident over the age of 18.
  • Have a minimum income of around $1,000 per month after tax deductions.
  • Have a checking account in your name.
  • Provide a working telephone number for your home and work.
  • Provide a valid email address.

Coffee Break Loans does not perform a hard credit check during the prequalification process, although direct lenders will usually do so. If you successfully prequalify, you should hear from one or more lenders willing to work with you. Coffee Break Loans may forward you to a lender’s website where you can finish the application process, including by:

  • Providing any additional required information
  • Supplying documents verifying your employment, income, and other items.
  • Permitting the lender to perform a hard credit check. This may have a small impact on your credit score and remain on your credit report for two years, but other factors may mitigate any harm. The lender will also ask permission to take automatic payments from your bank or credit union account.
  • Reading and e-signing any loan agreement you receive. The lender will specify the loan amount, loan term, payment size, origination fee, late fee, and interest rate.
  • After final approval, the lender will directly deposit the loan proceeds into your bank account, usually by the next business day.

When you share your information with Coffee Break Loans, all the lenders connected to their network can access it, which helps speed up the entire process. If you agree, the lender will automatically deduct the necessary amount from your bank account on each payment date. Alternatively, if you prefer, you can choose to send a monthly check or make an electronic payment before the due date to avoid any penalties.

If your loan payment is 30 or more days delinquent, the lender will probably report you to one or more major credit bureaus (i.e., TransUnion, Equifax, Experian). This can harm your credit score and remain on your credit report for up to seven years.

What Interest Rates and Terms Can I Expect?

Coffee Break Loans states that the maximum APR on the loans it arranges is 35.99%. Direct lenders on the loan network decide the amount to offer and the loan term based on your income and credit history. Loan amounts range from $500 to $5,000.


Although most Coffee Break Loans are unsecured, you may have another loan option: a secured loan from a network lender. In return for collateral, a secured loan (for example, a home equity loan or an auto loan) is much easier to obtain than an unsecured loan and should have a lower interest rate.

Unless otherwise specified, you will repay your unsecured loan in equal monthly payment installments. Coffee Break Loans does not participate in any financing and has no input into the terms.

Its financial services are free, but direct lenders may charge an origination fee (usually between 1% and 10%) in addition to monthly interest. Any fees (such as a late fee) appear in the loan’s APR.

Can I Get a Loan from Coffee Break Loans If I Have Poor Credit?


The Coffee Break Loans network lenders deal with all credit scores from excellent to bad. You can get a loan with poor credit but expect to pay a relatively high interest rate and fees. If you have some discretion over the timing of the loan, you can improve your approval chances by adopting habits that raise your credit score.

You can develop good credit by paying your bills on time, keeping your credit utilization ratio (i.e., credit used / credit available) below 30% but even lower for the best scores, and removing any derogatory mistakes on your three credit reports. You can clean up your credit reports yourself or hire a credit repair company to do the work for you.

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How Is My Private Information Used?

The following chart summarizes how Coffee Break Loans uses the data it collects. As you can see, it will share virtually all your data with lenders, lender networks, and other marketing partners. These terms are customary for lending networks.


If you live in California, you have the right to opt out of the sale of your personal information. Residents of the other 49 states can limit data sharing by emailing the company at [email protected].

Is Coffee Break Loans Legit?

Coffee Break Loans appears to be a legitimate loan option based on the following evidence:

  • A website active for more than one year
  • An A+ rating from the Better Business Bureau. Trustpilot is yet to review the company.
  • A secure, well-designed website that uses an extended SSL certificate and 2048-bit encryption
  • The site has About Us and Contact Us pages

On the negative side, does not have a presence on social media sites such as Facebook, Twitter, or Instagram.

As far as the legitimacy of the lenders on the Coffee Break Loans network, the company reveals:

“ receives compensation from its lenders and lending partners, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer… uses commercially reasonable efforts to ensure that the information on this Site is accurate, but accuracy is not guaranteed. makes no representations regarding your use of this Site or results that you may or may not obtain through such use.

This is standard language for online loan-finding financial services.

Is Coffee Break Loans Safe

Yes! A coffee break loan allows people to take a break from work without going over their budget. The Coffee Break Loans website also seems to be authentic! This is due to the business’s nine (9) years of operation and its respectable rating on the most well-liked websites on the internet!

Who is the Owner of Coffee break loans ?

Because the creators of this website chose to keep the identity of the owner of Coffee Break Loans private, no one is now aware of their identity.

Lender Networks Help Consumers Who Need Fast Cash

Lending networks save you time when you need emergency funds. Coffee Break Loans is a relatively new entrant in this field, with very few online comments from users. Its website has a professional look and feel to it.

Given its A+ rating from the BBB, we believe Coffee Break Loans works well, and you should have no problem including it on our list of reputable financing networks.

Final Words

If your search for information about personal loans is not yet complete, fear not. Our site has a number of great resources for personal loans similar to to our “Coffee Break Loans: Legit or Scam? (August 2023 Review)” guide.

You can learn more about personal loans and options similar to Coffee Break Loans through other in-depth articles on our site. Check out our Guides section for more guides about personal loans.

Finally, have a look around at our reviews for credit cards, loans, and credit repair, which are great resources for those who are looking to establish or rebuild credit.

Learning about your options is a great next step in building your financial future.