Features

BorrowersFirst is a new online lender that provides installment loans of $2,500 to $35,000 at competitive interest rates. The company was founded in 2013, is based in Austin, Texas, and has an A rating with the BBB. All loans offered by BorrowersFirst are made by Cross River Bank; a New Jersey State chartered bank that was established in 2008 with $452 million in assets.

How Does BorrowersFirst Work?

BorrowersFirst has an easy to use online application form you can complete in a couple of minutes. Applicants receive a decision within seconds. Funds are deposited in as little as two days. The loans have fixed interest rates and no pre-payment penalties.

What Are BorrowersFirst Interest Rates and Terms?

Interest rates are fixed for the duration of the loan. That means borrowers don’t have to worry about interest hikes, which makes it easier to budget.

Interest rates vary depending on your credit and vary depending on the loan’s term, credit usage, and credit history. Interest rates vary from 5.99% to 26.99%, and origination fees range from 1% to 5%. The APR of BorrowerFirst loans ranges from 6.66% to 29.99%.

Loan terms vary from 36 to 60 months.

Remember origination fees are deducted from the loan before funds are deposited. For instance, if you are granted a $10,000 loan and you have to pay a 5% origination fee, BorrowersFirst will only deposit $9,500 in your account. However, you will pay interest on the entire loan amount.

There are no penalty fees for borrowers who pay their loan early. So borrowers can save money by paying the loan off early.

How Much Money Can I Borrow From BorrowersFirst?

BorrowersFirst offers loan amounts ranging from $2,500 to $35,000. In Colorado and Georgia, the minimum loan amount is $3,000. In Massachusetts, the minimum is $6,000, and in Pennsylvania, the maximum loan amount is $25,000.

To illustrate the price of a BorrowersFirst loan, consider this example. A borrower with excellent credit who qualifies for a $5,000 loan with a 5.99% interest rate and a 1% origination fee and a 36-month term will pay $153.61 a month. A total cost of $5,529.96.

What Is BorrowersFirst's Application Process Like?

The application form only requires a minute to complete, and borrowers get an instant decision. BorrowersFirst credit criteria are strict so don’t be surprised if you are denied. The good news is that checking your rate will not affect your credit score.

How Is BorrowersFirst Better Than Other Lenders?

·         BorrowersFirst has low fixed interest rates, 6.66% to 29.99% APR.

·         Loan terms range from 36 to 60 months

·         There are no prepayment penalties

·         Checking your interest rate will not affect your credit score

·         Funds can be deposited in your account within 48 hours.

  • Credit bureau reporting
  • Interest APR
    6.66% - 29.99%
  • Joint loans available
  • Loan Amount
    $2500 - $35000
  • No late fees
  • Max Loan Term (Months)
    60
  • Lend to military?
  • Origination Fee
    1% - %
  • Institution Type
    Bank
  • Approval Speed (Hours)
    1
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Best loan experience I have ever had. Fast and easy!


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Fast, painless once I submitted minimal documents. Friendly staff.


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