BorrowersFirst is a bank based in Austin, TX. It was founded in 2013 and offers access to personal loans in 34 states across the USA.
BorrowersFirst offers personal loans with APRs starting at 7.22% and up to 29.99%.
Yes, BorrowersFirst charges a loan origination fee up to 5% of the loan amount.
Yes, BorrowersFirst may charge borrowers a late payment fee of up to $15
No, BorrowersFirst 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 $2,500 and go up to $35,000.
Applicants with a credit score of at least 640 can apply for a loan via BorrowersFirst. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via BorrowersFirst. Their rates fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
BorrowersFirst will typically approve (or deny) a loan application within 1 hour and fund personal loans as soon as 1 business day of approval.
BorrowersFirst reports credit data to the following credit reporting agencies: