What Is First Choice Capital Resources?

First Choice Capital Resources is a loan matching company that pairs you with a lender to obtain a loan; it is not a lender itself.  People obtain First Choice Capital loans for a variety of reasons, and most of the reasons don’t even need an explanation. 

What makes First Choice Capital Resources unique is that it provides its customers with ongoing service. This means that if you aren’t able to qualify for a loan at first, it doesn’t mean that you are eliminated from that possibility in the future. It is constantly adding new lenders to its network, so you will have other opportunities to qualify for later.  The best part is that you can request its services as many times as you like.

Is First Choice Capital Resources Legit?

A legitimate business is one that delivers on its promises and doesn’t steal money from people or mislead them. If you’ve read any First Choice Capital Resources reviews online, then you’ve likely seen plenty of negative reviews to go along with the positive ones.

While there are plenty of negative reviews, there is nothing illegitimate about First Choice Capital. Most of the negative reviews are due to its high interest rates and other factors that don’t have anything to do with the actual company. It is a legitimate business that matches up lenders with people who may be having trouble obtaining loans elsewhere. It’s your choice to decide whether a particular lender is right for you.

Even if you were denied a loan at another lender, you have a better chance of obtaining a loan through First Choice Capital, and even if you have bad credit, you will likely be connected with at least a few lenders that can help you. The best part is that the service that First Choice Capital provides is free!

Types of Loans and Interest Rates Offered

The two main types of First Choice Capital Resources loans are installment loans and payday loans. 

Installment loans are repaid through a certain number of payments. The duration of the loan can be as little as a couple of months to as long as 30 years. When you apply for an installment loan, the lenders will usually provide you with the annual percentage rate of interest (APR) and have different payback options for you to choose from. Since the installment loans generally have lower interest rates, lenders usually want customers with better credit scores before they approve them.

Payday loans are a short-term type of loan for smaller dollar amounts, ranging from around $100-$1,000. When the lender transfers you the money, you will be debited that amount from your account, plus any potential lender fees, the next time you get paid. That means you must have a steady source of income with a direct deposit in your bank account in order to be considered for a payday loan. The APR varies depending on a variety of factors, but the lender will provide you with that information. 

Based on your FICO score, here is a breakdown of the credit rating system that First Choice Capital Resources uses:









The interest rates for each loan vary depending on the lender and your credit score. Typically, the rates from lenders that provide First Choice Capital installment loans are around 6%-25%. Since a payday loan is a short-term loan and generally does not require the best credit score, the interest rates are much higher, starting at 20% and going up to 1200%. Therefore, it’s important to fully understand the terms from a lender before you accept.

First Choice Capital loans

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Who Is Eligible for a Loan from First Choice Capital Resources?
After reading many First Choice Capital Resources reviews, you will see that anyone can apply to be matched with lenders to help secure a loan. However, it is not guaranteed that your criteria will be matched with a lender. If that happens, then you can try a number of things:
  • make sure you have a direct deposit set up into your bank account
  • pay off your other outstanding loans
  • apply for a loan during normal business hours
  • reapply every few days

Some lenders have specific criteria, and that could mean that they only accept applications during normal business hours. Don’t be discouraged if you don’t get a list of approved lenders right away. First Choice Capital Resources is constantly adding different lenders to its list for customers, so you will get the right fit eventually.

The Process of Securing a Loan

The process of securing First Choice Capital loans is one of the easiest things to do. 

  1. Simply fill out an online profile on the First Choice Capital Resources website and submit it.  Within seconds, you will be provided with a list of lenders that you can choose from.
  1. If you are not satisfied with any of the terms of the loans offered by those lenders, you do not have to accept them. Simply reject the offers and apply again at a different time to find a new lender.
  1. If you find a loan that is acceptable, then you will electronically agree to the terms, and the money will be transferred to you. The timeframe of obtaining the money can vary depending on the lender. Most lenders will only complete transactions during normal business days, but some will transfer you the money within an hour.

A First Choice Capital review indicates that security is not a problem through its website. It maintains some of the strictest processes to ensure that the customer’s information is secure.  All personal information is transmitted using Secure Sockets Layer technology (SSL), so you can rest assured that your personal information is kept safe.

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First Choice Capital Resources Reviews

As with any company, you will find a variety of positive and negative First Choice Capital Resources reviews online. However, the vast majority of the reviews are positive. In fact, the negative reviews are mainly regarding the loan terms, which First Choice Capital doesn’t have anything to do with!

What’s Good About First Choice Capital Resources?

According to SSI Cash Advance, First Choice Capital Resources could be one of the best resources for obtaining an online loan quickly when no other lender will provide you with one.  In the review, it’s mentioned that customers are encouraged to shop around for loans that have terms that meet their current financial situations. 

You will never be pressured into agreeing to a loan since the service is just to present you with potential lenders.

Another favorable review comes from iLoans Review. The reviewer reemphasizes the fact that you don’t need to worry about being “swindled” by First Choice Capital Resources or the lenders.  They are all reputable companies that are only there to help you and not to try and scam you by including fine print everywhere. 

Everything from the website functionality to the process of applying for and obtaining a loan is seamless and easy for any customer to use.

What’s Bad About First Choice Capital Resources?

Negative First Choice Capital reviews can be viewed on sites like Credit Forum. In general, negative First Choice Capital reviews are mainly about potential high interest rates and what happens if you don’t pay the loan back on time or if you have insufficient funds.

It is true that the lenders associated with First Choice Capital loans have higher interest rates than most lenders – that’s mainly because they help people who don’t have the best credit ratings. However, all of the terms are clearly disclosed before you accept an offer, so there will be no surprises. 

Even First Choice Capital Resources will tell you that there are other options available for obtaining a loan. As a reviewer on Credit Forums indicates, the lenders will take action to receive their money once the timeframe of payback expires, but that is no different than any other bank or lender.

Customers should feel comfortable using the services since most of the negative First Choice Capital Resources reviews are about the terms of each specific loan. As long as you read the terms closely and understand them, you should have no problem with either the lender or First Choice Capital loans.

Why First Choice Capital Resources Is Right for You

Using the services of First Choice Capital Resources is free for everyone, but it’s not necessarily recommended that everyone use the service. It is mostly designed to help people with bad credit obtain loans when they aren’t able to get loans elsewhere.

Anyone with bad credit will have a higher interest rate than those with good credit. That’s just the way the industry works. If people with bad credit knew to expect higher interest rates, then the process would be much more simple and pain-free.

Here are some of the main reasons why people use First Choice Capital Resources:

  • they need cash quickly
  • they have poor credit scores
  • they can’t obtain loans from other lenders
  • they need long-term loans for unexpected expenses or even for mortgage
  • they plan on paying back the loans within the terms agreed on with the lenders

You can avoid a substantial amount of debt by understanding the terms of the loan and paying the money back within the terms disclosed. In order to prevent further damaging your credit score, it’s imperative that you pay the loans back as soon as possible and never violate the terms of the loan that you signed up for.

Customers of First Choice Capital Resources should understand that an interest rate of 600% is not a smart loan to take out. You can quickly find yourself in greater debt and hurt your credit rating even more by having a loan with those terms. 

If you are offered a loan with a high interest rate, you have to determine whether it makes sense in your financial situation to accept the offer.

The ultimate goal for customers is to obtain the money that they need immediately without sacrificing their future financial situations. First Choice Capital Resources does not pressure you into securing a loan that is unreasonable for your situation. 

They provide you with all of the options that you may not have received elsewhere. At that point, it is up to you to be responsible enough to know whether your financial situation can accept the loan terms.

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