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  Align Income Share Funding
Align Income Share Funding
in Personal Loans from Align Income Share Funding
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Align Income Share Funding

Claimed
in Personal Loans from Align Income Share Funding
SuperMoney Net Recommendation Score -18  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -18, equating to 2.6 on a 5 point rating scale.

-18

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.

Mostly not recommended

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Highlights
Community Rating Mostly not recommended
APR  (Variable APR) 37% - 94%
Loan Amount $1,500 - $12,500
Loan Term (Months) 24 - 60 months
Number of Reviews 28

Align Income Share Funding Review

Align Income Share Funding is offered by Align Income Share Funding, a direct lender founded in 2011 and based in Chicago, IL. Align Income Share Funding are available in 6 states across the USA.

Key Takeaways

  • Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 5% and 36%. The starting rates for Align Income Share Funding are on the higher end of the market.
  • Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
  • Prequalified rate. You can check your prequalified rate at Align Income Share Funding with a soft pull that will not affect your credit score.
  • No origination fee. Align Income Share Funding does not charge a loan origination fee.
  • Minimum income of $20,000. You will need an annual income of at least $20,000 to apply for Align Income Share Funding, which is below average for the lenders in our database

Align Income Share Funding Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Considers applicants with fair credit.
  • Funding available within 1 business day.
  • APRs as high as 94%.
  • Align Income Share Funding does not report to credit bureaus.
  • Charges a late fee.

Align Income Share Funding FAQ

What interest rates and personal loan terms does Align Income Share Funding offer?

Align Income Share Funding has higher than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Align Income Share Funding offer?

Align Income Share Funding offers a variable APR personal loan product that ranges from 37% APR up to 94% APR.

How much can you borrow via Align Income Share Funding?

Personal loan amounts start at $1,500 and go up to $12,500.

What is the maximum loan term you can get with Align Income Share Funding?

Align Income Share Funding offers loans with terms of up to 60 months.

Align Income Share Funding Interest Rates & Loan Terms
Personal Loan Amount $1500 - $12500
Loan Term 24 - 60 months
APR 37% - 94%

What fees does Align Income Share Funding charge?

Does Align Income Share Funding charge an origination fee?

Align Income Share Funding does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Align Income Share Funding charge a late fee?

No, Align Income Share Funding will not charge you a late fee if you miss one of the monthly payments.

Does Align Income Share Funding charge prepayment fees?

No, Align Income Share Funding 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.

Align Income Share Funding Fees
Origination Fee No
Prepayment Fee No
Late Payment Fee No

What do you need to qualify for Align Income Share Funding?

Applicants with a credit score of at least 600 and up to 700 may be eligible for Align Income Share Funding. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with Align Income Share Funding, applicants need a minimum annual income of $20,000 or higher. Align Income Share Funding only considers borrowers who are employed and meet the minimum income requirement.

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 Align Income Share Funding. 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 Align Income Share Funding.

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

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
Align Income Share Funding Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 600 - 700

    What is the estimated funding time for a personal loan via Align Income Share Funding?

    Align Income Share Funding will typically approve (or deny) a loan application within 24 hours and fund loans within 3 business days of approval.

    Are Align Income Share Funding legit?

    Align Income Share Funding was founded in 2011, it is a well-established company that has been in business for 12 years. Align Income Share Funding are mostly not recommended by SuperMoney community users.

    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.

    Message From Our Editor

    What we love about Align Income Share Funding

    Align Income Share Funding offers a unique take on traditional loans. With a normal loan, you borrow money and have to make payments each month until you pay off the loan. Usually, the monthly payments are equal. If you lose your income, you still have to find money to make payments.

    With an income share agreement, your monthly payments equal a percentage of your income. That means that if you lose your income or your income shrinks, your monthly payments shrink as well. If you have no income, you don’t have to make payments.

    This means you don’t have to worry as much about defaulting on the loan.

    What could Align Income Share Funding do better?

    The drawback of these kinds of agreements is that if your income increases, so will your monthly payment. If you wind up making a lot of money, you’ll have to make very large payments. There’s no way to know how much you’ll pay over the life of the income share agreement, so you may have been better off with a traditional loan.

    Align Income Share Funding also offers relatively low loan amounts compared to traditional lenders, which means you might not be able to get enough money to cover your needs.

    Align Income Share Funding’s Backstory

    Align Income Share Funding was launched as Cumulus Funding in November 2011 by Nathan Popkins, a former Investment Banker who believed hard-working people deserved access to capital with terms that were more forgiving. The company has offered funding to thousands of customers and operates in multiple states.

    The Verdict

    If you are worried about losing some or all of your income, Align Income Share Funding can ease your fears by adjusting your monthly payment with your income. If you have a stable income or may increase your income, a traditional loan with a fixed payment is likely a better deal.

    Contact

    About Align Income Share Funding

    Availability

      Available in 6 states
    • Arizona
    • California
    • Delaware
    • Florida
    • Montana
    • Wisconsin

    Feature Breakdown

    No Origination Fee
    No Prepayment Fee
    Checking Account Required
    Employment Statuses Considered Employed Full-Time
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Minimum Annual Income $20,000
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    Verification Documents Required
    • Driver License (or other photo ID)
    • Recent Pay Stubs
    • Proof of Income
    Credit Score Range 600 - 700
    APR Type Variable APR
    Loan Amount $1,500 - $12,500
    APR (Variable APR) 37% - 94%
    Loan Term 24 - 60 months

    Align Income Share Funding Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is mostly not recommended by SuperMoney users with a score of -18, equating to 2.6 on a 5 point rating scale.

    -18

    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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