Highlights
Community Rating	Strongly not recommended
APR (Fixed APR)	35% - 200%
Loan Amount	$100 - $5,000
Loan Term (Months)	N/A
Number of Reviews	31

Fortiva Personal Loans Review

Fortiva Personal Loans is offered by Fortiva Financial, a direct lender founded in 2011 and based in Atlanta, GA. Fortiva Personal Loans is available in 50 states (and Washington, DC).

Key Takeaways

APRs starting at 35%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Fortiva Personal Loans are on the higher end of the spectrum.
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 Fortiva Financial with a soft pull that will not affect your credit score.
Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Fortiva Personal Loans early.

Fortiva Personal Loans Pros & Cons

Pros	Cons
Considers applicants with fair credit.	APRs as high as 200%. Charges an origination fee. Fortiva Personal Loans does not report to credit bureaus. Charges prepayment fees. Charges a late fee.

Fortiva Personal Loans FAQ

What rates and terms does Fortiva Personal Loans offer?

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

What APR rate does Fortiva Personal Loans offer?

Fortiva Personal Loans offers a fixed APR personal loan product that ranges from 35% APR up to 200% APR.

How much can you borrow via Fortiva Personal Loans?

Loan amounts start at $100 and go up to $5,000

Fortiva Personal Loans Rates & Terms
Loan Amount	$100 - $5000
Loan Term	N/A
APR	35% - 200%

What fees does Fortiva Personal Loans charge?

Does Fortiva Personal Loans charge an origination fee?

Fortiva Personal Loans may charge a loan origination fee starting at 2% of the loan amount. Fortiva Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does Fortiva Personal Loans charge a late fee?

Yes, Fortiva Personal Loans may charge borrowers a late payment fee.

Does Fortiva Personal Loans charge prepayment fees?

Yes, Fortiva Personal Loans may charge additional fees to borrowers who pay off their loans sooner 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.

Fortiva Personal Loans Fees
Origination Fee	Starting at 2%
Prepayment Fee?	Yes
Late Payment Fee	N/A

What do you need to qualify for Fortiva Personal Loans?

Applicants with a credit score of at least 560 and up to 700 may be eligible for Fortiva Personal Loans.

Fortiva 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 Fortiva 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.

Permanent resident / green card holders are also eligible to apply.

Fortiva Personal Loans Eligibility Criteria
Minimum Age	N/A
Bank Account Required?	No
Application Types Accepted	Individual Applications
Credit Score	560 - 700

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

Fortiva 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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Contact

Headquarters
5 Concourse Pkwy STE 400
Atlanta, GA 30328
Visit Site

Other Services by Fortiva Financial

Credit Card

Personal Credit Cards

Message From Our Editor

What We Love About Fortiva Financial

Fortiva Financial offers financial products such as loans and credit cards to people with subprime credit. Their credit card is an unsecured Mastercard that can be used at places where Mastercard is accepted. Their loans have flexible eligibility requirements to help those with bad credit get approved more frequently.

We love that Fortiva Financial’s products are open to those with bad credit or a difficult financial history. These options allow people to have access to loans and credit cards and build their credit back up over time. The loan approval process is also quick, with most loans being either approved or denied within a week.

What Could Fortiva Financial Do Better?

Because Fortiva Financial’s products are targeted to subprime borrowers, the interest rates are extremely high. For example, depending on your individual credit history and the amount of the loan, interest rates exceed 35%. This means that it can be incredibly expensive for customers to borrow money. It can also be extremely costly if you miss a payment or do not pay on time.

Other customers were dissatisfied with Fortiva’s customer service. Additionally, Fortiva does not allow its customers to apply for a credit limit increase, meaning you are stuck with the limit you are given when you open the card.

Fortiva Financial’s Background

Fortiva Financial is a direct lender founded in 2011 and based in Atlanta, Georgia. The company specializes in offering credit products to U.S. borrowers with “less-than-perfect” credit.

This could mean that the borrower has missed payments, has a high debt-to-income ratio, or has little to no credit history. In any case, each of these factors lowers a person’s credit score and makes it more difficult for them to get a loan. However, Fortiva Financial specifically caters to these customers. They try to provide a variety of loan options regardless of credit.

The Verdict

Whether or not you should open a credit card or borrow money from Fortiva Financial depends on your situation. If you received a pre-approval notice from the company, or if you pre-qualified for a loan on the website, read through the rates and terms thoroughly. Furthermore, it would be wise to figure out the total costs and read reviews from past customers to avoid any surprises down the road.

Availability

Available in 50 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
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

Feature Breakdown

Origination Fee (%)

Starting at 2%