Out of Business
Mostly not recommended
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Where does BorrowersFirst do business?
BorrowersFirst is a bank based in Austin, TX. Founded in 2013, BorrowersFirst offers access to personal loans in 34 states across the USA.
What personal loan APRs are offered via BorrowersFirst?
BorrowersFirst offers a fixed APR personal loan product that ranges from 7.22% up to 29.99% APR.
Does BorrowersFirst charge an origination fee?
Yes, BorrowersFirst charges a loan origination fee of up to 5% of the loan amount.
Does BorrowersFirst charge a late fee?
Yes, BorrowersFirst may charge borrowers a late payment fee of up to $15
Does BorrowersFirst charge prepayment fees?
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.
How much can you borrow via BorrowersFirst?
Loan amounts start at $2,500 and go up to $35,000.
What can a personal loan from BorrowersFirst be used for?
Personal loans from BorrowersFirst 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 BorrowersFirst?
BorrowersFirst offers personal loans with terms ranging from 12 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.
What do you need to qualify for a loan with BorrowersFirst?
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.
BorrowersFirst only considers borrowers who are employed.
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:
- Driver's license
- Proof of citizenship or residence permit
- Recent pay stubs
What is the estimated funding time for a personal loan via BorrowersFirst?
BorrowersFirst will typically approve (or deny) a loan application within 1 hour and fund personal loans within 7 business days of approval.
Does BorrowersFirst report loan payments to credit bureaus?
BorrowersFirst may report credit data to the following credit reporting agencies:
PO Box 163207
Austin, TX 78716 USA
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- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- South Carolina
- South Dakota
|No Prepayment Fee|
|Late Fee Amount||$15|
|Origination Fee||Up to 5%|
|Credit Score Range||
640 - 850
850 300 640
|Immigration Status Considered||
|Employment Statuses Considered||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$2.5K - $35K|
|Loan Term (Months)||12 - 36|
|APR (Fixed APR)||7.22% - 29.99%|