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Last Updated: 04/18/2025

Borro Personal Loans

in Personal Loans from Borro Inc.

Last Updated: 04/18/2025

Created by:

SuperMoney

Fact Checked by:

Andrew Latham

Mostly recommended5 total votes

2 users recommend

1 users are unsure

2 users don't recommend

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See how much you qualify for and what your monthly payment will be.

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It's quick, easy, and won't hurt your credit score.

Highlights

Community Rating

Mostly recommended

APR

35.88% - 59.88%(Verified 06/21/2024)

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Amount Range

$5,000 - $5,000,000

Loan Term (Months)

18 - 36

Number of Reviews

Borro Personal Loans Review

Borro Personal Loans is offered by Borro Inc., a direct lender founded in 2008 and based in New York, NY. Borro loans are available in 49 states and Washington, DC.

Key Takeaways

Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
Large loan amounts. You can apply for loan amounts of up to $5,000,000 with Borro Personal Loans .

Borro loans Pros & Cons

Pros

Cons

Considers applicants with poor credit.
Get funded in as little as 1 business day.

APRs as high as 59.88%.
Charges an origination fee.
Does not offer pre-approval with soft credit pull.
Borro Personal Loans does not report to credit bureaus.
Charges prepayment fees.
No co-sign option available.

Borro loans FAQ

What interest rates and personal loan terms does Borro loans offer?

Borro loans has higher than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Borro loans offer?

Borro loans offers a personal loan product that ranges from 35.88% APR up to 59.88% APR.

How much can you borrow via Borro loans?

Personal loan amounts start at $5,000 and go up to $5,000,000

What is the maximum loan term you can get with Borro loans?

Borro loans offers loans with terms of up to 36 months.

Borro loans Interest Rates & Loan Terms

Personal Loan Amount

$5000 - $5000000

Loan Term

18 - 36 months

APR

35.88% - 59.88%

What fees does Borro loans charge?

Does Borro loans charge an origination fee?

Borro loans may charge a personal loan origination fee .

Does Borro loans charge a late fee?

Borro loans does not disclose whether it charges late payment fees.

Does Borro loans charge prepayment fees?

No, Borro loans 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.

Borro loans Fees

Origination Fee

Prepayment Fee

N/A

Late Payment Fee

What do you need to qualify for Borro Personal Loans?

Applicants with a credit score of at least 560 and up to 700 may be eligible for Borro Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Borro Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.

Borro loans Eligibility Criteria

Minimum Age

Bank Account Required?

Credit Score

560 - 700

What is the estimated funding time for a personal loan via Borro loans?

Borro loans will typically fund loans within 1 to 7 business days of approval and clearing necessary verifications.

Does Borro Inc. perform a hard credit pull?

Yes, Borro loans 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 Borro Personal Loans legit?

Borro Inc. was founded in 2008, it is a well-established company that has been in business for 18 years. Borro Personal Loans is mostly 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.

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