Last Updated: 04/18/2025
SuperMoney User Recommendation Score +45
Mostly recommended11 total votes
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Highlights
Community Rating
Mostly recommended
APR (Fixed APR)
Starting at 15.9%(Verified 06/21/2024)
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Amount Range
$400 - $3,000
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Loan Term (Months)
6 - 24
Number of Reviews
Boro Personal Loans Review
Boro Personal Loans is offered by Westbon Inc., a direct lender founded in 2015 and based in Chicago, IL. Boro are available in 18 states.
Key Takeaways
- APRs starting at 15.9%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Boro Personal Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, Westbon Inc. will send the money in as little as 24 hours.
- Origination fees of 0% to 4.99%. This is on the low end for lenders that charge an origination fee. However, plenty of lenders don't charge an origination fee. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
- Short loan terms. Boro Personal Loans have loan terms as short as 6 months.
Boro Pros & Cons
| Pros | Cons |
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Boro FAQ
What interest rates and personal loan terms does Boro offer?
Boro has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Boro offer?
Boro offers a fixed APR personal loan product that starts at 15.9% APR.
How much can you borrow via Boro?
Personal loan amounts start at $400 and go up to $3,000
What is the maximum loan term you can get with Boro?
Boro offers loans with terms of up to 24 months.
| Personal Loan Amount | $400 - $3000 |
| Loan Term | 6 - 24 months |
| APR | Starting at 15.9% |
What fees does Boro charge?
Does Boro charge an origination fee?
Boro may charge a personal loan origination fee of 0% to 4.99% of the personal loan amount . Boro deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.
Does Boro charge a late fee?
Yes, Boro may charge a late payment fee if you miss one of the regularly scheduled payments of up to $15.
Does Boro charge prepayment fees?
No, Boro 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.
| Origination Fee | 0% - 4.99% |
| Prepayment Fee | No |
| Late Payment Fee | $15 |
What do you need to qualify for Boro Personal Loans?
Applicants with a credit score of at least 500 and up to 850 may be eligible for Boro Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Boro Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Boro Personal Loans. Not all companies will work with visa holders. Westbon Inc. does offer its services to temporary resident visa holders such as F1 or H1B holders.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Proof of income
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
- Proof of citizenship or residence permit
- Proof of residence
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | 500 - 850 |
What is the estimated funding time for a personal loan via Boro?
Boro will typically fund loans within 1 business day of approval and clearing necessary verifications.
Does Boro Personal Loans report your account activity to credit bureaus?
Yes, Boro Personal Loans reports to the following credit bureaus:
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Westbon Inc. perform a hard credit pull?
Yes, Boro performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are Boro Personal Loans legit?
Westbon Inc. was founded in 2015, it is a well-established company that has been in business for 11 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
Boro Personal Loans Disclosure: To qualify for the lowest rates, you must have a responsible financial history and meet other conditions.
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 Boro
Contact
Headquarters
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +45, or 3.9 on a 5-point rating scale.
+45
-1000+100
No one recommends
Everyone recommends
Boro Personal Loans Community Reviews
Would you recommend Boro Personal Loans to your friends?
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
This is the best place to find a loan as a student. They are very helpful and application process is very easy! Nobody was willing to lend me a loan at the time i wanted to buy a car.my credit score was very low and i did not have a job. My parens from overseas were sponsoring me for school and expenses. But Boro just checked my bank account and ...Show More
U
Anonymous
Apr 20, 2022
May or may not recommend
Deceptive credit practices. They do not provide information on where your information is coming from.
U
Anonymous
Apr 3, 2020
May or may not recommend
This is the best place to find a loan as a student. They are very helpful and application process is very easy! Nobody was willing to lend me a loan at the time i wanted to buy a car.my credit score was very low and i did not have a job. My parens from overseas were sponsoring me for school and expenses. But Boro just checked my bank account and ...Show More
Mia L.
Mar 11, 2020
May or may not recommend
Boro has horrendous customer service I contacted the every month about why my loan wasn’t reporting to me and they continued to tell me to wait only to find out they weren’t reporting to my credit report. They were reporting to another mia because they don’t report to your social security number. Instead of trying to change the issue they told me that they are ending services with me.
DJ
Dillon J.
Oct 16, 2019
May or may not recommend
I LOVE THIS APP. I was looking for an easy way to build my credit over 650 and not go into a ton of debt. Boro offered me $200 and I used it to go back home for Fall Break. I would recommend this app to anyone in college looking for a "starter" way to build credit.
ST
Shallisa T.
Oct 16, 2019
May or may not recommend
This has been a great way to help me build my credit! I took out the personal loan just a few months ago, I went from a 572 on creditkarma to a 645! Also every time I've called and talked to a support person they've been super helpful, and they've moved my payment for me, when I was going to be late! Once I get this paid off, I'll be ...Show More
TL
Ting L.
Oct 16, 2019
May or may not recommend
Boro helps me get my first car with reasonable down payment and very affordable monthly payment! My credit score gets boosted as well. Highly recommend to those in college who have no credit or thin credit.
DJ
Dillon J.
Jul 30, 2019
May or may not recommend
I love this product! They helped me get the cash I needed to help pay for my summer trip. And on the 200$ I received I only paid 6 dollars in interest!! I would recommend this product to anyone looking to build their credit or get extra cash when they need it.
JG
Joshua G.
Jul 29, 2019
May or may not recommend
I loved the process to get a loan at Boro. Quick and easy application, got approved in minutes and the money was in my account soon after.
U
Anonymous
Jul 29, 2019
May or may not recommend
Using Boro was super easy. Got a $1200 personal loan then paid it back over 12 months. They let me do auto withdrawal for my payment every month so that was cool.
Jason H.
Jul 24, 2019
May or may not recommend
Person loan's Interest rate is too high, too bad to apply.
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