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  Borro Personal Loans

Borro Personal Loans

in Personal Loans from Borro Inc.

Unaffiliated

Borro Personal Loans

Unaffiliated

in Personal Loans from Borro Inc.

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Highlights
Highlights
Community Rating Mostly recommended
Loan Amount $5,000 - $5,000,000
APR 35.88% - 59.88%
Loan Term 18 - 36 months
Number of Reviews 5

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 Personal Loans is available in 49 states (and Washington, DC).

What rates and terms does Borro Personal Loans offer?

Borro Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What personal loan APRs does Borro Personal Loans offer?

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

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Borro Personal Loans?

Loan amounts start at $5,000 and go up to $5,000,000.

What can a personal loan from Borro Personal Loans be used for?

Personal loans from Borro Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.

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

Borro Personal Loans offers personal loans with terms ranging from 18 to 36 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.

Borro Personal Loans Rates & Terms
Loan Amount $5000 - $5000000
Loan Term 18 - 36 months
APR 35.88% - 59.88%

What fees does Borro Personal Loans charge?

Does Borro Personal Loans charge an origination fee?

Borro Personal Loans charges a loan origination fee.

Does Borro Personal Loans charge a late fee?

Yes, Borro Personal Loans may charge borrowers a late payment fee

Does Borro Personal Loans charge prepayment fees?

Yes, Borro Personal Loans charges additional fees to borrowers who pay off their loans soon than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

Borro Personal Loans Fees
Origination Fee N/A
Prepayment Fee? Yes
Late Payment Fee N/A

What do you need to qualify for Borro Personal Loans?

Applicants with a credit score of at least 560 and up to 700 are 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.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Borro Personal Loans product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

Borro Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Individual Applications
  • Credit Score 560 - 700

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

    Borro Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.

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    About Borro Personal Loans

    Availability

    Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
      Available in 49 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Non-Military
    • Veterans
    Minimum Age 18
    Loan Amount $5K - $5M
    APR 35.88% - 59.88%
    Loan Term 18 - 36 months

    Borro Personal Loans Community Reviews

     

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