Balance Credit is a direct lender based in Irving, TX. The company was founded in 2013 and offers personal loans to borrowers in 7 states.
Balance Credit offers personal loans with APRs starting at 99% and up to 1200%.
Yes, Balance Credit charges a loan origination fee .
No, Balance Credit does not charge prepayment penalties. 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 $3000
Balance Credit offers personal loans with terms of up to 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments affordable. However, the longer the term of your loan, the more interest you will pay.
Balance Credit only considers applicants who have a credit score of at least 300 to apply.
Active duty servicemembers and their covered dependents cannot apply for a loan with 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 must provide the following documentation:
- Driver license
- Proof of citizenship or residence permit
- Recent pay stubs
You must have a job to qualify for a loan.