Features

Where does Balance Credit do business?

Balance Credit is a direct lender based in Irving, TX. It was founded in 2013 and offers access to personal loans in 9 states across the USA.

What range of rates does Balance Credit offer?

Balance Credit offers personal loans with APRs starting at 99% and up to 1200%.

Does Balance Credit charge an origination fee?

Yes, Balance Credit charges a loan origination fee. 

Does Balance Credit charge a late fee?

Yes, Balance Credit may charge borrowers a late payment fee.

Does Balance Credit charge prepayment fees?

No, Balance Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Balance Credit?

Loan amounts start at $100 and go up to $3,000.

What is the maximum loan term for a Balance Credit personal loan?

Balance Credit offers personal loans with a maximum term of 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with Balance Credit?

Applicants with a credit score of at least 300 can apply for a loan via Balance Credit. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents cannot apply for a loan via Balance Credit. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

Only U.S. citizens and permanent residents can apply for a loan.

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

  • Driver's license
  • Applicants must have an active and valid checking account
  • Proof of citizenship or residence permit
  • Recent pay stubs

What is the estimated funding time for a personal loan via Balance Credit?

Balance Credit will typically approve (or deny) a loan application within 1 hour and fund personal loans as soon as 1 business day of approval.

  • Max Loan Term (Months)
    24
  • Institution Type
    Direct Lender
  • Bank Account Required?
  • Credit Score Range
    300 - 700
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Only Individual Applications
  • Military Status
    • Non-Military
    • Veterans
  • Minimum Age
    18
  • Verification Documents Required?
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • No Prepayment Fee
  • Approval Speed (Hours)
    1
  • Funding Time Range (in days)
    1 - 2
  • Loan Term Range (Months)
    1 - 36
  • Payment Options
    Automatic Payments
  • Loan Amount
    $100 - $3000
  • APR
    99% - 1200%
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