Compare your other options below. For example, you could receive a loan of $5,000 with an interest rate of 16.49% and a 5.00% origination fee of $250 for an APR of 20.19%. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Order all three credit reports for free and go through them with a fine-tooth comb. },
Minimum requirements: To be considered for a personal loan, you must have a FICO score of at least 600, which is considered “fair” credit. To apply, you’ll need to have some personal information ready, including your date of birth, address, phone number and email address. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. That information is helpful in getting an accurate pre-approval from Peerform because you’ll need to enter in your general credit score range. Just check to make sure that’s the case before you apply for several different pre-approvals. California loans arranged pursuant to Dep't of Business Oversight Finance Lenders License #60DBO-78868. Editorial Note: Compensation does not influence our recommendations. But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. Fixed interest rates from 5.99% to 29.99%; Online application process; Loan amounts from $4,000 to $25,000 While Crediful does not feature every company, financial product, or offer available, we are proud that the information, reviews, guides, and other tools found on our site are entirely objective and available to you free of charge. As of May 18, 2020, the link to Peerform's Help Center on their homepage is inactive so if you need to contact customer service your options are the live chat widget on the site, sending an email, or calling. To view a list of partners, click here. Its customization tool lets you set goals while also outlining how to go about investing so you can achieve optimum results. While we may receive revenue and referral fees from advertising and affiliate links, advertisers do not approve our reviews. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. You’ll need a minimum credit score of 600 to qualify, in addition to at least one year of credit history. Also note that, while you can get a loan from PeerForm with a competitive interest rate as low as 5.99% if you have good credit, you would probably want to choose a different lender in that case. Applicants must be at least 18 years old (19 if you’re a resident of Nebraska or Alabama), and a U.S. citizen or permanent resident. Other requirements include a Social Security number, a valid email address and an open bank account. Late fees are assessed at a rate of 5% of the amount of the late payment or $15 (whichever is greater) once you’re 15 days late. First, look at your debt-to-income ratio. That being said, those bare minimum requirements don’t necessarily reflect Peerform’s typical borrower. Learn more about how we review products and read our advertiser disclosure for how we make money. All APRs are based on a proprietary scoring system. View your rate and read Peerform’s disclosures. Since PeerForm focuses mostly on poor credit loans, getting a loan approved through their platform may be easier than you think. Here are a few other things you should know about Peerform loans. Banks weren’t lending at the time due to the financial crisis, so Peerform helped fill a gap in non-traditional lending. Your guide to everything personal finance. Thank you. Borrow up to $100,000 with low rates and no fees. We need your consent to our privacy policy. The end result is a mutually beneficial relationship that helps both parties achieve their goals. Its rates are relatively competitive — especially for a provider that’s willing to work with borrowers with less-than-perfect credit. Make sure to contact customer support via email, phone or chat about three to four business days before the scheduled payment. Your loan request will then go into the Peerform marketplace for investors to review. Get loan offers from multiple lenders at once without affecting your credit score. Once your loan is actually approved, a hard check will be performed to confirm your credit information. Accessed May 18, 2020. We may also receive payment if you click on certain links posted on our site. We think it's important for you to understand how we make money. The Simple Dollar has partnerships with issuers including, but not limited to, American Express, Capital One, Chase & Discover. The offers for financial products you see on our platform come from companies who pay us. Start by completing their online registration process with the following information: At some point during the process, you may also be asked to provide additional information to verify your identity. Based in New York, Peerform is a best peer-to-peer lending platform that offers personal loans even for people with bad credit. It’s accurate to the best of our knowledge when posted. You are about to post a question on Subscribe to the Finder newsletter for the latest money tips and tricks.

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