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  Acorn Finance Personal Loans
Acorn Finance Personal Loans
in Personal Loans from Acorn Finance
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Acorn Finance Personal Loans

Unaffiliated
in Personal Loans from Acorn Finance
Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Rating not yet determined  

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Highlights
Community Rating

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APR  (Fixed APR) 6% - 36%
(Verified 11/18/2022)
Loan Amount $1,000 - $100,000
Loan Term (Months) N/A

Acorn Finance Personal Loans Review

Acorn Finance Personal Loans is offered by Acorn Finance, a nonbank financial services provider founded in 2017 and based in Sacramento, CA. Acorn Finance Personal Loans are available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 6%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Acorn Finance Personal Loans are on the lower end of the spectrum.
  • Large loan amounts. You can apply for loan amounts of up to $100,000 with Acorn Finance Personal Loans.
  • Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Acorn Finance Personal Loans early.
  • Cosigner applications accepted. Applying for Acorn Finance Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.

Acorn Finance Personal Loans Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • Considers applicants with fair credit.
  • Cosigners accepted.
  • APRs as high as 36%.
  • Charges an origination fee.
  • Do not offer pre-approval with soft credit pull.
  • Acorn Finance Personal Loans does not report to credit bureaus.
  • Charges prepayment fees.
  • Charges a late fee.

Acorn Finance Personal Loans FAQ

What interest rates and personal loan terms does Acorn Finance Personal Loans offer?

Acorn Finance Personal Loans has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Acorn Finance Personal Loans offer?

Acorn Finance Personal Loans offers a fixed APR personal loan product that ranges from 6% APR up to 36% APR.

How much can you borrow via Acorn Finance Personal Loans?

Personal loan amounts start at $1,000 and go up to $100,000.

Acorn Finance Personal Loans Interest Rates & Loan Terms
Personal Loan Amount $1000 - $100000
Loan Term N/A
APR 6% - 36%

What fees does Acorn Finance Personal Loans charge?

Does Acorn Finance Personal Loans charge an origination fee?

Acorn Finance Personal Loans may charge a personal loan origination fee.

Does Acorn Finance Personal Loans charge a late fee?

No, Acorn Finance Personal Loans will not charge you a late fee if you miss one of the monthly payments.

Does Acorn Finance Personal Loans charge prepayment fees?

No, Acorn Finance Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Acorn Finance Personal Loans Fees
Origination Fee No
Prepayment Fee N/A
Late Payment Fee No

What do you need to qualify for Acorn Finance Personal Loans?

Applicants with a credit score that ranges from 510 may be eligible for Acorn Finance Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Acorn Finance Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Acorn Finance Personal Loans only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Acorn Finance Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Acorn Finance Personal Loans.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Government issued photo ID
  • Proof of citizenship or residence permit
Acorn Finance Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Cosigners
  • Individual Applications
  • Credit Score Starting at 510

    Is Acorn Finance a legit company?

    Acorn Finance Personal Loans was founded in 2017. It is an established company that has been in business for 6 years.

    Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

    SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Contact

    About Acorn Finance Personal Loans

    Availability

      Available in 50 states and Washington, D.C.
    • Alaska
    • Alabama
    • Arkansas
    • Arizona
    • California
    • Colorado
    • Connecticut
    • Washington, DC
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Iowa
    • Idaho
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Louisiana
    • Massachusetts
    • Maryland
    • Maine
    • Michigan
    • Minnesota
    • Missouri
    • Mississippi
    • Montana
    • North Carolina
    • North Dakota
    • Nebraska
    • New Hampshire
    • New Jersey
    • New Mexico
    • Nevada
    • New York
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Vermont
    • Washington
    • Wisconsin
    • West Virginia
    • Wyoming

    Feature Breakdown

    Employment Statuses Considered
    • Other
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Cosigner
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    • Tax Returns
    Verification Documents Required
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    • Government Issued Photo ID
    • Social Security Number
    Credit Score Range 510 -
    APR Type Fixed APR
    Loan Amount $1,000 - $100,000
    APR (Fixed APR) 6% - 36%
    (Verified 11/18/2022)

    Acorn Finance Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

    +100

    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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