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.
Balance Credit offers personal loans with APRs starting at 99% and up to 1200%.
Yes, Balance Credit charges a loan origination fee.
Yes, Balance Credit may charge borrowers a late payment fee.
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.
Loan amounts start at $100 and go up to $3,000.
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.
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:
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.