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  BorrowersFirst Personal Loans

Out of Business

BorrowersFirst Personal Loans

in Personal Loans from BorrowersFirst

Out of Business

BorrowersFirst Personal Loans

in Personal Loans from BorrowersFirst

SuperMoney Net Recommendation Score -60

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -60, equating to 1.8 on a 5 point rating scale.

-60

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

1 user recommends
0 users are unsure
4 users don't recommend
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Highlights
Community Rating Strongly not recommended
APR  (Fixed APR) 7.22% - 29.99%
Loan Amount $2,500 - $35,000
Loan Term (Months) 12 - 36 months
Number of Reviews 5

BorrowersFirst Personal Loans Review

BorrowersFirst Personal Loans is no longer available to new customers on SuperMoney.

Click here to compare Personal Loans and quickly find the best options for your needs.

BorrowersFirst Personal Loans is offered by BorrowersFirst, a bank founded in 2013 and based in Austin, TX. BorrowersFirst Personal Loans is available in 34 states across the USA.

Key Takeaways
  • APRs starting at 7.22%. These are average starting rates for a personal loan. If you have good credit you may qualify for a loan with better rates.
  • Fast access to funds. In some cases you can get your money within 1 business day.
  • Prequalified rate. You can check your prequalified rate at BorrowersFirst with a soft pull that will not affect your credit score.
BorrowersFirst personal loans Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • APRs as high as 29.99%.
  • Charges an origination fee of up to 5% of the loan amount.
  • Charges a late fee of $15
BorrowersFirst personal loans FAQ

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

BorrowersFirst personal loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What interest rates does BorrowersFirst personal loans offer?

BorrowersFirst personal loans offers a fixed APR personal loan product that ranges from 7.22% APR up to 29.99% APR.

How much can you borrow via BorrowersFirst personal loans?

Loan amounts start at $2,500 and go up to $35,000

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

BorrowersFirst personal loans offers loans with terms ranging from 12 to 36 months.

BorrowersFirst personal loans Interest Rates & Loan Terms
Personal Loan Amount $2500 - $35000
Loan Term 12 - 36 months
APR 7.22% - 29.99%

What fees does BorrowersFirst personal loans charge?

Does BorrowersFirst personal loans charge an origination fee?

BorrowersFirst personal loans may charge a personal loan origination fee of up to 5% of the personal loan amount.

Does BorrowersFirst personal loans charge a late fee?

Yes, BorrowersFirst personal loans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $15.

Does BorrowersFirst personal loans charge prepayment fees?

No, BorrowersFirst personal 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.

BorrowersFirst personal loans Fees
Origination Fee up to 5%
Prepayment Fee? No
Late Payment Fee $15

What do you need to qualify for BorrowersFirst Personal Loans?

Applicants with a credit score of at least 640 and up to 850 may be eligible for BorrowersFirst Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

BorrowersFirst Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. BorrowersFirst Personal Loans only considers borrowers who are employed.

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. Active duty service members and their covered dependents are eligible to apply for a loan via BorrowersFirst Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by BorrowersFirst Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Driver's license
  • Proof of citizenship or residence permit
BorrowersFirst personal loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Individual Applications
  • Credit Score 640 - 850

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

    BorrowersFirst personal loans will typically approve (or deny) a loan application within 1 hour and fund loans within 7 business days of approval.

    Does BorrowersFirst Personal Loans report your account activity to credit bureaus?

    Yes, BorrowersFirst Personal Loans reports your account activity to the following credit reporting agencies:

    • Equifax
    • 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 improve your credit.

    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.

    Contact

    • Headquarters
    •   PO Box 163207
      Austin, TX 78716 USA
    •   Visit Site

    About BorrowersFirst Personal Loans

    Availability

      Available in 34 states
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Delaware
    • Florida
    • Georgia
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Missouri
    • Montana
    • Nebraska
    • New Hampshire
    • New Jersey
    • New Mexico
    • North Carolina
    • Ohio
    • Oklahoma
    • Pennsylvania
    • South Carolina
    • South Dakota
    • Texas
    • Utah
    • Virginia
    • Washington

    Feature Breakdown

    No Prepayment Fee
    Late Fee Amount $15
    Origination Fee (%) Up to 5%
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Minimum Age 18
    Verification Documents Required
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 640 - 850
    Approval Speed 1 hour
    Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
    Funding Time Range 1 - 7 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Pre-Approved Soft Credit Inquiry
    Loan Amount $2,500 - $35,000
    APR (Fixed APR) 7.22% - 29.99%
    Loan Term 12 - 36 months

    BorrowersFirst Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is strongly not recommended by SuperMoney users with a score of -60, equating to 1.8 on a 5 point rating scale.

    -60

    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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